最大地产重整案即将收官，昔日千亿房企易主

Core Viewpoint - *ST Jinke has undergone a significant restructuring process, resulting in a change of control from Jinke Holdings to new investors, marking a pivotal moment in the company's history and the broader real estate industry [1][5][6]. Group 1: Restructuring Details - On September 22, *ST Jinke announced the transfer of 3 billion shares to restructuring investors, changing its controlling shareholder to Jingyu Xingzhu and Jingyu Xingcan, with no actual controller [1]. - The restructuring plan, approved in May, involves a debt scale of 147 billion yuan, making it the largest restructuring case in the real estate sector to date [1][7]. - The restructuring investors include Shanghai Pinqi Consortium, China Great Wall Asset, and Sichuan Development Securities Fund, who will become the new controlling shareholders and implement comprehensive adjustments to the company [6][8]. Group 2: Historical Context - Founded in 1998, Jinke quickly grew to become the largest real estate company in Southwest China, achieving sales of 184 billion yuan in 2021 [3]. - The company faced a debt crisis at the end of 2022, leading to its decision to enter restructuring as a solution to its financial problems [5][9]. - Jinke became the first large-scale national listed real estate company in A-shares to enter restructuring, highlighting its significance in the industry [5][7]. Group 3: Management Changes - The upcoming board of directors' election will allow the Shanghai Pinqi Consortium to nominate seven board members, indicating a shift in governance [1][10]. - Founder Huang Hongyun, who has led the company for 27 years, is likely to lose control, marking a significant transition in leadership [1][9]. - The existing management team, appointed by Huang, has maintained stability during the crisis, which may influence the restructuring's success [9][10].