Jingtou Development plans to transfer real estate development business-related assets and liabilities, with the buyer being the company's controlling shareholder.

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Source: Da Gong Net

Da Gong Real Estate News — On March 16, Jingtou Development Co., Ltd. (Stock Code: 600683, Stock Abbreviation: Jingtou Development) issued a warning announcement regarding major asset sale and related-party transactions. The announcement states that the company plans to transfer its real estate development-related assets and liabilities to Beijing Infrastructure Investment Co., Ltd. (hereinafter referred to as “Jingtou Company”).

It is understood that the counterparty for this transaction is the controlling shareholder of Jingtou Development. As of September 30, 2025, Jingtou Company will hold 40% of the company’s equity.

Jingtou Development stated that its current main business is real estate development. Through this transaction, the company will transfer its real estate development-related assets and liabilities to its controlling shareholder, Jingtou Company. After this transaction is completed, the company will no longer engage in real estate development. This is expected to be a major asset sale, with cash payment planned. It will not affect the company’s equity structure and will not result in a change of controlling shareholder. If successfully completed, the company’s operating income and total assets are expected to decrease, and the company’s asset-liability ratio is expected to improve, optimizing the asset structure.

In terms of performance, Jingtou Development expects to achieve a net profit attributable to the parent company of -1.23 billion to -1.025 billion yuan in 2025. The net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be between -1.272 billion and -1.067 billion yuan.

Jingtou Development explained that the main reasons for the expected loss this period are: first, increased interest expenses from capitalization of real estate project costs; second, the company conducted preliminary impairment testing on project assets according to enterprise accounting standards and, based on prudence, expects to recognize impairment for some project assets.

It is worth noting that before announcing the transfer of its real estate business, Jingtou Development’s stock price increased by more than 20% in cumulative deviation over three consecutive trading days on March 11, 12, and 13, 2026. As of 11:30 on March 16, the stock price was 9.64 yuan per share, up 10.05%, with a total market value of 7.141 billion yuan.

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Editor: Song Yafang