Yingxin Development lists capital increase for Changsha Tongguan Kiln Guofeng Amusement Park

On October 22, 2026, Yingxin Development announced that its wholly-owned subsidiary Changsha Tongguan Kiln Guofeng Amusement Park plans a public listing for a capital increase and share expansion, with the company waiving its preferential right to subscribe to capital contributions. The capital increase price is based on audited net assets of RMB 1.225 billion as of December 31, 2025; after the capital increase is completed, the target will no longer be included in Yingxin Development's consolidated financial statements, and the company will thereby give up control. A follow-up report on October 23 stated that the capital increase and share expansion is planned to be publicly listed through the Beijing Equity Exchange to introduce an investor with a shareholding ratio of more than 50% and no more than 70%. The listing price is likewise based on audited net assets of RMB 1.225 billion as of December 31, 2025, and after the transaction is completed it will no longer be included in the listed company's consolidated financial statements; in 2025 the scenic area received more than 1.5 million visitors, with operating revenue of approximately RMB 201 million, net profit of -RMB 582 million, and net profit after deducting non-recurring gains and losses of -RMB 668 million. The announcement stated that whether intended transferees can be solicited and the timing of transaction completion remain uncertain. The matter is currently at the listing stage, and subsequent progress is subject to disclosure.