Gree Real Estate stated at the third quarter performance briefing that it is currently actively promoting the transfer of a 51% equity stake in Zhuhai Duty-Free Group, while divesting 100% equity stakes of real estate subsidiaries in Shanghai, Chongqing, and Sanya, along with significant asset replacement of external debts. The evaluation matters of the companies involved in this restructuring have been conditionally approved by Zhuhai State-owned Assets Supervision and Administration Commission. Through this restructuring, the company will gradually withdraw from the real estate business as a whole, and build a large listed company centered around duty-free business, consumer-oriented operations, and industry chain layout.