认购资金超1616亿元 华夏中核清洁能源REIT实现超募

Core Insights - The successful issuance of the Huaxia CNNC Clean Energy REIT marks a significant milestone in the capital market for state-owned enterprises, establishing a new benchmark for non-nuclear green energy businesses [3] - The overwhelming investor interest, with total subscription funds reaching 161.689 billion yuan, indicates deep recognition of the investment value of the fund [2] Fund Issuance Details - The total subscription amount before proportional allocation was 161.689 billion yuan, which is 107.47 times the intended fundraising scale of 15.045 billion yuan [2] - The fund was priced at 5.015 yuan per share, with a total of 3 billion shares to be issued [1] - The effective subscription multiple for public investors was approximately 392 times, while for offline investors it exceeded 340 times, reflecting strong market demand [1] Underlying Asset and Management - The underlying asset, the Bopona Hydropower Station, is the largest in the Hotan region and has been operational for over 14 years, providing stable and clean electricity supply [2] - The fund's original rights holder and operational management, Xinjiang Xinhua Hydropower Investment Co., is the largest hydropower operator in Xinjiang, ensuring robust operational support [2] - The fund managers, CITIC Securities and Huaxia Fund, possess extensive experience in energy REITs investment management, contributing to the fund's expected stable performance [2] Financial Projections - The projected cash distribution rates for the Huaxia CNNC Clean Energy REIT are estimated at 5.04% for 2025 and 4.71% for 2026, based on the disclosed distributable amounts [2] Market Impact - The issuance of this REIT facilitates a market-oriented operation loop for clean energy assets, providing a replicable model for similar green asset securitization practices by state-owned enterprises [3] - The fund's clear clean energy attributes inject strong capital momentum into the scaling and marketization of the clean energy industry, supporting the achievement of carbon peak and carbon neutrality goals [3]