中海申报首单公募REITs，拟募资超13亿元

Core Viewpoint - The issuance of public REITs helps real estate companies reduce reliance on traditional debt financing and provides a new equity financing method [1][5] Group 1: Company Actions - China Overseas Land & Investment (中海地产) plans to list its shopping center project in Nanhai District, Foshan, Guangdong, through public REITs on the Shenzhen Stock Exchange, aiming to raise approximately 1.355 billion yuan [1] - The project, previously known as Nanhai Yifeng City, was acquired by China Overseas in 2020 and has undergone significant renovations to improve its operational performance [2] - The shopping center has achieved a 20% annual compound growth rate in foot traffic and a 24% growth rate in sales, with an occupancy rate exceeding 98% as of 2023 [2] Group 2: Industry Insights - The commercial real estate sector has seen a shift, with China Overseas increasing its focus on shopping centers, resulting in a compound growth rate of 27% in revenue since 2020 [3] - The overall rental income from commercial properties has increased by 34.6% year-on-year, reaching 2.26 billion yuan, accounting for over 30% of the company's commercial property operating income [3] - Experts believe that the public REITs platform could allow China Overseas to list more quality commercial properties, enhancing capital efficiency and reducing leverage [4][5]