Core Insights - The public REITs market has recently seen significant activity with the listing of two data center-focused REITs on August 8, both achieving a 30% limit-up on their first trading day, injecting new vitality into the market [1] - Since the inception of public REITs, the overall performance has been impressive, with an average return of nearly 35%, and 17 products exceeding 50% returns, showcasing strong profit potential [1] - Despite high demand for public REITs, the total market size has just surpassed 2 trillion yuan, indicating a supply shortage that limits the ability to meet large-scale capital allocation needs [1] Market Performance - A total of 15 public REITs have hit the limit-up on their first trading day, representing 20.55% of the 73 public REITs listed [1] - The two newly listed data center REITs, Southern Runze Technology Data Center REIT and Southern Wanguo Data Center REIT, had subscription multiples of 317.96 times and 454.96 times, respectively, reflecting strong investor interest in these scarce assets [4] Product Differentiation - The performance of public REITs is not uniform, with some products showing cumulative gains of less than 20% and eight products experiencing negative returns, with the largest loss exceeding 30% [5] - This differentiation is closely linked to operational data and financial metrics, where stable operations and good financial indicators attract more market funds [5] Recommendations for Market Improvement - Experts suggest increasing the supply of quality assets to alleviate the supply-demand imbalance and reduce liquidity risks associated with concentrated investor preferences [5] - Recommendations include gradually relaxing restrictions on investment institutions and Pre-REITs funds as original equity holders to enhance market supply diversity and flexibility [5] Future Development - The future development of the public REITs market requires collaborative efforts to increase the supply of quality assets, improve market mechanisms, and enhance investor risk awareness for sustainable growth [6]