---
title: "SID's subsidiary plans to sell part of the Quanzhou project products"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/249115002.md"
description: "SID's wholly-owned subsidiary Quanzhou SID plans to sell part of the products of the Shanghai project in Fengze District, Quanzhou City, including residential units and parking spaces, with a transaction amount of 2.053 billion yuan. Since obtaining the project in 2007, the cumulative signed area is approximately 450,000 square meters, with a total amount of about 5.8 billion yuan. This transaction will accelerate inventory reduction, optimize resource allocation, and increase cash flow, aligning with the company's development strategy focused on Shanghai and the Yangtze River Delta region"
datetime: "2025-07-18T09:23:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/249115002.md)
  - [en](https://longbridge.com/en/news/249115002.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/249115002.md)
---

# SID's subsidiary plans to sell part of the Quanzhou project products

According to the Zhitong Finance APP, SID (600748.SH) announced that its wholly-owned subsidiary Quanzhou SID Investment Development Co., Ltd. (hereinafter referred to as "Quanzhou SID") intends to sell part of the products of the Shanshi Haishang project in Fengze District, Quanzhou City, Fujian Province through a transfer agreement. This includes residential properties, supporting ownership parking spaces, and ongoing construction projects. Quanzhou Kaiyuan Real Estate Group Co., Ltd. (hereinafter referred to as "Quanzhou Kaiyuan Real Estate"), through its wholly-owned subsidiaries Quanzhou Zhenyuan Industrial Investment Co., Ltd. (hereinafter referred to as "Quanzhou Zhenyuan") and Quanzhou Xinyuan Industrial Investment Co., Ltd. (hereinafter referred to as "Quanzhou Xinyuan"), will acquire these products for RMB 2.053 billion.

The Quanzhou project was acquired by the company in 2007, and over the years, it has contributed to the company's operating performance. As of the end of 2024, the project has achieved a cumulative real estate signed area of approximately 450,000 square meters and a total signed amount of approximately RMB 5.8 billion. However, due to changes in the market environment in recent years, the inventory digestion of the project has slowed down. This transaction will help the company accelerate inventory digestion, optimize resource allocation, increase cash inflow, and meet the funding needs for the company's operational development. After the completion of this transaction, the remaining inventory of the Quanzhou project is expected to be approximately 157,000 square meters, mainly consisting of commercial office products. This transaction aligns with the company's overall strategy to gradually focus on the development of Shanghai and the Yangtze River Delta region, benefiting all shareholders and the company

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