Securities code: Zhejiang Guangsha Co.Ltd(600052) securities abbreviation: Dongwang times Announcement No.: lin2022026 Zhejiang Dongwang times Technology Co., Ltd
Announcement on adjusting the strategic development direction of the company
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Zhejiang Dongwang times Technology Co., Ltd. (hereinafter referred to as “the company”) held the first meeting of the strategy committee of the 11th board of directors and the 12th meeting of the 11th board of directors on April 13, 2022. The above meeting reviewed and passed the proposal on adjusting the company’s strategic development direction, which needs to be submitted to the general meeting of shareholders for deliberation. The specific information is announced as follows:
The company plans to adjust the strategic development direction of the company as follows: practice the national dual carbon strategy, focus on the application of new energy technologies, and focus on the development of energy-saving service industry.
1、 Reasons and background of adjustment
In 2014, the company acquired 100% equity of Guangxia Media Co., Ltd. through asset replacement and entered the film and television culture industry; In 2015, the company officially proposed to gradually withdraw from the real estate industry within three years and determined to transform from the real estate industry to the film and television culture industry. Since then, the company has withdrawn from the real estate industry by accelerating the de sale and equity sale; At the same time, the company takes film and television culture as its main business, and its main business involves film and television drama investment, production and distribution. However, since 2015, the policies of the film and television industry have been tightened, and various adverse factors in the industry have occurred frequently. The company’s film and television drama business has been greatly affected, and the performance is not as good as expected.
In July 2021, after Dongyang Dongke Digital Technology Co., Ltd. became the controlling shareholder of the company, the nature of the company became a listed company controlled by the state; At the same time, the management of the company further clarified that it is necessary to maintain and increase the value of state-owned assets and protect the interests of all minority shareholders by improving the company’s operation. Therefore, in order to further improve the quality of the company’s assets and cultivate the company’s core competitiveness and sustainable profitability, the company plans to adjust its strategic development direction from 2022.
2、 Adjust the company’s development strategic plan
In September 2021, the company acquired Zhejiang Zhenglan Energy Saving Technology Co., Ltd. (hereinafter referred to as “Zhenglan energy saving”), which is a company based on energy-saving technology and providing hot water services for university logistics. At the same time, Zhenglan energy saving business also includes providing laundry services and direct drinking water services for some university logistics.
The company will take this M & A as an opportunity to enter the energy-saving service industry. Through its own development and industrial M & A, the company will gradually build itself into a listed company based on energy-saving technology and new energy application and providing living services to schools and other parks. At the same time, the company shrinks and adjusts the film and television business team, and plans to take the film and television culture industry as an auxiliary industry for the development of the company.
3、 Impact of this adjustment on the company
If the strategic development direction of the company is smoothly adjusted, the company will focus on the development of energy-saving service industry, and the income structure will also change greatly. Compared with the film and television culture industry, the company’s main business will have higher profit certainty and further reduce business risks.
It is hereby announced.
Board of directors of Zhejiang Dongwang times Technology Co., Ltd. April 15, 2022
