The A-share renaming and listing ceremony of Shanghai Jiushi Sports, Entertainment, Culture and Tourism Group Co., Ltd. was held in Shanghai on the 28th. The former Jiaoyun Shares has been officially changed to Jiushi Sports & Entertainment. This renaming marks the completion of an asset swap that took nearly seven months and its debut on the capital market, positioning the company as a national comprehensive culture, sports, tourism, and transportation industry group. The core of the asset swap involved divesting equity in five auto parts companies and injecting core assets in sports, entertainment, and tourism from Jiushi Group and its affiliates, including event operations companies, venue companies, Pujiang River Cruise, and Jiushi Performing Arts. The delivery was completed on July 3rd. Yang Yibin, Chairman of Jiushi Sports & Entertainment, stated that the company will drive short-term performance growth by introducing incremental event IPs, improving venue utilization efficiency, and upgrading water-based cultural tourism products such as the Pujiang River Cruise, while using the capital market to rapidly replicate proven profit models.
Shanghai Jiao Yun Group Co LtdAsset swap completed, transforming from auto parts to sports/entertainment/tourism, expected to boost performance.