Wangfujing terminates the transfer of the commercial management company; two listing attempts have failed.

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Guandian News: On April 3, Wangfujing Group Co., Ltd. released an announcement regarding the termination of the transfer of subsidiary equity.

The announcement states that on October 29, 2024, the 14th meeting of the 11th board of directors of Wangfujing considered and approved the “Resolution on Public Listing and Transfer of Subsidiary Equity,” agreeing that the company will, through the Beijing Property Rights Exchange, publicly list and transfer 100% of the equity of its wholly owned subsidiary, Beijing Wangfujing Department Store Commercial Property Management Co., Ltd., and the initial listing price shall not be lower than the appraised value after appraisal evaluation and recordation by the state-owned assets authority.

After the board of directors approved the resolution, Wangfujing actively advanced the audit and appraisal involved in this equity transfer, the appraisal evaluation filing and recordation with state-owned assets authorities, and the public listing work on the National Equities Exchange and Quotations (NEEQ).

On March 21, 2025, the 100% equity interest project of the commercial property company was first publicly listed on the NEEQ. The listing price was RMB 64,221.08 million, which was the appraised value after appraisal evaluation filing and recordation of state-owned assets. As the initial listing period expired, no intended transferee was collected.

Pursuant to authorization from the board of directors, Wangfujing reduced the listing price of the equity by 10% to RMB 57,798.972 million and listed it again. As of the expiration of the listing period, no intended transferee was collected.

On April 3, 2026, Wangfujing convened the 3rd meeting of the 12th board of directors. The voting results were 11 votes in favor, 0 votes against, and 0 abstentions. The “Resolution on Terminating the Transfer of Subsidiary Equity” was deliberated and approved. Given that the public market price inquiry during the public listing period did not meet expectations, the board of directors decided to terminate this equity disposal matter.

To improve asset returns, Wangfujing has leased the major assets of the commercial property company to external parties. Going forward, the company will continue, in light of market conditions and on the premise of lawful and compliant operations, to actively pursue multiple approaches to advance the relevant work and promptly fulfill its information disclosure obligations. Investors are kindly requested to pay attention to investment risks.

Disclaimer: The content and data in this article are compiled by Guandian based on publicly available information and do not constitute investment advice. Please verify before use.

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