Group 1 - Two state-owned shareholders, Beijing Urban Development Group and Beijing Urban Construction Investment Development Co., are transferring their stakes in Beijing Technology Park Construction (Group) Co., Ltd. [1] - Beijing Technology Park Construction Group, established in 1999, is known for developing the Zhongguancun Science Park and focuses 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% and Jiangsu Bank Suzhou Branch holding 17.45% [1] Group 2 - Beijing Technology Park Construction Group has reported continuous losses in recent years, with a revenue of 7.067 billion yuan in 2024, down 5.99% year-on-year, and a net loss of 5.402 billion yuan [2] - The transfer prices for the two shareholders are set at 282 million yuan and 103 million yuan, corresponding to a company valuation of approximately 3.05 billion yuan, indicating a decrease compared to the last year's net asset value of 6.45 billion yuan [2] Group 3 - A new company, Zhejiang Zhezi Science and Technology Industry Integration Development Co., Ltd., has been established with a registered capital of 4 billion yuan, focusing on technology services and investment activities [3] - The company is jointly owned by six state-owned enterprises, including Zhejiang State-owned Capital Operation Co. and Zhejiang Energy Capital Holdings Co. [3]

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][2][11]. 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][4]. - The company has four major shareholders, with Beijing State-owned Assets Management Company holding 69.93%, followed by Jiangsu Bank Suzhou Branch at 17.45%, and the two divesting shareholders, Beijing Urban Development and Beijing Construction Investment, holding 3.38% and 9.24% respectively [5][11]. Group 2: Recent Developments - The divestment aims to optimize asset structure and resource allocation, enhancing operational efficiency as stated by the divesting shareholders [1][2]. - The 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 [11]. Group 3: Market Context - The divestment occurs against a backdrop of new requirements for state-owned enterprises in Beijing and a significant downturn in the real estate market, marking a critical juncture for the company [2][11]. - The exit of the two state-owned shareholders reflects a broader trend of state-owned enterprises focusing on core businesses and reducing involvement in less efficient operations, aligning with the directive from the State-owned Assets Supervision and Administration Commission [11].