Precise(SZ:300442) 2 1 Shi Ji Jing Ji Bao Dao·2025-06-18 11:37Core Viewpoint - The approval of the first batch of data center REITs in China, including the Southern Runze Technology REIT, marks a significant expansion of REITs into new infrastructure sectors, supporting the digital economy and innovative financing mechanisms [1][2]. Group 1: REITs Approval and Details - The Southern Runze Technology REIT has been officially registered by the China Securities Regulatory Commission (CSRC) and is the first data center REIT on the Shenzhen Stock Exchange, with underlying assets from the Runze (Langfang) International Information Port A-18 data center, which has 5,897 cabinets and an occupancy rate exceeding 99% [1][2]. - The approval of this REIT is seen as a crucial step in promoting the market-oriented financing mechanism for the "East Data West Computing" project, providing a practical example for activating new infrastructure [2]. Group 2: Market Context and Future Prospects - The data center sector is recognized as a core infrastructure for the digital economy, supporting technologies such as cloud computing and artificial intelligence, with increasing demand for data centers as REIT assets [3][4]. - The approval of the Southern Runze Technology REIT is expected to facilitate financial innovation in the industry, transitioning from heavy asset operations to a closed-loop model of investment, management, and exit, thereby accelerating capital recovery [4]. Group 3: REITs Market Growth - As of June 5, 2025, the total market capitalization of REITs in China has surpassed 200 billion yuan, making it the largest REITs market in Asia and the second largest globally [6]. - The REITs market has shown strong performance, with an overall profitability rate of 104% for 18 REITs that disclosed annual reports for 2024, and a total dividend distribution of 2.273 billion yuan [6]. Group 4: Regulatory and Market Developments - The CSRC has been actively enhancing the policy framework to support new infrastructure and technology enterprises in issuing REITs, aiming to broaden funding sources for these sectors [3]. - The Shenzhen Stock Exchange plans to continue promoting the issuance of REITs, focusing on stabilizing the market and expanding the types of assets included in REITs [7].