光大证券研究·2026-03-15 00:03Market Overview - The secondary market for publicly listed REITs in China experienced a continued downward trend, with the CSI REITs closing at 786.17 and the CSI REITs Total Return Index at 1023.15, reflecting weekly returns of -0.46% and -0.43% respectively [4] - Both property and concession REITs saw declines in their secondary market prices, with property REITs returning -0.53% and concession REITs returning -0.18% [4] - Municipal facility REITs showed the highest increase in returns among underlying asset types, with the top three performing asset types being municipal facilities, new infrastructure, and ecological environmental protection [4] Individual REIT Performance - A total of 31 REITs increased in value, 1 remained flat, and 47 decreased in value during the week [4] - The top three REITs by increase in value were Huatai Securities Jiangsu Transportation Control REIT, Southern Runze Technology Data Center REIT, and Huitianfu Jiuzhoutong Pharmaceutical REIT [4] - The total trading volume for public REITs was 2.22 billion yuan, with new infrastructure REITs leading in average daily turnover rate at 0.44% [4] Trading Activity - The top three REITs by trading volume were AVIC Easy Business Warehousing Logistics REIT, Jiashi JD Warehousing Infrastructure REIT, and Huaxia Fund China Resources REIT [5] - The total net inflow from major investors was 9.28 million yuan, indicating increased market trading enthusiasm compared to the previous period [5] - The top three REITs by net inflow were Huaxia Dayuecheng Commercial REIT, Huitianfu Jiuzhoutong Pharmaceutical REIT, and Huaxia Yuexiu Expressway REIT [5] Block Trading - The total amount of block trading reached 924 million yuan, showing an increase from the previous period [5] - There were block trades on five trading days, with the highest single-day block trading amount on March 11, 2026, reaching 278.22 million yuan [5] - The top three REITs by block trading amount were Ping An Ningbo Trading REIT, Huaxia China Resources Commercial REIT, and Zhongjin Hubei Science and Technology Investment Guanggu REIT [5] Primary Market - No new REIT products were listed during the week, but the project status of one existing REIT was updated [6]