REIT策略周报：趋势不改，精做结构-20260111

Group 1 - The report emphasizes that high-quality projects can be acquired at low prices, while projects with higher operational risks should be considered after the disclosure of operational data [3][7]. - The REITs market has entered a favorable development phase characterized by both supply and demand growth, with a focus on quality operational entities to share in market development benefits [3][7]. - As of January 10, preliminary operational data for the second half of the year shows that the industrial park and warehousing sectors are stabilizing, with no significant decline in occupancy rates under the price-for-volume policy [7]. Group 2 - The report highlights that the China REITs total return index increased by 1.89% to 1028.93 during the week from December 31, 2025, to January 9, 2026, with significant gains in new infrastructure and consumer REITs [5][6]. - The performance of various sectors during the past week showed new infrastructure leading with a 4.41% increase, followed by consumer REITs at 3.17%, and industrial parks at 3.16% [5][6]. - The report notes that the REITs market experienced a positive start to the year, contrasting with the poor performance of the bond market, indicating a recovery in previously depressed sectors [6][7].