公募REITs周度跟踪（2025.08.04-2025.08.08）：交投回落，数据中心REITs上市-20250809

1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints of the Report - REITs approval process has accelerated significantly, with the average approval cycle shortening to 4.6 months. Two data - center REITs listed on Friday and both closed at a +30% limit - up. - The market this week was relatively dull. Affected by the diversion of funds in the equity market, trading weakened. Multiple REITs' restricted shares will face unlocking in the future, which may bring certain selling pressure. - As of August 8, 2025, 14 REITs have been successfully issued this year, with a issuance scale of 27.87 billion yuan, a year - on - year decrease of 4.8%. [1] 3. Summary According to the Directory 3.1 Primary Market - Three new single - issue public REITs made progress this week: Southern Wanguo and Runze Technology Data Center REITs were listed and both hit the daily limit on the first day, and CICC Vipshop Outlets REIT was registered and took effect. One single - expansion REIT, AVIC Jingneng Photovoltaic REIT, was registered and took effect. - Currently, in the approval process, there are 9 single - issue REITs declared, 5 queried and responded, and 1 registered and awaiting listing; for expansion REITs, 9 have been declared, 3 queried and responded, and 3 passed the review. [1][12][13] 3.2 Secondary Market 3.2.1 Market Review - The CSI REITs Total Return Index (932047.CSI) closed at 1097.31 points, a decline of 0.33%, underperforming the CSI 300 by 1.56 percentage points and the CSI Dividend by 2.72 percentage points. The CSI REITs Total Return Index has risen 13.37% since the beginning of the year, outperforming the CSI 300/CSI Dividend by 9.05/12.76 percentage points. - In terms of project attributes, property - type REITs rose 0.76%, while concession - type REITs fell 0.32%. In terms of asset types, environmental protection and water services (+0.22%), warehousing and logistics (+0.14%), and energy (+0.01%) sectors performed well. [1] 3.2.2 Liquidity - The average daily turnover rates of property - type/concession - type REITs this week were 0.83%/0.54%, down 1.76/0.85 basis points from last week. The trading volumes during the week were 657 million/149 million shares, a week - on - week increase of 0.28%/a decrease of 1.56%. Except for the newly listed data - center sector on Friday, the energy sector had the highest activity. [1] 3.2.3 Valuation - From the perspective of ChinaBond valuation yields, the yields of property - type/concession - type REITs were 3.65%/4.40% respectively. The transportation (5.64%), warehousing and logistics (5.13%), and park (4.13%) sectors ranked in the top three. [1] 3.3 This Week's News and Important Announcements - China Three Gorges New Energy (Group) Co., Ltd. plans to issue infrastructure public REITs through its wholly - owned subsidiary's offshore wind power project, with a total installed capacity of 298.8MW, which was fully connected to the grid for power generation in November 2020. - Multiple REITs issued announcements, including the unlocking of strategic placement shares of Hua'an Bailian Consumption REIT, and multiple REITs announced dividends. [30]