Core Viewpoint - The article highlights the increasing investor interest in high-dividend, undervalued assets in the Hong Kong stock market, with Shoucheng Holdings (697.HK) positioned as a strong candidate due to its strategic investments in data center REITs, providing a dual value of "defense + growth" [1][2]. Group 1: Investment Strategy - Shoucheng Holdings has made strategic investments in Southern Universal Data Center REIT and Southern Runze Technology REIT, optimizing its asset portfolio and enhancing its high dividend characteristics [1]. - The company’s focus on data center REITs, which offer stable rental income and controllable operating costs, supports a continuous cash flow, thereby increasing the potential for future dividends [1][2]. - The company is currently undervalued compared to similar infrastructure REITs, despite having superior asset quality and cash flow stability [1][2]. Group 2: Financial Performance - The company’s total dividend scale for 2024 is projected to exceed 200% of the net profit attributable to shareholders, indicating strong future dividend capabilities [2]. - The expansion of the Chinese REITs market allows Shoucheng Holdings to diversify its asset allocation, further mitigating risks and enhancing revenue stability [2][3]. Group 3: Operational Strengths - Shoucheng Holdings operates on a "dual-wheel drive" model of "industry + capital," enabling it to identify, acquire, and manage high-quality infrastructure assets effectively [3]. - The company’s deep involvement in REITs projects enhances its ability to maximize asset returns and improve liquidity and return rates [3]. - The focus on standardizing, securitizing, and liquidating assets transforms stable assets into efficient capital operation tools, thereby continuously enhancing shareholder returns [3]. Group 4: Market Positioning - In a global market increasingly favoring "certainty," Shoucheng Holdings' model of "infrastructure + high dividends" is highly attractive, providing predictable cash dividends while exploring high-growth assets [4]. - The ongoing securitization of data centers, urban renewal, and green energy assets will diversify the company’s cash flow sources and dividend capabilities [4]. - As a rare high-dividend infrastructure platform in the Hong Kong market, Shoucheng Holdings offers a unique value proposition of stable operational income and clear capital return pathways, establishing a strong competitive moat [4].