Beibu Gulf Port launches public REITs for port infrastructure

Beibu Gulf Port is diversifying its financing channels and optimizing asset utilization by initiating the application and issuance of public REITs for port infrastructure. The underlying assets for the REITs will be the 1# and 2# berths at Beimu Operations Area in Tieshan Port West Port District, Beihai City, Guangxi Zhuang Autonomous Region, held by its wholly-owned subsidiary, Beihai Port Terminal Co., Ltd. This move aligns with the company's "two-wheel drive" development model to enhance market value and promote a healthy investment and financing cycle.

The proposed REITs will be managed by Ping An Fund Management Co., Ltd. Beibu Gulf Port or its affiliated entities under common control will participate in the strategic placement of the REITs, with an aggregate subscription ratio of 70% (50% by Beibu Gulf Port and 20% by Beihai Port Terminal Co., Ltd.). The proceeds from the REITs issuance will primarily be used for infrastructure construction, including in-progress, preliminary, and existing asset acquisition projects.

In related updates, Beibu Gulf Port has also issued revised "Accounting Policies and Estimates System," "Liability Management Measures," and "Debt Financing Management System." Additionally, Huatai United Securities confirmed no objections to Beibu Gulf Port's projected related-party transactions for 2026 with Shanghai COSCO Shipping Terminal Development Co., Ltd. and its affiliates, totaling CNY 112,952.90 million. These transactions are expected to continue supporting the company's normal business operations.