Core Viewpoint - The company plans to exchange its cable television network assets and business held by its wholly-owned subsidiary, Zhuozhou Gehua, for shares in Hebei Broadcasting, which is controlled by its major shareholder, China Broadcasting Network Co., Ltd. This transaction is classified as a related party transaction but does not constitute a major asset restructuring [1] Group 1 - The transaction is based on the assessed value of the relevant assets and shares as of December 31, 2024, with Zhuozhou Gehua valuing its entire cable network assets at 87.3958 million yuan [1] - Zhuozhou Gehua will subscribe to an additional 4.1739 million shares of Hebei Broadcasting, representing 1.79% of the registered capital after the capital increase [1] - The purpose of this transaction is to implement the "one province, one network" integration requirement and enhance the operational efficiency of the company's assets [1] Group 2 - Following the completion of the transaction, Zhuozhou Gehua will no longer hold cable television network assets and business, and the related income and costs will not be included in the consolidated financial statements of the listed company [1]