Financial Street Holdings (000402.SZ) plans to repurchase Changjin Company's equity and withdraw from Changrong Company to achieve the purpose of disposing of some assets.

Financial Street Holdings (000402.SZ) announced that its wholly-owned subsidiary, Chang'an Property, intends to list and transfer 30% equity of Changrong Company on the Beijing Property Exchange. The equity transfer price shall not be lower than the evaluated price approved by the state-owned asset regulatory agency. At the same time, the company plans to transfer the 180 million yuan debt of Changrong Company to the transferee or its affiliates through an agreement. The other shareholder of Changrong Company, Science City Property, also intends to participate in this listing transfer. After the transfer is completed, Chang'an Property will no longer hold any shares of Changrong Company. The company's wholly-owned subsidiary, Chang'an Property, intends to participate in the acquisition of 51% equity of Changjin Company from Science City Property in the Beijing Property Exchange. The acquisition price shall not exceed the evaluated price approved by the state-owned asset regulatory agency. Chang'an Property or its affiliates will acquire the 180 million yuan debt of Changjin Company from Beijing Future Science City Development Group, the controlling shareholder of Science City Property, through an agreement. After the acquisition, Chang'an Property will hold 100% of the shares of Changjin Company. According to the announcement, Beijing Future Science City Changrong Property Co., Ltd. ("Changrong Company") is a company in which the company has a stake. The company's wholly-owned subsidiary, Financial Street Holdings Chang'an (Beijing) Property Co., Ltd. ("Chang'an Property"), holds 30% of its equity, while the other shareholder, Science City Property, holds 70% of its equity. Beijing Future Science City Changjin Property Co., Ltd. ("Changjin Company") is also a company in which the company has a stake. Chang'an Property holds 49% of its equity, while Science City Property holds 51% of its equity. The announcement stated that Science City Property, as a platform company owned by Changping District, holds a large number of public building properties in the Changping area and is responsible for coordinating the development of regional industries by the government. There are differences in the operation strategy between the company and Science City Property in project public building sales. After the completion of this transaction, it will help improve the decision-making efficiency within the project company and promote project sales. The transfer of shares is planned to be priced based on market evaluation, with the company repurchasing the equity of Changjin Company and transferring the equity of Changrong Company; Science City Property repurchasing the equity of Changrong Company and transferring the equity of Changjin Company. Ultimately, the company will wholly own the assets of Changjin Company, exit Changrong Company, reduce the amount of assets held through share transfer, recover some cash flow, and achieve the goal of partial asset disposal. After the equity of Changjin Company is recovered, the company will price sales based on market demand, implement a leasing strategy for the entire building, and revitalize the assets of Changjin Company.