On September 14, the “Huaxia Heda High-tech Industrial Park Closed-end Infrastructure Securities Investment Fund” of enterprises in Qiantang Block of Hangzhou Area of Zhejiang Pilot Free Trade Zone and Dagaoke as the original rights holders was officially accepted by the CSRC and the Stock Exchange. The infrastructure type of the project is industrial park, and the assets include biomedical professional park, which won the first place in the competition for public offering REITs in the national biomedical industrial park, becoming the first project officially declared to the stock exchange, and will become “the first public public offering REITs for infrastructure in biomedical industrial parks in Zhejiang Province”.
At the beginning of 2021, Heda Hi-Tech launched the preparatory work for public REITs and established a working group for public REITs. In August 2021, Heda Hi-Tech issued a tender announcement to officially launch the preparation and issuance of infrastructure public REITs, and the Heda Hi-Tech public offering REIT project was approved as the first batch of best institutional innovation cases in Zhejiang Pilot Free Trade Zone in 2022. On September 14, 2022, the project was officially submitted to the CSRC and the exchange for review, and the registered fund can be listed and offered after the exchange issues a no-objection letter and the CSRC approves.
The first target assets of Heda High-tech public REITs are Heda Pharmaceutical Valley Phase 1 and Incubator projects, with a total construction area of 134,000 square meters and a construction area of 84,000 square meters in the pool, covering an area of 44,000 square meters, which was completed and put into use in 2017, focusing on the introduction of scientific and technological innovation enterprises such as pharmaceutical research and development, biopharmaceuticals, diagnostic testing, medical devices and medical engineering, with an average occupancy rate of 95%; The incubator project covers an area of 35,000 square meters, with a total construction area of 124,000 square meters, the project was completed and put into operation in 2007, the park gathers a large number of science and technology enterprises in the fields of biomedicine, software, new materials, energy conservation and environmental protection, Internet and other technologies, with an average occupancy rate of more than 90%.
As of June 2022, the total asset scale of Heda Hi-Tech is about 5.4 billion yuan, with a total operation of 26 various industrial park projects with an operating scale of more than 1.85 million square meters, of which biomedical industrial parks account for the largest proportion of the area, accounting for half of the existing operating volume. At present, there are 8 industrial park projects under construction, with a scale of more than 1.5 million square meters, a reserve industrial park project land area of more than 1,000 mu, and a construction area of more than 1.5 million square meters, which has become one of the largest industrial park operators in Zhejiang Province.
The pilot of infrastructure REITs can not only effectively revitalize existing assets, broaden corporate financing channels, and improve asset operation efficiency, but also continuously expand the scale of REITs through expansion in the later stage, forming a virtuous cycle of sustainable and replicable infrastructure asset construction, operation and listing. The province’s landmark strategic reform and opening up platform, Hangzhou Bay digital economy and high-end manufacturing integration innovation development leading zone.
(Provided by Hangzhou Municipal Bureau of Commerce)