Core Viewpoint - Maoye International (00848) is initiating a public offering of commercial real estate REITs through its wholly-owned subsidiary Chengshang Group Holdings Limited and its affiliate Chengdu Chongde Investment Co., Ltd, utilizing certain buildings in Chengdu as underlying assets [1] Group 1: REITs Issuance - Maoye Commercial (600828.SH) plans to issue public commercial real estate REITs, subject to regulatory approval, using properties located at No. 28 Tianfu Avenue North, Chengdu as the underlying assets [1] - The company and its affiliate intend to jointly invest in the REITs, subscribing to 34% of the total fund issuance amount, pending final subscription figures [1] Group 2: Financial Implications - The issuance of commercial real estate REITs is expected to effectively activate existing assets, leveraging financial innovation to attract social capital for new project investments [1] - This financing tool is designed to uncover the intrinsic value of mature commercial properties, optimize Maoye Commercial's capital structure, improve its financial condition, and reduce financial leverage [1]