GDS(US:GDS) 券商中国·2025-06-19 12:16Core Viewpoint - The approval of the first public REITs for data centers in China marks a significant expansion of the underlying assets in the public REITs market, filling a gap in the data center sector and injecting new vitality into the capital market [2][5]. Group 1: REITs Details - The "Southern Runze Technology Data Center Closed-End Infrastructure Securities Investment Fund" has a total fundraising quota of 800 million shares and a fund contract duration of 38 years [3]. - The "Southern Wanguo Data Center Closed-End Infrastructure Securities Investment Fund" has a total fundraising quota of 1 billion shares and a fund contract duration of 50 years [3]. - Both funds are managed by Southern Fund, with China Merchants Bank as the custodian and Huatai United Securities as the exclusive financial advisor [3]. Group 2: Underlying Assets - The Southern Runze Technology REIT is based on the International Information Cloud Aggregation Port (ICFZ) A-18 data center project located in Langfang Economic Development Zone, Hebei Province, which has shown excellent operational efficiency and high cabinet occupancy rates [3]. - The Southern Wanguo Data Center REIT is based on the Kunshan Guojin Data Cloud Computing Data Center project, which has maintained stable operational conditions and high infrastructure asset billing rates since its launch [4]. Group 3: Industry Impact - The launch of these two products is expected to activate high-quality existing assets efficiently and open new capital circulation channels for the data center industry, potentially attracting more capital to focus on this sector [5]. - The approval aligns with the regulatory support for asset securitization in new infrastructure sectors, including artificial intelligence and data centers, promoting the revitalization of existing assets [6].