珠免集团：加快去地产化，拟将持有的格力房产100%股权转让至投捷控股

Core Viewpoint - Zhuhai Zhimian Group Co., Ltd. (Zhimian Group) is planning a significant asset restructuring involving the transfer of 100% equity in Zhuhai Gree Real Estate Co., Ltd. to Zhuhai Toujie Holdings Co., Ltd. This transaction is expected to be a cash deal and will not change the company's controlling shareholder or actual controller [2][3]. Group 1: Transaction Details - The transaction is classified as a major asset restructuring under the regulations of the Management Measures for Major Asset Restructuring of Listed Companies [2]. - The counterparty, Toujie Holdings, is a state-owned enterprise with a registered capital of 99 million yuan, primarily engaged in corporate headquarters management, investment activities, and asset management services [2]. - The transaction constitutes a related party transaction due to the involvement of Zhimian Group's director and senior management personnel, Ma Zhichao, who is also a director at Toujie Holdings [2][3]. Group 2: Business Transformation - Zhimian Group, formerly known as Gree Real Estate, has undergone a strategic transformation to focus on duty-free business and large consumer sectors, with a commitment to divest from real estate operations [3][4]. - The company reported a main business revenue of 5.201 billion yuan in 2024, with duty-free goods sales accounting for 2.441 billion yuan, representing 46.94% of total revenue [3]. - The restructuring aims to accelerate the company's exit from real estate, optimize its asset structure, and enhance operational efficiency, aligning with its strategy to become a major player in the large consumer industry [4]. Group 3: Future Outlook - The transaction is still in the planning stage and requires further validation and negotiation, along with necessary internal and external approvals [4]. - If successfully completed, the transaction is expected to lower the company's debt-to-asset ratio and improve overall business performance [4]. - As of October 21, the stock price of Zhimian Group was 6.25 yuan per share, reflecting a 2.29% increase [5].