Core Viewpoint - China Jinmao is undergoing significant organizational restructuring to adapt to the current competitive landscape in the real estate industry, with a focus on enhancing management efficiency and internal competition [2][3][10]. Organizational Changes - The new management team, led by Chairman Tao Tianhai, has implemented a major restructuring by eliminating the regional level and transitioning from a three-tier to a two-tier management structure [3][10]. - The company has appointed new leaders for its 14 city companies, maintaining a stable transition with a focus on promoting internal talent [4][5]. Performance Overview - China Jinmao's sales figures have fluctuated, with a peak of 235.6 billion in 2021, dropping to 141.2 billion in 2023 and further declining to 98.255 billion in 2024 [6][10]. - The company has seen its ranking improve from 15th in 2021 to 12th in 2024, but it has not matched the performance of leading competitors during the industry downturn [6][10]. Market Strategy - The company aims to return to core cities and high-end markets, leveraging its brand strengths and historical focus on premium products [8][10]. - Recent investments have increased, with a reported 20.2 billion in land acquisition expenditures in 2024, focusing on first and second-tier cities [11][12]. Future Outlook - Management anticipates a sales target of approximately 180 billion for 2025, with a focus on optimizing product offerings and maintaining a competitive ranking [11][12]. - The restructuring is seen as a critical step for enhancing organizational capabilities, which will be essential for competing in the evolving real estate market [10][12].