Core Viewpoint - The company, Bosera Fund Management Co., plans to apply for a second round of fundraising for the Bosera China Merchants Shekou Industrial Park Closed-End Infrastructure Securities Investment Fund, aiming to acquire new infrastructure projects [1][2]. Group 1: Fund Performance and Structure - The fund was established on June 7, 2021, and its first issuance was listed on June 21, 2021, with the first expansion completed on June 16, 2023 [1]. - As of December 31, 2024, the fund's net asset value per share is 2.2227 yuan, with a total of 1,421,130,866 shares and total assets of 3,686,882,315.25 yuan [1]. - The fund has conducted eight distributions, with a total dividend amount of 352,633,383.71 yuan, representing 99.02% of the cumulative distributable amount [1]. Group 2: New Infrastructure Projects - The new infrastructure projects to be acquired include the Guangming Project (Phase II) and the Nanyou Project, both located in Shenzhen [2]. - The Guangming Project consists of multiple buildings designated for research and development offices, research factories, and supporting dormitories [2]. - The Nanyou Project includes warehouses and auxiliary buildings in the Qianhai area of Shenzhen, enhancing asset diversification and reducing risks associated with single areas or parks [2]. Group 3: Strategic Implications - The largest fund holder, China Merchants Shekou, initially held 32% of the fund's shares, and the expansion will further promote a virtuous cycle of "development-operation-capitalization-reinvestment" [3]. - The expansion aligns with the company's strategy of combining light and heavy development, enhancing the full lifecycle development model of "investment, financing, construction, management, and exit" [3]. - The fundraising will be conducted through unspecified and specified offerings, with details to be announced later [3].