Di Yi Cai Jing·2025-10-21 12:54Core Viewpoint - Zhuhai Duty-Free Group plans to transfer 100% equity of Zhuhai Gree Real Estate Co., Ltd. to Zhuhai Toujie Holdings Co., Ltd., which is expected to constitute a major asset restructuring as per regulations [1] Group 1: Major Asset Restructuring - The transaction is anticipated to be a significant asset restructuring that will not change the company's controlling shareholder or actual controller [1] - The company has completed a major asset swap, acquiring 51% equity of Zhuhai Duty-Free Enterprise Group and disposing of 100% equity of five real estate subsidiaries outside Zhuhai [3] - The company aims to focus on the duty-free business and the broader consumer sector, planning to exit the real estate business entirely within five years [3] Group 2: Strategic Focus and Development - The company intends to accelerate the completion of its commitment to divest from real estate, thereby concentrating on its core duty-free business [3] - Future strategy will target the consumer sector, aiming to establish a large consumer industry group based in the Guangdong-Hong Kong-Macao Greater Bay Area and expanding nationally and internationally [3] - The transaction is expected to lower the company's asset-liability ratio, optimize asset structure, and enhance operational efficiency [3] Group 3: Transaction Status - The transaction is still in the planning stage and requires further verification and negotiation, along with necessary internal and external decision-making and approval processes [4] - No intention agreement has been signed with the counterparty or related parties regarding the transaction [4] - The company will properly resolve any outstanding payments with Gree Real Estate before the transaction is completed [4] Group 4: Market Reaction - As of the latest closing, Zhuhai Duty-Free Group's stock rose by 2.29%, reaching a price of 6.25 yuan, with a market capitalization of 11.8 billion yuan [5]