Core Viewpoint - The company, Huafa Group, announced the acquisition of seven commercial land parcels in the Qianhai Ice and Snow World project by the Shenzhen government for a total of 4.405 billion RMB, aiming to revitalize stagnant assets and mitigate liquidity risks [2][8]. Group 1: Project Overview - The Qianhai Ice and Snow World project is located in the Bao'an Airport New City Comprehensive Area of Shenzhen and features a large indoor ski resort, deep diving base, office complexes, hotels, and various commercial spaces [4][15]. - The project encompasses a total area of approximately 430,000 square meters, with a planned gross floor area of about 1.3107 million square meters [15]. Group 2: Financial Implications - The transaction is expected to result in a loss exceeding 50% of the company's audited net profit for 2024, which was reported at 951 million RMB, down 48.2% year-on-year [8]. - The company reported a revenue of 59.99 billion RMB for 2024, a decrease of 16.8% compared to the previous year [8]. Group 3: Government's Role and Market Context - The government’s decision to reclaim the land is seen as a necessary measure to maintain the value of state-owned assets, especially in light of difficulties in developing commercial and office projects [6]. - The project has faced challenges in construction, with some structures incomplete and the area exhibiting signs of stagnation [10][11].