Core Viewpoint - The company has released its third-quarter financial report for 2025, highlighting key operational data and financial metrics, including adjustments in accounting practices and ongoing financial transactions with related parties [19][20]. Financial Data - The company reported a total of 47 real estate asset management projects under management as of September 30, 2025, a decrease of 9 projects from the beginning of the year [20]. - The fund scale under management is 21.98 billion RMB, down by 0.182 billion RMB from the start of the year, while the asset scale increased to 47.33 billion RMB, up by 0.416 billion RMB [20]. - The company generated total operating income of 506 million RMB from property leasing in the first nine months of 2025 [20]. Non-Recurring Gains and Losses - The company recognized a compensation income of 27.303 million RMB from a settlement agreement related to a rental dispute [5]. - The report includes details on non-recurring gains and losses, emphasizing the importance of accurate classification of financial items [5]. Shareholder Information - The company disclosed a plan for major shareholders to reduce their holdings, with a maximum of 14,996,854 shares to be sold, representing up to 1% of the total share capital [7]. - The company has completed the principal and interest payment for its publicly issued bonds, totaling 660.87 million RMB [8]. Governance Changes - The company has decided to abolish its supervisory board, transferring its responsibilities to the audit and risk management committee of the board [10]. - A new board secretary has been appointed, with the previous secretary transitioning to other roles within the company [46][50]. Related Party Transactions - The company has entered into financial assistance agreements with related parties, including a borrowing agreement with Shanghai Anwei, allowing for a total borrowing of up to 990 million RMB [9][13]. - The company plans to renew its daily related party transaction agreements, which are expected to continue for another three years [54][57]. Upcoming Events - The company will hold its eighth extraordinary general meeting on November 17, 2025, to discuss various proposals, including the renewal of related party agreements [23][28].