7月31日，大悦城控股集团股份有限公司（以下简称大悦城）发布公告称，其控股子公司大悦城地产有限公司（以下简称大悦城地产） 拟通过协议安排方式回购股份，并向香港联交所申请撤销上市地位，正式启动私有化程序。 大悦城地产于8月1日正式复牌，截至当日收盘股价报0.54港元，单日涨幅45.95%。 | 大悦城地产 | | | | | | | --- | --- | --- | --- | --- | --- | | HK0207 HK L1 | | | | | | | 0.540 市值 75.42亿 量比 | 0.72 | 高 | | | | | 0.530 | 流通 75.42亿 换 | 0.68% | 0.520 | ਜ਼ਿੰ | | | -0.010 -1.85% 开 | 0.540 市盈™ 亏损 额 5085.7万 | | | | | | 分时 | 月K | 日K | 五日 | 更多, (0) | | | 均价:0.529 最新:0.530 -0.010 -1.852% | 0.560 | | | | | | 3.70% | | | | | | | 로 | | | | | | 8月4日走低，当日收盘报0.53港 ...

Core Insights - The commercial market is witnessing significant ownership changes, with notable transactions involving major players like Wanda and Beijing SKP, indicating a shift in market dynamics and strategic transformations within management companies [1][8]. Group 1: Major Transactions - As of 2025, 53 Wanda Plaza locations have changed ownership, with transactions expected to generate approximately 3.5 to 4 billion yuan for Wanda [2][3]. - The acquisition of Beijing SKP by the Boyu Phase V US Dollar Fund has been approved, with the transaction completed on May 19, 2023, although the specific financial details remain undisclosed [9][8]. - The total area of the 48 Wanda Plaza locations involved in recent transactions exceeds 7.8826 million square meters, highlighting their commercial value and brand premium [5]. Group 2: Development Projects - The Yangzhou Y-MSD project, covering an area of 51,000 square meters, is set to be transferred to Tianjin TEDA Asset Management for 2.593 billion yuan, focusing on high-end commercial and mixed-use developments [12]. - The Shanghai Chenghuangmiao Square project, previously in bankruptcy, was acquired for 1.209 billion yuan, indicating potential revitalization of previously stalled developments [18]. Group 3: Market Trends - The trend of ownership changes reflects a broader strategy of asset optimization and capital recovery among major commercial players, with a focus on enhancing operational efficiency and market positioning [1][29]. - The emergence of REITs in the commercial real estate sector is enhancing the liquidity and value realization of quality assets, indicating a growing integration between commercial real estate and capital markets [27][29].