Group 1: Company Performance and Challenges - The company has received a total of 1.1 billion visitors over 30 years, with nearly 39,000 performances of "Song City Eternal Love," making it the largest tourism performance in terms of audience numbers and show frequency globally [1][2] - In the third quarter, the company's revenue and net profit both declined year-on-year, attributed to reduced income from light asset businesses and fluctuations in regional tourism demand due to a challenging consumption environment [3][4] - The company recognizes the limitations of its 30-year-old theme park, including small area size and outdated facilities, necessitating a significant upgrade to meet evolving consumer demands [2][3] Group 2: Upgrade and Development Plans - The upgrade plan includes hardware renovations, stage optimizations, expansion of water viewing platforms, and the introduction of new interactive and immersive experiences [3] - The company aims to enhance its operational capacity and visitor experience while maintaining business continuity during the off-peak season [3] - Future projects, such as the Qingdao and Taizhou light asset projects, are progressing well, with the Qingdao project expected to open in July 2026 [6] Group 3: Marketing and Brand Strategy - The company has implemented various marketing strategies, including collaborations with celebrities and influencers, to enhance brand visibility and attract diverse visitor demographics [11][12] - The marketing efforts have resulted in a significant increase in brand awareness and customer engagement, with a 90% satisfaction rate reported for events featuring celebrities and influencers [16][17] - The company is focusing on a flexible pricing strategy and diverse event offerings to adapt to market changes and enhance profitability [11][12] Group 4: Future Outlook and Strategic Goals - The company is committed to becoming the world's leading cultural performance entity, with a focus on sustainable growth through content innovation and quality improvements [17] - Plans include expanding existing projects, exploring new opportunities in light and heavy asset developments, and enhancing the influence of Chinese culture both domestically and internationally [17] - The company aims to leverage its established projects to capture market share and improve customer loyalty through continuous upgrades and innovative experiences [17]