Core Viewpoint - Dalian Wanda's subsidiary, Dalian Wanda Commercial Properties, will officially delist from the Hong Kong Stock Exchange after 12 years of listing, as part of a strategic move to optimize its corporate governance and structure [1][2]. Group 1: Company Overview - Dalian Wanda Commercial Properties was listed on the Hong Kong Stock Exchange in 2013 and is a commercial real estate platform under COFCO Group, focusing on the development, operation, and management of urban complexes branded as "Dalian Wanda" [2]. - The company operates four main business segments: investment properties, property development, hotel operations, and management services [2]. Group 2: Transaction Details - On July 31, 2025, Dalian Wanda announced plans to repurchase shares of Dalian Wanda Commercial Properties through an agreement, with a total repurchase cost of approximately HKD 29.32 billion [2]. - The shareholding structure before the agreement was 64.18% for Dalian Wanda, 2.58% for De Mao, and 33.24% for other shareholders. Post-agreement, Dalian Wanda's stake will increase to 96.13%, while De Mao's will decrease to 3.87% [1]. Group 3: Financial Performance - In 2024, Dalian Wanda Commercial Properties reported a revenue of CNY 19.831 billion, a net profit attributable to shareholders of CNY 779 million, total assets of CNY 106.771 billion, and total liabilities of CNY 73.578 billion [2]. Group 4: Strategic Rationale - The transaction is seen as a strategic response to market fluctuations and aims to enhance the company's governance framework and integrate its organizational and shareholding structure [2]. - The completion of this transaction is expected to increase the company's equity in Dalian Wanda Commercial Properties, benefiting its net profit attributable to shareholders [2].