The first public offering of REITs was successfully completed, with additional shares being distributed to existing shareholders for expanded fundraising.

According to Securities Times, recently, China's public offering REITs market has seen an important innovative practice in its normalization expansion, with the Huaxia Fund and China Resources Hai Chao REITs expanding their shares officially listed for trading on the Shanghai Stock Exchange. The highlight of this expansion is that, for the first time in the market, it used the method of distributing new shares to the existing fund shareholders. This not only signifies an important breakthrough in the expansion mechanism of China's public offering REITs, but also, with its innovative institutional design and high market recognition, sets a benchmark for market-oriented expansion in the industry. According to the announcement, the Huaxia Fund and China Resources Hai Chao REITs raised over 1.1 billion yuan in funds in this expansion, which will be used to purchase the Hai Chao Maqiao affordable rental housing project in Minhang District, Shanghai. After the transaction is completed, the underlying assets of the fund will achieve a complete layout in the two core industrial clusters of Songjiang and Minhang in Shanghai.