公募REITs周度跟踪：润泽数据中心REIT宣布扩募-20260223

1. Report Industry Investment Rating No information provided in the given content. 2. Core Viewpoints of the Report - Commercial real - estate REITs application projects have increased to 12. The REITs market continued its downward trend on 2/9, then stabilized and rebounded on 2/10, with data centers and consumer sectors leading the gains. Two new commercial real - estate REITs projects were added, and the total planned fundraising scale of commercial real - estate REITs has reached 41.7 billion yuan. Southern Runze Technology Data Center REIT announced an expansion plan [3]. - As of 2026/2/20, 20 REITs have been successfully issued since 2025, with a total issuance scale of 40.3 billion yuan. Four new first - issue public REITs made progress this week [3]. - This week, the CSI REITs Total Return Index (932047.CSI) closed at 1047.08 points, up 0.41%, outperforming the CSI 300 by 0.05 percentage points and the CSI Dividend by 0.46 percentage points. The CSI REITs Total Return Index has risen 3.69% since the beginning of the year, outperforming the CSI 300 by 3.03 percentage points and the CSI Dividend by 0.70 percentage points [3]. 3. Summary According to the Directory 3.1 First - level Market: Four First - issue Public REITs Made New Progress - Since 2025, 20 REITs have been successfully issued (6 in Q1 2025, 4 in Q2 2025, 6 in Q3 2025, 2 in October, 1 in November, and 1 in December), with a total issuance scale of 40.3 billion yuan [3]. - This week, four first - issue public REITs made new progress. Two new commercial real - estate REITs, CITIC Construction First Agricultural Commercial Real - estate REIT and Guotai Haitong Chongbang Commercial Real - estate REIT, have been declared and accepted. Huatai Three Gorges Clean Energy REIT has been queried, and AVIC Beijing Changbao Rental Housing REIT has received feedback. Currently, there are 27 first - issue REITs declared, 1 queried and feedback received, 0 approved, and 0 registered and awaiting listing; for expansion, 4 have been declared, 0 queried and feedback received, and 0 approved [3]. 3.2 Second - level Market: The Index Rose This Week 3.2.1 Market Review: The CSI REITs Total Return Index Rose 0.41% - The CSI REITs Total Return Index closed at 1047.08 points this week, up 0.41%, outperforming the CSI 300 by 0.05 percentage points and the CSI Dividend by 0.46 percentage points. Since the beginning of the year, it has risen 3.69%, outperforming the CSI 300 by 3.03 percentage points and the CSI Dividend by 0.70 percentage points [3]. - By project attribute, equity - type REITs rose 0.74% this week, and franchise - type REITs rose 0.32%. By asset type, data centers (+1.36%), consumer (+1.31%), warehousing and logistics (+0.50%), and transportation (+0.49%) sectors performed well. Among individual bonds, 60 rose and 19 fell. ICBC Inner Mongolia Energy Clean Energy REIT (+3.47%), BOC Sino - Sinotrans Warehousing and Logistics REIT (+3.11%), and Huatai Nanjing Jianye REIT (+3.00%) led the gains, while Hua'an Waigaoqiao REIT (-2.86%), Huaxia Jinyu Zhizao Gongchang REIT (-1.48%), and Huaxia JINMAO Commercial REIT (-1.38%) were at the bottom [3]. 3.2.2 Liquidity: Both Turnover Rate and Trading Volume Decreased - The average daily turnover rates of equity - type/franchise - type REITs this week were 0.34%/0.31%, down 16.31/5.97 BP from last week. The trading volumes during the week were 363 million shares/103 million shares, down 32.36%/16.25% week - on - week. The data center sector was the most active [3]. 3.2.3 Valuation: The Valuation of the Affordable Housing Sector is Relatively High - According to the ChinaBond valuation yield, the yields of equity - type/franchise - type REITs are 3.73%/4.77% respectively. The transportation (5.84%), warehousing and logistics (5.35%), and park (4.49%) sectors rank among the top three [3]. 3.3 This Week's News and Important Announcements - This Week's News: - On 2026/2/9, New Town Holdings plans to issue REIT - like products using assets worth 8 billion yuan this year. - On 2026/2/10, the Shenzhen Stock Exchange is actively promoting public REITs to help Guangdong revitalize its stock assets. - On 2026/2/12, AVIC Fund announced the name change of AVIC Jingneng Photovoltaic REIT. - On 2026/2/12, Tianjin held a special promotion meeting for commercial real - estate REITs. - On 2026/2/13, the third - largest holder of China Merchants Science and Technology REIT reduced its shareholding to 10% [31]. - Important Announcements: - The strategic placement shares of several REITs, including Huitianfu Jiuzhoutong Pharmaceutical REIT, Guotai Haitong Jinan Energy Heating REIT, etc., will be lifted from restrictions. - The operating data of E Fund Shenzhen Expressway REIT in January 2026 showed a year - on - year decrease in daily toll traffic and toll revenue. - Southern Runze Technology Data Center REIT announced an expansion plan [31].