Core Insights - The public REITs market has seen a surge in demand, with multiple funds selling out in a single day, indicating strong investor interest [1][2] Group 1: Fund Performance - On October 14, the 华夏中海商业REIT announced that its public offering was sold out in one day, with effective subscriptions reaching approximately 201.9 billion shares, translating to a pre-allocation fundraising scale of about 1066.21 billion yuan [1] - The public offering for 华夏中海商业REIT saw a subscription rate of 361.9 times the initial offering, with a pre-allocation fundraising scale of approximately 516 billion yuan [1] - Similarly, 中信建投沈阳国际软件园REIT also ended its public offering early due to exceeding the initial fundraising limit, with effective subscriptions amounting to approximately 444.34 billion yuan [2] Group 2: New Developments in REITs - The 易方达广西北投高速公路REIT has been officially submitted for approval, marking the first public REIT project from Guangxi to be submitted to the exchange [2] - 华夏基金 has received approval from the China Securities Regulatory Commission for its application to change the registration of the 华夏华润商业资产封闭式基础设施证券投资基金, which aims to acquire three projects located in Hangzhou, Shenyang, and Zibo [3] Group 3: Policy Support - The National Development and Reform Commission has issued a notice to enhance the regular application and recommendation process for infrastructure REITs, aiming to simplify the approval process for new projects [4] - The expansion mechanism is expected to provide more quality financial products for small and medium investors, contributing to the formation of a scale effect in the market [4] - Increased policy support for expansion is anticipated to lead to more infrastructure REITs focusing on transportation, energy, logistics, and rental housing, potentially creating a nationally influential capital operation platform [4]

Group 1 - The total market value of public REITs has surpassed 202 billion yuan, with the Shanghai Stock Exchange accounting for 67% of this value [1] - As of June 6, 2023, there are 44 REITs products listed on the Shanghai Stock Exchange, doubling the number from the end of 2023, with a fundraising scale of 121.6 billion yuan [1] - Various asset types are expanding, including the first public REITs in consumption, cross-sea bridges, and municipal projects [2] Group 2 - In the secondary market, 64 out of 66 public REITs have seen price increases, with 28 of them rising over 20% [2] - The Shanghai Stock Exchange has reported a 35% year-on-year increase in revenue for 33 REITs that disclosed their 2024 annual reports, totaling 8.5 billion yuan [2] - The Shanghai Stock Exchange is actively promoting the expansion mechanism, with several projects undergoing expansion announcements in 2024 [2]