Core Viewpoint - The sale of BFC Bund Financial Center by Fosun indicates a strategic shift away from real estate investments by the company, as its founder Guo Guangchang's wealth has significantly decreased over the years [1][24]. Group 1: Asset Sale Details - Fosun has listed the BFC Bund Financial Center for sale, with a recent transaction involving a major Chinese telecommunications company purchasing over 6,000 square meters at a price exceeding 130,000 yuan per square meter [3][4]. - The BFC Bund Financial Center has seen a price increase, with recent sales reflecting a 13% rise in unit price compared to previous transactions [4]. - The center includes two super-grade office buildings and three standalone office buildings, with total asking prices exceeding 8.537 billion yuan for the residential and standalone properties alone [5][8]. Group 2: Historical Context - The BFC Bund Financial Center was originally a highly contested project among four major real estate figures, including Guo Guangchang, Pan Shiyi, and others, highlighting the competitive nature of the real estate market in Shanghai [8][20]. - The project was acquired in 2010 for 9.22 billion yuan, marking it as one of the most expensive land deals in Shanghai at the time [9]. - A legal battle ensued over ownership stakes, with Guo Guangchang ultimately regaining full control of the BFC after a series of complex negotiations and transactions [17][20]. Group 3: Strategic Shift - Guo Guangchang has publicly stated that Fosun will focus on two main sectors: biomedicine and cultural tourism, moving towards a light asset operation model [24]. - The company has gradually divested from real estate, with its real estate subsidiary, Fuzhou Group, having lost market presence and relevance over the years [25]. - The transition away from real estate investments reflects a broader trend among major players in the industry, as they adapt to changing market conditions [26][27].