On August 25, SUNAC rose 5.5% in regular trading, trading at HKD 0.575/share, with turnover of HKD 45.36 million.

On the news front, SUNAC announced on the evening of August 24 that it will formally adopt Asset Management + Asset Operations as its strategic transformation direction, while acquiring 100% equity of Erjin Management for RMB 123 million, paid via issuance of 260 million new shares. Erjin Management specializes in real estate construction management and asset management light-asset services, having signed 73 projects covering core areas of the Yangtze River Delta region.

According to the announcement, SUNAC will separate its property development segment from the traditional integrated model into two independent business lines — asset management and construction management — while exploring the establishment of fund and REITs asset management platforms to promote a coordinated light-heavy asset development model. The consideration shares represent approximately 1.29% of the enlarged issued share capital upon completion. An independent appraiser valued the target company at RMB 164.2 million as of June 30.

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