CapitaLand China Trust
SGX:AU8U

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CapitaLand China Trust Logo
CapitaLand China Trust
SGX:AU8U
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Price: 0.78 -0.64% Market Closed
Market Cap: 1.4B

CapitaLand China Trust
Investor Relations

CapitaLand China Trust (CLCT), a prominent player in the world of real estate investment trusts (REITs), has carved out a distinct niche by deftly navigating the dynamic and often unpredictable Chinese real estate market. CLCT primarily focuses on income-producing real estate assets, with a diversified portfolio sprawling across retail, office, and industrial sectors in the key cities of China. This strategic diversity helps CLCT tap into the burgeoning urban middle class, driving demand for commercial real estate across the food and retail sectors. The Trust's investment philosophy leans on acquiring well-located properties with high growth potential and stable income, which they then manage adeptly to maximize returns. By leasing spaces within these properties, CLCT creates a consistent revenue stream, ensuring steady cash flow and income distribution to its unit holders.

Operating within the intricate tapestry of China’s urban landscape, CLCT capitalizes on the growing consumer and business activity in cities like Beijing and Shanghai. The trust's experienced management team actively cultivates strong relationships with tenants, ensuring high occupancy rates and long-term leases—key elements to its business model's success. Additionally, CLCT embraces a proactive asset enhancement strategy, investing in property upgrades and developments to boost appeal and value. This not only attracts top-rate tenants but also enables increased rental rates over time. The combination of geographical diversity, strategic asset management, and a focus on consumer-driven sectors positions CLCT to continuously navigate and weather the complexities of the real estate market while striving to deliver value to its investors.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 30, 2025
AI Summary
Q3 2025

Revenue Decline: Gross revenue and net property income (NPI) both dropped by 8% year-on-year, mainly due to the divestment of CapitaMall Yuhuating.

Retail Resilience: Retail sales and shopper traffic grew, but overall rental reversions stayed slightly negative, with management guiding for continued caution.

C-REIT Success: CLCT listed China's first internationally sponsored retail C-REIT (CLCR) and divested Yuhuating at a premium, with strong IPO demand and pricing.

Capital Management: Gearing improved temporarily to 28.8% and the cost of debt edged down to 3.36%; RMB-denominated debt targeted to exceed 50% by year-end.

Asset Reinvestment: Proceeds from divestments will initially pay down debt, but management is open to unit buybacks or redeployment into new retail assets.

AEI Impact: Asset enhancement initiatives (AEIs), especially at CapitaMall Xuefu and Yuhuating, drove significant increases in traffic and sales.

Occupancy Focus: In business parks, management is prioritizing occupancy over rent growth, aiming for higher committed occupancy by year-end.

Key Financials
Retail Allocation (GRI)
69.9%
Business Parks Allocation (GRI)
26.5%
Logistics Parks Allocation (GRI)
3.6%
Distribution Yield
6.2%
Retail Occupancy Costs
17.7%
Retail Reversion (9 months)
-1.5%
Business Parks Occupancy
85.2%
Business Parks Reversion (9 months)
-8.9%
Logistics Occupancy
96.6%
Total Debt
SGD 1.6B
Gearing
28.8%
Average Cost of Debt
3.36%
Interest Coverage Ratio (ICR)
2.9x
Average Debt Maturity
3.4 years
Fixed Debt Percentage
80%
RMB-denominated Debt
45%
CapitaMall Xuefu AEI Shopper Traffic Increase
20.8%
CapitaMall Xuefu AEI Tenant Sales Increase
24%
CapitaMall Yuhuating AEI ROI
12.6%
CapitaMall Yuhuating AEI Shopper Traffic Increase (Golden Week)
13%
CapitaMall Yuhuating AEI Tenant Sales Increase (Golden Week)
21%
CLCR IPO Trading Price
CNY 5.718 per unit
CLCR Opening Price vs. IPO
19.6% above IPO price
CLCR Trading Yield
3.8% to 3.9%
CLCR IPO DPU Yield
4.4%
CLCR IPO Oversubscription (Institutional)
254x
CLCR IPO Oversubscription (Retail)
535x
Other Earnings Calls
2023
2022
2019
2018

Management

Mr. Tze Wooi Tan
CEO & Executive Non-Independent Director of CapitaLand Retail China Trust Management Limited
No Bio Available
Ms. Siew Bee Tan CPA
Chief Financial Officer of CapitaLand Retail China Trust Management Ltd.
No Bio Available
Mr. Hong You
Head of Investment & Portfolio Management of CapitaLand Retail China Trust Management Limited
No Bio Available
Ms. Yu Qing Chen
Head of Investor Relations - CapitaLand Retail China Trust Management Limited
No Bio Available
Mr. Kin Leong Chan
Deputy Chief Executive Officer
No Bio Available
Ms. Cher Shing Chuo
Company Secretary of CapitaLand Retail China Trust Management Limited
No Bio Available

Contacts

Address
168 Robinson Road, #30-01 Capital Tower
Contacts
+6567132888.0
www.clct.com.sg