Core Viewpoint - Northern Trust has successfully implemented the "Revitalization. Tianchen No. 1" real estate service trust, addressing the challenges of integrating scattered real estate resources held by state-owned enterprises, thereby enhancing the overall operational efficiency of state assets [1][2]. Group 1: Project Overview - The project is commissioned by Tianjin Chenkai New Energy Property Management Co., Ltd., a wholly-owned subsidiary of the North Bin Development Zone Management Committee, which holds multiple commercial real estate properties across different administrative districts in Tianjin [1]. - The trust structure allows for the phased delivery of trust assets, focusing on the dual advantages of the trust system, including risk isolation and professional management [2]. Group 2: Benefits and Innovations - The trust structure creates a robust risk firewall by legally isolating the trust assets from the client's other assets, mitigating potential asset risks due to operational or external changes [2]. - Northern Trust has established a unified asset management platform, enhancing the overall revenue capability of the asset portfolio through professional management and lifecycle management [2]. Group 3: Future Implications - The successful implementation of this model serves as a replicable and scalable framework for managing similar scattered assets, enhancing the company's capabilities in asset service trusts [3]. - This model exemplifies the practical path for trust services to contribute to the "Three Quantities" work, transforming static, scattered assets into efficient, liquid development increments, thus injecting new financial vitality into the construction of a modern socialist metropolis in Tianjin [3].