宋城集团是上市公司吗

Songcheng Group Overview

Songcheng Performing Arts, formerly known as Hangzhou World City Songcheng Real Estate Co., Ltd., was established on September 21, 1994. On February 24, 1999, Songcheng Real Estate was renamed Hangzhou Songcheng Group Co., Ltd, and on December 2000, Hangzhou Songcheng Tourism Development Co., Ltd was formed.

1. Songcheng Group's Previous Bridge to the Listed Company Songcheng Performing Arts

In 2015, when Songcheng Group acquired Liu Jianfang, the acquisition was divided into two steps. Songcheng Group first paid 1.612 billion yuan to a third party to obtain the controlling shareholder agreement of Liu Jianfang. This precedent shows that the group has the experience of facilitating Songcheng Performing Arts to go public.

2. Songcheng Group Affiliate's Application for IPO

S&T LiveReport has learned that Hua Fang Group, established in 2006, has submitted an IPO application to the Hong Kong Stock Exchange for listing on the main board on November 14, 2022. The company also submitted the application on April 29, 2022. This is the company's third attempt at IPO.

3. Songcheng Performing Arts as the Only Listed Company in the Theme Park Industry

Songcheng Performing Arts (SZ300144) is the only listed company in the A-share market that operates as a performance-themed park. Its main business includes live performances and tourism and leisure activities. Live performances are the core business of the company and the main source of revenue and profits. The company has created the concept of combining theme parks with cultural performances.

4. Songcheng Performing Arts Affiliated with 360 Group

According to the disclosed equity structure in the prospectus, Zhou Hongyi, the founder of 360 Group, owns 38.21% of the company's voting rights, and another listed company, Songcheng Performing Arts, holds 37.06% of the equity. It is speculated within the industry that Hua Fang Group is eager to go public in order to cash out its holdings.

5. Non-standard Audit Opinion on Songcheng Performing Arts' Annual Report

The reason for the qualified audit opinion on Songcheng Performing Arts' 2022 financial report was the investigation by the police into a company in which Hua Fang Group, a joint venture company of Songcheng Performing Arts, holds a 25% stake. This investigation affected 1.36 million accounts of Hua Fang Group.

Conclusion

From the information available, Songcheng Group is not a listed company itself. However, it owns a large stake in the listed company Songcheng Performing Arts. The group has facilitated the listing process for the company in the past and is separate from the recent events concerning the group. Additionally, the group is affiliated with Hua Fang Group, which has applied for IPO in Hong Kong. As the only listed company in the theme park industry, Songcheng Performing Arts focuses on live performances and combines them with theme park experiences. It is important to note the recent investigations into Hua Fang Group that have affected Songcheng Performing Arts' financial report.