BHDS(SZ:000882)2022-12-06 08:42Group 1: Company Strategy and Development - The company plans to shift towards a light asset operation strategy to improve cash efficiency and competitiveness, while retaining management rights of properties during ownership transfers [3] - In 2015, BHG Retail REIT was listed on the Singapore Stock Exchange, and the company will consider selling mature properties to REITs in the future [3] - The company aims to enhance operational capabilities to reduce vacancy rates and increase rental levels, thereby maximizing returns during asset transfers [3] Group 2: Investment Criteria and Focus Areas - The selection criteria for external investment projects include the potential for synergy with the main business and enhancing revenue levels [4] - The company intends to focus on expanding shopping centers primarily in Beijing, while also exploring opportunities in promising second-tier cities [4] - The company will leverage its industry position to attract strategic partner tenants in second-tier cities to enhance negotiation power [4] Group 3: Valuation and Financial Considerations - The valuation of shopping centers is based on macroeconomic conditions, industry trends, regional economic characteristics, and projected cash flows, discounted at a reasonable rate [4] - The company has detailed arrangements for the lock-up period of newly issued shares in its asset purchase and fundraising plan, based on specific registration dates [4]