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Gree Real EstateLtd (SHSE:600185) Adds CN¥396m to Market Cap in the Past 7 Days, Though Investors From Three Years Ago Are Still Down 37%
Gree Real Estate's H1 Loss to Widen; Shares Drop 5%
Long-established state-owned developer says goodbye to real estate.
Ten years ago, Dong Mingzhu, then chairman of Gree Group, said that Gree should not focus on real estate business, but should focus on home appliances; ten years later, this became true. Gree Real Estate, which has separated from Gree Group, has decided to withdraw from real estate development business. On July 7th, Gree Real Estate announced that it will gradually withdraw from real estate development business in Shanghai, Chongqing, Sanya and other places, and plans to sell corresponding assets and liabilities; at the same time, it has updated its restructuring plan for Zhuhai Duty-Free Group, planning to buy no less than 51% of the equity of Zhuhai Duty-Free Group and promote Gree Real Estate's main business transformation to duty-free business.
2024 Interim Performance Forecast
Gree Real Estate to Dispose of Assets to Buy 51% of Zhuhai Duty Free; Shares Up 6%
More Unpleasant Surprises Could Be In Store For Gree Real Estate Co.,Ltd's (SHSE:600185) Shares After Tumbling 26%
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