Core Viewpoint - Zhuhai Duty-Free Group announced the transfer of 100% equity in Zhuhai Gree Real Estate Co., Ltd. to Zhuhai Toujie Holdings Co., Ltd. as part of a major asset restructuring, which will not change the company's controlling shareholder or actual controller [2][8]. Group 1: Major Asset Restructuring - The transaction will be conducted in cash and is expected to constitute a significant asset restructuring [2][8]. - The company aims to accelerate the completion of its commitment to divest from real estate operations and focus on the duty-free business and large consumption sectors [7][8]. - The Zhuhai Municipal Government's State-owned Assets Supervision and Administration Commission has provided preliminary approval for the transaction [7]. Group 2: Financial Performance - For the first half of 2025, the company reported a revenue of approximately 1.74 billion yuan, a decrease of 45.62% year-on-year, and a net loss of 274 million yuan, an improvement from a loss of 554 million yuan in the previous year [10]. - The duty-free business generated revenue of 1.131 billion yuan and a net profit of 391 million yuan, contributing positively to the company's overall financial situation [10]. Group 3: Strategic Focus - The company is transitioning its strategic focus to "duty-free + commercial management + trade," aiming to establish itself as a leading consumer operation and commercial group in China [10]. - The company is also enhancing its digital transformation by collaborating with Alibaba Cloud and Intime Commercial Group to create an integrated smart new retail platform [11].

Core Viewpoint - Zhuhai Duty-Free Group announced the transfer of 100% equity in Zhuhai Gree Real Estate Co., Ltd. to Zhuhai Toujie Holdings Co., Ltd. for cash, marking a significant asset restructuring that will not change the company's controlling shareholder or actual controller [1][5]. Group 1: Major Asset Restructuring - The transaction is expected to accelerate the company's exit from real estate, allowing it to focus on its core duty-free business and large consumption sectors [5][6]. - The company has received preliminary approval from the Zhuhai Municipal Government's State-owned Assets Supervision and Administration Commission to initiate the transaction [5][6]. Group 2: Financial Performance - For the first half of 2025, the company reported a revenue of approximately 1.74 billion yuan, a decrease of 45.62% year-on-year, and a net loss of 274 million yuan, an improvement from a loss of 554 million yuan in the same period last year [7]. - The duty-free business generated revenue of 1.131 billion yuan and a net profit of 391 million yuan, contributing positively to the company's overall financial situation [7]. Group 3: Strategic Focus - The company aims to build a leading domestic consumption operation and commercial group centered around duty-free business, with a comprehensive layout across various consumption channels [7]. - The company is also enhancing its digital transformation by collaborating with Alibaba Cloud and Intime Commercial Group to create an integrated smart new retail platform [8].