Shanghai Jiao Yun Group Co.,Ltd. to Acquire Core Sports and Tourism Assets from Parent Company, Forming Integrated Platform

Shanghai Jiao Yun Group Co.,Ltd. (600676.SH) has announced a proposed asset swap with its controlling shareholder, Jiushi Group, and its affiliates. The company intends to acquire assets related to sports, entertainment, and tourism held by Jiushi Group and its affiliates, including Jiushi Sports, Jiushi Tourism, and Jiushi Culture Communication. These assets encompass 100% equity stakes in an event operation company, a venue management company, Pujiang Sightseeing, and a performing arts company. In exchange, Shanghai Jiao Yun Group Co.,Ltd. will divest assets related to automotive parts manufacturing, sales, and non-emergency rescue transport services. These include 100% equity stakes in an automotive power company, a stamping parts company, Yantai Zhongrui Company, Shenyang Zhongrui Company, and Innova Company. Through this transaction, the listed company will integrate the core sports and tourism operations of Jiushi Group. These businesses possess a relatively complete industry chain and a solid foundation for integrated development, covering sports event operations, sports venue management, performing arts planning and operations, and waterborne tourism. The incoming assets are of high caliber and possess strong driving momentum. They hold operational rights to globally branded events such as the ATP 1000 Shanghai Masters, the F1 Chinese Grand Prix, the World Snooker Shanghai Masters, the Yangtze River Delta International Athletics Diamond Meet, and the China Squash Open. They also manage landmark sports venues including Xujiahui Sports Park, Shanghai Oriental Sports Center, the Shanghai International Circuit (inner loop section), and the Shanghai Qizhong Forest Sports City Tennis Center, serving as crucial foundations for transforming core sports and cultural content into on-site experiences. Furthermore, they possess the unique cultural tourism scenario of waterborne tourism along Shanghai's "One River, One Creek" (referring to the Huangpu River and Suzhou Creek), featuring an irreplicable blend of ecological, cultural, and industrial characteristics. The cruise ships are not only the base for water tourism content but also a versatile stage for integrating other sports, cultural, and entertainment themes. The assets to be acquired in this transaction represent the core, scarce assets within Jiushi Group's sports and tourism sector, offering significant room for growth and promising prospects. Future expansion may include derivative consumption and immersive experience businesses, with market share expected to rise steadily. Concurrently, the company will divest the heavily loss-making automotive parts manufacturing and sales business. This move aims to enhance the overall quality of the listed company's assets, expand its future development space, strengthen its capital market value, and thereby improve shareholder returns. Upon completion of the transaction, the listed company will gradually transform into an integrated platform for sports, culture, and tourism. It will combine sports event operations, sports venue management, performing arts planning and operations, and waterborne tourism into one cohesive entity, positioning itself to become a nationally benchmarked comprehensive sports, culture, and tourism industry group.