Core Viewpoint - Songcheng Performance has made significant progress on its Qingdao and Taizhou projects, with a focus on ensuring high-quality openings in 2026 and potentially earlier in 2028, respectively [1] Group 1: Project Updates - The Qingdao Qian Guqing project has completed the main structure of the theater and complex, with ongoing construction of the parking lot [1] - The Taizhou project, originally scheduled to open in May 2028, is progressing well and may open earlier than planned [1] Group 2: Financial Insights - In the first three quarters, the company confirmed design and planning fees totaling 100 million yuan for the Qingdao and Taizhou projects [1] - Light asset income will be recognized in stages based on the work results submitted to the owners, with most service fees expected to be realized before the project openings [1]