A few days ago, the Shenzhen Stock Exchange reviewed the application documents for the product change and expansion of the stock of the closed infrastructure securities investment fund of Hongci Innovation Yantian Port Warehousing and Logistics and the listing conditions confirmation of the listing conditions of the Shenzhen Venture Capital -Yantian Port Warehousing and Logistics No. 2 Asset-backed Special Plan, and formed the following review inquiry questions:
1. Ask the fund manager to demonstrate whether the underlying assets meet the relevant requirements of Article 8 (IV) of the "Guidelines for Publicly Promoted Infrastructure Securities Investment Funds (Trial)" Infrastructure Assets Cash Flow is reasonably dispersed and mainly generated by market-oriented operations; further explain whether there are specific risk plans and business plans if the operation method of the complete lease of the infrastructure project changes, or the overall withdrawal of the leaser is in the leasing party.
2. Ask the fund manager to further explain the pricing mechanism of related transactions, demonstrate the rationality of the price of of related transactions in , and disclose detailed information and sufficient risk disclosure.
3. Please ask the fund manager to fully explain the important assumption parameters such as rent price, rent growth rate, occupancy rate, rent collection rate, discount rate and other important hypothetical parameters and the rationality of asset valuation in the valuation model based on factors such as the project's historical operating conditions, future business plans, industry policies, competitive environment and the impact of the new crown epidemic.
4. Ask the fund manager to further develop risk prevention measures in decision-making mechanisms, fund expansion arrangements, etc., and improve the incentive and constraint mechanism for external operation management institutions, propose effective measures to prevent competition and conflicts of interest in industry, and protect the interests of fund shareholders.
5. Ask the fund manager to demonstrate the fees charged by each entity. First, please ask the manager to demonstrate the rationality of the fund management fee level based on the situation of similar listed products, their own costs and expenses, etc.; second, please ask the manager to explain in detail how to allocate and allocate the fund management fee between the fund manager, plan manager, and operation management agency based on their respective responsibilities; third, please ask the manager to demonstrate the rationality of the fee level charged by the operation management agency in detail.
