茂业商业：拟开展商业不动产公募REITs申报发行工作

Core Viewpoint - The company announced plans to initiate the public offering of commercial real estate REITs, aiming to enhance net profit and optimize capital structure through asset revitalization [1] Group 1: Announcement Details - The board meeting is scheduled for January 22, 2026, to review the proposal for the public offering of commercial real estate REITs [1] - The underlying assets will include certain buildings from Chengdu Maoye Center, held by the wholly-owned subsidiary Chengshang Holdings and related party Chongde Investment [1] - The product is named Huaxia Maoye Closed-end Commercial Real Estate Investment Fund, with the issuance venue at the Shanghai Stock Exchange and a term of approximately 20 years [1] Group 2: Strategic Allocation and Transactions - The company and related parties plan to strategically allocate 34% of the shares, which constitutes a related party transaction but does not qualify as a major asset restructuring [1] - The proposal will require approval from the shareholders' meeting [1] Group 3: Financial Implications - If the issuance is successful, it is expected to increase net profit and revitalize existing assets while optimizing the capital structure [1] - However, the project faces potential tax burdens and issuance risks [1]