Group 1 - The core viewpoint of the article is the recent submission of the Zhonghang Tianhong Consumption REIT application, which has been accepted by the China Securities Regulatory Commission [2][5] - The application process took over two years from preparation to formal submission [4] - The project involves the Suzhou Xiangcheng Tianhong Shopping Center as the underlying asset, with a planned issuance period not exceeding 30 years and a total transaction amount not exceeding 60 million [5][6] Group 2 - The public REITs market is currently experiencing a period of adjustment, with many individual REITs seeing declines of over 10% since late June [2][9] - The CSI REITs Total Return Index reached a two-year high of 1124.91 points on June 24, but has since entered a phase of volatility, with an overall decline of more than 2.5% [9] - Recent trading days have shown that 24 public REITs have experienced cumulative declines exceeding 2%, with three of them dropping more than 5% [9][10] - The market is expected to continue a sideways trend until new significant market variables emerge [10]

Core Viewpoint - The recent acceptance of the Huaxia Anbo Warehousing and Logistics REIT by the Shenzhen Stock Exchange marks a significant development in the public REIT market, alongside the upcoming issuance of Huaxia Huadian Clean Energy REIT and Chuangjin Hexin Shounong REIT next week [1][6]. Group 1: Huaxia Anbo Warehousing and Logistics REIT - The Huaxia Anbo Warehousing and Logistics REIT has been officially accepted by the Shenzhen Stock Exchange, with the original rights holder being PCCLF Holding PTE.LTD. and managed by Huaxia Fund Management Co., Ltd. [3][4] - This REIT focuses on high-quality warehousing projects located in key logistics nodes within the Guangdong-Hong Kong-Macao Greater Bay Area, specifically in Guangzhou and Dongguan [4][5]. - The project boasts several core advantages, including its strategic location in the manufacturing hub of Dongguan, high-standard infrastructure, and a diverse tenant structure that includes well-known companies like JD.com and Deppon [5]. Group 2: Upcoming REIT Issuances - The Huaxia Huadian Clean Energy REIT completed its inquiry phase with a subscription multiple of 224.26 times, and is set to raise approximately 1.8945 billion yuan [7]. - Chuangjin Hexin Shounong REIT also completed its inquiry with a subscription multiple of 128.95 times, aiming to raise around 3.685 billion yuan [7]. - Additionally, two other REITs, Nanfang Runze Technology Data Center REIT and Nanfang Wanguo Data Center REIT, are in the inquiry phase with specified price ranges [7]. Group 3: Other REIT Developments - On June 26, the Huaxia Zhonghai Commercial Asset REIT was also accepted by the Shenzhen Stock Exchange, with its underlying assets located in Foshan, Guangdong [8].

Core Viewpoint - The public REITs market in China is experiencing growth with new offerings, including the acceptance of the Huaxia Anbo Warehousing Logistics REIT and upcoming issuances of Huaxia Huadian Clean Energy REIT and Chuangjin Hexin Shounong REIT [2][7] Group 1: Huaxia Anbo Warehousing Logistics REIT - Huaxia Anbo Warehousing Logistics REIT has been accepted by the Shenzhen Stock Exchange, with PCCLF Holding PTE.LTD. as the original rights holder and Huaxia Fund Management Co., Ltd. as the fund manager [4] - The REIT focuses on high-quality warehousing projects in the Guangdong-Hong Kong-Macao Greater Bay Area, including three projects in Guangzhou and Dongguan [5] - Key advantages include location scarcity, high-standard hardware, and a diverse tenant structure with major clients like JD.com and Deppon [5][6] - The REIT aims for stable rental cash flow, with a distribution ratio of no less than 90% of the annual distributable amount, projecting a cash distribution rate of 5.00% in 2025 and 5.02% in 2026 [5] Group 2: Upcoming REIT Issuances - Huaxia Huadian Clean Energy REIT completed its inquiry with 514 subscription objects and a subscription multiple of 224.26 times, with an expected fundraising total of 1.8945 billion yuan [8] - Chuangjin Hexin Shounong REIT also completed its inquiry with 566 subscription objects and a subscription multiple of 128.95 times, aiming to raise 3.685 billion yuan [8] - Two additional REITs, Southern Runze Technology Data Center REIT and Southern Wanguo Data Center REIT, are set for inquiry with price ranges specified [8] Group 3: Other REIT Developments - On June 26, Huaxia Zhonghai Commercial Asset REIT was accepted by the Shenzhen Stock Exchange, focusing on a mixed-use shopping center in Foshan [9]