Suning plans to transfer 11 of the company's stores assets to Citic Stone Fund management company

Abstract: South All cartography: Chen Suningyun again into people's view is not because of online shopping, but commercial real estate. 14th Evening released the latest announcement, Suning plans to transfer the company's 11 stores assets to Citic Stone Fund management company, set up South all cartography: Chen
Suningyun business again into the eyes of people is not because of "online shopping big promotion", but "commercial real estate". On the evening of 14th, the latest announcement shows that Suning plans to transfer the company's 11 stores assets to Citic Stone Fund management company, set up private investment fund, the value of not less than 4 billion yuan.

To put it simply, Su Ning, in cooperation with CITIC Securities, aims to launch a REITs (real estate Investment Fund) model product. Before long, the People's Bank of China and the CBRC had just issued a circular on further work on housing financial services, specifically referred to the REITs, demanding "actively and prudently carry out real estate investment Fund (REITS) pilot".

"Shop" is for "shop"

The so-called Real Estate Investment trust Fund (REITS), is a way of issuing income vouchers to bring together the majority of investors, by specialized investment institutions for real estate investment Management, and the fund product which distributes the investment comprehensive income proportionally to the investor, belongs to the asset securitization form.

"In accordance with this mode of asset operation, the company will sign a long-term lease in the implementation process to continue to operate the store at a stable rental price." In the follow-up business year, the company will pay the rent compared with the original depreciation, although there is a certain increase, but through effective cash management, as well as the company is promoting the Internet financial business, overall, the future of the operating efficiency of the year would not have a big impact. Yesterday, Suningyun to South reporters stressed that the Suningyun business and Citic Securities cooperation, the purpose is to innovate the asset operation model, activate the stock of assets, in order to obtain abundant funds on the basis of return, can again purchase quality stores, continue to consolidate offline stores, further highlight the O2O advantage.

In other words, Su Ning will transfer the company's 11 stores assets to Citic Stone Fund management company, is not to do "offline entity shop subtraction", but "the volume of large, diverse large-scale properties, with REITs way to become standardized products." "Guangzhou Gao Li International Project Advisory Department director Chen Hoo to South All reporter analysis, now commercial real estate enterprise biggest problem is cash flow pressure." Asset securitization is a relatively low risk and cost for enterprises, and will be more and more concerned by everyone.

Now, the market's attempts to REITs and class REITs have been gradually approved by the government. Recently, the central bank, the CBRC in the "on further good housing financial services work Notice" clearly pointed out, to "actively and prudently carry out real estate investment trust Fund (REITS) pilot."

individual store value-added rates as high as 515.29%

Suningyun published a bulletin that shows that the transfer of the 11 stores are owned by the Suningyun, the ownership is clear, stores distributed throughout the country, including Beijing Tongzhou century Lian Hua shop, Beijing Liu Home kiln shop, Changzhou South Avenue Shop, Wuhan Tanggu Pier Shop, Chongqing Guanyin Bridge Pedestrian Street shop, Chongqing Jiefang Stele Shop, Kunming small Garden Shop, Chengdu Chunxi Shop, Chengdu million Years shop, Chengdu West Street and Xian Road shop.

South Reporters further enquiries on the 11 properties of the assessment report found that all the above property assets of the total price of 1.99 billion yuan, depreciation of 290 million yuan, net assets of 1.696 billion yuan. However, as commercial housing prices have risen in recent years, the above property appraisal price has reached more than 4 billion. In these 11 properties, the highest value-added rate of up to 515.29%, the lowest also has 55.15%

This set of bright data can reflect the overall performance of high-quality, scarce commercial properties. From Zhongyuan Group to grasp the 8 domestic and foreign listed companies, the financial data disclosed by the Real Estate Trust (REITs) show that the commercial properties held by these companies and trusts include 40 shopping malls, located in 19 cities in China, where rents have remained steady since 2007, and the cumulative gains have doubled to 124%. According to a study by the National Gold Securities, the U.S. Real Estate Investment trust fund yield reached 21.43%.

However, "the main risk of securitization of commercial project assets comes from asset recovery, and the key is to ensure the profitability of assets." "Chen Hoo said. Under normal circumstances, REITs can not see the asset appreciation, but also to ensure a 5 net return.