Xin Lang Cai Jing·2025-08-01 08:44Core Viewpoint - The successful listing of the first central enterprise natural gas power public REIT, Huaxia Huadian Clean Energy REIT, marks a significant milestone in China's public REITs market, contributing to the country's energy transition and serving as a benchmark for state-owned enterprises to revitalize quality clean energy assets and innovate financing models [1][5]. Group 1: Company Overview - Huaxia Huadian Clean Energy REIT is launched by China Huadian Group, with Huadian International as the main original rights holder, and is managed by CITIC Securities and Huaxia Fund [5][6]. - The underlying asset of the fund is the Hangzhou Huadian Jiangdong natural gas cogeneration project, which is a key power and heat source for the Zhejiang power grid, showcasing excellent asset quality and sustainable operational capabilities [5][6]. Group 2: Market Response - The fund aims to raise 1.8945 billion yuan, with pre-allocation subscriptions exceeding 170 billion yuan, setting new records for clean energy REITs in terms of effective subscription multiples from both public and offline investors [5][6]. Group 3: Industry Implications - The launch of this REIT expands the number of clean energy REIT products in China to eight, with total fundraising exceeding 20 billion yuan, creating a diverse green asset matrix covering solar, wind, hydro, and natural gas power [7][8]. - The REIT is seen as a crucial financial infrastructure for supporting the country's green energy transition and achieving carbon neutrality goals, with expectations for greater contributions in the future [7][8].