Golden Horse Amusement Park, in its reply to the Shenzhen Stock Exchange's inquiry letter regarding its 1.053 billion yuan private placement plan, disclosed details of an administrative penalty imposed on its subsidiary, Shenzhen Dream Making Amusement Co., Ltd., for unauthorized use of a sealed pirate ship ride. The company plans to use the private placement proceeds mainly for projects such as the research and industrialization of cultural tourism and entertainment robots. During the reporting period, performance fluctuated, with net profit surging 996.28 percent year-on-year in 2025, and the share of overseas revenue rising from 1.87 percent to 49.15 percent. The Shenzhen Stock Exchange inquired about the reasons for performance fluctuations and whether there were any major illegal acts. The company explained that in 2024, revenue from the cultural tourism equipment manufacturing business declined due to macroeconomic factors and intensified competition, while since 2025, performance has returned to growth thanks to equipment renewal policies and overseas market expansion. Regarding the subsidiary's violation, the company stated that the equipment involved did not cause any safety accidents, the 150,000 yuan fine does not constitute a major violation, and the subsidiary's impact on the issuer's revenue and net profit is less than 5 percent.
Guangdong Jinma Entertainment Corp LtdPrivate placement plan and inquiry response reveal subsidiary violation, but performance surge and overseas expansion are positive; net impact unclear.