Shanghai Industrial Holdings (00363) subsidiary plans to sell 100% of Shanghai Chengkai Jingxiang Real Estate Co., Ltd.'s shares for 742.5 million yuan

According to the Zhitong Finance App, Shanghai Industrial Holdings (00363) announced that on October 28, 2026, Shangshi Chengkai (Shanghai) Housing Leasing Co., Ltd., an indirect non-wholly-owned subsidiary of the company, plans to sell 100% of the shares of Shanghai Chengkai Jingxiang Real Estate Co., Ltd. to Shanghai Ruiyu Housing Rental Co., Ltd., at a cost of about 742.5 million yuan.

According to reports, the target company develops, owns and operates the “Chengkai Qianjihui Community”. The project is an affordable rental housing project located in the Shanghai South Railway Station area in Xuhui District, Shanghai. The total construction area of the project is about 58,476.32 square meters, including affordable rental housing, supporting commercial housing, underground parking spaces and other ancillary housing.

According to the announcement, the sale forms part of the Group's strategy to revitalize existing assets, recover capital, optimize its assets and capital structure, reduce its net debt ratio, and advance its transformation to a more asset-light operating model. The sale is expected to generate a total sales proceeds of approximately $742 million and net cash recovery of approximately $677 million, thereby enhancing the Group's liquidity and providing additional resources for debt reduction and its main business.