On March 19, 2020, "Gemdale Strongberry Public Offering ABS Phase 1", with WINS Investment as the general coordinator and transaction consultant, and China Capital as the plan manager and lead underwriter, was successfully issued on Shanghai Stock Exchange with the issuance scale of RMB 111 million yuan, including the priority scale of RMB 110 million, with a total period of 3+3+3 years, the rating of AAA, and the issuance interest rate of 4.5%, and many investors have oversubscribed it. Gemdale Strongberry Public Offering ABS Project has a shelf scale of RMB 2 billion, with its issuance in progress. This is the first " asset- lighturban renewal" asset securitization product of long-term rental apartments on the Shanghai Stock Exchange.

The method of shelf-type issuance by installments is adopted for this project, the total issuance amount does not exceed RMB 2 billion, and the number of issuance installments does not exceed 8. The mechanism of prior/secondary tiers is adopted, in which the priority has been awarded AAA by the joint rating. The source of the underlying assets of this plan is the future lease service fee. For this product, Shenzhen V-Seen, a subsidiary of Gemdale Properties & Investment, serves as the original stakeholder, WINS Investment serves as the general coordinator/transaction consultant, China Capital serves as the plan manager/lead underwriter, and Gemdale Strongberry is responsible for project operation and management. The project has so far completed its Phase 1 issuance and has been widely recognized by investors.

On October 17, 2017, Shenzhen promulgated the "Implementation Opinions of the General Office of Shenzhen Municipal People's Government on Accelerating the Cultivation and Development of the Housing Rental Market" (hereinafter referred to as the "Opinions") to strongly support the development of the housing rental market. The "Opinions" states that Shenzhen will guide the "villages in the city" to carry out large-scale leasing through comprehensive renovation. On June 5, 2018, Shenzhen promulgated the "Opinions on Deepening the Reform of the Housing System and Accelerating the Establishment of a Housing Supply and Security System with Multi-entity Supply and Multi-channel Guarantees (Exposure Draft)" , which clearly states that "we should support community joint-stock cooperative companies and original villagers, and provide various types of rental housing that meet the requirements through the comprehensive renovation and transformation of the "villages in the city".

    The first-batch pooled assets of this project are mainly urban villages in Shenzhen, with Gemdale Strongberry as the operator of the underlying asset apartments. The issuance of ABS is an important practice of Gemdale Strongberry in response to the national policy of developing long-term rental apartments and revitalizing long-term rental apartment assets. It is another measure taken to actively implement the basic policy of “no speculation in housing” , speed up the establishment of the housing system of multi-entity supply, multi-channel guarantee, and simultaneous development of rental and purchase, and boost the national strategy of promoting the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.

This product is another innovative product with a strong market influence launched by WINS Investment as the general coordinator and transaction consultant after successfully issuing "Harvest-Gemdale No. 8 Bridge Asset Backed Securities", the first domestic ABS product in the asset- light creative office park. WINS Investment carried out in-depth research and exploration and reasonable design in such aspects as the early selection and engagement of the tripartite agency, the demonstration of transaction and product structure, the screening of pooled assets and the determination of issuance scale, and contributed to the Phase 1 oversubscription in the issuance work, together with the Capital Management Department of Gemdale Group, Gemdale Properties & Investment and China Capital, and with the cooperation of the operation and management team of Gemdale Strongberry.

Gemdale Strongberry -Youth Products

Gemdale Strongberry -Premium Products

Gemdale Strongberry

Gemdale Strongberry is a long-term rental apartment brand under Gemdale Properties & Investment. It is committed to creating "the warmest and loving community". It has won industry awards for a number of successive years and has grown into one of the most influential long-term rental apartment brands in China. In 2019, the community products of Gemdale Strongberry were upgraded to integrate the business philosophy of “residential, commercial, social, service-oriented and interactive space” to provide full-life-cycle rental products for mainstream urban development populations. The product line covers youth and premium products. In addition, Gemdale Strongberry has built a unique Strongberry culture and multi-dimensionally practiced the brand concept of "Seeing Good Berry Life" by creating its exclusive IP: "Big and Small Berry", so as to create a new life for new urban youth. Since its establishment, Gemdale Strongberry has been seeking high-quality expansion, focusing on the development of China's core cities. As of March 2020, it has been rooted in the core city clusters based in Shenzhen and Guangzhou in the Pearl River Delta, Shanghai and Hangzhou in the Yangtze River Delta, and Chengdu, a key city in southwestern China, operating nearly 10,000 apartments. In the future, Gemdale Strongberry will actively expand to Beijing, Qingdao, Wuhan, Nanjing and other cities.

China Capital

China Capital was established in December 2012 with a registered capital of RMB 350 million. It is a wholly-owned subsidiary of China Asset Management Co., Ltd. China Capital's main business scope is: specific customer asset management and other business approved by the China Securities Regulatory Commission. Since its establishment, China Capital has always adhered to stable operation as the company's development principle, actively exploring the direction of business development under the premise of strict risk control, and striving to build a multi-level product system. As of December 2018, China Capital had more than 110 surviving asset management plans, exerting management over more than RMB 80 billion of surviving assets.

WINS Investment

WINS Investment is a professional real estate investment institution under Gemdale Group and an important part of Gemdale Group's "One Body, Two Wings" strategy. It has branches in Beijing, Shanghai, Shenzhen, Hong Kong and other cities. WINS Investment started the exploration of domestic real estate financial business in 2006. In 2008, it cooperated with the internationally renowned UBS Global Asset Management Group (UBS) to establish a U.S. dollar fund (UG fund). In 2010, it began to expand RMB fund business. WINS Investment is committed to creating a stable and professional investment platform for global investors. From 2012 to 2019, it was successively rated by Zero2IPO Group, China Index Academy, Yicai, China Venture, Guandian, Chinese Venture and many other authorities and media as TOP10 among RMB real estate funds. WINS Investment has always persisted in increasing efforts and exploration in the field of financial innovation, and has participated in the establishment of "Harvest-Gemdale No. 8 Bridge Asset-backed Securities", the first asset securitization product of the cultural and creative park in the domestic history of ABS. This product of "Gemdale Strongberry Public Offering ABS" has achieved an innovative breakthrough in asset- light shelf-type issuance. In the future, WINS Investment will continue to carry out innovative explorations in the field of asset securitization, discover and create value for investors, and contribute to the healthy development of the real estate market!