每周股票复盘：珠免集团（600185）拟55.18亿出售格力房产100%股权

Core Viewpoint - Zhuhai Duty Free Group (珠免集团) is undergoing a significant asset sale and related party transaction, selling 100% equity of Zhuhai Gree Real Estate Co., Ltd. for 551,753.65 million yuan, aiming to focus on its core duty-free business and enhance operational quality and profitability [1][2][4]. Company Announcement Summary - The board of directors approved the major asset sale and related party transaction, which requires shareholder approval [1][2]. - The transaction is expected to optimize the company's asset structure and improve profitability, with a focus on the duty-free business [4][5]. - The independent directors confirmed the fairness of the transaction pricing and compliance with legal procedures [2][5]. Transaction Details - The transaction price for the sale of Gree Real Estate is set at 551,753.65 million yuan, constituting a major asset restructuring and related party transaction [1][4]. - The evaluation of the asset was based on the asset-based method, with a valuation date of July 31, 2025, and a determined value of 551,753.65 million yuan [2][6]. - The company has no other major asset transactions in the past 12 months aside from this significant asset exchange [5][7]. Financial Impact - Post-transaction, the company's net profit for 2024 is projected to improve significantly from a loss of 15.15 billion yuan to a loss of 0.92 billion yuan, with a turnaround to profitability in the first seven months of 2025 [5][7]. - The transaction is structured as a cash transfer and does not involve the issuance of shares, ensuring no dilution of immediate returns [5][6]. Compliance and Regulatory Aspects - The transaction is subject to approval from state-owned assets departments and the shareholders' meeting [5][6]. - The company has confirmed that there are no violations or illegal activities related to the real estate projects involved in the transaction [3][6]. - The independent financial advisor, Guotai Junan Securities, has verified that the transaction complies with relevant regulations and does not constitute a restructuring listing [6][7].