On April 24, 2023, “Ping An Securities-China Railway Construction Venture Building Asset-backed Special Plan (quasi-REIT)” was successfully offered, becoming the first capital-increase REIT in China.

The manager of this special plan is Ping An Securities Co., Ltd., the original owner is China Railway Construction Group Co., Ltd., and the underlying asset is China Railway Construction Venture Building. Equity in the project company is acquired the through direct capital increase under this special plan, and the consolidation of equity of the original owner under REIT is realized through a structure of one single SPV.

DONGWan and her team members Zhang Yiming and Wang Qingru have advised on this special plan throughout its establishment and issuance , including design of and demonstration on transaction structure, legal due diligence, drafting of transaction documents, providing legal comments, etc. The project team have been recognized and affirmed by the client and the intermediaries involved for its diligent and dedicated manner of working and professional and efficient service capabilities.