Core Viewpoint - The privatization of Joy City Property by Joy City Holdings aims to optimize its real estate business strategy and enhance operational efficiency through resource integration and improved decision-making processes [1][4]. Group 1: Privatization Details - Joy City Holdings announced a cash offer of HKD 0.62 per share for the privatization of Joy City Property, totaling approximately HKD 29.32 billion [1][2]. - Following the privatization, Joy City Holdings will own 96.13% of Joy City Property, while its parent company, COFCO Group, will hold the remaining 3.87% [2]. - Joy City Property plans to apply for the cancellation of its listing status on the Hong Kong Stock Exchange after the privatization [3]. Group 2: Financial Performance - As of the end of 2024, Joy City Property is projected to achieve revenues of CNY 19.831 billion and a net profit attributable to shareholders of CNY 779 million, with total assets of CNY 106.771 billion and net assets of CNY 16.242 billion [3]. Group 3: Strategic Implications - The privatization is seen as a critical optimization of Joy City Holdings' overall strategic layout during a period of deep adjustment in the real estate industry [3]. - The move is intended to enhance asset coordination capabilities and unlock synergies across various business segments, thereby injecting new momentum into the company's long-term development [3][4]. - The privatization plan is subject to several conditions, including approvals from Joy City Property's special shareholders' meeting and relevant regulatory authorities [4].