ST CREC released a major asset sale draft, accelerating the business transformation

According to the news from Zhitong Finance APP, on the evening of June 16, *ST Zhongdi (000736.SZ) disclosed a major asset sale proposal. According to the announcement, the company plans to transfer all assets and liabilities related to its real estate development business to its controlling shareholder, China Communications Real Estate Group Co., Ltd., at a transaction price of 1 yuan, marking a key step in the company's strategy of "shifting from heavy to light."

The announcement shows that the transaction targets include the equity of real estate holding/participating enterprises held by China Communications Real Estate, accounts receivable, and debts, among all assets related to the real estate business. As of December 31, the assessed value of the target assets is -2.976 billion yuan. After the transfer is completed, China Communications Real Estate will focus on light asset businesses such as property services, asset management, and operations, achieving a strategic transformation of the company's business model.

This restructuring will be conducted through a cash transaction, without involving the issuance of shares, and will not affect the company's equity structure. At the same time, after the transaction is completed, the listed company's capital structure and profitability will be effectively improved, and businesses such as property management and asset management will have stability and sustainability, which is beneficial to protect the interests of all shareholders of the listed company