Core Viewpoint - Beijing Urban Development Group and Beijing Construction Investment Development Co. are divesting their stakes in Beijing Science and Technology Park Construction Group, indicating a strategic shift amid declining performance and changing market conditions [1][10]. Group 1: Company Background - Beijing Science and Technology Park Construction Group, established in 1999, is a state-owned enterprise known for developing the Zhongguancun Science Park and focusing on industrial park operations and technology real estate [1][2]. - The company has four major shareholders, with Beijing State-owned Assets Management Company holding 69.93% as the largest shareholder, followed by Jiangsu Bank Suzhou Branch at 17.45% [3]. Group 2: Recent Developments - The divestment by the two state-owned enterprises aims to optimize asset structure and resource allocation, reflecting a broader trend of state-owned enterprises focusing on core business areas [1][10]. - The financial performance of Beijing Science and Technology Park Construction Group has been declining, with a reported revenue of 70.67 billion yuan in 2024, down 5.99% year-on-year, and a net loss of 54.02 billion yuan [10]. Group 3: Market Context - The real estate market has undergone significant adjustments, impacting the company's performance, particularly as its real estate operations are a major revenue source [10]. - The company has faced challenges in land acquisition and project development, with its last public land acquisition occurring in March 2024 for 2.35 billion yuan [9][10]. Group 4: Future Outlook - The exit of the two shareholders may lead to a restructuring of the company, focusing on park operations and light asset services, aligning with the current policy direction for state-owned enterprises to streamline operations [11].