Jiaoyun Group: Intends to carry out asset swap with controlling shareholders and their related parties, to inject assets related to the cultural and entertainment industry, as well as the tourism industry.

Jiaoyun Co., Ltd. announced on May 20th that the company plans to conduct an asset swap with its controlling shareholder Jiushi Group and its affiliates. The assets to be injected include the cultural, sports, tourism, and entertainment business assets held by Jiushi Group and its affiliates Jiushi Sports, Jiushi Tourism, and Jiushi Media, including 100% equity of event operation company, 100% equity of venue company, 100% equity of Pujiang Tourist Attraction, and 100% equity of performing arts company; the assets to be divested include the automotive parts manufacturing and sales-related assets held by the company, including 100% equity of automotive power company, 100% equity of stamping parts company, 100% equity of Yantai Zhongrui company, 100% equity of Shenyang Zhongrui company, and 100% equity of Yinnuowei company. The transaction price for the divestment of assets is 1.335 billion yuan, and the transaction price for the injection of assets is 1.62 billion yuan, with the balance of 285 million yuan to be supplemented by the company in cash to the counterparty. This transaction will bring the company a core business in cultural, sports, and tourism with good development prospects, while divesting the heavily loss-making automotive parts manufacturing and sales business to overall improve the quality of the company's assets. In the future, the company plans to transform into a format-integrated cultural, sports, and tourism comprehensive listing platform, combining sports event operation, sports venue operation, entertainment planning and operation, water tourism, urban transportation logistics, and car sales to become one of the country's comprehensive cultural, sports, and tourism industry groups.