Core Viewpoint - Insurance funds continue to show strong interest in Shanghai assets, specifically in rental housing projects, as evidenced by the recent investment in the Youmi community [2] Group 1: Investment Details - The "CITIC Jinshi Fund · Lingyu International Rental Housing Infrastructure Pre-REITs Fund" was established by AIA Insurance, Zhonghong Insurance, and others, focusing on rental housing investments [2] - The fund has invested in the Youmi community located in Songjiang, Shanghai, which consists of 2,252 rental units and covers an area of over 136,000 square meters [2][4] - The original shareholders of the asset include Lingyu International (20%), CITIC Jinshi (40%), Zhonghong Insurance (25%), and CITIC Securities (14.8462%) [4] Group 2: Future Plans - The Pre-REITs fund will be managed by CITIC Jinshi and operated by Lingyu International, with plans to incubate the Youmi community project for future public REITs listing [4] - The fund aims to further explore new project collaborations within the rental housing sector [4] Group 3: Other Investments - Beyond Shanghai, AIA Insurance has also acquired assets in Beijing, specifically a 95% stake in the CapitaLand Star Trade project for nearly 2.4 billion yuan [4]