Core Insights - The listing of Huaxia Kaide Commercial REIT on the Shanghai Stock Exchange marks the first consumer REIT project initiated by an international asset management company in China, indicating a significant step towards the internationalization and diversification of China's public REITs market [1][3] Group 1: Market Performance - On its first trading day, Huaxia Kaide Commercial REIT saw a price increase of 12.63%, closing at 6.440 yuan per share [1][2] - The fund's total issuance was 400 million shares at a price of 5.718 yuan per share, raising a total of 22.872 billion yuan [3] Group 2: Fund Management and Assets - The controlling shareholder of Huaxia Kaide Commercial REIT, CapitaLand, is a well-known international real estate asset management company based in Singapore, with fund management handled by Huaxia Fund Management Co., Ltd. and special plan management by CITIC Securities Co., Ltd. [2][3] - The underlying assets of the REIT consist of two mature shopping centers located in the core business districts of Guangzhou and Changsha, with a total construction area of approximately 168,400 square meters and projected combined revenue of 251.9624 million yuan for 2024 [2][3] Group 3: Industry Context - As of now, there are 51 REITs listed on the Shanghai Stock Exchange, with a total financing scale of 134.39 billion yuan, showcasing an expanding range of asset types and a more diverse set of participants and investors [3]