（原标题：瓴寓国际轻资产变局：十年探路，"以退定投"） 在保租房领域，瓴寓国际探索的"国企+民企"合作模式初现成效。尽管保租房租金受限，但民水民电、 税收优惠及92%～93%的高出租率，使其实际收益颇具竞争力，该模式也实现了国企资源资金优势与民 企产品运营灵活性的互补共赢。 资本运作层面，瓴寓构建了覆盖开发型基金、Pre-REITs基金、稳定型基金的全周期资本合作体系，从 首单住房租赁持有型不动产ABS，到与中信金石、险资联合设立Pre-REITs基金，再到南京青晏阁的国 企民企合作模式，多元范本为行业提供参考。其核心竞争力在于"以退定投"战略与全链条资管能力—— 每个项目先明确退出路径、投资人要求与Cap Rate标准，再反向推导投资、产品与运营策略。 张爱华介绍，截至目前，瓴寓国际已累计完成12个项目的全流程退出，从上海浦江华侨城柚米社区（行 业首个"投融建管退"闭环项目），到南京青晏阁（国企民企合作标杆），再到中信金石Pre-REITs基金 孵化的松江项目，均实现了预期收益与资产增值。 这一成果的背后，是对三个关键阶段的精准把控：投资阶段以数据驱动决策，通过自研FALCON系统完 成客户描摹、市场研判与 ...

Core Insights - The event during the China International Import Expo focused on the future development of China's health and elderly care industry, highlighting the "investment, financing, construction, management, and exit" full-chain approach [1][2] - The launch of the "Bank of China Silver Economy" brand and the "Silver Partners Program" marks a significant step in enhancing cooperation in the silver economy sector [1][3] Group 1: Event Overview - The forum was organized by the Bank of China, supported by Lijun Think Tank and Fudan University International Finance Institute, aiming to deepen cooperation in the silver economy [1] - The event featured a promotional ceremony for the "Bank of China Silver Economy" brand, emphasizing its two main systems designed to meet individual elderly care needs and empower the industry [1] Group 2: Key Discussions - Industry leaders shared insights on the five core aspects of the health and elderly care industry, providing valuable decision-making references for nearly a hundred participants [2] - A roundtable discussion included representatives from international health care companies, who praised the Bank of China's platform for facilitating connections across the industry [2] Group 3: Strategic Importance - The successful hosting of this event highlights the Bank of China's proactive role in addressing the challenges of an aging population and promoting high-quality development in the silver economy [3] - Through systematic operations of the "Bank of China Silver Economy" brand and the ecological construction of the "Silver Partners Program," the bank aims to gather wisdom and resources for sustainable development in the health and elderly care industry [3]

Core Viewpoint - China Jinmao is focusing on deepening its second growth curve as a core strategic direction, emphasizing high-quality asset management and sustainable growth through its premium holding business [1][15]. Group 1: Business Expansion and Strategy - The company has expanded its holding business to 80 operational projects, covering approximately 3.6 million square meters, with a total holding scale nearing 6 million square meters when including in-progress and planned projects [2]. - China Jinmao is strategically positioned in key cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, creating a diversified portfolio that includes office buildings, hotels, and commercial spaces [2]. - The launch of benchmark projects like Beijing You'anfu Long-term Rental Apartments and Qingdao Oriental Eden Park in 2025 will enhance the company's competitive advantage in the commercial asset sector [1][2]. Group 2: Project Highlights - The "Fengmaoli" community commercial brand has successfully opened in cities like Suzhou and Changsha, achieving a 100% occupancy rate at its recent launch, marking a high point for commercial project openings in Changshu [2]. - The Oriental Eden Park, which opened on June 28, is Asia's first ecological IP park focused on water, featuring four themed venues aimed at educating the public about water conservation [4]. - The company is also developing the "Canal 1958" commercial street in Danyang, which integrates commerce, industry, and ecology, set to open by the end of December [5][7]. Group 3: Operational Excellence and Future Plans - China Jinmao ranks 14th in the operational income ranking of domestic real estate companies, showcasing its strong operational capabilities beyond residential development [4]. - The company is committed to enhancing its asset management capabilities through a full-cycle operational approach, which includes investment, financing, construction, management, and exit strategies [15]. - Future projects in cities like Hangzhou, Wuhan, and Shanghai are being planned to further expand the company's commercial footprint and diversify its asset portfolio [9][12][14].