Group 1: Fund Overview - The fund holds infrastructure assets including the Guanggu Software Park and the Internet+ project, both located in Wuhan's Guanggu High-tech Zone, which are part of the core properties in the Guanggu Optoelectronic Information Industry Park [1][3]. Group 2: Operating Performance - As of June 30, 2025, the overall rental collection rate for the infrastructure assets was 91.84%, a decrease of 4.45% year-on-year, with the Guanggu Software Park at 96.89% (up 1.72%) and the Internet+ project at 66.28% (down 34.91%) [3]. - The overall occupancy rate for the infrastructure assets was 72.66%, down 17.28% year-on-year, and the average rental price was 59.90 yuan per square meter per month, down 3.73% year-on-year [2][3]. Group 3: Revenue Analysis - The total revenue for the second quarter of 2025 was 20.83 million yuan, a year-on-year decrease of 24.04% compared to the second quarter of 2024 [2]. - By mid-2025, the operating revenue was only 46.15% of the forecasted revenue for the entire year as per the 2024 evaluation report, primarily due to tenant turnover and slower absorption of vacant space in the Guanggu Software Park [7]. Group 4: Market Conditions - The regional market for industrial parks is under pressure, with an average rental price of 47 yuan per square meter per month and an average vacancy rate of about 25% in Wuhan's industrial parks as of the second quarter of 2025 [4]. - Increased competition from both existing and newly developed office buildings in the area has led to significant fluctuations in occupancy rates [4]. Group 5: Strategic Responses - The fund management has implemented flexible pricing strategies to attract more clients, adjusting rental prices for renewals and new leases to maintain a balance between rental income and occupancy rates [5]. - Measures taken include proactive communication with potential clients, renovation of rental spaces to meet diverse business needs, and monitoring of rental payment statuses to ensure asset income security [8][9].