会议预告 ‖ 砂之船房地产投资信托(CRPU.SG)：资本结构优化驱动长期可持续增长

Core Viewpoint - The REIT sector is experiencing increased valuation differentiation due to high financing costs and weak consumer momentum, with "capital structure quality" becoming a key dimension for assessing dividend certainty and growth resilience [1] Group 1: Company Performance - Sands China REIT (CRPU.SG), as Asia's first outlet-listed REIT, achieved stable revenue growth in the first half of the year through its unique EMA business model [1] - The company effectively reduced overall financial costs by anchoring on declining RMB loan rates through green loans and proactive refinancing [1] - Sands China REIT maintained the industry's lowest leverage ratio at 25.8% and an interest coverage ratio of 4.7 times, providing a dual assurance of stable cash flow and quality capital structure for shareholder returns and future growth [1] Group 2: Future Outlook - Looking ahead to the second half of the year, the company aims to drive long-term sustainable growth by optimizing its capital structure amid the ongoing "promote consumption" policies and the upcoming autumn consumption season [1] - The company plans to advance its "art business and super outlet" strategy to seize opportunities arising from industry reshuffling and consumer recovery [1]