SongYang(SH:603863) 3 6 Ke·2025-12-31 01:40Core Viewpoint - Songyang Resources is divesting its controlling stake in Songyang Lottery (Beijing) Management Co., Ltd. due to the lottery business not aligning with the company's development strategy, despite previous interest in the sector [1][4]. Group 1: Company Overview - Songyang Resources, based in Shantou, Guangdong, operates in the environmental recycled paper industry and has a market capitalization of 4.3 billion yuan [1]. - The company entered the lottery industry two years ago, which initially attracted significant capital interest and led to a surge in stock price [1]. Group 2: Business Operations - Songyang Lottery, the main operating company for Songyang Resources' lottery business, opened two physical lottery stores in Beijing in 2024 [2]. - The company plans to transfer its 51% stake in Songyang Lottery to individual Zhao Xiangyue for 1 yuan, with Zhao responsible for fulfilling the corresponding capital contribution obligations [2]. Group 3: Financial Performance - Songyang Lottery reported a revenue of 96,000 yuan and a loss of 1.5092 million yuan in 2024, while the first three quarters of this year showed a revenue of 198,200 yuan and a loss of 611,300 yuan [3]. - In contrast, Songyang Resources reported a revenue of 314 million yuan and a loss of over 86.7 million yuan in the first three quarters of this year [3]. Group 4: Strategic Implications - The divestment of Songyang Lottery is seen as a move to optimize the company's business structure and focus on its core operations, potentially indicating a strategic shift away from the lottery sector [2][4]. - The company has also invested in Jinling Lottery Technology Co., which is involved in video electronic lottery services, but this venture is still in its early stages due to regulatory delays [4].