According to the second quarter report of JIANXIN-CCB ZGC Industrial Park REIT (“ZGC REIT”), disclosed on July 20, ZGC REIT made a net profit of 24.864,400 yuan in the second quarter of 2022, up 22.6% from the previous quarter.

In the first half of the year, ZGC REIT accumulated revenues of about 120 million yuan，having completed 53.92% of the target set for 2022 in Prospectus for Recruitment. After removing the cost and expense, the distributable income is around 78 million yuan, which has achieved 62.39% of the expected target of 2022.

According to statistics, ZGC REIT has attained the highest semi-annual target achievement rate, in comparison with the disclosed information of REITs from other three industrial parks, i.e. Shenzhen Boshi Investment Attraction Shekou Industrial Park, Suzhou Soochow Suyuan Industrial Park and Shanghai Hua’an Zhangjiang Everbright Industrial Park.

On the basis of achieving the profit target well, ZGC REIT is also actively helping the development of the real economy, with intent to reduce rent for eligible tenants by 22.888 million yuan. The rent reduction is not expected to have an impact on the Group and other fund share holders.