TVZone: Plans to acquire 100% equity of Changsha Sports Industry Company for 29.6 million yuan

TVZone announced that the company plans to use its own funds to purchase 100% equity of Changsha Sports Industry Management Co., Ltd. held by Changsha Broadcasting and Television Group Co., Ltd., with a transaction price of 29.6 million yuan. Changsha Broadcasting is the company's controlling shareholder, and this transaction constitutes a related party transaction. This transaction does not constitute a major asset reorganization and has been reviewed and approved by the company's board of directors and supervisory board, with the independent directors' special meeting having reviewed and approved it for submission to the board of directors. In the past 12 months, the cumulative amount of related party transactions between the company and Changsha Broadcasting and its controlled enterprises has been 7.2793 million yuan. After the completion of this transaction, the event operation business of Changsha Sports Industry will be integrated into the company, which is expected to enhance the company's overall competitive advantage and profitability