Tianjin Jintou State-owned Urban Development (600322.SH) plans to transfer part of its subsidiary's equity to optimize its asset structure.

Tianjin Jintou State-owned Urban Development (600322.SH) announced that in order to promote sustainable development and further optimize its asset structure, the company plans to transfer 90% of the equity of its subsidiary, Tianjin Huachi Leasing Co., Ltd. ("Huachi Company"), through public listing or private agreement, as well as 46.33% of the equity of its equity investment subsidiary, Tianjin Huafu Palace Hotel Co., Ltd. ("Huafu Palace Company"), and 31.89% of the equity of its equity investment subsidiary, Tianjin Tianfang Property Management Co., Ltd. ("Tianfang Property Company"). The company has already engaged relevant institutions to evaluate the above-mentioned equity, and as of the date of this announcement, the evaluation work is ongoing. The company will proceed accordingly based on the evaluation results.