On July 2, Huaxia TBEA New Energy REIT, the first private enterprise new energy public REIT in Xinjiang and the first in China, was officially listed and traded on the Shanghai Stock Exchange. As the 38th listed public REITs and the 5th listed energy infrastructure project in the whole market, the successful listing of Huaxia TBEA New Energy REIT not only brings new investment tools to investors and further enriches the supply of public REITs products, but also epitome of the normalized issuance, quality improvement and expansion acceleration of the public REITs market, and is also a vivid practice of public REITs serving the real economy and promoting the high-quality development of infrastructure.
ChinaAMC TBEA New Energy REIT is a new energy public REITs project jointly created by ChinaAMC as the fund manager, CITIC Securities as the plan manager and financial advisor, and TBEA, the world's leading green and smart energy service provider. The underlying asset of the fund, the Hami photovoltaic power generation project, has been in continuous operation for more than 7 years, with an installed capacity of 150MW, and is a high-quality clean energy project in Xinjiang and even the whole country.
The issuance and listing of Huaxia TBEA New Energy REIT not only achieved a breakthrough of zero public REITs in Xinjiang, but also marked the first private enterprise in China to officially enter the new energy public REITs capital market, which is an important milestone. The successful operation of the project has not only made an important contribution to the clean energy transformation and green development of Xinjiang, but also contributed to the realization of the goals of carbon peak and carbon neutrality in the mainland.
With the high attractiveness of high-quality assets and the brand empowerment of sponsors and management institutions, Huaxia TBEA New Energy REIT has attracted much attention from funds in the issuance stage.
The effective subscription multiple of the fund's offline offering was 67.8 times, setting a new high for the offline inquiry multiple of public REITs during the year, and the effective subscription multiple of public investors was 448.5 times, setting a new record for the public offering and placement ratio of public REITs.
Shanghai Stock Exchange site, 2024.07.02
Huang Hanjie, President of TBEA Co., Ltd. and Chairman of TBEA Xinjiang New Energy Co., Ltd., said that since its establishment, TBEA has always adhered to scientific and technological innovation as the driving force, green development as its own responsibility, and continuously promoted energy transformation and technological innovation. In the field of new energy, through technology research and development and industrial upgrading, a complete industrial chain has been gradually formed, covering solar energy, wind energy, energy storage and other fields. TBEA New Energy Co., Ltd. has business in more than 20 countries and regions around the world, providing overall solutions for clean energy project development, investment (financing), design, construction, intelligent equipment, commissioning, operation and maintenance, and occupies a global leading position in photovoltaic, wind power EPC, inverter and other fields. The issuance of public REITs is in line with the company's long-term strategic plan, aiming to build an asset listing platform in the field of new energy power generation, accelerate the recovery of precipitated funds of stock assets through raising funds in the open market, drive increment with stock, realize a virtuous cycle of "investment, financing, management and withdrawal", and effectively promote the incremental development of new energy power generation projects in TBEA. In the future, the company plans to incorporate new energy power generation projects in line with relevant policies into the new energy REIT platform of Huaxia TBEA through expansion, expand the scale of new energy power generation assets invested and managed by the fund, and smooth the income distribution of this REITs through multiple assets, so as to bring stable returns to the market and investors.
Shanghai Stock Exchange site, 2024.07.02
Li Yimei, general manager of China Asset Management, said that the global energy landscape is being reshaped, coupled with the background of carbon neutrality in the mainland, the development of clean energy industries such as photovoltaic industry has ushered in historic opportunities. CITIC Securities and China Asset Management, as leading state-owned securities companies and fund management companies, will actively respond to the call of the CPC Central Committee and the State Council for "carbon peak and carbon neutrality", make good use of the financial tool of public REITs, and contribute professional strength in the implementation of inclusive finance, serving the real economy, and promoting high-quality infrastructure development. In the future, China AMC will cooperate with the original equity holders to do a good job in the management of the duration of the fund, earnestly fulfill the active management and information disclosure responsibilities of the fund manager, and fully safeguard the interests of investors.
The successful listing of Huaxia TBEA New Energy REIT coincided with the third anniversary of the listing of the first batch of public REITs, and its successful listing is not only the epitome of the healthy and stable development of the mainland public REITs market, but also carries the expectation that the public REITs in mainland China will continue to develop vigorously and with high quality. With the third anniversary as a new starting point, China's public REITs are opening a new blueprint.
Risk Warning: 1. Public REITs have different risk-return characteristics from public funds investing in stocks or bonds, and their expected risks and returns are higher than those of bond funds and money market funds, and lower than those of equity funds. 2. Public REITs are infrastructure funds, most of the assets are invested in infrastructure projects, with equity attributes, affected by the economic environment, operation and management and other factors, the market value and cash flow of infrastructure projects may change, which may cause the price of the fund to fluctuate, and even there is a risk that the infrastructure project will suffer from extreme events (such as earthquakes, typhoons, etc.) and affect the price of the fund. 3. Public REITs investing in fixed income assets outside of infrastructure may be exposed to credit risk, interest rate risk, yield curve risk, interest rate spread risk, supply and demand risk and purchasing power risk. 4. Public REITs adopt closed operation, do not open subscription and redemption, and can only be traded in the secondary market, which has the risk of insufficient liquidity. 5. The Fund has other risks related to public funds and infrastructure projects, please refer to the prospectus and other legal documents for details. 6. The fund management company does not guarantee that the fund will be profitable, nor does it guarantee the minimum return. 7. Before investing in the fund, investors should carefully read the fund's "Fund Contract", "Prospectus" and "Product Key Facts Statement" and other fund legal documents, fully understand the risk-return characteristics and product characteristics of the fund, carefully consider the various risk factors existing in the fund, and fully consider their own risk tolerance according to their own investment objectives, investment period, investment experience, asset status and other factors, and make rational judgments and prudent investment decisions on the basis of understanding the product situation and sales suitability opinions. Bear the investment risk independently. 8. This material is not used as any legal document, and all the information or opinions expressed in the material do not constitute the final operation advice of investment, law, accounting or taxation, and our company does not make any guarantee for the final operation advice on the content of the material. Under no circumstances shall the Company be liable to any person for any loss arising from the use of any content in this material. The mainland fund has been in operation for a relatively short period of time and does not reflect all stages of the development of the stock market. The market is risky, and you need to be cautious when entering the market.