（原标题：理财权益布局分化：民生加码量化增强，华夏深耕公募REITs） 近期，权益类公募产品迎来扩容。8月19日，民生理财"金竹量化增强半年持有期1号"起始募集。8月22 日，华夏理财新发跟踪公募REITs指数的"天工日开12号"。两款产品均于8月25日今日结束募集。除这两 款产品外，理财公司目前共存续40只权益类公募产品。 从投资策略来看，民生理财的"金竹量化增强半年持有期1号"抓住了今年来大火的量化指增策略，产品 以中证500指数为业绩基准，在控制行业、风格偏离的基础上，通过量化挖掘有效因子，选出一揽子股 票构建组合，在严格控制跟踪误差的前提下，力争获取超越基准指数的收益。 "展望后市，指数下行风险不大，长期来看市场或能持续贡献正向β。同时，政策呵护下的市场交易活跃 度预期不减，量化行业整体的制度监管与风控管理日益完善，也让我们对α收益的持续性保持乐观。"民 生理财在8月21日发布的公众号文章中表示。 华夏理财新发产品"天工日开12号"跟踪的是中诚信指数和华夏理财共同编制的"中诚信-华夏理财公募 REITs精选指数"。该指数在市场上满足一定上市时间和流动性要求的REITs中，根据多个维度，挑选不 少于20 ...

债 债券周报 券 。 2025-08-24 [ T [Table_Title] 公募 REITs 市场走弱，年内首单交通基础设施公募 REITs 申报获受理 b l 公募 REITs 周报（2025.08.18-2025.08.24） 相关研究报告： [Table_ReportInfo] 《公募 REITs 市场持续下跌，数据 中心公募 REITs 表现亮眼》--2025- 08-16 《公募 REITs 市场震荡下跌，全国 首批数据中心 REITs 成功上市》-- 2025-08-10 《公募 REITs 市场震荡下跌，创金 合信首农产业园 REIT 上市》-- 2025-07-27 证券分析师： [Table_Author] 徐超 截至 2025 年 8 月 22 日，共发行 73 只公募 REITs，发行规模合计 1910 亿元， 2025 年以来共 14 只公募 REITs 完成发行，2025 年 8 月暂未有新发行。此外，共有 23 只公募 REITs 基金待上市。 电话：18311057693 E-MAIL：xuchao @tpyzq.com 分析师登记编号：S1190521050001 证券分析 ...

相关研究 《调整延续，流动性承压——公募 REITs 周度跟踪 （2025.08.11-2025.08.15）》 2025/08/16 《交投回落，数据中心 REITs 上市 ——公募 REITs 周度跟踪 （2025.08.04-2025.08.08）》 2025/08/09 《市值破 2100 亿，消费类领涨—— 公募 REITs 周度跟踪 （2025.07.28-2025.08.01）》 2025/08/02 证券分析师 黄伟平 A0230524110002 huangwp@swsresearch.com 杨雪芳 A0230524120003 yangxf@swsresearch.com 2025 年 08 月 23 日 急跌弱修复，年内首单高速 REIT 获 受理 ——公募 REITs 周度跟踪（2025.08.18-2025.08.22） 研究支持 曹璇 A0230125070001 caoxuan@swsresearch.com 联系人 曹璇 (8621)23297818× caoxuan@swsresearch.com 本研究报告仅通过邮件提供给 中庚基金 使用。1 请务必仔细阅读正文之后的各项 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 一、公募REITs基本信息 ■ 二、基础设施项目基本情况 本基金基础设施项目为长沙览秀城项目，项目类型属于消费基础设施。本基金以获取基础设施项目租金 等稳定现金流为主要目的，通过积极主动运营管理基础设施项目，力求提升基础设施项目的运营收益水 平，实现基础设施项目现金流长期稳健增长。 本基金运营管理机构为金茂商业房地产（上海）有限公司，截至本公告发布日，运营管理机构未发生变 更且运营管理能力稳定。 截至本公告发布日，基础设施项目公司整体运营情况良好，无安全生产事故，未发生重大租约变化。 三、运营管理机构高级管理人员变更情况 本基金管理人于2025年8月20日收到金茂商业房地产（上海）有限公司通知，因工作调整，金茂商业房 地产（上海）有限公司财务负责人由邓晏变更为谭乐磊，运营管理机构已履行完成内部决议。 谭乐磊，男，本科学历，财务管理专业，曾就职于德勤、安永，现任金茂商业房地产（上海）有限公司 财务负责人。 四、对基础设施项目运营情况、经营业绩、现金流和基金份额持有人权益的影响分析 目前本基金运营管理机构经营管理团队稳定，履职正常，本次运营管理机构高级管理人员变动 ...

腾讯财经 . 腾讯新闻旗下腾讯财经官方账号，在这里读懂财经！ 以下文章来源于腾讯财经 ，作者马小、朱可 作者 | 马小 朱可 编辑｜刘鹏 导语： 宜家母公司英格卡正打算卖掉北京、无锡、武汉三地的荟聚购物中心，而且未来还可能清仓 剩余7座荟聚。这家瑞典商业大佬为何要此时退出？ 到 荟 聚 吃喝玩乐购，累了就去旁边的宜家蹭沙发睡觉， 这 是 不 少 年 轻 人 周 末 休 闲 的 方式 之 一 。 拿 位于北京大兴西红门的荟聚 来 说 ， 虽然 位 置 已 在 南 五 环 ， 但 是 凭 借 地 铁 直 达 、 创 吉 尼 斯 纪录 的 7 0 5 0 个 停 车 位 、 紧 邻 宜 家 等 因 素 ， 全 年 客 流 量 超 3 0 0 0 万 人 次 ， 今 年 上 半 年 一度 跃 居 北京购物 商 场 人 气 榜 第 一 。 荟 聚 的 母 公司 是 瑞 典 英 格 卡 集 团 ， 包括 北京 荟 聚 在 内 ， 英 格 卡 自 2 0 0 9 年 起 在 无 锡 、 武 汉 等 城 市 共 投 资 开 业 了 1 0 家 荟 聚 商 场 ， 这 些 商 场 均 成 为 当 地 人气最旺的购物中心之一。 ...

◎记者 聂林浩 8月以来，公募REITs市场走势趋弱，截至8月20日，中证REITs全收益指数下跌近4%，8月11至19日连收 7根阴线。机构认为，近期市场对于大类资产系统性重估的分歧加剧，权益市场走强，债市持续承压， 与债市联动性较强的REITs市场也相应走弱。同时，9月至12月，一批REITs产品的战略配售份额将迎来 解禁潮。 Choice数据显示，8月20日，中证REITs全收益指数结束了此前的七连跌，收盘上涨0.43%，但8月以来的 跌幅达3.95%。 根据相关规定，基础设施项目原始权益人或其同一控制下的关联方参与战略配售的（下称"原始权益人 战配"），其中基金份额发售总量的20%持有期自上市之日起不少于60个月，超过20%部分持有期自上 市之日起不少于36个月；原始权益人战配以外的专业机构投资者（下称"市场化战配"），参与战略配售 的持有份额期限自上市之日起不少于12个月。 据记者统计，从8月数据来看，红土创新深圳人才安居REIT、中金厦门安居REIT和华夏北京保障房 REIT均在2022年8月31日上市，部分原始权益人战配份额即将迎来解禁；华安百联消费REIT和华夏首创 奥莱REIT分别于2024 ...

Group 1 - The core point of the news is the ongoing enthusiasm for public REITs in China, highlighted by the recent application for a new public REIT product by Huaxia Fund, named "Hubei Jiao Investment Chutian Expressway Closed-End Infrastructure Securities Investment Fund" [2][4] - The initiators of the new REIT are Hubei Chutian Intelligent Transportation Co., Ltd. and Hubei Jiao Investment Construction Group Co., Ltd., with the special plan managed by CITIC Securities [4][6] - The underlying assets for the REIT include the toll rights and ancillary facilities of the Hubei section of the Daqing-Guangzhou Expressway, specifically the section from Macheng to Xishui, which spans 147.115 kilometers and has a toll period from April 1, 2009, to June 18, 2039 [5][4] Group 2 - As of August 17, there are 73 public REITs listed in the market, with several products currently awaiting approval, including the Huaxia Jiao Investment Chutian Expressway REIT [6][4] - The public REIT market has experienced fluctuations, with the total market capitalization dropping below 220 billion yuan, despite a year-to-date increase in the indices [10][11] - Analysts suggest that the current low-interest-rate environment presents investment opportunities in the REIT market, emphasizing the importance of focusing on quality projects and the potential for recovery in undervalued assets [11][10]

【导读】又有公募 REITs 新品上报！华夏交投楚天高速公路 REIT 申报 中国基金报记者 王思文 当前公募 REITs 发行热度不减， 8 月 18 日，又有新品申报。 8 月 18 日晚间，上交所官网显示，华夏基金申报了一只新的公募 REITs 产品。申报产品名称为 " 湖北交投楚天高速公路封闭式基础设施 证券投资基金 " （以下简称华夏交投楚天高速公路 REIT ）。 | | REITs | | 首页 项目动态 | 信息披露 | 行情信息 | 新闻动态 | 规则指南 | 业务办理 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 项目动态 | | | | | | | | | | | 华夏湖北交投楚天高速公路封闭式基础设施证券投资基金 | | | | | | | | | 项目基本信息 | | | | | | | | | | 公募REITs名称 | | 华夏湖北交投楚天高速公路封闭式基础设施证券投资基金 | | | | | | | | 品种 | | 基础设施公募REITs | | | | | | | | 发起人(原始权益人) | | 湖 ...

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - From August 11 - 15, 2025, the CSI REITs Total Return Index closed at 1080.91 points, down 1.49% for the week, with a relatively large correction. The total market capitalization of 73 listed REITs was 217.8 billion yuan, down 1.56% from the previous week. The increase in market risk appetite may reduce the allocation enthusiasm of investment institutions for REITs [1][8]. - In the secondary market, except for the data center sector, all other REIT asset types declined. The rental housing sector had the largest decline of 3.22%, and its cash distribution rate rose 9BP to 2.78% after the correction. It is still worth allocating after the bond market stabilizes and the cost - performance of individual bonds improves [1]. - In the primary market, Shenyang International Software Park and CapitaLand Commercial Assets responded to the exchange's opinions on their initial offerings, and Guotai Junan Dongjiu New Economy REIT responded to the exchange's opinions on its expansion [3][43][45]. 3. Summary According to Relevant Catalogs 3.1 Secondary Market 3.1.1 Price: Rental Housing Leads the Decline, with Few Rising Individual Bonds - Except for the data center continuing the new - bond popularity and rising, other asset types of REITs declined. The rental housing sector had the largest decline of 3.22%, becoming the asset with the largest correction since August. After the correction, its cash distribution rate rose to 2.78%. However, attention should be paid to the selling pressure and block trading opportunities of Beijing Affordable Housing, Xiamen Anju, and Shenzhen Anju, whose restricted shares will be lifted at the end of this month [1][15]. - At the individual bond level, only 6 out of 73 REITs rose, and 67 declined. The consumer facilities sector had the smallest decline this week, but only China Resources Commercial of Huaxia was in the green, and other consumer projects had a correction of about 2%. China Resources Commercial, with a market capitalization of over 10 billion yuan, has stable operations and excellent active management capabilities, and is currently promoting two expansions [2][18]. 3.1.2 Liquidity: Trading Activity Continues to Decline - Affected by the high - sentiment in the equity market, the trading activity of REITs continued to decline this week. The average daily trading volume was 496 million yuan, the average daily trading volume was 107 million shares, and the average daily turnover rate was 0.50%, down 16.75%, 19.95%, and 0.13 pct respectively from the previous week [2][26]. - By sector, the sectors with the highest average daily turnover rates this week were energy facilities (0.75%), rental housing (0.66%), and municipal environmental protection (0.61%), but the turnover rates of each sector continued to decline compared with last week [29]. 3.1.3 Valuation: The Overall Decline Leads to an Increase in the Distribution Rate - From the perspective of ChinaBond valuation yields, the energy and transportation infrastructure sectors had the largest changes, rising to 1.48% and 6.03% respectively. The transportation, warehousing and logistics, and industrial park sectors had relatively high valuation yields [38]. - From the perspective of cash distribution rates, the transportation - related projects had the largest change, rising to 9.01%. Affected by the newly listed Huaxia Huadian Clean Energy REIT, the distribution rate of energy - related projects decreased to 7.91%. Among equity - type projects, the industrial park, warehousing, and consumer sectors had relatively high distribution rates, and the average distribution rate of rental housing slightly rose to 2.78% [38]. 3.2 Primary Market 3.2.1 Initial Offerings: Shenyang International Software Park and CapitaLand Commercial Assets Respond to Exchange Opinions - On August 11, CITIC Construction Investment Shenyang International Software Park REIT responded to the exchange's review opinions. The exchange was concerned about issues such as the high proportion of start - up and small - medium - sized enterprises among tenants, the early termination of leases by some top - ten tenants, and the large differences in the occupancy rates of different buildings [43]. - On August 12, Huaxia CapitaLand Commercial Assets REIT responded to the exchange's review opinions. The exchange was concerned about issues such as the pre - emptive right, the incomplete equity restructuring of the two projects, and the project's external borrowing situation [44]. - On August 13, the initial offering inquiry of CICC Vipshop Outlet REIT was completed, with a subscription price of 3.480 yuan per share. The total number of fund shares is 1 billion, and the initial strategic placement, offline initial offering, and public investor initial offering are 700 million, 210 million, and 90 million shares respectively [44]. 3.2.2 Expansion: Guotai Junan Dongjiu New Economy Industrial Park Responds to Exchange Opinions - On August 11, Guotai Junan Dongjiu New Economy REIT responded to the exchange's review opinions. The exchange was concerned about issues such as the concentrated expiration of tenant leases, the project's competitiveness, and the potential impact of future new supplies on the occupancy rate and rent levels [45]. - On August 14, Guotai Junan Lingang Innovation Industrial Park REIT announced that it had received 1.723 billion yuan in funds from its targeted expansion (excluding interest during the fundraising period), equivalent to 388,788,630 fund shares at a price of 4.433 yuan per share [46][47]. 3.2.3 Other Key News This Week - As of August 17, 2025, there are about 7 - 8 potential issuance projects remaining this year, including 1 in the issuance stage, 9 that have received exchange feedback, and 1 that has been accepted by the exchange [44].

Core Viewpoint - Lin Yuan Investment, known for its active presence in the stock market, has made its first foray into the public REITs market by participating in the issuance of the CICC Vipshop Outlet REIT [1][2] Group 1: Lin Yuan Investment's Participation - Lin Yuan Investment has subscribed nearly 80 million yuan in the CICC Vipshop Outlet REIT, marking its first offline subscription in a REIT project [1][2] - The total fund share approved by the China Securities Regulatory Commission for the CICC Vipshop Outlet REIT is 1 billion shares, with 700 million shares allocated for strategic placement and 210 million shares for offline placement [1][2] Group 2: Investor Structure and Market Trends - The public REITs market is increasingly dominated by institutional investors, with 96% of participants being institutions, including banks and insurance funds [4] - New entrants such as trusts, private funds, and small investment institutions are expected to accelerate their participation starting from Q4 2024, adding new dynamics to the market [4] - The involvement of state-owned capital operation platforms in strategic placements is seen as a new force, aiding in the integration of assets across regions and industries [4] Group 3: Market Development and Future Outlook - The CICC Fund indicates that the public REITs market is entering a new phase of regular issuance, with a growing variety of underlying asset types, enhancing the long-term allocation value of public REITs [5] - The development of this market is expected to support national strategies and the real economy, providing investors with richer investment choices and long-term value [5]