Group 1 - The fund manager has the right to adjust management fees based on the fund's operational conditions, as the estimated net income and annualized yield may fluctuate due to market volatility [1] - The fund has received a payment of 27.4883 million yuan for national subsidies receivable, with an average repayment cycle of 2.15 years [8][10] - The fund will include the received national subsidy receivable in the fourth quarter's distributable amount for investor returns [9] Group 2 - The fund employs a factoring method with recourse to smooth cash flow and mitigate the risk of fluctuations in the repayment cycle of national subsidies receivable [7] - The total assets of the acquired project companies amount to 558.64 million yuan, with liabilities of 428.32 million yuan and equity of 130.33 million yuan as of the audit date [13]

Group 1 - The core viewpoint of the announcement is the update on the collection of national subsidies receivables and its impact on the fund's cash flow and investor returns [1][3][4] - The infrastructure project company has received a total of 257.8932 million yuan from the State Grid Jiangsu Electric Power Co., which has reduced the average collection period of national subsidies receivables to 1.95 years [3] - The fund will prioritize the repayment of factoring financing due by December 31, 2024, using the received funds, which is expected to reduce interest expenses by 1.7795 million yuan for the fund in 2025, thereby increasing the amount available for distribution to investors [3] Group 2 - To mitigate the volatility of the collection period for national subsidies receivables, the fund employs a bank recourse factoring method to smooth cash flow [2] - The factoring bank will purchase national subsidies receivables that are over 1.5 years old, providing immediate cash to the project company for distribution to investors [2] - The fund management will continue to monitor the collection of national subsidies receivables and will initiate factoring work for the receivables due by December 31, 2025, with an estimated amount of 551.6947 million yuan [4]

Group 1 - The announcement details the upcoming performance briefing for the CITIC Construction Investment Mingyang Intelligent New Energy Closed-End Infrastructure Securities Investment Fund, scheduled for April 15, 2025, from 14:00 to 16:20 [5][6] - The briefing aims to provide investors with a comprehensive understanding of the fund's operational results and financial status for the year 2024, following the release of its annual report on March 31, 2025 [5][4] - Participants in the briefing will include the fund manager, the initiator, and the operational management organization, who will address common investor inquiries within the scope of information disclosure [5][4] Group 2 - Investors can participate in the performance briefing via the Shanghai Stock Exchange Roadshow Center, with the option to submit questions via email until April 14, 2025, at 17:00 [2][6] - After the briefing, investors will have access to the recorded session and key content through the Shanghai Stock Exchange Roadshow Center [3][6]