Group 1 - The company announced the approval of a proposal to issue a closed-end commercial real estate investment fund (public REITs) based on assets including the Songjiazhuang Fumao project [1] - The company plans to include three projects, such as Huqiao Village Commercial Street, as underlying assets for the fund application, which will be sold by a public fund manager upon approval [1] - The company or its affiliates will participate in a strategic placement, committing to subscribe for no less than 20% of the fund's issuance [1] Group 2 - The board of directors has authorized the general manager's office to handle matters related to the application and issuance, with an authorization period of 24 months [1] - Issuing REITs is expected to help the company activate assets and broaden financing channels, although the application process carries uncertainties and may face market, operational, and valuation fluctuations [1]