自从负责运营的保障性租赁住房项目不动产投资信托基金（下称"保租房REIT"）上市后，吴波的工作 就变得格外忙碌。 吴波是一家华东地区保租房社区运营管理机构负责人，今年起，他几乎每周都要抽出不少时间来接待不 同类型金融机构的投资考察。这些机构包括保险、私募基金、券商资管与银行理财子公司等。 起初，这些机构考察的重点是，保租房REITs的发行主体是否实力强劲、预期年化分红率是否足够高、 项目现金流状况是否良好。后来他发现，自己与金融机构讨论最多的是，保租房REITs的抗周期属性与 较高分红率。 因此，只要保租房REITs年化分红率超过4%且分红率保持稳定，这些金融机构就认为它符合投资项目内 部上会要求，会积极推动将保租房REITs纳入资产多元配置范畴。若保租房REITs运营方拥有将保租房 社区"变废为宝"，令ROE（净资产收益率）由低转高的丰富经验，更是投资"加分项"。 负责城投宽庭REIT运营的上海城投置业经营管理有限公司常务副总经理吴弢告诉记者，在效益表现方 面，城投宽庭2024年租金收入规模突破5亿元，较2021年实现近10倍的增长。 记者多方了解到，保租房REITs的抗周期属性与较高分红率，令其成为新的" ...

Core Viewpoint - Shanghai Urban Investment Holding Co., Ltd. is preparing for its 2024 annual general meeting, focusing on routine related party transactions and financial performance, while emphasizing governance and operational efficiency [1][2][3] Group 1: Company Overview - The company achieved an operating income of 9.432 billion yuan and a net profit attributable to shareholders of 243 million yuan in 2024, with total assets reaching 84.669 billion yuan and net assets of 20.902 billion yuan [2][19] - The company received several accolades, including "Top 50 Comprehensive Strength of Real Estate Development Enterprises" and "Top 30 State-owned Real Estate Development Enterprises" in 2024, enhancing its industry influence [2] Group 2: Business Operations - The company has ongoing construction projects totaling approximately 950,000 square meters, with new construction of about 100,000 square meters and completion of around 240,000 square meters in 2024 [3] - The company actively participates in urban renewal and housing security projects, acquiring land reserves of 75,000 square meters through market channels [3] Group 3: Financial Performance - The total assets increased by 8.62% year-on-year, while total liabilities rose by 11.64%, indicating a growing financial footprint [19] - The net profit attributable to shareholders decreased by 41.58% compared to the previous year, primarily due to reduced profits from real estate operations and investment income [19] Group 4: Related Party Transactions - The company estimated routine related party transactions for 2024 at 201.9 million yuan, with actual transactions amounting to 85.59 million yuan [20] - For 2025, the company anticipates routine related party transactions of 166.91 million yuan, reflecting expected business growth [21] Group 5: Governance and Future Plans - The board of directors emphasizes high-quality governance and management efficiency, focusing on strategic decision-making and compliance with regulatory requirements [6][10] - The company plans to enhance its market position by maintaining stable development in its core business areas and exploring new project opportunities [11][13]