公募REITs周速览（2026年2月2-6日）：商业不动产或冲击消费REITs

1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoints of the Report - The China Securities REITs Total Return Index closed at 1042.83 points this week, down 0.91% week - on - week. The average daily trading volume, average daily turnover, and average daily turnover rate decreased by 16.39%, 18.49%, and 0.10 pct respectively, indicating a market decline with shrinking trading volume. The listing of Huaxia Zhonghe Clean Energy REIT on February 2, 2026, with a first - day closing increase of 28.16%, is expected to boost the attention of primary issuance and subscription [1][12]. - Two new commercial real estate REITs were accepted this week. The total planned fundraising scale of the 10 commercial real estate REITs under review has reached 37.7 billion yuan. The market is worried about the supply shock of commercial real estate REITs, and the current distribution rate of listed consumer facility REITs is lower than that of commercial real estate REITs under review, which may limit the upward space of listed consumer facility REITs [2][7]. - All asset sectors in the secondary market declined this week, with the consumer facilities sector having the largest decline of 1.74% and the energy facilities sector having the smallest decline of 0.27%. 3. Summary by Relevant Catalogs 3.1 Primary Market - Two new commercial real estate REITs were accepted this week. Everbright Prudential Everbright Anshi REIT, to be listed on the Shanghai Stock Exchange, has two shopping malls as underlying assets and plans to raise 4.905 billion yuan. Huatai Zijin Huazhu Anzhu REIT, the first commercial real estate REIT on the Shenzhen Stock Exchange, has hotel projects as underlying assets and plans to raise 1.32 billion yuan [2][18]. - Among the 10 commercial real estate REITs under review, there are two hotel - type REITs. The Huazhu project has better location, occupancy, and room rates than the Jinjiang project but is restricted by the "trading price for volume" strategy. The Jinjiang project has a certain risk - diversification effect due to a large number of hotels in different regions [3][23]. - As of February 6, 2026, 10 infrastructure REITs projects are in the inquiry and feedback stage, and 1 project has been accepted [4][24]. 3.2 Secondary Market - All asset sectors declined this week, with the consumer facilities sector having the largest decline, followed by new - type facilities and rental housing, and the energy facilities sector having the smallest decline [25]. - The IDC sector continued to decline this week. Benefiting from the strong demand in the AI computing power sector, the future operating demand of the projects is sustainable, and attention can be paid to opportunities brought by subsequent asset fluctuations [5][27]. - The energy facilities sector had the smallest decline. It is recommended to focus on natural gas power generation, hydropower assets with high stability, or projects with a high guarantee of distributable amounts [6][30]. - The consumer infrastructure sector had the largest decline. After this adjustment, attention can still be paid to consumer facility REITs with high distribution rates, such as Hua'an Bailian Consumption, Jiashi Wumei Consumption, and CICC Yinli Consumption [6][33]. - The industrial park sector had few rising bonds. It is recommended to pay attention to park REITs with stable fundamentals, income distribution adjustment mechanisms, and high distribution rates [37]. - The REITs trading sentiment weakened this week, with the average daily trading volume, average daily turnover, and average daily turnover rate decreasing. The consumer infrastructure sector was actively traded, while the turnover rates of other asset sectors declined [41][45].