According to the Zhitong Finance App, *ST Mingcheng (600136.SH) disclosed the draft restructuring plan. Contemporary Culture and Sports is a listed company that publicly issues A-shares on the Shanghai Stock Exchange, with film and television, cinema investment and management, sports copyright distribution, sports marketing, and sports brokerage as the core, stock code: 600136, stock abbreviation: *ST Mingcheng. According to this restructuring plan, if contemporary culture and sports can successfully implement the restructuring:

1. The legal entity status, corporate nature, and securities market entity status of contemporary culture and style remain unchanged; it is still a limited company listed on the Shanghai Stock Exchange. 2. Contemporary Culture and Sports currently has a total share capital of 583,093,123 shares. Capital reserves were transferred to share capital at a ratio of 25 shares for every 10 shares. A total of 1,457,732,808 shares were transferred. After the transfer, the total share capital of Contemporary Culture and Sports will increase from 583,093,123 shares to 2,040,825,931 shares. Of the aforementioned stock transfers, 612,043,697 shares will be conditionally transferred by restructuring investors, and 845,689,111 shares will be used to settle contemporary cultural and cultural debt in the form of stock offsetting. 3. Through this restructuring, investors will be introduced to conditionally transfer 612,043,697 shares. Based on the total share capital after contemporary cultural restructuring, the shareholding ratio of restructured investors is 29.99%. 4. Secured property claims receive priority cash compensation within the assessed value of the secured property. If the assessed value of the encumbered property is insufficient to satisfy the corresponding secured property claim, the unsatisfied portion is settled as an ordinary claim. 5. Employee claims and tax claims will be paid in full in one time in cash during the execution period of this restructuring plan.

6. Ordinary claims are based on creditors. The portion of each creditor's ordinary claim amount of less than 1 million yuan (including 1 million yuan) will be settled once by contemporary culture and style in cash during the execution period of this restructuring plan. The portion exceeding 1 million yuan will be settled according to the following method: (1) Each ordinary creditor receives about 8.68 shares for every 100 yuan of common claims (the final number of shares distributed is based on the actual registration confirmation of the China Securities Depot Shanghai Branch. If the number of shares appears in a decimal place, the number on the right side of the decimal point of the number of shares to be distributed is removed and “1” is added to the single digit). The debt settlement price of the stock is 10.84 yuan/share; (2) Each common creditor receives about 5.81 shares of equity benefits per 100 yuan of debt.

After the implementation of this restructuring plan is completed, the claims of all creditors will be effectively settled, and the company's financial situation will be fundamentally improved. While reducing the burden of debt, through the introduction of restructuring investors, the company can effectively improve operating efficiency and profitability, minimize the risk of delisting and even bankruptcy and liquidation, and effectively protect the interests of all investors.