公募REITs周度跟踪（2026.02.23-2026.02.27）：6单商业不动产REITs进入问询-20260228

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The report is a weekly tracking of public REITs from February 23 - 27, 2026. It covers the progress of new REITs in the primary market, the performance of REITs in the secondary market, and important news and announcements of the week. The primary market has 10 new first - issue public REITs making progress, and the secondary market shows that the CSI REITs Total Return Index closed down this week. [3] 3. Summary According to the Directory 3.1 Primary Market: 10 First - issue Public REITs Made New Progress - As of February 27, 2026, 20 REITs have been successfully issued since 2025, with a total issuance scale of 40.3 billion yuan. This week, 10 first - issue public REITs made new progress, including 2 new commercial real - estate REITs and 2 new infrastructure REITs. Six commercial real - estate REITs from the first batch of applications have entered the exchange inquiry stage. One expansion - offering REIT, CICC Xiamen Anju REIT, has received feedback. [3] - The table shows details of 23 first - issue REITs, including their project types, application types, project statuses, update dates, and application dates. [14] 3.2 Secondary Market: The Index Closed Down This Week 3.2.1 Market Review: The CSI REITs Total Return Index Fell by 1.08% - This week, the CSI REITs Total Return Index (932047.CSI) closed at 1035.78 points, a decline of 1.08%, underperforming the CSI 300 by 2.16 percentage points and the CSI Dividend by 3.88 percentage points. The year - to - date increase of the CSI REITs Total Return Index is 2.57%, outperforming the CSI 300 by 0.83 percentage points but underperforming the CSI Dividend by 3.29 percentage points. By project attribute, equity - type REITs fell by 1.45% and franchise - type REITs fell by 0.07%. By asset type, the data center (+2.02%), transportation (+0.11%), warehousing and logistics (-0.51%), and energy (-0.83%) sectors performed well. Among individual bonds, 17 rose and 62 fell this week. [3] 3.2.2 Liquidity: The Turnover Rate and Trading Volume of Equity - type REITs Increased - The average daily turnover rates of equity - type/franchise - type REITs this week were 0.38%/0.28%, an increase/decrease of 3.87/-3.22 BP compared to last week. The trading volumes during the week were 325 million/74 million shares, a week - on - week increase/decrease of 5.55%/-15.99%. The data center sector was the most active. [3] 3.2.3 Valuation: The Valuation of the Affordable Housing Sector is Relatively High - From the perspective of ChinaBond valuation yields, the yields of equity - type/franchise - type REITs are 3.85%/4.82% respectively. The transportation (5.85%), warehousing and logistics (5.41%), and park (4.66%) sectors rank among the top three. [3] 3.3 This Week's Important News and Announcements 3.3.1 Important News - On February 24, 2026, the winning bid for Hubei Cultural Tourism Group's public REITs project was announced. The candidate financial advisor is Guotai Junan Securities, with a bid of 5 million yuan, and the candidate public fund manager and plan manager is AVIC Fund Management Co., Ltd., with a fee rate of 0.2%. - On February 25, 2026, the Suzhou government's work report pointed out that it will seize the opportunity of the expansion of infrastructure REITs and promote the listing of a number of high - quality projects such as industrial parks, commercial office facilities, and clean energy. - On February 25, 2026, Hong Kong's Financial Secretary Paul Chan Mo - po announced in the 2026 - 2027 government budget that the government and the Hong Kong Securities and Futures Commission will strive to include REITs in the inter - connectivity mechanism as soon as possible and plan to submit a bill for amendment this year to facilitate the privatization or restructuring of REITs. [32] 3.3.2 Important Announcements - There are multiple announcements, including the lifting of the lock - up period for strategic placement shares of several REITs and the release of operation data for some REITs in January 2026, such as daily toll - paying traffic volume and toll revenue. [33][35]