Under the appeal of favorable policies, the public offering REITS products (hereinafter referred to as consumer public offering REITs) with consumer category as the underlying assets are screaming.
Recently, Beijing Hengsheng Huaxing Investment Management Co., Ltd. (hereinafter referred to as "Hengsheng Huaxing") issued the bidding announcement of the Outlets Public Rate REITS project, which is intended to issue infrastructure public offering REITs;Group ") It is intended to use the commercial property assets as the target to issue consumer infrastructure public offering REITs.Two actions have become the first and second projects of the infrastructure disclosed in the consumer field, and the two companies have also become the first batch of "crabs".
According to relevant research predictions, if the consumer REITS can achieve zero breakthroughs in 2023, it is estimated that the public offer REITs issuance scale will be equivalent to 2022, and the total distribution scale of the REITs will reach about 120 billion yuan by the end of 2023.This means that on the occasion of the three years of infrastructure REITs pilot launch, the number of public offer REITs products not only further expand capacity, but also the underlying assets are also expected to expand from the current six categories to seven categories.
The main body of the main body is stable
The data shows that as of the end of 2022, the first Outlets made an annual sales of over 10 billion yuan in Outlets, which received nearly 60 million customers in the annual reception., Nanchang, Wuhan, Hefei, Jinan, Zhengzhou, Xi’an, Kunming, Nanning and other provincial capital cities, as well as Huzhou, Kunshan, Qingdao, Xiamen and other cities.
Source: Bangbang Bidding Platform Announcement
In addition, the Lu Shang Group recently issued public information, intending to use the commercial property assets held as the target, and issue public fundraising REITs in consumer infrastructure, becoming the second project disclosed in the consumer field.Public information shows that the Lu Shang Group is a state -owned enterprise formed by the rectification of the Rotary of the Shandong Provincial Commercial Office at the end of 1992. It currently has 3 listed companies ("Ginza shares", "Lu Shang Development", "Lu Shang Service") and 4The universities, 8 national -level R & D platforms, 6 academician workstations, 349 subordinate enterprises, and its Ginza Group ranked among the top 100 retail of the country.According to public information, a number of indicators in the Lugos Group in the first quarter of 2023 achieved positive growth, of which total operating income was 11.942 billion yuan, an increase of 102.37%year -on -year; net profit was 185 million yuan, a year -on -year increase of 623.52%.
According to relevant research predictions, if the consumer REITS can achieve zero breakthroughs in 2023, it is estimated that the public offer REITs issuance scale will be equivalent to 2022, and the total distribution scale of the REITs will reach about 120 billion yuan by the end of 2023.
Source: Bangbang Bidding Platform Announcement
REITs underlying assets are expected to expand to seven categories
Earlier, the CSRC and the National Development and Reform Commission issued a notice clearly pointed out that research supports the issuance infrastructure of consumer infrastructure to enhance consumption capacity, improve consumer conditions, and innovate consumer scenarios.Prioritize supporting urban and rural commercial outlets such as department stores, shopping malls, and farmers’ markets to ensure the distribution infrastructure of community commercial projects that ensure basic people’s livelihood.Market participants believe that this marks the policy from the supply side and officially incorporates consumer infrastructure into the scope of REITs.In addition, the classification adjustment of yields and scale requirements, accelerating the project audit process, will be effective in living assets, providing investors with new choices for asset allocation, helping to support expanding domestic demand and steady service growth.
Tianfeng Securities pointed out in a research report on the changes in the rental rate of shopping malls in recent years that the rental rate of shopping malls in key cities has differentiated. Among them, the markets in Hangzhou, Nanjing, Shenzhen and other cities are relatively active.
Specifically, in terms of first -tier cities, Shenzhen’s retail rental situation has performed well, and the northern Shanghai -Shanghai -Guangzhou vacancy rate has improved slightly.As of March this year, the vacancy rates of high -quality properties in Beijing, Guangzhou, and Shenzhen were 8.7%, 11.5%, and 1.6%, respectively; as of the end of December 2022, Shanghai’s latest vacancy rate was 8%.From the perspective of changing trends, the vacancy rates in Shanghai, Beijing, and Guangzhou have increased compared with the previous statistics. The vacancy rate at the end of the first quarter of 2023 was the lowest level in recent years.
In other core cities, the retail market in Hangzhou and Nanjing is more active, and the vacancy rate of other cities is about 10%.As of the end of 2022, the vacancy rates of high -quality retail properties in Hangzhou, Nanjing, Chengdu, Wuhan, Xi’an, and Chongqing were 3%, 3.2%, 9.7%, 10.3%, 10.8%, and 11.9%, respectively.The rate is basically maintained within 5%.After comparing and analyzing first -tier cities and above cities as sample cities, the research report found that in sample cities, the vacancy rate of Hangzhou and Nanjing is relatively low, which fully demonstrates the active degree of urban retail market; as of the end of 2022, the end of 2022The vacancy rates of high -quality retail properties in Guangzhou, Xi’an, Chongqing, and Wuhan are all over 10%.
Traffic investments continue to be active, and market reproduction of the market to increase its holdings
According to Wind, as of the afternoon closing on May 9, 27 public offering REITs products with listed transactions have recorded negative revenue since this year, of which 6 of them have fallen by more than 10%.Data show that in the past April, there were 53 public offering REITs transactions in the Shanghai and Shenzhen cities.EssenceAmong them, CCB Zhongguancun REIT has the highest number of transactions, reaching 11; Huaxia Yuexiu High Speed REIT, Penghua Shenzhen Energy Reit, and Huaxia China Communication Construction REIT are not less than 5.In terms of transaction price interval, the transaction price range in April was 92.03%-109.2%of the closing price of the previous transaction, with an average value of about 99.44%, and the transaction price range was magnified month-on-month.
It is worth mentioning that behind these transactions, the public offer REIT handed over a transcript that is still excellent but distinguished in the first quarter.Ping An Securities Research Report pointed out that in the first quarter of public recruitment REITS products, the operation of the highway sector was obviously repaired from the previous month.Essence
Specifically, the highway sector showed almost all the restoration in the first quarter. The traffic and the income of traffic and income have basically increased. The specific growth rate and the predicting of financial indicators have a certain differentiation.The annualized forecast of 2023 is available for the completion of the distribution amount; however, the revenue of the two single REITs in the ecological environmental protection sector in the first quarter and the EBITDA have decreased year -on -year.In addition, the overall operation of the warehousing logistics sector has a steady operation, and the income increases slightly from the previous month.Among them, the rental rate of CICC Ros Relos slightly dropped, and the Red Earth Yantian Port REIT and Castrol JD REIT basically maintained full rent.In addition, the operating performance of the industrial park sector overall declined in the first quarter. The lease rate of CCB Zhongguancun REIT and Hua’an Zhangjiang Guangda REIT declined.
Based on confidence in future development, the Huaxia Fund announced on May 9 to invest in Huaxia China Communications and Construction REIT in the inherent funds within 6 months, and promised to hold a period of no less than 6 months.In terms of CITIC Construction Investment in the new energy REIT, the consensus actor of the fund’s original equity person, Berry Trust, plans to use its own funds or self -raising through bidding or large transactions from May 9th from 6 months from May 9th.The funds increased the fund, and the total holdings of the fitting were not more than 16 million, accounting for 2%of the total share of the issued fund.
The announcement shows that Berry Trust’s purpose of increasing the shareholding of the fund is based on the confidence in the future development prospects of the fund and infrastructure projects and the recognition of long -term investment value.The increase in holdings does not set the increase in the price range.
Responsible editor: Luo Xiaoxia
School pair: Su Huanwen