On November 27, 2024, Beijing Media (01000.HK) announced that the board of directors has decided to sell the target property held by the seller (a wholly-owned subsidiary of the company). As the company is a state-owned enterprise and the target property constitutes state assets, in accordance with relevant Chinese laws and regulations on the sale of state assets, the target property will be sold through public listing on the BSE, with an initial bid price of RMB 20.7065 million.
The target property refers to six properties held by the seller and fully used for rental, located on the 15th floor of Block C, Yuanda Center, 5 Huizhong Road, Chaoyang District, Beijing (C1501, C1501', C1502, C1503, C1505, C1506), which will be sold by the seller through public listing.
Considering the current market conditions of commercial properties and the overall operational planning of the group, the board of directors believes that the proposed sale will enable the group to realize its investment in the target property and use the net proceeds as general operating funds for the group, providing a good opportunity for the group to realize the property value at a reasonable price. The target property is a non-core asset of the group, and the proposed sale is beneficial for activating existing assets, accelerating the clearance and disposal of inefficient assets, optimizing the group's asset allocation, reducing project management and input costs, and conducive to focusing the group's resources on its core business, improving quality and efficiency, assisting the group in advancing its business transformation, and promoting the healthy and benign development of the group's operations.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
Comment(0)
Reason For Report