Ge Long Hui·2025-11-20 11:57Core Viewpoint - China Merchants Jinling (00978.HK) announced the acquisition of 100% equity in Nanjing China Merchants Qisheng Real Estate Co., Ltd. from CITIC Securities for RMB 259 million, as part of an asset-backed securities plan [1] Group 1: Transaction Details - The agreement was signed on November 20, 2025, between Nanjing Zhaoping (an indirect non-wholly-owned subsidiary of the company) and CITIC Securities, acting as the asset-backed securities plan manager [1] - The project company primarily engages in real estate project construction and development on a site located in Qixia District, Nanjing, with a total area of 65,998.44 square meters [1] - The land is designated for residential use for 70 years and commercial use for 40 years [1] Group 2: Strategic Rationale - The acquisition is driven by the expiration of the asset-backed securities plan and CITIC Securities' decision to distribute the physical assets to Nanjing Zhaoping [1] - The company is considering timely adjustments to the usage of the commercial complex to align with local government plans for community development, aiming to create a new quality commercial environment that fits local consumer patterns [1]