Group 1 - The fund managed by CICC Fund Management Co., Ltd. has successfully completed its fundraising period, raising a net subscription amount of 1,088,000,000 yuan [1][2] - The total number of valid subscriptions during the fundraising period was 43,268, resulting in a total of 400,000,000 shares being issued [2] - The fund's interest accrued during the fundraising period amounted to 5,619,801.20 yuan [1][2] Group 2 - The fund is managed by three experienced fund managers: Zhou Jiacheng, Wang Shunzheng, and Shi Jianxing, all of whom have over five years of experience in infrastructure project investment or management [1] - Zhou Jiacheng previously held senior positions at CITIC Securities Co., Ltd. and is currently the Deputy General Manager of the Innovation Investment Department at CICC Fund Management [1] - Wang Shunzheng has experience as an operations risk control manager at a data service company and is now a senior manager in the same department at CICC Fund Management [1] - Shi Jianxing has held financial management roles at Huaxia Happiness Industry Co., Ltd. and is currently the manager of the Innovation Investment Department at CICC Fund Management [1]

Core Viewpoint - The launch of the Zhongjin Yizhuang Industrial Park REIT marks a significant step in promoting high-quality economic development in the Beijing Economic-Technological Development Area, focusing on the automotive manufacturing industry chain [1][2]. Group 1: Fund Overview - The Zhongjin Yizhuang Industrial Park REIT was listed on the Shanghai Stock Exchange on June 26, with a total of 400 million fund shares issued at a price of 2.720 yuan per share, raising a total of 1.088 billion yuan [1]. - The fund is initiated by Beijing Yizhuang Investment Holding Co., Ltd., with the original rights holder being its wholly-owned subsidiary, Beijing Yizhuang Shengyuan Investment Development Group Co., Ltd. [1]. Group 2: Asset Details - The fund's assets include two key projects located in the Beijing Economic-Technological Development Area, specifically the N12 and N20 projects, with a combined construction area of approximately 128,600 square meters [2]. - These projects have been operational for over five years and primarily serve well-known vehicle manufacturers and intelligent driving companies, aligning with the strategic goals of enhancing the capital's core functions and creating a high-end manufacturing cluster [2]. Group 3: Company Background - Yizhuang Shengyuan, as a professional entity within the Yizhuang Holding system, focuses on the comprehensive operation of high-end specialty industrial parks, emphasizing a government-led and state-owned enterprise implementation approach [3]. - As of the end of 2024, the initiator and original rights holder have quality expandable assets with a book value exceeding 13 billion yuan, indicating a rich reserve of expandable assets [3]. Group 4: Market Context - The REITs market is experiencing steady growth, with a total of 67 publicly listed REITs, of which 45 are listed on the Shanghai Stock Exchange [3]. - The Zhongjin Yizhuang Industrial Park REIT is the 13th industrial park REIT listed on the Shanghai Stock Exchange, expected to demonstrate significant scale and exemplary effects within the sector [3].

Core Viewpoint - The announcement details the issuance of the CICC Yizhuang Industrial Park Closed-End Infrastructure Securities Investment Fund, outlining the fundraising process, pricing, and subscription methods for institutional and public investors [15][19]. Group 1: Fund Issuance Details - The total number of fund shares approved for issuance is 400 million, with 280 million shares allocated for strategic placement, accounting for 70% of the total issuance [15][19]. - The initial issuance for offline sales is set at 84 million shares, representing 70% of the remaining shares after strategic placement, while the public offering will consist of 36 million shares, making up 30% [16][19]. - The pricing range for the fund shares is determined to be between 2.257 yuan and 2.758 yuan per share, with the final price to be established through offline inquiries [20]. Group 2: Subscription Process - The fund will be offered through a combination of strategic placements, offline inquiries, and public offerings, with specific arrangements for each category of investors [3][19]. - Offline investors must submit their subscription requests and payments simultaneously during the subscription period, using accounts registered with the Securities Association [8][18]. - The maximum subscription amount for each placement object is capped at 84 million shares [5]. Group 3: Investor Eligibility and Requirements - Eligible offline investors include professional institutional investors such as securities companies, fund management companies, and qualified foreign institutional investors, among others [4][34]. - Investors must complete registration and submit relevant verification materials by June 4, 2025, to participate in the offline inquiry [39][40]. - Strategic investors are required to sign a Strategic Placement Agreement and are prohibited from participating in the offline inquiry [24][27]. Group 4: Lock-Up Period and Trading Restrictions - The public offering shares will have no trading restrictions or lock-up periods, allowing immediate trading upon listing [21][22]. - For offline investors, if their total subscription does not exceed 100 times the initial issuance amount, they can only trade 50% of their allocated shares in the first three trading days after listing [22].

Core Viewpoint - The China International Capital Corporation (CICC) has received approval from the China Securities Regulatory Commission (CSRC) for the establishment of the CICC Yizhuang Industrial Park closed-end infrastructure securities investment fund, marking the first REIT project in China focused on the automotive manufacturing industry chain [1]. Group 1: Fund Details - The CICC Yizhuang Industrial Park REIT will invest in infrastructure assets located in the Beijing Economic-Technological Development Area, specifically targeting high-end automotive and new energy vehicle key component industrial parks [5]. - The REIT aims to become a global hub for high-end automotive key components and a forefront of technological innovation in the capital, focusing on "high-end equipment + intelligent manufacturing + innovative research and development" [5]. Group 2: Strategic Importance - The current enterprises within the infrastructure assets primarily provide upstream and downstream products and services to well-known vehicle manufacturers and intelligent driving companies, aligning with the strategic goals of enhancing the core functions of the capital and creating a high-end manufacturing industry cluster [9]. - This project is the first infrastructure REIT in the Beijing Economic-Technological Development Area, initiated by Beijing Yizhuang Investment Holding Co., Ltd., with the original rights holder being its wholly-owned subsidiary, Beijing Yizhuang Shengyuan Investment Development Group Co., Ltd. [9]. Group 3: Asset and Development Overview - Yizhuang Holding has established 57 industrial platforms, including industrial parks and customized factories, covering a total construction area of nearly 4 million square meters and hosting over 5,000 enterprises, including 391 high-tech companies [9]. - As of the end of 2024, the initiator and original rights holder have a total book value of quality assets exceeding 13 billion yuan, indicating a rich reserve of expandable assets [9].