?? ?????2024????????:??????69.8%,????
![](https://image.chezhanri.com/2019/0523/20190523151231845.jpg)
????:1?????????:??????????
2????????
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?????????????????/???????????????????????
?????????,???????,??????????,???????????,???????????? ??????????????????:??????