On December 28th, JiaShi JD Warehousing and Logistics REIT announced that Liu Qiangdong, founder and chairman of JD Group, as a concerted action person of the original equity holder of the fund, plans to increase his holdings by no more than 100 million yuan through the secondary market. Since the beginning of this year, REITs under multiple fund companies, including Huaxia Fund, Hua'an Fund, and CICC Fund, have announced that their original equity holders or concerted action parties have increased their holdings.
Maximum increase in holdings of 100 million yuan
On December 28th, Jiashi Fund released an announcement regarding Jiashi JD Warehousing Logistics REIT's plan for concerted action by original equity holders to increase their holdings of fund shares. The announcement stated that the fund manager Jiashi Fund received a notice from the original equity holder of the fund, Beijing JD Century Trading Co., Ltd., on December 27th regarding its concerted action plan to increase holdings.
The announcement shows that Mr. Liu Qiangdong and/or his concerted action persons, based on their confidence in the future development prospects and recognition of the long-term investment value of the JiaShi JD Warehousing Logistics REIT Fund and infrastructure projects, will increase their holdings of the fund through secondary market purchases or other methods recognized by the exchange from the date of the announcement (December 28), with an increase amount not exceeding 100 million yuan.
This increase in holdings plan does not set a price range. The increasing entity will implement this increase in holdings plan at an appropriate time within the next 24 months, based on the fluctuation of fund trading prices and the overall trend of the secondary market, in compliance with laws and regulations and the provisions of the Shanghai Stock Exchange.
The increasing entity also promises that the fund shares increased this time will not be reduced through bulk, agreement transfer or bidding transactions during the implementation period of this increase plan and within 6 months after the expiration of the increase plan. The reduction behavior will strictly comply with relevant rules and requirements.
According to public information, JiaShi JD Warehousing REIT was listed on the Shanghai Stock Exchange on February 8, 2023. It is the first privately-owned warehousing and logistics REIT in China. Its underlying assets include JD Group's construction project of JD Mall Asia No.1 Warehousing Central China Headquarters in Langfang and Wuhan, and three logistics parks in the first phase of JD Chongqing E-commerce Base Project (Transit Distribution Center) in Chongqing, with a total construction area of approximately 351000 square meters.
Increase holdings release positive signals
Jiashi JD Warehousing REIT has announced plans to increase its holdings more than once this year. On January 10th, the fund issued two announcements, stating that within 12 months from the date of the announcement, Jiashi Fund, as the increasing entity, will implement the increasing plan at an appropriate time, with an increasing amount not exceeding 10 million yuan; At the same time, the original equity holder Beijing JD Century Trading Co., Ltd. and/or its affiliates shall act as the increasing entity, with an increasing amount not exceeding 18 million yuan and an increasing number of fund shares not exceeding 5 million.
It is worth mentioning that the increase in holdings plan in January this year occurred after the sharp drop in the secondary market price of Jiashi JD Warehousing REIT. According to Choice data, as of January 10th, the price of this REIT has dropped by nearly 30% in the six trading days at the beginning of the year. The announcement shows that the purpose of increasing holdings of fund shares is to support the sustained, stable, and healthy development of the fund. Afterwards, its price quickly rebounded, with a 36.75% increase since January 11th as of March 5th.
Based on recent data, on December 27th, the secondary market price of Jiashi JD Warehousing REIT rose by 0.88% to 2.76 yuan, with a 7.43% increase in the past 20 trading days. However, there is still a nearly 12% decline since the beginning of the year.
The act of increasing holdings sends a positive signal to the market, "said a market analyst." This behavior further deepens the interest relationship between original equity holders or concerted action persons and investors, prompting them to operate and manage underlying assets more carefully, improve project operational efficiency, and create richer returns for investors; At the same time, it also reflects the recognition of the intrinsic value of the REITs product and the operational prospects of the underlying assets by the increasing holders, playing a role in enhancing investor confidence and helping the secondary market prices return to a rational range.
Multiple public REITs announced an increase in holdings within the year
Except for Jiashi JD Warehousing REIT, there have been occasional increases in holdings of public REITs by original equity holders or concerted action parties since the beginning of this year.
On August 16th, Hua'an Bailian Consumer REIT announced on its first day of listing that it had received a notice from the original equity holder, Shanghai Bailian Group Co., Ltd. (referred to as "Bailian Shares"), regarding the changes in the shares of its concerted action parties in the fund. The concerted action parties of Bailian Shares, Shanghai Commercial Investment (Group) Co., Ltd. and Hisense Futures Co., Ltd., jointly increased their holdings of 10.8449 million shares through bidding trading on the Shanghai Stock Exchange, accounting for 1.084% of the total issued shares of the fund.
On July 6th, Huaxia Hangzhou Heda High tech Industrial Park REIT announced that one of the original equity holders of the fund, Hangzhou Heda High tech Development Group Co., Ltd., will increase its holdings of the fund by no more than 10 million shares within 12 months from July 8th.
On June 28th, Guotai Junan Asset Management announced that it received a notice from the original equity holder on June 26th regarding its controlling related party's further increase in holdings plan. The cumulative increase in holdings will be executed according to the original increase plan. The previous increase in holdings was from November 7th, 2023, and will expire on June 30th, 2024, with a total of 7.712 million shares.
In addition, multiple public REITs such as CITIC Construction Investment, State Power Investment New Energy REIT, AVIC Jingneng Photovoltaic REIT, and CICC Xiamen Anju REIT have announced plans for original equity holders to increase their holdings this year.
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