保利发展控股集团股份有限公司

Core Viewpoint - Poly Developments plans to initiate the issuance of commercial real estate REITs to optimize its capital structure and enhance its core competitiveness and sustainable development capabilities [1][10]. Group 1: REITs Basic Information - The company held a board meeting on January 27, 2026, where it approved the proposal to start the application and issuance of commercial real estate REITs [1]. - The initiative aligns with regulatory calls from the China Securities Regulatory Commission to promote the high-quality development of the REITs market [1]. Group 2: REITs Scheme - The selected assets for the REITs include the Guangzhou Poly Center project and the Foshan Poly Water City project, both held by the company's wholly-owned subsidiaries [3]. - The company will act as the original rights holder and will submit applications to the Shanghai Stock Exchange and the China Securities Regulatory Commission [3]. - The company plans to participate in a strategic allocation of at least 20% of the REITs issuance [4]. Group 3: Authorization Matters - The board has authorized the chairman, general manager, CFO, and board secretary to handle all matters related to the REITs application and issuance [9]. - This authorization is valid for 24 months from the date of board approval [9]. Group 4: Impact of REITs Issuance - The issuance of commercial real estate REITs is seen as a significant step for the company to leverage innovative financing tools, optimize resource allocation, and support a new model of real estate development [10].