Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The REITs market is expected to continue to provide good investment opportunities due to the downward pressure on bond market interest rates, the strengthening of policy support, and the anticipated entry of social security and pension funds into the market [4][6] - The market transaction scale for REITs has shown significant growth, with a trading volume of 541 million shares, up 58.65% year-on-year, and a transaction value of 2.381 billion yuan, up 74.69% year-on-year [28][30] Summary by Sections Market Review - The CSI REITs closing index for the 22nd week of 2025 was 868.35, up 8.85% year-on-year but down 0.1% month-on-month. Year-to-date, the index has increased by 14.79%, outperforming the CSI 300 index by 2.87% [16] - The CSI REITs total return index was 1090.07, up 16.77% year-on-year and up 0.03% month-on-month. Year-to-date, it has increased by 26.49%, outperforming the CSI 300 index by 14.57% [21][26] Sector Performance - In the 22nd week of 2025, the weekly and monthly performance of various REIT sectors was as follows: - Affordable housing REITs increased by 0.18% weekly and 5.73% monthly - Environmental REITs decreased by 0.37% weekly and 0.85% monthly - Highway REITs decreased by 0.02% weekly and increased by 2.21% monthly - Industrial park REITs decreased by 1.16% weekly and increased by 1.46% monthly - Warehousing and logistics REITs decreased by 0.59% weekly and increased by 5.31% monthly - Energy REITs increased by 0.45% weekly and 1.87% monthly - Consumer REITs decreased by 0.16% weekly and increased by 6.17% monthly [39][55] Primary Tracking - There are currently 14 REITs funds awaiting listing, indicating a vibrant issuance market [7]
REITs行业周报：中金中国绿发商业REIT正式获批，保障房REITs表现持续优异
KAIYUAN SECURITIES·2025-06-02 03:23