行业周报：环保REITs单月表现优异，发行市场保持活跃-20250713

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The REITs market is expected to continue to offer good investment opportunities due to the downward pressure on bond market interest rates, the "asset shortage" logic, and the anticipated inflow of social security and pension funds [5][7][39] Market Overview - As of the 28th week of 2025, the CSI REITs (closing) index was 876.64, up 10.89% year-on-year but down 1.12% month-on-month. The CSI REITs total return index was 1103.87, up 18.76% year-on-year and down 1.12% month-on-month [5][18][22] - The trading volume of the REITs market reached 601 million units, a year-on-year increase of 29.25%, while the trading amount was 2.751 billion yuan, up 47.67% year-on-year [5][29][31] Sector Performance - Weekly and monthly performance of various REITs sectors showed fluctuations, with the following weekly changes: affordable housing -3.11%, environmental -0.41%, expressways -1.16%, industrial parks -1.78%, warehousing and logistics -0.12%, energy -0.43%, and consumer -1.48%. Monthly changes were: affordable housing -0.01%, environmental +2.40%, expressways -2.78%, industrial parks -1.34%, warehousing and logistics +0.61%, energy +0.73%, and consumer -0.48% [39][54] Upcoming REITs - Two REITs are set to launch subscriptions: Huaxia Huadian Clean Energy REIT with a total fundraising target of 1.8945 billion yuan and Chuangjin Hexin Shounong REIT with a subscription price of 3.685 yuan per share [6][14][15] - The Penghua Qianhai Vanke REIT will transition to a listed open-end fund (LOF) on July 8, 2025, marking a significant development in the public REITs market [15][16]