华润商业REIT借“东风” 有望在2025年底前完成扩募

Core Viewpoint - China Resources Commercial REIT is expected to complete its expansion by the end of 2025, following the submission of its expansion share listing application to the Shenzhen Stock Exchange and the recent policy changes that facilitate quicker expansion processes [1][2]. Group 1: Expansion Application and Policy Support - China Resources Commercial REIT submitted an application for expansion share listing to the Shenzhen Stock Exchange, with the first expansion planned for 2025 [1]. - The National Development and Reform Commission (NDRC) has reduced the expansion threshold for infrastructure REITs from 12 months to 6 months, allowing for a faster application process [1][2]. - The NDRC will prioritize recommending expansion projects that meet certain conditions, particularly those with high net recovery fund scales, indicating strong policy support for the expansion of China Resources Commercial REIT [2]. Group 2: Market Performance and Investor Sentiment - The market performance of China Resources Commercial REIT is influenced by fluctuations in the stock and bond markets, with a notable increase in related REITs, such as Huaxia Fund's "Wochao," which rose by 2.2% in early September 2025 [3]. - The ongoing expansion application process is likely to enhance market attention and recognition for China Resources Commercial REIT, especially given the focus on REITs with stable rental income and good asset quality [3].