三大维度筛选高质量资产

Core Insights - Public REITs are characterized as a marathon, where compliance is essential for project qualification, aimed at mitigating asset risk and ensuring market confidence [1] - High-quality public REITs assets are expected to gain market recognition based on three dimensions: physical asset condition, supply-demand dynamics, and corporate governance [1][2] Group 1: Asset Selection Criteria - The physical state of assets includes factors such as engineering planning concepts, usage duration, construction quality, and the condition of facilities [1] - Assets that maintain scarcity during their lifespan are likely to exhibit strong premium capabilities and income expectations [1] - Effective corporate governance is crucial; even profitable projects may face long-term operational risks without a robust governance framework [1] Group 2: Strategic Positioning - The core value of public REITs lies in establishing a listing platform, with longevity dependent on continuous fundraising and acquisitions, creating a virtuous cycle of financing [2] - Strategic positioning involves three key aspects: strategic resources, strategic regions, and strategic enterprises, guided by national strategies that influence resource allocation and infrastructure demand [2] - Engaging in industries that align with national and public needs can provide a stable policy environment and access to industry growth dividends [2]