南京商旅参与设立文旅并购基金暨关联交易进展详细解读
一、关键信息概览
- 投资标的：南京云枢文旅强链并购股权投资基金（有限合伙）
- 投资金额：2,500万元（首期实缴出资500万元）
- 投资阶段：已完成工商注册、基金备案及首期出资
- 基金备案日期：2026年7月23日
- 管理人：南京文投股权投资管理有限公司
- 托管银行：招商银行股份有限公司
- 合伙人结构：包括控股股东南京文旅集团、控股股东子公司南京文投、非关联方南京紫金产业投资、南京高新创业投资等
二、事件详情与进展
为了深化产业与资本协同，拓宽产业投资和资产整合路径，并提升公司市场化运作与可持续发展能力，南京商贸旅游股份有限公司（简称“南京商旅”）董事会通过议案，决定以自有或自筹资金认缴2,500万元，参与设立“南京云枢文旅强链并购股权投资基金（有限合伙）”。该基金由多家单位共同发起，南京商旅为有限合伙人。
2026年6月4日，各方签署了有限合伙协议，并于6月11日完成工商注册登记，取得营业执照。至2026年7月6日前，所有投资方已完成首期出资缴付。2026年7月23日，基金在中国证券投资基金业协会完成备案登记，取得《私募投资基金备案证明》。
三、对股东及股价的潜在影响
- 战略意义：本次投资是公司深化产业协同和资本运作的重要举措，有望提升公司在文旅行业的布局和竞争力。
- 资金安排：公司采用自有或自筹资金认缴出资，显示公司有较强的资金安排能力。
- 潜在回报与风险：基金投资周期长、流动性较低，受宏观经济、行业周期、项目经营等多重因素影响，存在不能实现预期效益及无法顺利退出的风险。公司将关注基金运作并加强风险管控。
- 价格敏感因素：本次投资是与控股股东及相关企业的关联交易。若基金投资项目获得成功，将有可能为公司带来可观回报，进而利好公司股价；但如基金出现投资失利或流动性风险，亦可能对公司业绩产生不利影响。
- 信息披露：公司承诺将持续披露基金运作、管理和投资进展，保障投资者知情权。
四、公司与私募基金合作投资总体情况
截至目前，南京商旅参与设立的私募基金为本次文旅并购基金，投资金额为2,500万元，实际首期缴付500万元，相关工商及备案手续已全部完成。
五、投资者风险提示
基金投资受多重因素影响，周期长，流动性低。公司将持续关注并加强风险控制，投资者需关注相关风险，理性投资。
六、结论
本次公告涉及的文旅并购基金设立和备案进展，显示南京商旅正在积极推进产业资本协同和市场化布局。若基金运作顺利，有望提升公司业绩和市场竞争力，对公司股价构成积极影响；但同时需关注基金投资的潜在风险。
免责声明：本文章内容仅供投资者参考，不构成任何投资建议。投资有风险，决策需谨慎。请投资者关注公司后续公告及相关风险提示。
English Version
Detailed Report: Nanjing Business Tourism’s Progress in Setting Up Cultural Tourism M&A Fund and Related Transactions
1. Key Points Summary
- Investment Target: Nanjing Yunshu Cultural Tourism Industry Chain M&A Fund (Limited Partnership)
- Investment Amount: RMB 25 million (first capital paid: RMB 5 million)
- Investment Stage: Business registration, fund filing, and first capital payment completed
- Fund Filing Date: July 23, 2026
- Manager: Nanjing Cultural Investment Equity Investment Management Co., Ltd.
- Custodian Bank: China Merchants Bank Co., Ltd.
- Partnership Structure: Includes controlling shareholder Nanjing Cultural Tourism Group, its subsidiary, and non-related parties such as Nanjing Zijin Industrial Investment and Nanjing High-tech Venture Investment
2. Event Details and Progress
To deepen industry and capital synergy, broaden investment and asset integration channels, and enhance market-oriented operation and sustainable development capabilities, Nanjing Business Tourism Co., Ltd. (“Nanjing Business Tourism”) resolved to contribute RMB 25 million of self-raised or self-owned funds as a limited partner to jointly establish the “Nanjing Yunshu Cultural Tourism Industry Chain M&A Fund (Limited Partnership)” with multiple parties.
On June 4, 2026, all parties signed the partnership agreement, completed business registration on June 11, and finished the first capital contribution by July 6, 2026. The fund was officially filed with the Asset Management Association of China on July 23, 2026.
3. Potential Impact on Shareholders and Share Price
- Strategic Significance: This investment enhances the company’s industry synergy and capital operation, potentially strengthening its position in the cultural tourism sector.
- Funding Capability: The company uses its own or self-raised funds, demonstrating strong financial management.
- Potential Returns and Risks: The fund has a long cycle and low liquidity, exposed to macroeconomic, sector, and project risks. There is a risk of not achieving expected returns or timely exit. The company will closely monitor and strengthen risk management.
- Price Sensitive Factors: This is a related-party transaction. If successful, the fund could bring substantial returns and positively impact the stock price. However, if the fund underperforms or faces liquidity risk, it could negatively affect company performance.
- Information Disclosure: The company commits to ongoing disclosure of fund operations and investment developments to protect investor interests.
4. Overall Situation of Private Fund Cooperation Investment
To date, Nanjing Business Tourism has only participated in this Cultural Tourism M&A Fund, with a committed investment of RMB 25 million and an initial payment of RMB 5 million. All registration and filing procedures have been completed.
5. Investor Risk Warning
The fund investment faces many influencing factors, has a long cycle, and low liquidity. The company will closely monitor and strengthen risk control, but investors should pay attention to relevant risks and invest prudently.
6. Conclusion
The establishment and filing of this M&A fund indicate Nanjing Business Tourism is actively advancing industry-capital synergy and market-oriented strategic layout. If the fund operates smoothly, it could improve the company’s performance and competitiveness, positively impacting the stock price; however, investors should stay alert to the potential risks.
Disclaimer: This article is for reference only and does not constitute investment advice. Investments are risky; please make investment decisions cautiously and follow the company’s subsequent announcements and risk warnings.
