China Merchants Commercial REIT Fund (01503.HK) announced the interim performance for the six months ended June 30, 2024. Due to a significant annual increase of 9.7% in rental income to 0.2384 billion RMB (the same below), China Merchants Commercial REIT Fund's total income during the reporting period was 0.2663 billion RMB, an increase of 11.9% compared to the same period in 2023. Including the cash payments received based on the distribution commitment per fund unit, the interim distribution per fund unit for the reporting period is 0.06 Hong Kong dollars (equivalent to 0.055 RMB), an increase of 26%. Calculated based on the closing price of the fund units on June 28, 2023, which was 1.09 Hong Kong dollars, the distribution yield calculated on an annual basis is 11%.

As of June 30, 2024, the net asset value per fund unit held by the unit holders of the fund is 3.201 billion RMB, or 2.84 Hong Kong dollars per fund unit, equivalent to 3.11 Hong Kong dollars per fund unit calculated based on the exchange rate mid-price announced by the People's Bank of China on June 28, 2024. The closing price of the fund units on June 28, 2024, which was 1.09 Hong Kong dollars, discounted the net asset value per fund unit by 65%.

During the period, the overall occupancy rate of the property portfolio increased from 86.8% to 92.7%, a rise of 5.9 percentage points compared to December 31, 2023. The main reason is that after the upgrade and renovation of the Garden City, new tenants including block orders stores have occupied large areas, increasing the occupancy rate by 11.3 percentage points. The average occupancy rate of the office buildings has steadily increased to 94.7% through the strategy of "price for volume", with an increase of 4.7 percentage points.