来源：REITs速达 2025年10月最后一周，上证指数短暂突破4000点，带动REITs板块也随着反弹，截至周五收盘，部分REITs二级 市场价格创1个月以来新高。但需要注意，从二级市场波动而言，部分项目单周波动持续放大（可参考REITs分派 率与溢价率的博弈-走向均衡）。随着三季度业绩的发布，部分REITs业绩表现与二级市场价格的波动不协调性再 次呈现；未来完整年度数据的发布对于处在二级市场价格高位的REITs项目而言挑战将是巨大的。 1、市场回顾 二级市场以中证REITs权益指数计单周微幅上涨0.06%；中证REITs（收盘）指数计单周涨幅达1.45%。 已上市76支REITs单周涨幅超过2%的有14个；下跌幅度超过2%的有8个，最大单周跌幅超过7%。其中，2025年10 月31日周五"华夏合肥高新REIT"单日下跌幅度超过5.47%，成交金额达到4,303.67万元，无论是单日波动幅度还 是单日成交量创下2个月以来的新高。上一次单日成交量峰值在2025年7月3日，单日成交量达到6,705.1万元，此 后市场行情维持了短暂平衡后持续下行（区间具体波动可见下图）。 2、风格转变 2025年10月31日首发 ...

Group 1 - The REITs market experienced a V-shaped trend over the past week, with most sectors achieving profitability, while the consumer sector underperformed, possibly due to concentrated unlocking expectations [5][9]. - After a round of adjustments, the REITs distribution rate and IRR indicators showed slight recovery, with market sentiment remaining relatively strong in the first half of the week [9]. - The overall market trend since the end of 2024 has been driven by a decline in the asset denominator, leading to a comparative advantage, while support from the numerator remains limited [9]. Group 2 - In the past week (February 28 to March 7, 2025), five REITs updated their issuance status, with a total of 63 REITs listed in the domestic market, having a total market capitalization of 179.8 billion yuan and a circulating market value of 78.6 billion yuan [7][8]. - The REITs index overall declined, with the operating rights REITs performing relatively well. Specifically, the CSI REITs (closing) and CSI REITs (total return) changed by 1.14% and 1.19%, respectively [8]. - The trading volume of the REITs market decreased marginally, with the weekly trading volume dropping to 3.665 billion yuan. The average turnover rates for rental housing and energy REITs were relatively high at 1.75% and 1.54%, respectively [22].