Yuexiu REIT Maintains Overall Operation Balance, Achieving Earnings at Over RMB1 Billion

HONG KONG, Aug 15, 2024 – (ACN Newswire) – Yuexiu Staunch Estate Funding Have faith (“Yuexiu REIT”, along with Yuexiu REIT Asset Administration Restricted, collectively is known as the “REIT”; inventory code: 0405) has announced its intervening time outcomes for the six months ended 30 June 2024.

2024 Duration in-between Outcomes Highlights:
– Overall operation used to be stable, with total income of RMB 1,034 million (corresponding duration of 2023: RMB1,061 million).
– Distribution of approximately RMB0.0371 per unit, equal to approximately HK$0.0405 for the duration. This represents an annualized distribution yield of 8.52%.
– As at 30 June 2024, the final occupancy payment of the properties used to be 84.0%, unchanged from the earlier corresponding duration.

Guangzhou International Finance Heart (GZIFC):
– Working income of the GZIFC advanced used to be RMB504 million, accounting for forty eight.8% of the REIT’s total income.
– Its workplace constructing efficiently renewed leases with a chain of key tenants, with a renewal payment of 88.2%.
– GZIFC Attempting Mall recorded a twelve months-on-twelve months amplify of 5% in customer flow along with the circulation.
– Four Seasons Hotel noticed a major amplify in the proportion of world clients, and Ascott Serviced Apartments’ overall working income reached a list excessive.

Yuexiu Monetary Tower:
– Yuexiu Monetary Tower recorded working income of approximately RMB182 million, representing 17.6% of the REIT’s total income. The occupancy payment used to be 82.9%.
– Within the first half of of the twelve months, it efficiently secured the lease renewals of key quality tenants. The renovated vacant objects recorded a excessive sell-thru payment of 86%. The tenant construction persisted to toughen.

Active management of financing risks and effective bargain of financing prices
– With regard to the loans maturing in the middle of the twelve months, the Supervisor planned upfront and introduced an offshore revolving loan of RMB530 million with a fixed hobby payment of three.70% in February after which an offshore loan of HK$1.12 billion from home banks in Can also to refinance the maturing financing in the middle of the twelve months in uncover to present particular effective preserve an eye fixed on of liquidity threat.
– Taking profit of the spread window of the RMB financing trace, the Supervisor has changed the present offshore foreign currencies financing with RMB loans. As of the quit of June 2024, a total of RMB7.38 billion of financing has been introduced and earlier college to substitute Hong Kong greenback financing. The frequent financing trace used to be 4.55%, representing a twelve months-on-twelve months decrease of 35 foundation factors.
– The Supervisor persisted to further minimize the switch payment exposure by adjusting the financing construction and extending the proportion of low-trace RMB financing the assign appropriate. As at the quit of June 2024, Yuexiu REIT had RMB financing of approximately RMB8,404 million, accounting for 41% of total financing.

Mr. LIN Deliang, Chairman, Chief Govt Officer and Govt Director of Yuexiu REIT, acknowledged, “Within the first half of of this twelve months, home economic boost used to be mainly pushed by the present aspect, while overall effective inquire used to be insufficient and social expectations remained long-established. Nonetheless, with a spotlight on three core industry sectors, specifically, workplace structures, retail, and hotels and serviced apartments, the Supervisor tapped into calls for to obtain opportunities in gentle of market trends, completed analyses in relevant challenges and difficulties encountered in several industry sectors to determine resolutions and explore breakthroughs, and completed effective leasing options and operational measures to navigate thru the aggressive market prerequisites, gearing up all efforts to realize enough outcomes for Unitholders.”

Guangzhou International Finance Heart (GZIFC)
Within the first half of of the twelve months, GZIFC withstood the downward stress in the workplace market and efficiently renewed leases with a chain of key tenants such because the British Consulate, Zurich Classic Insurance protection, Youngy Neighborhood and the CBD Administrative Committee, reaching a renewal payment of 88.2% and successfully securing excessive-quality customer sources. It persisted to optimize the tenant construction by introducing a chain of properly-known enterprises, collectively with Celue Legislation Agency, Shengang Securities and CPEP, and also further expanded the lease of an present tenant, Guan Ling Legislation Agency, with an additional plight of 1,071 sq.m. In uncover to plan quality clients requiring gigantic spaces, GZIFC has proactively promoted the integration of objects and improved the leasing efficiency of excessive-upward thrust floor. Currently, there is a paunchy-ground unit with a total plight of approximately 10,000 sq.m. for which industry negotiations with doable buyers are underway.

GZIFC Attempting Mall actively adjusted its industry categories, took the initiative to steal away tenants with low effectiveness in producing the predicted market lease, and optimized its enviornment of abilities catering mix. Within the first half of of the twelve months, it introduced the first novelty bakery mark “INCUBATOR” in Zhujiang New Town, the first straight operated “Subway” flagship retailer in Guangzhou, the excessive-quit espresso mark chain “M Stand”, and the stylish snack retailer “CURIOUS SNACKS”, continually enhancing the variety and recognition of manufacturers in the buying mall. In phrases of promotion, GZIFC Attempting Mall organized a marketing campaign of “Cantonese Song Competition & Liquor Bazaar & Dancing Event to have an even time its eighth anniversary, while increasing its promotional have an effect on and protection. The buying mall recorded a twelve months-on-twelve months amplify of 5% in customer flow along with the circulation in the first half of of the twelve months.

Four Seasons Hotel maintained its leading assign in the native luxurious market, and used to be awarded the “Forbes Shuttle Data Five-large title Hotel” for the ninth consecutive twelve months. Within the first half of of the twelve months, the average occupancy payment used to be Seventy 9.0%, and the proportion of world clients elevated critically, successfully filling the gap of the decline in home market inquire. The frequent room payment used to be RMB2,214, an amplify of 0.5% twelve months-on-twelve months. Ascott Serviced Apartments leveraged the aggressive profit of the differentiated manufactured from its gigantic-sized apartments in the temporary rental market and completed a major leap forward with a list excessive overall working income. The frequent occupancy payment in the first half of of the twelve months used to be 90.5%, an amplify of 0.2 percentage point twelve months-on-twelve months; the average room payment used to be RMB1,134, an amplify of three.0% twelve months-on-twelve months. With a excessive aggressive RevPAR index of 146.3, the apartments maintained a leading assign in the aggressive market and remained a high player among its pals.

Yuexiu Monetary Tower
Within the first half of of the twelve months, Yuexiu Monetary Tower concluded lease renewal contracts for a total of 7,454 sq.m. and efficiently secured the lease renewals of key quality tenants similar to Everbright Securities, Guoyuan Securities, SHZQ Futures and Minmetals Land. Additionally, it efficiently retained three clients who did not renew their leases upon expiration by offering different alternate options similar to relocation to one other ground and bargain of the leased plight. The renovated vacant objects recorded a excessive sell-thru payment of 86%, with the successful introduction of a major law company mark “Digtech Legislation Agency” and two properly-known top payment monetary establishments, marking a continuous enchancment in the tenant construction.

White Horse Building
White Horse Building, benchmarked in opposition to excessive-quality manufacturers in the aggressive market, stepped up its efforts in customer engagement and retention, with a spotlight on fixing the operation and optimization disorders of floor and objects at threat of emptiness. Driven by the twin driver of tenant acquisition and stabilization, the average occupancy payment maintained at a excessive level of 95.7% in the first half of of the twelve months. Within the first half of of the twelve months, White Horse Building innovated its marketing approach, persisted to collaborate with authorities and alternate sources, and completed a chain of initiatives to amplify its mark have an effect on. By taking part in CHIC Shanghai and organizing the Infinite Have faith 2024 Autumn/Frosty weather Advise Gorgeous, the White Horse mark has expanded its protection at dwelling and out of the country.

Fortune Plaza and Metropolis Type Plaza
Fortune Plaza further optimized its tenant construction by efficiently introducing C&S Paper, an alternate-leading firm, and “Ke Jun”, a Hong Kong-fashion restaurant, to seamlessly dangle a street-going thru store on the first ground. Metropolis Type Plaza efficiently introduced a authorities-owned sports actions provider company and leased approximately 2,500 sq.m. of vacant plight, which resulted in a twelve months-on-twelve months amplify of 5.8 percentage factors in occupancy payment. As well, leases with key clients similar to Konica Minolta and WUYIGE Licensed Public Accountants had been efficiently renewed, contributing to a somewhat excessive renewal payment of 87.9% in the first half of of the twelve months.

Victory Plaza
Victory Plaza made a leap forward in signing a lease for a explicit unit that required better efforts in attracting industry, efficiently introduced a financially sound magnificence mark, and recorded 1,033 sq.m. of original leases in the first half of of the twelve months. The management team actively sought exterior sources for Victoria Plaza to facilitate original product launches and promotional preparations of its major tenants, which helped boost the industry performance of Uniqlo. Per vacation consumption patterns in the first half of of the twelve months, the team used to be ready to stimulate in-retailer consumption, leading to a twelve months-on-twelve months amplify of 14% in customer flow along with the circulation in the first half of of the twelve months.

Shanghai Yue Xiu Tower
Within the first half of of the twelve months, it recorded 3,400 sq.m. of newly shriveled plight, efficiently introduced properly-known firms collectively with Chang’an Ford and Taiping Insurance protection, and renewed leases with excessive-quality clients collectively with Salvage entry to World and Sulzer. In look of the insufficient effective leasing inquire and low sequence of vacation makers in the Zhuyuan plight, Shanghai Yue Xiu Tower proactively expanded its tenant acquisition channels and optimized and improved its merchandise by selecting key objects for high payment furnishing and refurbishing undecorated objects, thereby increasing the sequence of vacation makers and adorning the signing payment.

Wuhan Properties
Within the first half of of the twelve months, the project recorded 17,000 sq.m. of newly shriveled plight and efficiently renewed leases with excessive-quality clients collectively with Luzhou Laojiao, AVIVA-COFCO and Guangdong Guangxin. Faced with varied not easy prerequisites in the Wuhan market with a low procure absorption payment and excessive emptiness payment, Yuexiu Fortune Centre reviewed its leasing policies and pricing options in a properly timed formulation, adjusted the commission policy and actively expanded industry acquisition channels, focusing on identifying excessive-quality clients in the an identical plight and attracting more guests thru the channels of the 5 major banks, while also strengthening threat preserve an eye fixed on.

Starry Victoria Attempting Centre persisted to optimize varied industry codecs for its portfolios. Within the first half of of the twelve months, it efficiently signed contracts with manufacturers collectively with Xiaomi, Yinxingkong (隱星空) and New Oriental, leading to a smarter proportion of practising/education and retail plight. By continually optimizing different industry codecs for its portfolios, it has revitalized the final retail atmosphere. The buying mall recorded a twelve months-on-twelve months amplify of 37.6% in customer flow along with the circulation and a twelve months-on-twelve months amplify of 16.2% in sales in the first half of of the twelve months.

Hangzhou Victory
Hangzhou Victory successfully resolved the threat connected to the termination of gigantic-plight leases, as it succeeded in attracting tenants to signal original contracts masking two complete floor in the first half of of the twelve months, with effective rents 20% and 12% better than the earlier contracts, respectively. In phrases of lease renewal management, it efficiently renewed leases with present excessive-quality clients collectively with Shanxi Avenue & Bridge, Bank of China and Yiqiwan, making sure the stable operation of the present excessive-quality clients.

Potentialities
Within the 2nd half of of 2024, the Supervisor is anticipated to make investments better than RMB38 million to actively promote asset appreciation initiatives in uncover to realize trace preservation and appreciation of properties. When it comes to financing, the Supervisor will steal a chain of liquidity management measures to preserve watch over the annual hobby payment at an inexpensive level and show screen the foreign switch threat. In gentle of the hobby payment continuing to live excessive, the refinancing approach will proceed to heart of attention on replacing foreign currencies financing with low-trace home RMB financing. The Supervisor will even assign a prudent monetary policy to present particular that it could perchance perchance perchance perchance perchance meet the operational wants and the distributions of Yuexiu REIT.

– Pause –

About Yuexiu Staunch Estate Funding Have faith
Yuexiu Staunch Estate Funding Have faith (“Yuexiu REIT”) used to be listed on the Hong Kong Stock Trade of Hong Kong Restricted on 21 December 2005 and is the first listed accurate property investment believe handiest investing in properties in the Folks’s Republic of China (the “PRC”) in the sphere. The present property portfolio comprises ten high of the range properties, specifically Guangzhou International Finance Heart, White Horse Building, Fortune Plaza, Metropolis Type Plaza, Victory Plaza, Yuexiu Monetary Tower in Guangzhou, Yuexiu Tower in Shanghai, Wuhan Properties in Wuhan (collectively with Wuhan Yuexiu Fortune Centre and Starry Victoria Attempting Centre), Victory Trade Centre in Hangzhou and Yuexiu Building in Hong Kong, with a total plight of possession of approximately 1.184 million sq.m. All properties are positioned in the central industry district of Guangzhou, Shanghai, Wuhan, Hangzhou and Hong Kong respectively. The categories of the properties consist of Grade-A offices, industrial complexes, retail industry, hotel, serviced apartments and knowledgeable clothing market etc.

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Matter: Press originate summary

Source: Yuexiu Staunch Estate Funding Have faith

Sectors: Staunch Estate & REIT

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