Huaxia Fund releases ESG reports for 11 REITs for the year 2025 collectively

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On March 31, 2026, 11 publicly offered REITs under Huaxia Fund simultaneously released their 2025 environmental, social, and governance (ESG) reports. This round of centralized disclosure not only breaks the record for the number of REITs ESG reports published by the same fund manager, but also becomes, to date, the largest centralized presentation of ESG practices among publicly offered REITs by scale within mainland China. This move not only highlights Huaxia Fund’s leading position in the publicly offered REITs sector, but also reflects its sense of responsibility and commitment in promoting standardized industry ESG practices and sustainable development. It will further help China’s publicly offered REITs market move into a new stage of standardized and routine ESG information disclosure.

The 11 REITs releasing ESG reports this time comprehensively cover asset types of publicly offered REITs, including expressways, rental housing, industrial parks, consumption, and clean energy. Specifically, they include Huaxia Yuexiu Expressway REIT, Huaxia Beijing Affordable Housing REIT, Huaxia Fund Huayrun Youcai REIT, Huaxia Hefei Hi-Tech REIT, Huaxia Heda Kegao REIT, Huaxia Jinmao Commercial REIT, Huaxia China Resources Commercial REIT, Huaxia Joy City Commercial REIT, Huaxia凯德 Commercial REIT, Huaxia TBEA New Energy REIT, and Huaxia Huadian Clean Energy REIT, forming a diversified, full-scenario ESG practice matrix.

Strengthening Long-Term Value of Assets** and**** Deeply Integrating ESG into the Full Lifecycle of REITs**

Huaxia Fund has already cumulatively issued and listed 19 publicly offered REITs, with assets under management exceeding 45.4 billion yuan. It is the fund manager with the largest scale and the most number of publicly offered REITs funds in mainland China. The centralized release of ESG reports by these 11 REITs is not only an active response to the national “dual carbon” strategy, but also vividly demonstrates Huaxia Fund’s practical achievements and long-term plans to deeply integrate ESG concepts into the full lifecycle management of publicly offered REITs.

Huaxia Fund’s core logic for integrating ESG into the full lifecycle of REITs lies in comprehensively and systematically considering ESG factors, continuously improving the quality of the underlying assets and operational efficiency of REITs, thereby achieving long-term, stable investment returns, and ultimately creating sustainable value for investors. Based on this logic, the 11 REITs disclosed in this round all combine their own asset characteristics and have charted distinctive ESG practice paths, establishing benchmarks that can be referenced for the sustainable operation of REITs products across different fields.

To look at it in detail: in the expressway sector, Huaxia Yuexiu Expressway REIT, by improving green operations processes and strengthening environmental protection oversight, promotes a green transition in the transportation sector; its related practices have become an industry model. In the people’s livelihood sector, Huaxia Beijing Affordable Housing REIT and Huaxia Fund Huayrun Youcai REIT focus on the rental housing field, continuously improving housing supply and optimizing living services, helping address urban housing challenges. In the industrial park sector, Huaxia Hefei Hi-Tech REIT and Huaxia Heda Kegao REIT leverage technological innovation to empower and continuously improve supporting park services, helping promote high-quality development of the real economy. In the consumption sector, Huaxia Jinmao Commercial REIT, Huaxia China Resources Commercial REIT, Huaxia Joy City Commercial REIT, and Huaxia凯德 Commercial REIT embed green concepts into the entire commercial operations process, optimize merchant management, enhance consumer experience, and drive sustainable upgrades of commercial scenarios. In the clean energy sector, Huaxia TBEA New Energy REIT and Huaxia Huadian Clean Energy REIT continuously improve energy utilization efficiency through technological optimization, helping the “dual carbon” strategy take hold effectively.

Industry insiders point out that the asset attributes of publicly offered REITs are highly aligned with sustainable development goals. With underlying assets’ life cycles lasting as long as decades, ESG performance has become a core dimension for assessing long-term asset value and enhancing risk resilience. Integrating ESG into the full lifecycle of REITs is both an inevitable choice to respond to national strategy and an active strategy for fund managers to improve asset quality and create long-term value.

From Pioneers to Deep Planners,** Continuously Promoting Industry ESG Standardization**

In the ESG field, Huaxia Fund has always been at the forefront of the industry. As early as 2017, it became the first publicly offered institution in mainland China to sign the United Nations Principles for Responsible Investment (UNPRI), deeply embedding ESG concepts into corporate culture and investment logic. The company has published the “China ESG Investment Development Innovation White Paper” for five consecutive years, and in 2021 it took the lead in committing to specific goals and pathways for carbon neutrality. It has achieved carbon-neutral operations for three consecutive years, continuously fulfilling its mission in green finance.

In ESG practices within the publicly offered REITs sector, Huaxia Fund also leads industry breakthroughs through innovation. In 2022, jointly with Yuexiu Transportation, it launched the first ESG report for publicly offered REITs in mainland China, opening the industry’s precedent for ESG disclosure. In 2025, it promoted 8 publicly offered REITs to centrally release their ESG reports, becoming a landmark example in mainland China where the same fund manager promoted multiple REITs to collectively disclose ESG practice results for the first time, setting an industry milestone. This time, it further expanded the disclosure scope to 11 products, pushing ESG practices to deeper levels and broader areas.

Industry insiders said that, currently, the market scale of China’s publicly offered REITs continues to expand, and ESG is gradually becoming an important yardstick for distinguishing asset quality. Under the triple drivers of policy support, capital preference, and technological innovation, ESG is expected to be elevated from a risk management tool to the core competitiveness of publicly offered REITs, driving the industry’s transition toward greater greenness, standardization, and internationalization. Huaxia Fund’s promotion of 11 publicly offered REITs to centrally release ESG reports is not only a comprehensive sorting and public commitment regarding its own ESG practices, but also more effectively breaks the industry’s current situation where REITs ESG disclosures are dispersed and standards are not unified, establishing a benchmark for centralized and standardized disclosure. As a leader in the publicly offered REITs industry, Huaxia Fund not only stays ahead in product layout and scale management, but also actively takes responsibility in ESG practice and standards building—by building a comprehensive ESG management system, strengthening ESG control over underlying assets, and openly and transparently disclosing ESG practice results—providing the industry with valuable experience that is replicable and promotable.

Burying Deep Roots and Working Meticulously to Start a New Journey,** Helping Drive High-Quality Development of Publicly Offered REITs**

A relevant person in charge at Huaxia Fund said that the centralized release of ESG reports by these 11 publicly offered REITs is an important initiative for the company to practice the philosophy of “sustainable development and finance for the people,” and is also a strong fulfillment of its commitment to “responsible investment.” In the future, Huaxia Fund will continue to deepen its work in the publicly offered REITs sector, continuously expand product layout, improve the ESG management system, and promote deep integration of ESG concepts with REITs operations and investing, further enhancing the quality of underlying assets and the ability to create long-term value. Meanwhile, the company will fully leverage its industry-leading role, share practical experience, and help raise the industry’s overall ESG level, contributing more financial strength to the high-quality development of the publicly offered REITs market, to serve the real economy, to promote green development, and to achieve common prosperity.

Looking ahead, as the quality of ESG information disclosure in mainland China continues to improve and the “dual carbon” goals are advanced more deeply, ESG development for publicly offered REITs will shift from a “optional” item to a “required-answer” item. Huaxia Fund’s centralized release of ESG reports by these 11 REITs is not only a firm commitment to its own social responsibility, but also a strong demonstration for the industry, injecting new momentum into China’s green transformation and the high-quality development of publicly offered REITs.

Risk disclosure: 1．Publicly offered REITs have different risk-return characteristics from publicly offered mutual funds that invest in stocks or bonds. Their expected risks and returns are higher than those of bond funds and money market funds, lower than those of stock funds. They are mid-to-high risk products. The specific risk rating results shall be subject to the ratings provided by the fund manager and sales institutions. 2．Publicly offered REITs are real estate investment trust funds. Most assets invest in real estate projects and have equity characteristics. They are affected by factors such as the economic environment and operating management. The market value and cash flow situation of real estate projects may change, which may lead to price fluctuations of this fund, and there is also a risk that real estate projects may suffer significant losses due to extreme events (such as earthquakes, typhoons, etc.), affecting the fund’s price. 3．Publicly offered REITs invest in fixed-income assets other than real estate, and may face credit risk, interest rate risk, risk related to the yield curve, spread risk, supply-demand risk, and purchasing power risk. 4．Publicly offered REITs adopt a closed-ended operation, do not open subscriptions or redemptions, and can only be traded in the secondary market, which involves the risk of insufficient liquidity. 5．This fund has other risks related to publicly offered funds and risks related to real estate projects. Please see legal documents such as the prospectus for details. 6．The fund management company does not guarantee that this fund will definitely make profits, nor does it guarantee a minimum return. 7．Before investing, investors should carefully read the legal documents of this fund, including the “Fund Contract,” the “Prospectus,” their updates, and the “Product Information Summary.” Investors should fully understand the risk-return characteristics and product features of this fund, seriously consider all risk factors that exist for this fund, and based on factors such as their own investment objectives, investment horizon, investment experience, and asset status, fully consider their own ability to bear risk. After understanding the product information and the sales appropriateness opinions, investors should make a rational judgment and make cautious investment decisions, independently bearing investment risks. 8．This material does not serve as any legal document. All information in the material or the opinions expressed do not constitute the final operational recommendations for investments, legal affairs, accounting, or taxes. Our company provides no guarantee regarding the final operational recommendations for the content in this material. Under any circumstances, our company shall not be responsible for any losses incurred by any person due to the use of any content in this material. The operating time of Chinese funds is relatively short and cannot reflect all stages of stock market development. There are risks in the market; proceed with caution when entering.

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Responsible editor: Guo Xutong