跨海大桥公募REIT获批 助推基建高质量发展

Core Points - Ping An Ningbo Jiaotou REIT has received approval from the China Securities Regulatory Commission, marking it as the first public REIT for a cross-sea bridge in the country and the first public REIT in Ningbo [1][2] - The underlying asset of the REIT is the Hangzhou Bay Cross-Sea Bridge, which is 36 kilometers long and was the world's longest cross-sea bridge upon completion in 2008, serving as a vital economic link in the Yangtze River Delta [2] - The bridge has shown stable operational performance, with toll revenue increasing from 92.22 million yuan in 2009 to 219.548 million yuan in 2023, reflecting a compound annual growth rate of 6.4% [2] - The approval of Ping An Ningbo Jiaotou REIT contributes to the high-quality development of infrastructure in Ningbo and enriches the asset types available in China's public REIT market [2] Company Insights - Ping An Securities emphasizes a customer-centric approach, offering a comprehensive range of financing products tailored to meet the lifecycle needs of clients, while maintaining a leading position in debt issuance [3] - From 2023 to October 2024, Ping An Securities has provided 520.3 billion yuan in direct financing to support the high-quality development of the real economy [3] - Ping An Fund has been actively involved in asset securitization, achieving significant results, including the listing of Ping An Guangzhou Guanghe REIT, which has distributed over 1.704 billion yuan in dividends to investors since its launch [3]