Core Viewpoint - The approval and registration of the CICC China Green Development Commercial Asset Closed-End Infrastructure Securities Investment Fund marks the launch of the ninth consumer REIT in China, focusing on the Jinan Lingxiucheng Guihe Shopping Center as its underlying asset [1][2]. Group 1: Project Overview - The underlying asset, Jinan Lingxiucheng Guihe Shopping Center, is the largest single commercial project in southern Jinan, with a total construction area of approximately 200,900 square meters [2]. - The shopping center is strategically located near major transportation hubs, enhancing its accessibility and potential customer base, with a resident population of 475,500 within a 3-kilometer radius [2]. Group 2: Financial Performance - The projected net operating income (NOI) for the Jinan Lingxiucheng Guihe Shopping Center in 2024 is estimated to be 95.261 million yuan [3]. Group 3: Market Positioning and Strategy - The shopping center benefits from a stable consumer base, strong local market presence, and the backing of a state-owned enterprise, which provides confidence in its selection as the initial asset for the REIT [2]. - The management emphasizes the importance of diversifying customer traffic and enhancing profitability through innovative operational strategies, including green and intelligent initiatives [4][5]. Group 4: Future Plans and Expansion - The original equity holder aims to utilize public REITs to enhance asset management capabilities and support the national strategy of expanding domestic demand and boosting consumer confidence [6]. - Future plans include the potential inclusion of additional quality assets into the REIT platform, with a focus on creating a robust commercial asset management system [7].

Group 1 - Beijing Super Extreme Life Hub officially opened its East and West districts, marking a comprehensive upgrade of the project [1] - The West district opened on March 28, attracting over 40 million visitors and generating sales exceeding 3 billion yuan in its first year [1] - The East district introduced nearly 400 brands, with 20% being first stores, including notable attractions like an indoor diving center and the largest Huawei smart living store in Northern Beijing [1] Group 2 - The West district features nearly 300 brands, with 35% being first stores and flagship stores, including the first stores of several international fashion brands [1] - The combined area of the East and West districts is approximately 460,000 square meters, housing nearly 800 brands [1] - Since its opening on April 18, 2024, the hub has hosted over 1,500 events, enhancing its cultural, sports, and entertainment offerings [2] Group 3 - During the grand opening celebration, the hub attracted 415,000 visitors and achieved sales of over 20 million yuan [2] - The hub aims to integrate smart commerce with diverse emerging business formats to create personalized lifestyle spaces, catering to various consumer needs [2] - This initiative is expected to inject new commercial vitality into the Northern Beijing region and promote high-quality economic development [2]