Stock Code: 300756 Stock Abbreviation: Jinma Amusement
Guangdong Jinma Amusement Co., Ltd.
2026 Feasibility Analysis Report on the Issuance of Shares to Specific Targets
(Revised Draft)
Table of Contents
Table of Contents 1
I. Background and Purpose of the Issuance of Shares to Specific Targets 2
II. Necessity of the Issuance and Selection of Securities Varieties 6
III. Appropriateness of the Selection Scope, Quantity, and Standards for Issuance Targets 7
IV. Rationality of the Principles, Basis, Methods, and Procedures for Pricing 8
V. Feasibility of the Issuance Method 9
VI. Fairness and Rationality of the Issuance Plan 13
VII. Analysis of Dilution of Immediate Returns and Remedial Measures 13
VIII. Conclusion 21
To meet the funding requirements for business development, enhance capital strength, and improve profitability and market competitiveness, Guangdong Jinma Amusement Co., Ltd. (hereinafter "the Company") has prepared this feasibility analysis report for the 2026 issuance of shares to specific targets in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for the Registration of Securities Issuance by Listed Companies, and other relevant laws, regulations, and the Articles of Association of Guangdong Jinma Amusement Co., Ltd.
Unless otherwise specified, terms used in this report have the same meanings as those in the 2026 Private Placement of Shares Plan (Revised Draft) of Guangdong Jinma Amusement Co., Ltd.
I. Background and Purpose of the Issuance of Shares to Specific Targets
(I) Background of the Issuance
- Technological leadership, including artificial intelligence in the new era, creates important opportunities for the deep development of the cultural tourism industry.
In recent years, the rapid development of artificial intelligence technology has driven the emergence of "AI+" application scenarios and potential development opportunities in various fields, including the cultural tourism industry to which the Company belongs.
The 2025 Government Work Report listed "AI+" as a key government task, supporting the integration of digital technology with manufacturing and market advantages, the widespread application of large models, and the development of new-generation intelligent terminals such as smart robots and intelligent manufacturing equipment. In November 2025, the State Council Information Office announced the deep implementation of "Robot+" application actions to expand the depth and breadth of robot applications. In the same month, six departments, including the Ministry of Industry and Information Technology, released the Implementation Plan for Enhancing the Adaptability of Consumer Goods Supply and Demand to Further Promote Consumption, proposing to organize AI-empowered consumer goods industry initiatives and promote deep integration between solution providers and manufacturers. The 15th Five-Year Plan for National Economic and Social Development suggests accelerating the development of the cultural industry, promoting the integration of culture and technology, and driving the digital and intelligent transformation of cultural construction. Utilizing big data, artificial intelligence, and IoT technologies for the digital upgrade of cultural tourism assets is a key direction for future development.
It is evident that advanced technologies such as artificial intelligence, represented by smart robots, are accelerating their transition from "virtual intelligence" in laboratory validation to commercialized "embodied intelligence," especially in the cultural tourism and entertainment sectors, creating significant opportunities for the industry's deep development.
- Social development and rising market demand are driving major changes in the cultural tourism industry.
According to data from the Ministry of Culture and Tourism, domestic tourism reached 5.615 billion trips in 2024, a year-on-year increase of 14.8%. Total domestic tourism spending in 2024 reached 5.75 trillion yuan, a year-on-year increase of 17.1%, hitting a record high. In 2025, domestic tourism trips and spending continued to grow, with 6.522 billion trips and 6.30 trillion yuan in spending, representing year-on-year increases of 16.2% and 9.5%, respectively.