Core Viewpoint - Century Internet has successfully issued the first green real estate asset-backed securities (ABS) in the national data center industry, which will enhance the operational and capital efficiency of the company [2][3]. Group 1: Project Details - The project, named "Taibao Asset-Century Internet Data Center Holding Real Estate Green Asset Support Special Plan," has a total issuance scale of 860 million yuan [2]. - Century Internet acts as the issuer and original rights holder, while Pacific Asset Management serves as the plan manager and lead sales institution [2]. - The underlying assets consist of urban IDC projects located in core cities, which have a high demand for data centers and a stable cash flow due to long-term service agreements with various enterprises [2]. Group 2: Financial Implications - The innovative financial tool of holding-type real estate ABS allows Century Internet to effectively revitalize existing IDC assets and recover funds for technology iteration, capacity expansion, and mergers and acquisitions [3]. - This approach helps the company to break free from the constraints of heavy asset funding, thereby improving both operational and capital efficiency [3].