公募REITs周速览：开年放量上涨

1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints of the Report - In the first week of 2026 (January 5 - 9), the China Securities REITs Total Return Index closed at 1028.93 points, rising 1.89% weekly, with the market volume increasing and prices rising. The total market capitalization of 78 listed REITs reached 223.3 billion yuan, a 2.23% increase from the previous period, and the tradable market capitalization was 123 billion yuan [1][12]. - In the secondary market, various assets generally rose, and trading activity significantly increased. Except for the rental housing sector, the other sectors had a growth rate of 1.4 - 4.4%. The leading sectors in terms of growth were new - type facilities (+4.41%), consumer facilities (+3.15%), and industrial parks (+3.14%) [2][20]. - In the primary market, on January 9, 2026, the Shenzhen Stock Exchange officially accepted the application for the China Aviation Beijing Changbao Rental Housing REIT [6][49]. 3. Summary by Relevant Catalogs 3.1 Secondary Market: General Rise of Various Assets and Significant Increase in Trading Activity - Overall Market Performance: The China Securities REITs Total Return Index rose 1.89% weekly, and the average daily trading volume and turnover from Monday to Friday increased by 75.45% and 69.73% respectively compared to the previous period [1][12]. - Sector - by - Sector Performance - Data Center (IDC) Sector: Runze Technology Data Center and万国 Data Center rose 5.29% and 2.80% respectively. Runze Technology's average daily turnover rate increased by 0.38pct to 1%. The dynamic distribution rates of two IDC REITs dropped to 3.63% and 3.32% respectively, and attention could be paid to subsequent asset fluctuations [2][23]. - Consumer Infrastructure Sector: All individual bonds in this sector rose. With high occupancy rates and slightly rising rental prices, and approaching traditional consumer peak seasons like the Spring Festival, the fundamentals of consumer REITs are expected to perform well. However, it should be noted that 41.32% of the shares of E Fund Huawai Market REIT will be unlocked on January 24, 2026 [3][25]. - Industrial Park Sector: The sector rose 3.14% this week, with all individual bonds rising. Although some parks faced issues such as tenant exits or reduced rental areas, they stabilized occupancy rates through price - for - volume strategies. The average distribution rate of industrial parks is 4.60%, significantly higher than other rental - type REITs and the reference value of 3.30%. Attention could be paid to parks with stable fundamentals, income distribution adjustment mechanisms, and high distribution rates [3][28]. - Rental Housing Sector: The sector had mixed performance this week, with 5 rising and 3 falling. China Resources Youchao's expansion shares are about to be listed, and its current individual bond distribution rate of 3.35% is still among the top in the sector and can be continuously monitored [4][34]. - Warehousing and Logistics Sector: The sector rose 2.23% this week. There were significant differences in the performance of sub - markets. Some projects faced supply shocks, which might lead to a decline in rental income and dividend - paying ability [4][37]. 3.2 Primary Market: Shenzhen Stock Exchange Accepts China Aviation Beijing Changbao Rental Housing REIT - On January 9, 2026, the Shenzhen Stock Exchange officially accepted the application for the China Aviation Beijing Changbao Rental Housing REIT. The project plans to hold assets in Yilan Xinchen, Guorui Xiyuan, and Future Rongshang Jiayuan in Changping District, Beijing. As of September 30, 2025, the occupancy rates of these projects were 96.24%, 96.20%, and 58.86% respectively, with an estimated total value of 847 million yuan [6][49][51]. - As of January 9, 2026, there was 1 project issued but not yet listed, 11 projects with feedback, and 4 projects accepted by the exchange [7][52].