On the afternoon of April 24th, Huaxia Jinmao Commercial REIT (fund code: 508017), one of the first consumer REITs, held the first quarter performance briefing of 2024.Ding Yan, Vice President of China Jinmao, General Manager of Jinmao Wine Merchants, Wang Jian, general manager of Changsha Jinmao Laocheng, Wang Jian, and Lu Lingzhuo and Tan Lin, manager of Huaxia Jinmao Commercial REIT FundThe performance of Huaxia Jinmao Commercial REIT and answered the questions concerned by investors.

Huaxia Jinmao Commercial REIT, as the first batch of public -funded REITs in the country’s consumer infrastructure, has received strong support from investors during the distribution and subscription stage.Since the establishment of the fund on January 31 this year, the underlying asset operation of the fund has been steadily operating and its performance has continued to grow.

Huaxia Jinmao Commercial REIT’s bottom -level first asset is Changsha Jinmao Laocheng City, which is the core location benchmark project under China’s Jinmao.Changsha Jinmao Laocheng is located in the core area of Meixi Lake, Xiangjiang New District, Changsha City. The location conditions are superior, the consumer group positioning is clear, and the customer base consumption potential is high.The project is adjacent to Changsha International Culture and Art Center, only 2 kilometers from Yuelu Mountain, and seamlessly connects with Metro Line 2.The historical performance of the project is dazzling, the tenant’s format is rich, and the potential for future growth is high.In the first quarter of 2024, with the performance of the core performance data such as EBITDA and the amount of allocation of distribution, the performance of the prediction values of the same period of the recruitment manual, Huaxia Jinmao Commercial REIT gave investors a satisfactory answer sheet.

The first transcript is dazzling

Core data exceeds expectations

The first quarter report showed that at the fund merger level, from January 31, 2024 (the fund contract effective date) to March 31, 2024, Huaxia Jinmao Commercial REIT realized total revenue of 14.621 million yuan and EBITDA 8.885 million yuan.The amount of distribution is 8.8728 million yuan. Compared with the recruitment instructions, the number of predictions of the same period is about 101.32%, and the simplicity and annual distribution rate according to the number of days during the report period is 4.98%.

At the operation level of the project company, from February 5, 2024 (equity delivery date) to March 31, 2024, the project company realized operating income of 14.0513 million yuan, EBITDA was 8.4329 million yuan, and EBITDA’s profit margin reached 60.02%.

Changsha Jinmao Laoshima Shopping Center opened at the end of 2016. It has been operating for more than 7 years. It has been stable for 7 years. Historical operating performance has performed steadily and continued to grow.Specifically, as of the end of the first quarter, the lease rate of Changsha Jinmao Laocheng was 98.26%, which was higher than 98.0%of the assessment forecast value.The lease structure is stable, and the average rent of the main stores and specialty stores has continued to increase.And compared to the rents of the evaluation date of the recruitment manual (that is, June 30, 2023), the rent of the main stores and specialty stores has achieved a growth of about 5%.

Professional operation system empowerment

Project operations continue to improve

The operating improvement of consumer infrastructure requires continuous adjustment strategies and refined operation management.Huaxia Jinmao Commercial REIT’s expectations of the first quarter report are inseparable from the close cooperation of the management team and the empowerment of the professional operating system.

Huaxia Jinmao Commercial REIT original rights person China Jinmao is a urban operating platform company under STIC. The capital market has rich experience in the capital market and obvious resources.The operating management agency Jinmao Commercial is a professional business operation and management platform under China Jinmao. It has rich business resource reserves and professional operation management capabilities. Commercial headquarters and territorial teams are integrated, and they are efficient and coordinated.In addition, the project adopts the operation cost of operating costs, which greatly slows down the risk of operating cost overrun and can further ensure the operating income of the project.

In the first quarter of this year, the transportation management team was multi -pronged to promote the improvement of project operations.In terms of investment promotion, the project continues to upgrade the brand portfolio around the positioning direction of the “Quality Family Art Happy Park”.It has introduced Changsha’s first “OFFEN FITNESS” women’s high -end fitness club, Changsha’s first non -heritage brand “Bing Brother Pea Noodle”, Meixi Lake’s first “Overlord Tea Hime” 3.0 image shop, “NB1906” and other trendy brands.Further improve the project brand level.

In terms of operation and promotion, the transportation management team promoted the conversion and repurchase through various SP and PR activities, and sales increased by 13.95%compared with the same period last year.At the same time, linkage brand resources, followed by various important nodes and combined with the star effects of Changsha City, created multiple marketing events, such as “catching a year -old collection”, theme concerts, star fans to support special session, etc.In the same period, an increase of 8.02%, and the amount of membership consumption increased by 28.64%over the same period last year.

In addition, the transportation management team has continuously strengthened the responsibility of refined operation and safety supervision, solidly promoted various safety management and facilities and equipment maintenance, ensuring the stable project operations, and winning consumer praise with service details.

The transport management team stated that in the future, through professional and market -oriented operations, focusing on core consumer groups and refined operations, using digital management tools, strengthening the quality of the project, and ensuring the stability and strong strength of operating efficiency;Doctrine, continue to carry out brand renewal, space iteration, and service upgrades, bringing consumers a better consumer experience, and helping investors, shopping malls, merchants, and consumers a win -win situation.

Consumer REITs has huge potential

Future expansion is expected

The first batch of consumer REITs, represented by Huaxia Jinmao Commercial REIT, helped the Chinese public offering REITs market to achieve smooth expansion and increase categories, and the types of assets and investment targets were further enriched.The current absolute scale and relative proportion of my country consumer REITs still have room for further improvement.Consumption REITs are conducive to the construction of more high -quality and efficient consumer infrastructure, improve the consumer environment, optimize consumer scenarios, and play a positive role in expanding domestic demand and boosting consumption. For enterprisesFrom investment to exit and reinvestment capital closed loop, the liquidity of assets and funds has greatly improved.

With financial innovation to serve the development of the real economy, China Jinmao continues to empower the development of urban consumption.The issuance of consumer REITs has opened a new path for China Jinmao’s high -quality commercial asset docking capital market.With the continuous expansion of Jinmao’s business landscape, in the future, China Jinmao will continue to install high -quality assets from the public offerings, expand effective investment with assets, accelerate the construction of consumer infrastructure, and promote the optimization of urban consumption conditions and the innovation of consumer scenes.

In the future, China Jinmao and Huaxia Fund will work together to further implement effective measures to improve the performance of the fund, enhance investor confidence, support the continuous, stable and healthy development of Huaxia Jinmao Commercial REITThe majority of investors.