CMC REIT Delivers Stable Revenue for 2025

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[{"type":"text","content":"Successful Acquisition of Hong Kong Student Accommodation; Optimization of Financing Structure Yields Results","length":109,"tagName":"p","attribs":{}},{"type":"text","content":"HONG KONG, March 17, 2026 /PRNewswire/ -- China Merchants Commercial Real Estate Investment Trust ("CMC REIT" or "the Trust", HKEX stock code: 1503) announced its annual results for the year ended 31 December 2025. The total revenue for the year amounted to RMB432 million.","length":293,"tagName":"p"},{"type":"text","content":"In 2025, the distributable income of CMC REIT was RMB96.3 million (2024: RMB116.7 million). Based on the distributable income, the final distribution per unit for 2025 is HK$0.0410. Together with the interim distribution of HK$0.0558 per unit already paid, the total distribution per unit to Unitholders for the year amounted to HK$0.0968 (equivalent to RMB0.0854).","length":365,"tagName":"p"},{"type":"text","content":"Steady Gearing Ratio and Expansion into Diversified Asset PortfolioDuring the year, the total bank borrowings of CMC REIT amounted to RMB4.11 billion, and the gearing ratio remained steady at 42.3%. This ratio is well below the 50% limit permitted under the REIT Code. Furthermore, the Manager proactively implemented cost reduction and efficiency enhancement measures, resulting in significant decreases of 13.8% and 11.3% in property operating expenses and finance costs, respectively. As of 31 December 2025, the ratio of total liabilities (excluding net assets attributable to Unitholders) to total assets of CMC REIT was 55.9% (2024: 54.8%). Net assets attributable to Unitholders amounted to RMB2,899 million (2024: RMB3,096 million), or RMB2.57 per unit, equivalent to HK$2.85 per unit based on the central parity rate announced by the People's Bank of China on 31 December 2025. The closing unit price of HK$1.24 on 31 December 2025 represented a 56.4% discount to the NAV per Unit.","length":995,"tagName":"p"},{"type":"text","content":"In January 2025, CMC REIT (through its wholly-owned subsidiary) entered into a 5-year facility agreement with an independent third-party bank (as lender) for a loan facility of up to RMB4.1 billion at a fixed annual interest rate of 2.80%. An amount of RMB4.008 billion from this new loan facility was drawn down in January 2025 and used to fully prepay all former offshor...

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