截至6月9日收盘，亿达中国（03639.HK）报0.062港元，较上个交易日下跌6.06%，当日盘中最低价触 及0.060港元，创近一年新低。 资金流向方面，当日主力流入0.756万港元，流出5.221万港元，净流出4.46万港元。 亿达中国控股有限公司(股票代码:3639.HK)于2014年6月27日在香港联交所主板上市,是集园区开发、园 区运营、工程建设等业务于一体的综合性集团化企业。作为中国领先的商务园区运营商,秉承"以产促 城、产城融合、协调发展、共创价值"的运营理念,自1998年开始,亿达中国重点布局京津冀、长三角、大 湾区、中西部及其他经济活跃区,已在全国二十余个城市先后开发和运营了大连软件园、武汉软件新 城、郑州亿达科技新城、长沙亿达中建智慧科技中心、重庆亿达创智广场、成都亿达天府智慧科技城、 合肥亿达智慧科技城、沈阳中德亿达智慧科技城、北京中关村壹号等50余个产业园项目,凝聚了包括近 百家世界五百强企业、百余家行业百强企业在内的两千五百余家企业客户和合作伙伴,积累了丰富的产 业园区开发建设和运营管理的经验,形成了独特的商业模式和产业优势。聚集智慧产业,打造智慧新城。 亿达中国致力于在更多的城市 ...

建邺高投集团作为建邺区人民政府授权的产业园区基础设施投融资、建设和运营管理主体，始终致力于 为建邺发展提供优质的产业园区载体和全方位的服务保障。集团紧密围绕"金融＋数字经济"的建邺主导 产业和园区精细管理的发展目标，践行园区"建设、运营、服务"一体式发展规划，不断做强做优产业园 运营业务。 未来，建邺高投集团将持续打造基础设施"募投管退"的全链条业务，以"孵化一批、成熟一批、上市一 批"的资产管理模式，助推南京市产业园区基础设施常态化REITs发行，为地方经济引入更多民间资本， 形成资本与实体经济良性互动的双赢格局。 本报讯(建宣鹿琳)近日，第十一届中国资产证券化论坛年会在北京召开。由建邺区高新科技投资集团有 限公司(简称"建邺高投集团")担任原始权益人和运营管理机构，由华泰证券旗下华泰证券(上海)资产管 理有限公司担任基金管理人和资产支持证券管理人的"华泰紫金南京建邺产业园封闭式基础设施证券投 资基金"(简称"华泰南京建邺REIT")荣获"公募REITs年度优秀项目"殊荣，系唯一一个获得该称号的产业 园区类项目。 华泰南京建邺REIT于去年12月3日在上海证券交易所正式上市，是南京市首单产业园类基础设施公募 ...

Core Insights - Yangpu District offers a diverse range of industrial park properties that cater to various business needs, which is beneficial for company growth and operations [1] Property Types - The industrial parks in Yangpu provide a variety of property types, including shared office spaces for startups and independent office buildings for larger enterprises, accommodating different stages of business development [2] - Shared office spaces come equipped with desks and low-cost meeting rooms, while independent buildings feature dedicated parking and elevators, enhancing operational efficiency [2] Geographic Advantage - Many parks are strategically located near transportation hubs, such as subway stations, facilitating employee commutes and enhancing overall job satisfaction [3] - The surrounding commercial amenities, including restaurants and convenience stores, meet employees' daily needs and help businesses attract and retain talent [3] Infrastructure and Facilities - The parks are equipped with reliable high-speed internet and advanced security systems, ensuring smooth daily operations and safeguarding company assets [4] - Energy-efficient lighting and comfortable air conditioning systems are installed to meet office requirements, enhancing the company's image and professionalism [6] Policy Incentives - Yangpu District has implemented various incentive policies to attract businesses, including rental subsidies and tax refunds for qualifying companies, alleviating financial burdens [7] - These measures are particularly crucial for small and micro enterprises, allowing them to invest more in core business activities and promote rapid growth [7] Support Services - Most parks offer additional services such as management consulting and technical support, helping businesses navigate administrative challenges [8] - Regular technical exchange meetings and industry networking events are organized to facilitate communication and collaboration among companies, fostering resource sharing and mutual development [8]

研 究 专 题 2025 年 06 月 04 日 中金亦庄 REIT（508080）申购价值分析 投资提示： 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 任奕璇 (8621)23297818× renyx2@swsresearch.com 行 证 券 研 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 中庚基金 使用。1 新 股 发 究 报 告 相关研究 - ⚫ 中金亦庄 REIT 首发询价期间为 2025 年 6 月 5 日的 9:00-15:00，初步询价区间为 2.257 元/份-2.758 元/份，预计募集资金为 10.03 亿元。 ⚫ 汽车产业聚集效应显著，原始权益人运营资产丰富。中金亦庄 REIT 的基础设施项目为高端 汽车及新能源汽车关键零配件产业园 N12 项目、N20 项目，位于北京市大兴区，目前已运 营超过 5 年，项目租户中汽车制造业租户租赁 ...

在政策利好、资本支持及产业红利等多重因素影响下，我国产业园区发展正从规模扩张转向价值重构新 阶段。 观点指数研究院方面表示，目前，产业园区面临的困难主要在于无法精准招商，存在即使降低租金也无 法持续维持较低空置率的问题。面对经济波动，此前土地财政模式下的政策扶持、区域供给不平衡、同 质化分布、粗放经营等问题开始涌现。如何解决这些难题，成为摆在园区运营商面前的紧迫任务。 据观点指数研究院日前发布的《卓越指数·2025产业园区运营卓越表现报告》，截至2024年年底，全国 产业园区总数超8万家，其中国家级开发区693家，省级开发区近2600家。此外，新增园区面积持续增 长，预计2025年总供应量将突破62亿平方米。 《中国经营报》记者注意到，园区数量和面积持续增长，离不开政策利好持续释放。据不完全统计， 2024年，全国各地出台的促进新兴产业发展及加大人才扶持力度的相关政策达35个，这些政策鼓励园区 向"产业结构高端化、能源供给低碳化、土地利用集约化、园区管理数智化"方向转型，为产业园区建设 发展提供了有力的政策保障。 不过，全国产业园区总存量进一步扩大，但企业扩张需求受全球经济复苏乏力影响持续收缩，供需剪刀 差进 ...

2025 年 6 月 4 日 截至 2025 年 5 月 31 日，我国公募 REITs 产品数量达 66 只，合计发行规模达 1743.93 亿元（不含扩募）。从底层资产类型来看，截至 2025 年 5 月 31 日， 交通基础设施类发行规模最大，共发行 687.71 亿元，园区基础设施类 REITs 发 行规模次之，为 270.62 亿元。 根据上交所及深交所项目动态披露，截至 2025 年 5 月 31 日，共有 26 只 REITs 处于待上市状态，其中 14 只为首发 REITs，另外 12 只为待扩募 REITs。 2、 二级市场表现 总量研究 二级市场价格震荡上行，多只 REITs 产品等待上市 ——REITs 月度观察（20250501-20250531） 要点 1、 一级市场 价格走势：2025 年 5 月 1 日-2025 年 5 月 31 日，我国已上市公募 REITs 的二 级市场价格整体震荡上行：加权 REITs 指数收于 139.99，本月回报率为 3.71%。 与其他主流大类资产相比，回报率由高至低排序分别为：美股>可转债>REITs>A 股>黄金>纯债>原油。 从项目属性来看， ...

Core Viewpoint - The transformation of the former motorcycle factory into the Wanhu Creative Industry Park demonstrates a successful case of industrial upgrading and urban renewal, catering to diverse urban needs such as automotive services, leisure, and social activities [2][11]. Group 1: Transformation and Development - The Wanhu Creative Industry Park, previously a motorcycle production facility, has been repurposed into a cultural and creative hub, featuring amenities like a colorful tennis court and a banquet art center, attracting a younger demographic [2][5]. - The park has achieved a 100% occupancy rate, indicating strong demand for its new offerings [2][5]. - The total investment for the project is estimated at 150 million yuan, with a building area of approximately 72,700 square meters, all derived from the renovation of existing structures [4][5]. Group 2: Economic Impact and Revenue Generation - The park's banquet art center spans over 8,000 square meters and hosts a high volume of events, with daily foot traffic reaching 3,000 visitors [5][9]. - The facility is particularly busy during weekends, with a full booking schedule for weddings and other celebrations [5][9]. - The introduction of a rooftop photovoltaic system aims to enhance the park's green credentials and reduce electricity costs, with an expected annual power generation of around 900,000 kWh once fully operational [9][10]. Group 3: Future Prospects and Innovations - The rooftop solar project is designed to accommodate the park's significant electricity consumption, particularly from the live streaming base, which operates primarily during daylight hours [10]. - The use of lightweight solar components allows for installation without disrupting park operations, ensuring continuous revenue generation [10]. - Future plans may include the installation of solar carports and energy storage solutions to further enhance sustainability [10].

Core Viewpoint - Chengdu is focusing on the development of specialized manufacturing industrial parks to enhance industrial resource aggregation and promote cluster development, aiming for a modernized industrial ecosystem with distinct characteristics and efficient operations [1][2]. Group 1: Development Goals - By the end of 2025, Chengdu aims to cultivate and recognize a batch of municipal-level specialized industrial parks, achieving the goal of "one park, one leading enterprise, one platform" [2][4]. - By the end of 2030, the number of municipal-level specialized industrial parks is expected to gradually increase, with more distinct industrial characteristics, a more concentrated market presence, and more efficient operational management [2][4]. Group 2: Implementation Strategy - The initiative involves a "garden within a garden" approach, focusing on specific sub-sectors to create specialized (professional) parks, as part of the "Establishing and Filling Parks" action launched in October last year [2][3]. - The Chengdu Economic and Information Commission has issued a notice to promote the "Industrial Cluster Enhancement Action Plan," which aims to build a batch of specialized manufacturing industrial parks within provincial and above-level development zones [2][4]. Group 3: Selection of Specialized Industries - The selection of specialized industries for the parks will follow the "6+9+10" modern industrial system framework, categorizing them into three types: advantageous industries, strategic emerging industries, and future industries, totaling 25 fields [3]. - The cultivation of specialized industrial parks will include "entry competitions" and "ranking competitions" to support parks in competing for advancement [3][4]. Group 4: Resource Integration and Support - The Chengdu Economic and Information Commission will enhance resource integration and coordination, ensuring effective planning, guidance, and policy support for the specialized manufacturing industrial parks [4].

Core Viewpoint - The emergence of the fifth-generation industrial park, also known as the empowering industrial park, signifies a profound paradigm shift in global industrial parks, moving beyond merely providing physical space to offering comprehensive, customized empowering services through advanced technologies and innovative concepts [1][2]. Group 1: Evolution of Industrial Parks - The rise of the fifth-generation industrial park is a natural outcome of the intertwining of multiple socio-economic and technological transformations in today's world [2]. - Traditional industrial parks are increasingly unable to meet the diverse and high-quality demands of modern industry due to their limitations in functionality and management [2]. - Breakthroughs in new information technologies, such as artificial intelligence, IoT, and big data, have fundamentally changed the operational management models of industrial parks [2][3]. Group 2: Technological Integration - IoT technology enables real-time remote monitoring of equipment within the park, significantly improving operational efficiency and reliability [3]. - Big data analytics allows for in-depth analysis of operational and market data, providing personalized and efficient services to enterprises [3]. - The deep integration of digital technology with the real economy has led to the emergence of new industrial forms, such as smart manufacturing and blockchain applications [3]. Group 3: Focus on Emerging Industries - The fifth-generation industrial park emphasizes the development of high-tech industries like semiconductor equipment and biomedicine, creating a robust ecosystem through the integration of innovation, industry, and finance [4]. - Traditional industries are compelled to transition towards high-end manufacturing and strategic emerging industries due to long-standing challenges of high resource consumption and low added value [4]. Group 4: Urban Integration - The acceleration of urbanization has made "integration of production and city" a mainstream trend, with the fifth-generation industrial park addressing issues of employee living conditions by enhancing supporting facilities [5]. - These parks aim to create a comprehensive environment that integrates work, life, and ecology, significantly improving the quality of life and attractiveness for talent [5]. Group 5: Comprehensive Innovation - Compared to previous generations, the fifth-generation industrial park has achieved a comprehensive innovation in concepts, models, and functions, transitioning from "space providers" to "ecosystem enablers" [6]. - The parks offer diversified services such as equity investment and technology sharing, supporting the full lifecycle growth of enterprises [6]. - The integration of six elements (industry, education, research, finance, users, and government) fosters an open and collaborative innovation network [6]. Group 6: International Collaboration - The fifth-generation industrial park breaks regional limitations and promotes international resource integration, exemplified by Sino-German cooperation parks [7]. - These parks leverage international technology and local market resources to enhance production efficiency and innovation [7]. Group 7: Future Prospects - The fifth-generation industrial park is positioned as a key carrier of new productive forces, emphasizing the importance of service-oriented production capabilities [8]. - The parks are expected to lead a new round of industrial revolution, injecting sustainable momentum into regional economic development [11]. - Balancing innovation with regulation and efficiency with equity will be crucial for the success of these parks [11].

他表示，未来十年，昌发展将持续发挥自身桥梁作用。做好科技成果转化的"摆渡人"，嫁接好从实验室 到生产与市场的"最后一公里"；做好产业生态的"编织者"，构建"产业孵化—加速—资本赋能"的全链条 服务体系；当好产业伙伴成长过程中的"同路人"，热切呼应企业发展需求，进行持续赋能；努力成为区 域产业发展的"开拓者"，通过对于未来产业的精准谋划，助推区域创建市级未来产业先导区。 5月21日，由昌发展集团主办的未来产业发展研讨会暨昌发展产业生态伙伴交流会在昌平举行。会上， 昌发展集团亮出过去十年的核心成果，并进行多个项目签约和启动。 "昌发展在昌平区委区政府的指导下应运而生，十年来在产业空间、科技金融、创新服务等方面不断深 耕，陪伴众多企业从初创到壮大，见证了区域产业的焕新升级。"昌发展集团董事长、党委书记王彧在 致辞时说。 三是促进重大项目引进，增加区域经济贡献。投资引入近70家企业来昌平区发展，服务10余家企业加速 上市工作，带动10家市场化私募基金在昌平区设立。 活动现场还进行多个项目签约和启动，昌发展集团通过引入清华大学能源大模型创新团队、落位"清华 校友AI+场景创新工作营"、组建专家顾问团、启动出海服务中心等 ...