?? ????????2024??????:?????69.8%,????
![](https://image.chezhanri.com/2019/0628/20190628160034447.jpg)
????:1???????????:????
2?????600?????
3????????????
4???????
5???????
8??30?,???????????????(601828.SH?01528.HK)????????2024???????????????????????????????,?????????
?????,2024?????????????????,?????????42.25?????,?????12.53?????????29.03??,?????68.7%,??????69.8%?
???????????????,?????,?,??????????,??4.6???????????????????????9.19??????????????,???????????????????8.33???????,????????????
????,????????????,???????????????????????????????????????????????????????????
???????????????,?????
????????????,??????,??????????????,????????????????????,?????????????,????36.41??????CMBS(Commercial Mortgage Backed Securities,???????????),????????????????
?????????????,??,?????????,?????????????
??????,???????????????????????????????????????????????????????????????,?????????????,??????????????????????????????????????,??????????????,??????B???????????????(????????????????)??????????????????,????????,?????????????????,??,?????
????????????????,???
???????????????,??
???????????????,??3+?????????????????????,??????????????????????,??????????????????????????????????????????
3+?????????????????,?????????????M+??,????,?????????????????16?M+?????????????,????????????84????,???????2025??M+?MALL????????????????,??????????????????????533?????????????,?????
?????????????,????????????????????????,????,??????????????,???????????????,?????????????????????????;?????????????????M+???????????????????????,???????????????????????????????,??,??????????????
??????????????,?????
?????,??????,??????????????????????????????????,?????????,????????????????16???
??????,????????,??????600?????????????,????????????????????,???????????????????????????????????
?????????,????????????????????
??????,??????????????????????????????,?????????????????,????????????????,??????
????,??????,?????p????,??????????????????????,???????????????????,?10??
??????????,?????????,?????????????????????;????????Tims??????,??????Mall???????????????????,??????????????????????????????????????,????????????????
????????,???????????????????????????,???1???????,?????????2???????????????8?????,2?????????????????,??????????????????3???????????,???????13????????????
????,????????????????????????????????????????
????????,??????????????????????,?????????????????,??????????
????????????,??,???????
2023????3??????????????????,???????????????????????????????REITs??,??????????????,???REITs????????????????2023???????????????????7??,??????13??,?????????????? REITs?
????,??????,??REITs??????,??????,??????????????,?????????
??????????2024????6????,?????????85???????????,267??,7???????,49??,?????????????439?????????/???????
???,????????????????,???????????,??????,?????????? ????????????????????:????????????