Citychamp Datong announced that the company intends to transfer the assets and liabilities related to the real estate development business held by the company to the company’s controlling shareholder (or affiliated company designated by the actual controller).

The Securities Times reporter combed that recently, a number of listed real estate companies such as Huayuan Real Estate, Midea Real Estate, Gree Real Estate, and Guancheng Datong have sold real estate development business assets.

Industry insiders interviewed by reporters believe that the tide of “check-out” of listed companies has risen, and the real estate market has continued to adjust deeply in recent years, and the real estate development business has become a drag on the performance of listed companies. In order to alleviate the pressure on operating performance, a number of listed companies sold and divested their real estate development businesses and transformed them into asset-light business companies, while Citychamp Datong completely sold their real estate-related businesses and completely transformed into manufacturing enterprises.