Core Viewpoint - The recent related party transaction by Ruian Real Estate, involving the sale of a luxury property at a significantly lower price than the current market rate, raises concerns about pricing discrepancies in the real estate market and the implications for corporate governance [1][3]. Group 1: Transaction Details - Ruian Real Estate sold a 213.91 square meter residential unit in Shanghai for 30.5 million yuan, equating to approximately 142,600 yuan per square meter [1]. - The property is part of the high-end "Cuihu Tiandi" project, which has a historical average opening price of 165,000 yuan per square meter [1][2]. - The transaction price was determined based on government-approved pricing, adhering to the "one house, one price" policy [1]. Group 2: Market Comparison - Recent transactions in the same area show a stark contrast, with a high-floor unit of 359 square meters selling for approximately 300,000 yuan per square meter [3]. - Current listings on the Beike platform indicate that similar properties are priced around 280,000 yuan per square meter, suggesting a market valuation of about 59.89 million yuan for the unit sold to the executive's family [3][4]. - The price difference indicates a potential profit of nearly 30 million yuan for the buyer if the property is resold at market rates [4]. Group 3: Industry Context - The phenomenon of price discrepancies between new and second-hand properties is common, influenced by government pricing controls and market demand [4]. - The concept of "price difference dividends" has emerged, encouraging buyers to acquire limited-price new homes for potential resale profits [4]. - Ruian Real Estate's recent financial performance shows a revenue of approximately 2.074 billion yuan for the first half of 2025, with a 29% decrease in net profit [6].