Huaxia Fund Management recently announced that the Huaxia CNOOC Commercial REIT (Fund Code: 180607) will officially launch its public offering from October 13 to October 14, 2025, with an offering price of 5.281 yuan per unit and a targeted fundraising amount of 1.5843 billion yuan. The public offering portion comprises 27 million units. Public investors can subscribe at the offering price through on-exchange securities institutions or the fund manager and its authorized off-exchange distribution agencies, with a minimum subscription amount of 1,000 yuan (including subscription fees).

The underlying asset of Huaxia CNOOC Commercial REIT is the Foshan Yingyuehu Huanyu City, a flagship self-owned property under CNOOC that is in mature operational stage. The project is strategically located in the Guangzhou-Foshan metropolitan core of the Guangdong-Hong Kong-Macao Greater Bay Area, specifically in the pilot zone of the national-level reform platform "Guangzhou-Foshan High-Quality Development Integration Pilot Zone" (Yingyuehu District). With significant locational advantages, it serves as a major regional shopping center that combines excellent transportation accessibility with market scarcity. Benefiting from the attractiveness of this high-quality underlying asset, during the offline inquiry phase, Huaxia CNOOC Commercial REIT received inquiry and bidding information from 1,014 placement targets managed by 149 offline investors, with a total intended subscription volume of 23.6074 billion units, representing 374.72 times the initial offline offering volume (630 million units), setting a new market record and demonstrating professional investors' recognition of the project's investment value.

Huaxia CNOOC Commercial REIT has attracted significant market attention not only due to its high-quality underlying assets but also thanks to the empowerment of its professional management team. Fund sponsor CNOOC possesses 46 years of real estate development and property operation management experience, with industry-leading integrated capabilities across the entire value chain including design, development, construction, operation, and property services, establishing itself as an excellent international real estate development and operation group. Fund plan manager CITIC Securities and fund manager Huaxia Fund Management have extensive experience in consumer REITs investment management. This strong alliance provides robust support for the stable operation and sustained growth of Huaxia CNOOC Commercial REIT after its establishment. Additionally, CNOOC's shopping center portfolio currently holds multiple high-quality commercial assets, and these assets demonstrate strong synergy with Yingyuehu Huanyu City in terms of location quality and operational models, providing abundant targets for future expansion of Huaxia CNOOC Commercial REIT.

In the first half of 2025, consumer REITs' secondary market performance not only outpaced the broader public REITs market but also outperformed mainstream asset classes such as stocks and bonds during the same period, attracting significant market attention. As one of the most important categories in mature REITs markets, consumer REITs are characterized by large asset scale and high marketization degree, effectively connecting consumption growth with capital returns. Against the backdrop of economic transformation and upgrading, consumption's position as the primary driver of economic growth has become increasingly prominent. Consumer REITs, which combine "the value preservation attributes of real estate" with "the liquidity advantages of securities," can provide investors with stable cash dividends and asset appreciation opportunities, becoming an important vehicle for investors to share in consumption upgrade dividends. The successful issuance of Huaxia CNOOC Commercial REIT not only provides investors with a new high-quality investment target but also offers the public REITs market a leading example of commercial asset securitization.