国内首单租赁住房REITs扩募项目在上交所上市

Core Viewpoint - The successful expansion of the Huaxia Beijing Affordable Housing REIT marks a significant milestone in China's public REITs market, indicating a dual-driven model of "initial issuance + expansion" and accelerating the normalization of REITs issuance [1][2]. Group 1: REITs Market Development - The expansion of public REITs is a crucial feature that promotes the sustainable development of the REITs market and enhances its refinancing capabilities [2]. - Since June 2023, the Shanghai Stock Exchange has actively promoted the expansion of listed REITs, with 6 REITs announcing expansion plans in 2024, of which 2 have been approved and 4 are under review [2]. - As of June 25, there are 44 publicly listed REITs on the Shanghai Stock Exchange, with a total issuance scale of 122.6 billion yuan, covering various asset types including toll roads, industrial parks, and rental housing [2]. Group 2: Financial Performance and Projections - The Huaxia Beijing Affordable Housing REIT has distributed approximately 128 million yuan in dividends since its listing in August 2022 [1]. - The recent expansion raised approximately 946 million yuan, with assets including four mature rental housing projects located in various districts of Beijing [1]. - The projected annual cash distribution rate for the expanded project in 2025 is 4.11%, which is higher than the distribution rate calculated based on the market value of the initial issuance [1].