策 略 研 究 申 购 策 略 相关研究 证 券 研 究 报 告 证券分析师 彭文玉 A0230517080001 pengwy@swsresearch.com 朱敏 A0230524050004 zhumin@swsresearch.com 任奕璇 A0230525050002 renyx2@swsresearch.com 联系人 本研究报告仅通过邮件提供给 中庚基金 使用。1 任奕璇 (8621)23297818× renyx2@swsresearch.com 2025 年 07 月 13 日 华夏凯德商业 REIT 申购价值分析 投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 - ⚫ 申购策略观点：华夏凯德商业 REIT 底层资产为长沙雨花亭项目、广州云尚项目，项目营业额稳步增长， 出租率持续提升，25 年到期租约 7 成左右已续签/换租，预期未来租金仍有增长空间。其中广州项目租 售比明显较高。原始权益人凯德商用储备项目丰富，资产证券化积累深厚。本基金预计募集资金为 22.97 亿元，预期项目资产未来 12 个月的公允价值区间为 23.47~29.23 亿元，IRR 为 6.90%~7.87%。 ...

Discover how ChatGPT can help you save on groceries. Start by asking it to help you meal plan, write shopping lists, and analyze your spending habits. https://t.co/c2g8gW15Jn ...

上周，创金合信首农REIT公告确认，其网下投资者有效认购申请确认比例仅为0.7755%，难抢程度在现有数据 统计的近70只公募REITs中，排名第13。其公众投资者有效认购申请实际确认比例更是低到0.2616%，相当于 认购1000元只能获配2.6元，哪怕是上市首日涨停，也不过赚得0.78元，被不少个人投资者戏称"不够手续费"。 然而， 在这只产品的网下投资者名单中却集中了43家证券公司的自营账户，以及更多的券商资管产品。 其财 务顾问中信建投证券更是以战略投资者身份，早早锁定了1.63%的发行份额。事实上，券商自营扎堆申购的情 况，也出现在近期发行的不少公募REITs产品中。 华泰联合证券相关业务负责人在接受券商中国记者采访时表示，券商资金负债端较为稳定，交易较为灵活，追 求绝对收益。在低息环境下，REITs相对稳定的高分红稀缺性凸显，近期二级市场表现强劲，自然受到券商基 金的重点关注。此外，REITs投资属于权益工具投资，可以计入FVOCI账户，在收获高额分红的同时，可避免 二级市场价格波动影响投资业绩。从目前战略投资者的占比来看，券商机构的持有量级已经超过保险资管成为 第一大类持有机构类型。 上周，创金 ...

Core Insights - The article emphasizes the importance of delivering actionable insights that help investors navigate complex markets, particularly focusing on emerging markets and under-the-radar opportunities [1]. Group 1 - The company has a strong focus on global equities, especially in emerging markets [1]. - The goal is to provide deep insights that go beyond typical headlines [1]. - The content is published on various platforms, including Seeking Alpha, TipRanks, and GuruFocus [1].

Core Insights - The article highlights the investment strategies of Fred Piard, who focuses on quality dividend stocks and tech innovation companies [1] - Fred Piard has over 30 years of experience in technology and has been investing in data-driven systematic strategies since 2010 [1] Investment Strategies - The investment group Quantitative Risk & Value shares a portfolio that includes quality dividend stocks and companies leading in technological innovation [1] - Fred Piard also provides market risk indicators, a real estate strategy, a bond strategy, and an income strategy in closed-end funds [1]

Group 1 - The Conservative Income Portfolio focuses on value stocks with high margins of safety and aims to reduce volatility through well-priced options [1] - The Enhanced Equity Income Solutions Portfolio is designed to generate yields of 7-9% while minimizing volatility [1] - LMP Capital and Income Fund Inc seeks global investment opportunities in companies with strong fundamentals and a clear market advantage [2] Group 2 - The Covered Calls Portfolio aims for lower volatility income investing with an emphasis on capital preservation [2] - The fixed income portfolio targets securities with high income potential and significant undervaluation compared to peers [2] - Trapping Value consists of analysts with over 40 years of combined experience in generating options income while focusing on capital preservation [3]

RT Mario Nawfal (@MarioNawfal)ELON CALLED IT: AI IS DRUNK ON LEFT-WING CONTENTA massive study tested 24 chatbots with political questions.The result? 23 bots sounded like they’d been binging progressive TikToks.Only 1 dared give right-leaning answers, but it was literally built to.Left-wing parties scored +0.71 for niceness, right-wing parties limped in at +0.15.Far-right ideas got roasted (-0.77), while far-left ones barely raised an eyebrow (+0.06).Even world leaders weren’t safe: lefties got kinder words ...

在这个世界里，如果你考虑到医疗保健和马斯洛的需求层次，就可以想象，第一阶段是你心脏病正发作，你必须立即解决这个问题，除此之外没有其他任 何事情重要，五分钟后没有任何事情比解决你现在的心脏病发作更重要，对我来说，这就像是处理一个高严重性的事故。 第二阶段是，你在处理一些慢性问题，比如你扭伤了脚踝，或者任何其他影响到你的疾病，很难提前三个月规划，因为这是每天都在影响你的事情。这与 DevOps 中的工作类似，处理一系列的警报，检查部署是否安全等等。 第三阶段，我把它看作是 " 生活黑客 " ，你在思考如何优化我的睡眠和营养，以便拥有一个高质量且充实的生活，这就相当于规划你接下来五年的基础设 施，以及如何现在就开始在正确的地方进行投资。如果我想象一下，目前 DevOps 和 SRE 工程师的生活状况，那就像是每周心脏病发作两次，并且每天都 在应对一种让人虚弱的慢性病。 图片来源： Sequoia Capital Z Highlights Anish Agarwal ， Traversal 联合创始人兼 CEO ， MIT 计算机科学博士。 Raj Agrawal ， Traversal 联合创始人， MIT 计算机 ...

Group 1 - The article introduces the John Hancock Preferred Income Fund (NYSE: HPI), which has not been previously covered by the company [1] - The company has a background in investment banking, focusing on providing transparency and analytics in capital markets instruments and trades [2] - The company aims to deliver high annualized returns with a low volatility profile, specifically targeting closed-end funds (CEFs), exchange-traded funds (ETFs), and special situations [2]

Various countries have tried to occupy the sparsely populated island. What makes it so special? https://t.co/uy7CTbUujp ...