June 26，Songcheng Performing Arts received a letter of concern from the Shenzhen Stock Exchange，Require the company to provide a detailed explanation of the proposal to use no more than 2 billion yuan of funds to invest in securities and financial 188bet app download。

As understood，Previously (June 21) the Songcheng Performing Arts Board of Directors reviewed and approved the "Proposal on Using Idle Own Funds to Invest in Securities and Financial Management Products"，Plans to use idle self-owned funds to invest in securities and financial products (188bet app download scope includes new stock allotment or subscription、Purchase bank financial products、Trust products、Fund products、Stock、Bonds and other 188bet app download activities recognized by Shenzhen Stock Exchange)，The quota shall not exceed RMB 2 billion，Funds within this limit can be used on a rolling basis，The period of use is valid for 2 years from the date of approval by the board of directors，And authorize the company’s management to exercise 188bet app download decision-making power within this quota。

In related announcement，Songcheng Performing Arts stated: The company’s use of idle self-owned funds to invest in securities and financial 188bet app download is implemented under the premise of ensuring that it does not affect the normal development of the main business，Does not affect the company’s normal daily capital turnover needs；Based on full estimates and calculations of securities investments and financial 188bet app download，Companies using idle self-owned funds to invest in securities and financial 188bet app download can improve the efficiency of capital use，Realizing asset value preservation and appreciation，In the interests of all shareholders。

This time, the Shenzhen Stock Exchange requires Songcheng Performing Arts to explain the following issues and respond before June 28:

1、Whether there are specific limits on securities 188bet app download other than financial products，Whether the company has 188bet app download stocks、Bond、188bet app download experience in fund products，Whether the company has an 188bet app download team and 188bet app download capabilities suitable for the 188bet app download scale，Is the 188bet app download risk reasonable?、Controllable。

2、The company’s 2018 annual report shows that the monetary capital is 15.500 million yuan，The first quarter report of 2019 shows monetary funds 20.0.8 billion yuan，Net cash flow from operating activities in 2018 is 16.4.7 billion yuan。Please combine the cash situation of operating activities、188bet app download and financing arrangements, etc. explain whether 188bet app download in securities and financial products affects the company’s normal operations，Have the risks been fully disclosed。Also，If the company has carefully considered it，Those who still decide to carry out the aforementioned 188bet app download，Strict decision-making procedures should be developed、Reporting system and risk monitoring measures，Determine the 188bet app download scale and term based on the company’s risk tolerance。