CHINA OVERSEAS (00688) announced that the Huaxia China Overseas Commercial Asset Closed-End Infrastructure Securities Investment Fund (REIT, referred to as the public fund in the announcement) has been listed on the Shenzhen Stock Exchange starting October 31, 2025, with the trading code 180607.SZ. The REIT issued 300 million fund units at a final offering price of RMB 5.281 per unit. Based on the final offering price, the total proceeds from the listing are approximately RMB 1.5843 billion.

China Overseas Huanyu Commercial (an indirect wholly-owned subsidiary of the company) subscribed to 60 million units as a strategic investor, accounting for 20% of the total issued fund units. Following the completion of the proposed spin-off, the project company will no longer be a subsidiary of CHINA OVERSEAS, and its financial statements will no longer be consolidated into the company's accounts.

The establishment and spin-off listing of the REIT provide the company with an alternative equity financing method, diversifying the group's financing channels and platforms. This move allows the company to monetize its infrastructure assets, mitigating the adverse effects of long recovery periods and low asset turnover in infrastructure investments. It also enhances the company's rolling investment capability and sustainable operations, benefiting its long-term performance.