On December 9, Gree Real Estate opened with a daily limit which, at press time, was trading at 7.16 yuan, with revenues of 7.371 million yuan.
Gree Real Estate issued an announcement last night, intending to issue shares and pay cash to the Zhuhai State Assets Supervision and Administration Commission and Urban Construction Group for the purchase of 100% of the shares of the Duty Free Group held by them. At the same time, the company intends to raise support funds through the non-public issue of shares to no more than 35 investors, and the total amount of raised support funds is expected to exceed RMB 800 million. After the transaction is completed, Gree Real Estate will create three major business segments: the large consumer industry led by tax-free enterprises, the biomedical health industry with great development potential, and the real estate industry adhering to the high line quality.
The announcement pointed out that after the completion of this reorganization, the listed company’s income scale and profitability are expected to be significantly improved, and earnings per share are expected to increase, which will help improve sustainable profitability and anti-risk capabilities, and it is in the interest of the company’s shareholders.
In terms of finance, the third quarter of this year report shows that the main operating income of Gree Real Estate is about 600 million yuan, a year-on-year decline of 78.41%; single-quarter net profit attributable to the mother is -157 million yuan , a year-on-year decline of 191.49%.
