Core Viewpoint - The article highlights that major listed real estate companies are increasingly utilizing financial tools, such as public REITs and insurance capital, to revitalize their commercial assets and transition towards a "light asset operation" model [1][3]. Group 1: Company Actions - Ruian Real Estate announced a transaction involving the transfer of 100% equity in its subsidiaries, resulting in a total consideration of approximately 3.49 billion yuan, with a net cash inflow of about 683 million yuan for operational funding [1][2]. - China Overseas Development plans to list its Nanhai Yingyuehu Huanyu City project in Foshan through a public infrastructure REIT, aiming to raise 1.355 billion yuan [2][3]. Group 2: Industry Trends - The trend of utilizing REITs for asset securitization indicates a new phase in the "light asset transformation" of real estate companies, allowing them to shift from asset holders to investment participants and operators [3]. - The expansion of the REITs market has encouraged various real estate firms to actively participate in public REIT issuance, enhancing their financial flexibility and operational sustainability [3].