ST CREC released a major asset sale draft, accelerating the business transformation
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ST CREC announced a major asset sale proposal on June 16, planning to transfer all assets and liabilities of its real estate development business to its controlling shareholder, China Communications Real Estate Group, for 1 yuan. This move marks an important step for the company towards transforming into a light asset business, focusing on property services and asset management after the transfer. This transaction does not involve the issuance of shares and is expected to improve the company's capital structure and profitability, protecting shareholder interests
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