Core Viewpoint - The company has decided to terminate its plan for a private placement of A-shares due to changes in the market environment and its development strategy, ensuring that this decision will not affect its normal operations or harm the interests of shareholders, especially minority shareholders [2][3]. Group 1: Termination of Private Placement - The company announced the termination of its private placement plan after careful consideration of market conditions and development plans [2]. - The decision was made following thorough communication and prudent discussions among relevant parties [2]. - The company will apply to the Shanghai Stock Exchange to withdraw the related application documents, pending approval [3]. Group 2: Previous Fundraising Plans - In July 2025, the company disclosed a plan to raise up to 500 million yuan through a private placement, with funds intended for various projects including the construction of a cable car at the Lion Peak Scenic Area and renovations of hotels [3][5]. - The total investment for the planned projects was approximately 577.27 million yuan, with 500 million yuan allocated for fundraising [5]. - The fundraising was to involve no more than 35 specific investors, including the company's controlling shareholder, who committed to subscribe for at least 32% of the shares issued [5]. Group 3: Financial Performance - In the first half of 2025, the company reported total revenue of 483 million yuan, a year-on-year increase of 22.26% [8]. - The net profit attributable to shareholders was 142 million yuan, reflecting a year-on-year growth of 23.96% [8]. - The net profit excluding non-recurring items was 138 million yuan, showing a year-on-year increase of 26.63% [8].

Group 1 - The company is planning to issue A-shares to specific investors, including its controlling shareholder, Anhui Jiuhua Mountain Cultural Tourism and Health Group Co., Ltd, which constitutes a related party transaction [1][2] - The issuance requires approval from higher-level state-owned asset management departments, the company's shareholders' meeting, and must be reviewed and registered by the Shanghai Stock Exchange and the China Securities Regulatory Commission [1][12] - The controlling shareholder holds 29.93% of the company's shares and is recognized as a related party under the Shanghai Stock Exchange's regulations [2][3] Group 2 - The transaction involves the subscription of A-shares at a price not lower than 80% of the average trading price over the previous 20 trading days, and not lower than the latest audited net asset value per share [4][5] - The final issuance price will be determined after the review and registration process, and the controlling shareholder will not participate in the pricing process but agrees to subscribe at the same price as other investors [5][7] - The funds raised will be used for various projects, including the renovation of hotels and improvements to transportation facilities, which will enhance the company's competitiveness and profitability [11][12] Group 3 - The company will not change its controlling shareholder or management structure as a result of this issuance [12] - The board of directors has approved the related party transaction, with related directors abstaining from voting [13] - The transaction is subject to various procedural requirements, including approvals from state-owned asset management departments and the shareholders' meeting [12][13]