On May 28, CR Land fell 3.1% in regular trading, trading at HK$33.76/share, with trading volume of HK$593 million.

On the news front, the Shanghai United Assets and Equity Exchange disclosed that CR Land's wholly-owned subsidiary, Super Intelligent Resources, plans to transfer 100% equity of CR Land (Chengdu) Development Co., Ltd., with a listing floor price of RMB 7.51 billion. The required deposit is RMB 2.253 billion, and the transaction payment must be made in a single lump sum. The target company is the developer and operator of Chengdu MixC. As of the end of February, its net assets stood at only RMB 645 million, implying a transfer premium of approximately 11.7 times. Chengdu MixC recorded rental income of RMB 831 million and net profit of RMB 246 million last year. UBS previously estimated the asset's potential valuation at approximately RMB 10.9 billion based on projected rental income and a 5% NOI capitalization rate. The broader Real Estate Development sector was broadly weak, with Radiance Holdings down 7.77%, China Overseas down 4.32%, and Longfor Group down 5.08%.

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