大悦城地产拟退市

Core Viewpoint - Daxuecheng Real Estate (0207.HK) plans to privatize and delist by repurchasing shares at a price of HKD 0.62 per share, totaling approximately HKD 29.32 billion [1][6][3] Group 1: Privatization Details - The repurchase will be conducted through an agreement with all shareholders except Daxuecheng and Demao [6] - After the agreement, Daxuecheng's shareholding will increase from 64.18% to 96.13%, while Demao's will decrease from 2.58% to 3.87% [6] - The current market price of Daxuecheng Real Estate before suspension was HKD 0.37, with a market capitalization of HKD 52.7 billion [7] Group 2: Strategic Implications - The transaction aims to enhance Daxuecheng's equity in Daxuecheng Real Estate, potentially increasing the company's net profit attributable to shareholders [7][12] - The deal is part of a strategic move to optimize corporate governance and integrate organizational and equity structures, improving decision-making efficiency [11][12] - Daxuecheng Real Estate operates urban complexes under the Daxuecheng brand and has a presence in major city clusters across China, managing 32 commercial projects and several luxury hotels [11] Group 3: Financial Performance - Daxuecheng reported a net profit of between HKD 80 million and HKD 120 million for the first half of 2025, marking a return to profitability [12] - Long-term performance has been under pressure, with significant declines in net profit since 2020, and losses recorded from 2022 onwards [13]