A Study On Risk Management For Huhangyong Expressway REITs

REITs is invested by social investors through the issuance of shares or other forms of profitable securities,which its basic asste is the Real estate.The first batch of publicly raised REITs in our country were officially listed for sale in June 2021,which marks the smooth landing of the REITs.This thesis taking the Huhangyong Expressway REITs as an example,concluding the Huhangyong Expressway REITs has following characteristics: Public Offering of Fund+asset-backed securities plan structure,tax neutrality,prefering investing basic asste,protection of investors’ rights and interests,higher strategic allotment ratio.This thesis collected relevant literature,constructing a risk hierarchy analysis system.The main items include macro risk,policy risk,management risk and project risk.At the same time,the thesis classified the risk of Huhangyong Expressway REITs.On the mean time,the thesis believes that the level of management make an important impact on the real estate revenue benefit,based on this,the EVA rate index used to comparing the EVA rate of Hang Hui Expressway company with the similar enterprises in the A-share market.In addition,the thesis also uses Monte Carlo simulation to measure the safety level of the future cash flow of the enterprise.Finally,the thesis thought that this company can carry out following ways to manage its risks,that is establishing a suitable risk response plan,formulating a risk management implementation project,improving the quality of investment,paying more attention on the carbon emission management,and improving the personnel professional quality.