On the morning of October 30, the CICC Cainiao Warehouse Logistics Closed-End Infrastructure Securities Investment Fund (referred to as "CICC Cainiao REIT") was listed on the Shenzhen Stock Exchange.
The CICC Cainiao REIT offered a total of 500 million fund units in its initial public offering, priced at 2.980 yuan per unit, raising a combined total of 1.49 billion yuan.
The fund's original equity holder is Hangzhou Chuanxin Internet of Things Technology Co., Ltd., the fund manager is CICC Fund Management Co., Ltd., and the plan manager and financial advisor is China International Capital Corporation Limited.
Alibaba (BABA) Group CFO Xu Hong stated that this project represents an important practice by Alibaba Group in enhancing asset operational efficiency and supporting the construction of modern logistics infrastructure. Alibaba Group will continue to support Cainiao in maintaining long-term, steady operations, contributing to the development of a modern logistics system and the smooth circulation of the domestic economy.
Cainiao Group CFO Zheng Haining stated that this public REIT offering is Cainiao's first public REIT. Through the REITs platform, Cainiao will better leverage the operational value of its existing assets, promote efficient alignment between logistics infrastructure and the capital market, and while revitalizing asset stock and expanding effective investment, continuously improve supply chain resource allocation efficiency and the ability to serve the real economy.
The underlying asset of the CICC Cainiao REIT is the China Smart Logistics Network Jiaxing Park. It is understood that the park has been in stable operation since 2018, adopting a whole-lease model that relies on Cainiao's supply chain and serves e-commerce businesses. It primarily functions as the East China headquarters warehouse for Tmall Supermarket, supporting regional coverage for fulfillment capabilities such as half-day and same-day delivery. The asset's operational performance has been stable, with occupancy rates and rent collection rates maintained at 100% over the past three years and the most recent period, demonstrating steady cash flow.
Comments