Core Viewpoint - The company plans to acquire 100% equity of Hangzhou Songcheng Industrial Co., Ltd. from its controlling shareholder, Hangzhou Songcheng Group, for a total transfer price of 963 million yuan, which will enhance its operational scale and content offerings, potentially reversing recent declines in performance [1] Group 1: Transaction Details - The acquisition price for the 100% stake in Hangzhou Songcheng Industrial is set at 963 million yuan [1] - Following the transaction, Hangzhou Songcheng Industrial will become a wholly-owned subsidiary and will be included in the company's consolidated financial statements [1] Group 2: Strategic Implications - This transaction addresses the company's land use shortfalls in its scenic areas and represents a proactive move towards future content and business model development [1] - The expansion of the scenic area will significantly increase operational space, enhance performance offerings, and improve tourist attraction [1] - The company anticipates that the enlarged scale and enriched content will lead to an increase in visitor numbers and higher per capita spending [1] Group 3: Future Prospects - The scenic area will serve as a testing ground for the company's planning and design initiatives, allowing for market validation of new concepts before broader implementation across its numerous scenic spots nationwide [1] - This strategic move is expected to drive overall business growth for the company [1]