CMC REIT Announces 2025 Interim Results

About this update from China Merchants Commercial Real Estate Investment Trust

[{"type":"text","content":"Demand in Core Areas Remains","length":28,"tagName":"p","attribs":{}},{"type":"text","content":"Garden City's Operations Continue to Improve","length":48,"tagName":"p","attribs":{}},{"type":"text","content":"HONG KONG, Aug. 22, 2025 /PRNewswire/ -- China Merchants Commercial Real Estate Investment Trust ("CMC REIT" or "the Trust", HKEX stock code:1503), announced its interim results for the six months ended 30 June 2025.","length":236,"tagName":"p"},{"type":"text","content":"During the period, the rental income was RMB195.7 million, a decrease of 17.9% when compared to last year. The revenue reached RMB225.0 million, which decreased 15.5% compared to last year. During the period, the distribution per Unit to Unitholders was HK$0.0558 (equivalent to RMB0.0509). Based on the closing unit price of HK$1.23 on 30 June 2025, this represents an annual distribution yield of 9.1%.","length":404,"tagName":"p"},{"type":"text","content":"As at 30 June 2025, net assets attributable to Unitholders amounted to RMB2,996 million or RMB2.66 per Unit, equivalent to HKD2.92 per Unit ("NAV per Unit") based on central parity rate as announced by the People's Bank on 30 June 2025. The closing unit price of HKD1.23 on 30 June 2025 represented a 57.9% discount to the NAV per Unit.","length":350,"tagName":"p"},{"type":"text","content":"Business PerformanceDuring the period, the aggregate occupancy rate of the entire property portfolio decreased from 90.6% to 84.5%, representing an overall decrease of 6.1 percentage points. Substantial lease terminations in Technology Building 2 and New Times Plaza caused our average occupancy rate for offices to decrease from 89.8% to 81.2%. The occupancy rate of Garden City Shopping Centre continued to rise, increasing by 4.7 percentage points to 98.2%.","length":461,"tagName":"p"},{"type":"text","content":"While office vacancy rates in Beijing have remained elevated due to persistent oversupply, Onward Science & Trade Center applied the strategy of prioritizing occupancy over rental rates to maintain high occupancy, successfully achieved a rebound in occupancy rates in the second quarter. As the oversupply situation in Shenzhen is more severe, our other Grade-A office, New Times Plaza has seen a decrease in both occupancy and rent rate. The occupancy rate at Garden City continu...

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