Zhi Tong Cai Jing·2025-11-20 12:11Core Viewpoint - China Merchants Jinling (00978) announced the transfer of 100% equity of Nanjing China Merchants Qisheng Real Estate Co., Ltd. from CITIC Securities to Nanjing Zhaoping for a value of RMB 259 million, as part of an asset-backed securities plan [1][2] Group 1 - The equity transfer agreement was signed on November 20, 2025, between Nanjing Zhaoping and CITIC Securities, with CITIC acting as the plan manager for the asset-backed securities [1] - The project company, established on August 4, 2024, focuses on real estate project construction and development on a site of 66,000 square meters in Nanjing, Jiangsu Province [1] - The land designated for residential use has a term of 70 years, while the commercial use term is 40 years [1] Group 2 - The primary reason for the equity acquisition is the expiration of the asset-backed securities plan and CITIC Securities' decision to proceed with the final physical distribution to Nanjing Zhaoping [2] - 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 high-quality commercial environment that fits local consumer patterns [2]