OPERATIONS REVIEW TOP 10 TENANTS (Based on percentage of Total Rental Income in the month of December 2023) As at 31 December 2023, no single tenant contributed more than 2.4% of CLCT portfolio’s total rental income. The portfolio’s biggest tenant exposure is JD.com Group. Our strategic focus on AEIs during FY 2023 resulted in the successful transformation of anchor spaces into vibrant specialty tenant areas. By incorporating a diverse selection of lifestyle offerings and experiential elements that resonate with our consumers, we have further mitigated tenant concentration risks and bolstered the overall stability and diversification of our portfolio. Accordingly, the total contribution by the top 10 tenants now accounts for only 10.7% of the portfolio’s total rental income as at 31 December 2023. TOP 10 TENANTS Tenanti Brand Names Trade Sector % of Total Rental Incomeii,iii 1 JD.com Group of Companies Jingxundi Supply Chain Management Jingbangda Supply Chain Management 7FRESH E-commerce Logistics and Warehouse Supermarket 2.4% 2 BHG Group of Companies Beijing Hualian Supermarket Supermarket 1.6% 3 Ping An Insurance Company Ping An Insurance Financial Services 1.2% 4 Bosideng International Holdings Limited Bosideng Fashion & Accessories 1.0% 5 Bestseller Group of Companies ONLY JACK & JONES VERO MODA Fashion & Accessories 1.0% 6 Hangzhou Yuelong Yuelong Technology Real Estate 0.8% 7 Zhejiang Hebenye Enterprise Management Co., Ltd Zhejiang Hebenye Enterprise Management Real Estate 0.7% 8 Guangdong Yongwang Tee Mall Commerce AEON Supermarket 0.7% 9 Yum China Holdings, Inc KFC Pizza Hut Lavazza Food & Beverages 0.7% 10 Fast Retailing Co., Ltd. Uniqlo Fashion & Accessories 0.6% i Tenants that are under the same group of companies are listed together. ii Includes both gross rental income and the gross turnover rental income (GTO) components to account for pure GTO leases. iii Based on CLCT's effective interest in each property. Including 51% interest in Ascendas Xinsu Portfolio, 80% interest in Ascendas Innovation Hub, 80% interest in Singapore-Hangzhou Science & Technology Park Phase I and Phase II. SENSITIVITY ANALYSIS Assuming the monthly average rental rate is kept the same for the whole of 2023, a 0.5% increase or decrease in occupancy in each month of 2023 would result in an estimated S$1.78 million increase or decrease in rental income for FY 2023 respectively. 8 Based on the average exchange rate (SGD/RMB) of 5.243 for FY 2023. 56 CAPITALAND CHINA TRUST
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