Core Viewpoint - The real estate industry is undergoing significant pressure due to financing constraints and shrinking profit margins, prompting companies like Nanguo Real Estate to shift from "heavy asset development" to "light asset operation" [1][2] Group 1: Strategic Shift - Nanguo Real Estate plans to divest its loss-making real estate development business and focus on commercial and industrial operations, which are lighter asset businesses [2] - The divested assets are primarily high-debt and cyclical projects, transferred to the controlling shareholder, China Electric Power Construction Real Estate, to alleviate debt pressure and optimize the balance sheet [2] - This strategic move is not merely a reactive measure but a proactive adjustment towards building a sustainable business model [2][3] Group 2: Future Development Advantages - Post-asset sale, Nanguo Real Estate will become a light asset operation platform, benefiting from the strong support and synergy from its controlling shareholder [4] - The company has accumulated professional capabilities and brand value over the years, establishing a mature "big operation system" with various operational projects across commercial, industrial, and long-term rental sectors [5] - Nanguo Real Estate aims to become a comprehensive urban operation service provider covering multiple fields, leveraging its experience in urban renewal projects [5] Group 3: Market Response and Valuation - Companies that have shifted focus to light asset operations have generally experienced valuation recovery, characterized by low leverage, cyclical resilience, and stable cash flow [6] - Analysts suggest that Nanguo Real Estate, after completing its major asset divestiture and focusing on light asset operations, is likely to follow a similar path of value re-evaluation as seen in other companies [6]