This year, the overall bleeding of PE has become a sad song in the industry, but Zhao Linghuan Hongyi Investment seems indifferent in this big environment. A brief inventory of Hony Capital's projects recently shows that Hony Capital basically belongs to a real estate PE. Although it doesn't involve conventional mainstream residential real estate, it is found that it is basically invested in various theme real estate (including commercial real estate, cultural real estate, tourism real estate and so on). ), and Hony Capital was approved under tight policies.

2. Investing in Changzhou Dinosaur Park tourism real estate Dinosaur Park Project has reached the fourth stage of Halloween theme. The operation of the project depends on the park tickets and derivatives, and has not yet reached the break-even point. However, judging from the whole project, Hongyi and Dinosaur Park have realized the investment income through the sales of surrounding supporting real estate.

3. The fifth dollar fund invested in Haichang China on its own initiative. Hony not only became the third largest shareholder of the company, but also participated in the management of the target company. Haichang China mainly involves tourism real estate. The projects include Dalian Tiger Beach Polar Ocean World, Jinshi Discovery Kingdom, Qingdao Polar Ocean World, Dalian Hongqi Valley Country Club, Yantai Yudaishan Fisherman's Wharf, Chongqing Caribbean Water World Park, Chengdu Polar Ocean World, Wuhan Polar Ocean World and Tianjin Polar Ocean World. The development mode of Haichang Group is mainly theme park+commercial real estate+residential real estate, which relies on the sales of residential real estate to realize rapid cash flow repayment to maintain the investment funds of theme parks.

4. Strategic shareholding in Haode Group. Haode's commercial real estate mainly operates in third-and fourth-tier cities, and is also planning to set foot in tourism real estate.

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