TJRD(SH:600322) Xin Jing Bao·2025-10-31 14:46Core Viewpoint - The article discusses the trend of real estate companies divesting their development businesses, highlighting Tianjin Jintou Urban Development Co., Ltd.'s decision to transfer its real estate development assets and liabilities to Tianjin Urban Operation Development Co., Ltd. for a nominal price of 1 yuan, reflecting broader industry challenges and shifts in strategy [2][3][10]. Group 1: Company Actions - Tianjin Jintou Urban Development plans to divest its real estate development business while retaining property management and related services, indicating a strategic shift towards lighter asset operations [2][4]. - The company initially intended to restructure its assets through swaps and cash payments but later revised its plan to focus solely on the sale of its real estate development assets [3][4]. - The assessed value of the divested assets is approximately -239 million yuan, with the transaction price set at 1 yuan, indicating significant financial pressure [3][4]. Group 2: Industry Trends - Since 2020, a total of 12 companies have announced their exit from real estate development, reflecting a significant trend in the industry as firms seek to mitigate performance pressures [5][10]. - The divestment trend is driven by three main factors: market adjustments leading to performance pressures, the need to reduce debt and optimize financial structures, and a re-evaluation of capital market valuations [10]. - Notable companies such as China Communications Construction Company and Gree Real Estate have also engaged in similar divestments, with their stock prices rising significantly post-announcement [10].