ZhaoShangJu Commercial REIT (01503) released business data for the three months ending June 30, 2024. In the second quarter, the average occupancy rate of the office portfolio of China Merchants Commercial REIT Fund was 94.7%, up 2.9 percentage points from the previous quarter; the average occupancy rate of the property was 93.5%, up 1.4 percentage points from the previous quarter. The supply of office property in the core area of Shenzhen continued to increase, and market rent was under pressure. The company responded to market pressure by adopting a 'price for volume' strategy to enhance competitiveness.

In terms of occupancy, the Science and Technology Building and Science and Technology Building Phase II are fully occupied, and the occupancy rates of the other three office buildings have all increased. The Digital Building and China Merchants Huanhua Science and Trade Center performed well, with an increase of 2.3 percentage points and 2.5 percentage points to 91.1%. The occupancy rate of the New Era Plaza increased by 6.8 percentage points to 92.3% month-on-month, the highest increase among the six properties. Regarding current rent, except for the current rent of the Science and Technology Building, which remains unchanged, the rents of other properties have all decreased to varying degrees. Among them, the rents of Science and Technology Building Phase II and Digital Building decreased by RMB 0.3 per square meter and RMB 1.1 per square meter, respectively. The current rent of China Merchants Huanhua Science and Trade Center decreased from RMB 292.7 per square meter to RMB 290.1 per square meter. New Era Plaza attracted and signed up some tenants with significant rent discounts, causing its current rent to drop from RMB 158.3 per square meter to RMB 152.9 per square meter, a decrease of 3.4%. After full reopening at the beginning of the year, Garden City's occupancy and rent per unit have fluctuated. The company will continue to carry out a series of promotion activities, including holding holiday markets and competitions, and providing free shuttle bus services to and from the Shenzhen Bay Port through the subway connecting port. The company believes that these strategies will further promote customer consumption and optimize tenant mix, ultimately enhancing overall operating performance.

Regarding current rent, except for the current rent of the Science and Technology Building, which remains unchanged, the rents of other properties have all decreased to varying degrees. Among them, the rents of Science and Technology Building Phase II and Digital Building decreased by RMB 0.3 per square meter and RMB 1.1 per square meter, respectively. The current rent of China Merchants Huanhua Science and Trade Center decreased from RMB 292.7 per square meter to RMB 290.1 per square meter. New Era Plaza attracted and signed up some tenants with significant rent discounts, causing its current rent to drop from RMB 158.3 per square meter to RMB 152.9 per square meter, a decrease of 3.4%.

After fully reopening at the beginning of the year, Garden City's occupancy and rent per unit have fluctuated. The company will take advantage of the opportunity of the opening of the subway connecting port to continue a series of promotion activities, including holding holiday markets and competitions, and providing free shuttle bus services to and from the Shenzhen Bay Port. The company believes these strategies will further promote customer consumption, optimize tenant mix, and ultimately enhance overall operating performance.