ZNHI(SZ:002445) Mei Ri Jing Ji Xin Wen·2026-02-12 14:53Group 1 - Zhongnan Culture (SZ002445) plans to diversify by acquiring a controlling stake in Jiangyin Sulong Thermal Power Co., Ltd. through a combination of share issuance and cash payment, with a market capitalization of 6.607 billion yuan and a stock price of 2.78 yuan [1] - The acquisition is expected to constitute a major asset restructuring and related party transaction, with the transaction partner being Jiangyin Electric Power Investment Co., Ltd., whose legal representative is the current chairman of Zhongnan Culture, Xue Jian [2][3] - Sulong Thermal Power, established in 1993, has a total installed capacity of 1.215 million kilowatts and an annual power generation capacity of 7 billion kilowatt-hours, making it a benchmark power plant in Jiangsu Province [2] Group 2 - The investment scale of Sulong Thermal Power's Phase IV expansion project is approximately 5.6 billion yuan, which is significantly larger than Zhongnan Culture's total assets of 2.963 billion yuan as of Q3 2025 [3] - Zhongnan Culture's revenue for the first three quarters of 2025 was 910 million yuan, a year-on-year increase of 40.1%, while the net profit attributable to shareholders was 82 million yuan, reflecting a substantial year-on-year growth of 130.97% [5] - The cultural media segment of Zhongnan Culture has seen a drastic decline, contributing only about 1% to total revenue, with a negative gross margin of -0.49% in the first half of 2025 [6]