Core Viewpoint - Gree Real Estate (600185) is undergoing a significant change in its controlling shareholder structure, with Zhuhai Investment Holding Co., Ltd. transferring 100% of its shares to Huafa Group, which will indirectly control 44.95% of Gree Real Estate's shares [1] Group 1: Shareholder Structure Change - The transfer of 100% equity of Zhuhai Investment Holding Co., Ltd. to Huafa Group is a key development in Gree Real Estate's ownership structure [1] - This acquisition allows Huafa Group to gain indirect control over Gree Real Estate, enhancing its influence in the real estate sector [1] Group 2: Business Transition - The equity transfer is viewed as a crucial step for Gree Real Estate to accelerate its exit from the real estate development business [4] - Gree Real Estate has been facing continuous losses since 2022 due to the deep adjustment in the real estate industry [4] - The company plans to change its name to "Zhuhai Zhuhai Mian Group Co., Ltd." and shift its business focus from real estate development to duty-free goods sales and general projects [4] Group 3: Huafa Group Overview - Huafa Group, established in 1986, has developed a business structure centered around three major industry clusters: technology, urban development, and finance [3] - The urban development cluster includes urban operations, real estate development, commercial services, and modern services [3] - Huafa Group is recognized as the largest comprehensive state-owned enterprise group in Zhuhai, with significant advantages in real estate, finance, and urban operations [5]