Ningxia achieves its first public REITs breakthrough.

Recently, the Guojin Jiazexin Energy Closed-End Infrastructure Securities Investment Fund received registration approval from the China Securities Regulatory Commission, making it the first public REITs project in the Ningxia Hui Autonomous Region. Jiazexin Energy, as the sponsor and original equity holder, will inject its Jiaojiapan 100MW wind farm and Xin Nongcun 17.5MW wind farm, both located in Tongxin County, Wuzhong City, Ningxia Hui Autonomous Region, into the REITs underlying assets, with a total installed capacity of 117.5MW. Both projects were incorporated into the supporting power sources of the UHV Lingzhou-Shaoxing DC transmission line in November 2025, and the clean electricity generated is mainly transmitted to Zhejiang Province via the Lingzhou-Shaoxing DC line, deeply integrating into the broader framework of "West-to-East Power Transmission."