Group 1 - Dalian Shengya, the first cultural tourism listed company in Northeast China, is planning to issue shares to specific investors, which may lead to a change in company control [1][2] - The company has experienced four years of losses since 2020, totaling approximately 400 million yuan [1][4] - The current major shareholder, Dalian Xinghai Bay Financial Business District Investment Management Co., holds 24.03% of shares, while the private equity fund, Pankin Fund, and its associates hold 19.46% [4][5] Group 2 - The company has faced significant internal conflicts, highlighted by a violent incident at a shareholder meeting in 2020, which escalated tensions between the new board led by Yang Ziping and the original management team [4][5] - Dalian Shengya's revenue has significantly declined, with a 64% drop in 2020, and continued losses in subsequent years, including a net loss of 70.18 million yuan in 2024 [4][5] - Legal issues have compounded the company's financial difficulties, with over 20 litigation announcements since 2020, leading to increased operating expenses [5][6] Group 3 - The marine park industry, in which Dalian Shengya operates, is facing challenges such as high operational costs and stagnant visitor growth, leading to a structural contradiction of high investment and low returns [7][8] - The overall theme park sector is experiencing increased competition and pressure, with a trend towards consolidation as companies seek to address profitability challenges [8]