公募REITs行业周报：两商业不动产REITs申报，中核能源REIT表现亮眼

Investment Rating - The report does not provide a specific investment rating for the REITs industry [1] Core Insights - The REITs index experienced a decline of 0.91% this week, while the Shanghai and Shenzhen 300 index fell by 1.33% [4][14] - The total market capitalization of the REITs industry is approximately 227.28 billion yuan, with a circulating market value of about 123.93 billion yuan [1] - The correlation of REITs with various indices since their listing includes 0.24 with ten-year government bonds, 0.09 with one-year government bonds, and 0.64 with convertible bonds [4][14] - Notable events include the listing of the China Nuclear Clean Energy REIT and the application for commercial real estate REITs by Huatai and Everbright [6][11] Market Performance - The trading volume for the week was 2.68 billion yuan, representing a decrease of 8.6%, with an average daily turnover rate of 0.4% [40] - The trading amounts for various sectors included 4.9 billion yuan for highways (-9.9%), 1.0 billion yuan for ecological protection (-30.8%), and 5.2 billion yuan for clean energy (+48.6%) [40] - The performance of individual REITs showed that 17 increased, 1 remained stable, and 61 decreased, with the largest increase being 26.80% for China Nuclear Energy [18] Project Approval Progress - Recent approvals include the application for commercial real estate REITs by Huatai and Everbright, and the listing of the China Nuclear Clean Energy REIT [11][12] Valuation Situation - The estimated yield for bonds ranged from -0.59% to 11.03%, with the highest yield for Ping An Guangzhou Guanghe at 11.03% [42] - The P/NAV ratio for the REITs is between 0.72 and 1.84, with the highest being 1.84 for Jiashi Wumei Consumption [42]