SHCD(SH:603887) Zheng Quan Shi Bao Wang·2024-10-21 11:24Group 1 - The core point of the news is that Chengdi Xiangjiang (603887) has seen a significant increase in stock price following the announcement of a proposed private placement and change of control to the State-owned Assets Supervision and Administration Commission (SASAC) [1] - Since its resumption of trading on October 15, the stock has risen over 60%, closing at 11.89 yuan per share, with a market capitalization of 5.522 billion yuan [1] - The company is in the process of issuing shares to China Power Consulting Group Beijing Smart Computing Co., Ltd. (referred to as "China Smart Computing"), which will hold 23.08% of the company post-issuance [1] Group 2 - Chengdi Xiangjiang's revenue for 2023 is reported at 2.37 billion yuan, a year-on-year decrease of 11.67%, with a net loss of 621 million yuan, marking a shift from profit to loss [2] - The company attributes its losses to increased credit impairment and a sharp contraction in real estate-related business, alongside ongoing investments in IDC operations that have not yet generated revenue [2] - The company has shifted focus away from real estate, with its foundation and construction services contributing less than 5% to overall revenue in the first half of 2024 [2]