Here is the English translation of the Chinese title: **”Guotai Haitong Sasseur Commercial REIT Successfully Listed Today”**

Sasseur (Xi’an) Outlets “Northwest China’s No. 1 Outlet“ Lands on the Capital Market, Gong Ceremony Held Successfully

ShanghaiJune 18, 2026 /PRNewswire/ — This morning, at the trading hall of the Shanghai Stock Exchange, Sasseur Group welcomed a historic moment—the successful listing of the Guotai Haitong Sasseur Closed-End Commercial Real Estate Securities Investment Fund (Fund abbreviation: Guotai Haitong Sasseur Commercial REIT, Fund code: 508602).

The issuance of the Guotai Haitong Sasseur Commercial REIT marks a significant milestone in Sasseur Group’s development journey, establishing an authoritative paradigm for the innovative development of asset securitization in domestic private commercial real estate, and also signifies the successful completion of Sasseur Group’s initial public offering in mainland China’s capital market.

Listing Ceremony: Jointly Striking the Gong to Open Trading

At 8:50 AM, the listing ceremony officially began. Representatives from the Shanghai Stock Exchange, Guotai Haitong, Sasseur Group, intermediary agencies, investors, and other relevant institutions gathered together.

Witnessed by all guests, Mr. Xu Rongcan, Chairman of the Board of Sasseur Group, along with representatives of various guests, swung the mallet to strike the gong and open trading. The real-time market data at the opening was then displayed on the big screen, drawing thunderous applause from the audience.

In his speech, Sasseur Group Chairman Xu Rongcan stated: “Sasseur has been rooted in commercial operations for nearly 37 years and has deeply cultivated the outlet track for 18 years, always adhering to the concept of ‘Artistic Commerce • Super Outlet.’ Today’s successful listing is the highest recognition of Sasseur’s long-term dedicated operations and continuous innovation. The establishment of the REIT platform marks Sasseur’s strategic leap from an ‘outlet operator’ to an ‘asset management platform.’ In the future, we will earnestly fulfill our primary responsibilities, ensure the stable operation of the project, promote the continuous inclusion of more high-quality projects, repay investor trust with stable returns, and contribute to the high-quality development of the commercial real estate REIT market.”

Underlying Asset: A Well-Deserved “Northwest China’s No. 1 Outlet“

The underlying asset of this listed REIT is Sasseur (Xi’an) Outlets. Located in the Chanba International Port of Xi’an City, the project has a commercial building area of 141,300 square meters and is a benchmark project of Sasseur Group’s “Artistic Commerce • Super Outlet” model.

In 2025, it achieved sales of approximately 2.791 billion yuan and attracted about 12.59 million visitors, consistently ranking first in outlet sales in Northwest China for many years. It is truly the ‘Northwest China’s No. 1 Outlet’—a label that reflects a comprehensive embodiment of operational capability, brand appeal, and consumer reputation. In the first quarter of 2026, the project continued its strong growth momentum, with total sales reaching approximately 868 million yuan, a year-on-year increase of 14.64%. Operating income and net operating income grew by 14.75% and 23.63% year-on-year, respectively, and the number of members increased by 25.68% compared to the same period last year.

Growth is the Best Proof of Asset Value— The project valuation reached 5.028 billion yuan, with an appreciation rate of 459%, and the average occupancy rate has remained above 98% for three consecutive years. From 2023 to 2025, net income grew from 277 million yuan to 313 million yuan, continuously validating its cash flow generation capability.

The label “Northwest China’s No. 1 Outlet” is not only a reflection of leading sales but also a comprehensive embodiment of operational capability, brand appeal, and consumer reputation. Listing on the REIT market with Sasseur (Xi’an) Outlets as the underlying asset fully confirms the value discovery function of high-quality commercial real estate in the capital market.

Issuance Overview–High Market Recognition

As one of the first batch of commercial real estate REITs in the country, according to public announcements, the total offering shares of Guotai Haitong Sasseur Commercial REIT are 1 billion units, with an issuance price of 5.531 yuan per unit, raising total funds of approximately 5.531 billion yuan, and an issuance premium rate of 10%. During the offline inquiry phase, the effective subscription multiple reached as high as 103.82 times, and during the public offering phase, the subscription multiple reached 330.20 times, ranking among the top in the same batch of four commercial real estate REITs.

The above issuance data indicates that professional investors and the general public have highly recognized the quality of Sasseur’s underlying assets, operational stability, and future cash flow expectations.

The successful listing of this REIT marks that Sasseur Group’s high-quality outlet assets have obtained a public pricing in the capital market, and the group has officially formed a complete business cycle of “investment, financing, management, and exit.” This is not only a quantitative recognition by professional investment institutions of the group’s years of deep cultivation in the outlet track but also an authoritative endorsement of Sasseur’s operational capabilities. Through the REIT platform, Sasseur will have more flexible and efficient capital tools to accelerate the implementation of its national expansion strategy and replicate the successful experience of Sasseur (Xi’an) Outlets to nearly 20 outlet projects nationwide.

The sound of the gong has already rung, and a new journey has officially begun. From Xi’an Chanba to the Shanghai Securities Tower, an outlet has completed the leap from a consumer landmark to a capital target—this is not only Sasseur’s success but also an important signal that the value of China’s outlet industry has been recognized by the mainstream capital market.