Core Viewpoint - The company is issuing commercial real estate REITs to enhance the value of its commercial assets and support sustainable development, aligning with national policies for high-quality capital market development [1][2] Group 1: Company Actions - The company approved the issuance of commercial real estate REITs at its board meeting on February 9, 2026, as a strategic move to activate its commercial assets and enhance long-term value [1] - The establishment of the commercial real estate REITs platform aims to create a comprehensive asset operation model covering investment, financing, construction, management, and exit [1] - The issuance of REITs will not constitute a related party transaction or a significant asset restructuring as defined by relevant regulations [1] Group 2: Industry Implications - The issuance of commercial real estate REITs is a significant step for the company to leverage innovative financing tools, optimize resource allocation in the industry, and support the development of a new real estate model [2] - This initiative is expected to broaden financing channels, effectively activate existing assets, and enhance the quality and efficiency of asset operations, contributing to sustainable development [2]

Core Viewpoint - The company has approved the issuance of commercial real estate REITs to enhance the value of its commercial assets and support sustainable development [1][2] Group 1: Company Actions - The company held its 58th meeting of the 10th Board of Directors on February 9, 2026, where it approved the issuance of commercial real estate REITs based on the Songjiazhuang Fumao project and other related assets [1] - The issuance of commercial real estate REITs is a significant measure for the company to implement the central government's directives on promoting high-quality capital market development [1][2] - The establishment of the commercial real estate REITs platform aims to create a comprehensive operational model for commercial assets, covering investment, financing, construction, management, and exit [1] Group 2: Industry Implications - The issuance of commercial real estate REITs is expected to optimize resource allocation within the industry and support the development of a new real estate model [2] - This initiative will help the company broaden its financing channels, effectively revitalize existing assets, and enhance the quality and efficiency of asset operations [2]