Zhongnan Heavy Industry plans to change its name to "Zhongnan Red Culture" to accelerate the development of cultural industry

It is planned to change the company name from "Jiangyin Zhongnan Heavy Industry Co., Ltd." to "Zhongnan Red Culture Group Co., Ltd.", and the company's securities code "002445" remains unchanged.

Zhongnan Heavy Industry announced on January 30 that Jiangyin Zhongnan Heavy Industry Co., Ltd. held the 53rd meeting of the second board of directors on January 30, 2016, and reviewed and approved the "Proposal on Changing the Company's Name and Securities Short Name". It is planned to change the company name from "Jiangyin Zhongnan Heavy Industry Co., Ltd." to "Zhongnan Red Culture Group Co., Ltd.", and the company's securities code "002445" remains unchanged.

After the company completed its major asset reorganization in January 2015 (acquisition of Datang Huihuang, etc.), its main business has undergone major changes, and the company will further develop in the direction of a big culture in the future. In order to adapt to the company's future development plan and business development needs, the company plans to change the company name and securities abbreviation this time.

Zhongnan Heavy Industry issued an announcement that it intends to transfer the company's shares and the major shareholder promised not to reduce its shares

and proposed to transfer 5 million shares. Ms. Yu Chang Jihong stimulates the accelerated development of the cultural industry

Jiangyin Zhongnan Heavy Industry Co., Ltd.(hereinafter referred to as the "Company" or "Zhongnan Heavy Industry") received a receipt from Jiangyin Zhongnan Heavy Industry Group Co., Ltd., the controlling shareholder of the company, on January 30, 2016 (hereinafter referred to as "Zhongnan Heavy Industry Group") notified that in order to encourage the core management personnel of the subsidiary, Zhongnan Heavy Industry Group and Ms. Chang Jihong plan to sign a "Share Transfer Agreement": Zhongnan Heavy Industry Group plans to transfer its 5 million shares of Zhongnan Heavy Industry and all shareholder rights derived therefrom to Chang Jihong at a transfer price of 25 yuan/share and a total price of RMB 125 million yuan. Share transfer will be realized through block transactions or other legal methods in accordance with relevant laws, regulations and trading rules of the Shenzhen Stock Exchange. The relevant taxes and fees (including but not limited to stamp duty, business tax, handling fees, etc.) involved in this share transfer will be borne by both parties in accordance with relevant laws and regulations at a standard of 25 yuan/share. Chang Jihong promised that 2.5 million shares in this equity transfer would not be reduced within one year from the date of transfer, and the other 2.5 million shares would not be reduced within two years from the date of transfer; Chen Shaozhong promised that Chang Jihong would meet the conditions of reduction. If the transaction price is lower than 25 yuan/share, Chen Shaozhong will make up the part less than 25 yuan/share, or purchase the reduceable shares held by Chang Jihong at a price of 25 yuan/share.

The above share transfer time is planned to be implemented after February 15, 2016.

On the same day, the company received a "Letter on Not Reducing Shares in Listed Companies" from Zhongnan Heavy Industry Group, the company's controlling shareholder. Zhongnan Heavy Industry Group promised: based on its confidence in the company's sustainable development and recognition of the company's long-term investment value, and at the same time, in order to maintain the stability of the capital market, enhance investor confidence. As the controlling shareholder of Jiangyin Zhongnan Heavy Industry Co., Ltd., the Company promises not to reduce its shares in any way from the date of completion of the registration of shares transferred to Ms. Chang Jihong to the next six months.

Shareholder Wang Hui promised not to reduce his shares in the company and is full of confidence in cultural transformation

. Zhongnan Heavy Industry issued an announcement saying that he had received a "Letter on Not Reducing Shares in Listed Companies" from shareholder Wang Hui, who holds more than 5% of the shares. Wang Hui promised: Based on the company Confidence in sustainable development and recognition of the company's long-term investment value, and at the same time, in order to maintain the stability of the capital market, enhance investor confidence. As a shareholder of Jiangyin Zhongnan Heavy Industry Co., Ltd. holding more than 5% of the shares, I promise that I will not reduce my share of Jiangyin Zhongnan Heavy Industry Co., Ltd. in any way within six months from January 30, 2016.

As of the date of this announcement, Zhongnan Heavy Industry Group holds 247,869,000 shares in the company, accounting for 33.55% of the company's total shares; Wang Hui holds 67,048,722 shares in the company, accounting for 9.08% of the company's total shares.

"The History of the Cultural Transformation of Zhongnan Heavy Industry"

Mango Media, together with Zhongnan Heavy Industry, initiated the establishment of a cultural investment fund of 500 million yuan.

Mango Media invested 150 million yuan, accounting for 30% of the total, mainly invested in original content and new media

Zhongnan Heavy Industry acquired Datang Brilliant Liu Chun as chief cultural officer

. The company officially entered the dual main business track of manufacturing and cultural media.

First India Media won Zhongnan Heavy Industry's funds of 100 million yuan. The

capital increase will be used for the company's business development and film and advertising investment

Zhongnan Heavy Industry's purchase of media assets into

multi-dimensional and full-industry layout. Cultural media industry transformation cultural industry giant

Zhongnan Heavy Industry plans to acquire 870 million yuan of Weishang Interactive, 100% equity, cut

into the online game industry to further improve the layout of the big cultural industry chain, Zhongnan Heavy Industry

and Hunan Radio and Television established a cultural fund focusing on

the big cultural industry as the core, investing 510 million yuan and 500 million yuan respectively to establish" Mango Cultural Innovation"

Editor: yvonne