CSC Approves Registration for Alibaba-Backed Cainiao Logistics REIT Ahead of Shenzhen Listing

Stock News09-09 21:23

Alibaba's (09988) logistics-focused public REIT, the 'CICC Cainiao REIT,' has entered its final phase toward a Shenzhen Stock Exchange listing, with the China Securities Regulatory Commission (CSRC) granting registration approval following the exchange's earlier no-objection letter. The fund is managed by CICC Fund Management and custodied by Industrial Bank.

The original equity holder, its controlling shareholder, and the operating manager of this REIT are all wholly-owned domestic subsidiaries under Alibaba. Its underlying assets consist of the 'Smart Logistics Network Park' owned by Cainiao in Nanhu District, Jiaxing City, Zhejiang Province.

Located in the core area of the Shanghai-Hangzhou-Suzhou-Ningbo metropolitan circle, the underlying assets currently serve as the East China headquarters warehouse for Tmall Supermarket. The park supports nearly 200 external end-user brands across sectors including home appliances, new technology, beauty, drinking water, and beverages, among them multiple Fortune 500 electronics companies and leading consumer brands.

The Jiaxing park has been operational since July 2018, primarily handling supply chain and order fulfillment for Tmall Supermarket in East China. With a total building area of approximately 412,100 square meters and rentable space of about 403,400 square meters, it carries an estimated valuation of roughly 4,212 yuan per square meter. Currently leased entirely to Hangzhou Cainiao on a unified basis, the facility has maintained 100% occupancy and rent collection rates over the past three years.

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