数据显示，截至9月30日，今年以来已有超2900只基金（不同份额分开计算）合计分红1830.47亿元。其 中，股票型基金的分红总额是去年同期近3倍，ETF占据大额分红榜单前列位置。混合型基金的分红总 额也是去年同期的1.7倍。此外，公募REITs分红最为积极，已有62只公募REITs今年以来实施分红。 今年以来分红超1800亿元 Wind数据显示，截至9月30日，今年以来共有超2900只基金合计分红5404次，分红总额达1830.47亿元。 与去年同期1415.29亿元的分红总额相比增长近30%。 从分红金额来看，分红金额较高的基金多为ETF。截至9月30日，位居今年以来分红总额前四位的均为 沪深300ETF，华泰柏瑞基金旗下的沪深300ETF今年以来分红83.94亿元，易方达基金旗下的沪深 300ETF分红55.58亿元，华夏基金旗下的沪深300ETF分红55.54亿元，嘉实基金旗下的沪深300ETF分红 总额也达到24.35亿元。今年以来分红总额超10亿元的12只基金中，有6只为ETF。还有29只基金今年以 来分红在5亿元—10亿元之间。 ● 本报记者 张凌之 今年以来公募基金已累计派出超1800亿元的大 ...

证券之星消息，9月17日发布《平安基金管理有限公司关于平安宁波交投杭州湾跨海大桥封闭式基础设 施证券投资基金分红的公告》。本次分红为2025年度的第2次分红。公告显示，本次分红的收益分配基 准日为6月6日，详细分红方案如下： | 分级基金筒称 | 代码 | 墓准日墓金净值 分红方案 | | --- | --- | --- | | | | (元) (元/10份) | | 平安宁波交投REIT(基金场内简称：甬交R 508036 | | 3.40 | | EIT; 扩位简称：平安宁波交投REIT) | | | 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 本次分红对象为权益登记日在本基金登记机构登记在册的本基金份额持有人，权益登记日为9月19日， 现金红利发放日为9月25日。本基金收益分配方式为现金分红，不支持红利再投资根据财政部、国家税 务总局相关规定，基金向投资者分配的基金收益，暂免征收所得税。本次分红免收分红手续费 ...

Core Points - Ping An Ningbo Jiaotou REIT has received approval from the China Securities Regulatory Commission, marking it as the first public REIT for a cross-sea bridge in the country and the first public REIT in Ningbo [1][2] - The underlying asset of the REIT is the Hangzhou Bay Cross-Sea Bridge, which is 36 kilometers long and was the world's longest cross-sea bridge upon completion in 2008, serving as a vital economic link in the Yangtze River Delta [2] - The bridge has shown stable operational performance, with toll revenue increasing from 92.22 million yuan in 2009 to 219.548 million yuan in 2023, reflecting a compound annual growth rate of 6.4% [2] - The approval of Ping An Ningbo Jiaotou REIT contributes to the high-quality development of infrastructure in Ningbo and enriches the asset types available in China's public REIT market [2] Company Insights - Ping An Securities emphasizes a customer-centric approach, offering a comprehensive range of financing products tailored to meet the lifecycle needs of clients, while maintaining a leading position in debt issuance [3] - From 2023 to October 2024, Ping An Securities has provided 520.3 billion yuan in direct financing to support the high-quality development of the real economy [3] - Ping An Fund has been actively involved in asset securitization, achieving significant results, including the listing of Ping An Guangzhou Guanghe REIT, which has distributed over 1.704 billion yuan in dividends to investors since its launch [3]

Core Insights - The public REITs market has seen a significant price increase, with the total market capitalization surpassing 200 billion yuan for the first time, reaching 2019.9 billion yuan as of June 5 [2][8] - The market indices, including the CSI REITs closing index and the CSI REITs total return index, have shown year-on-year increases of 10.7% and 18.05% respectively [2] - The performance of different asset types indicates that transportation infrastructure and municipal water conservancy REITs have outperformed others [1][2] Market Performance - As of June 6, the CSI REITs total return index rose by 1.58%, while the closing index increased by 1.55% [1] - The REITs total index outperformed the CSI 300 index by 0.69 percentage points and the CSI All Bond Index by 1.41 percentage points, but underperformed the Nanhua Commodity Index by 0.24 percentage points [1] - Among the 66 listed REITs, 54 experienced a week-on-week increase, with the top three performers being highway REITs: China Merchants Highway REIT (+7.96%), Huatai Jiangsu Expressway REIT (+5.90%), and Ping An Ningbo Traffic REIT (+5.84%) [3][1] Asset Type Performance - The property-type REITs saw a 0.9% increase, while operating rights-type REITs rose by 3.2% [2] - The total return indices for various sectors showed significant gains, particularly in highways (+3.34%), municipal environmental protection (+1.67%), and consumption (+1.38%) [2] Trading Activity - The trading volume for public REITs reached 20.9 billion yuan last week, with water conservancy REITs leading in average turnover rates [6] - The top three REITs by trading volume were Huaxia Hefei High-tech REIT, Bosera Shekou Industrial Park REIT, and Huaxia China Communications Construction REIT [6] Policy and Regulatory Developments - Recent policy developments include a notification from the Shanghai Development and Reform Commission aimed at enhancing project reserves and promoting the quality and expansion of infrastructure REITs [8] - Four new projects submitted feedback to regulatory inquiries, with all experiencing valuation adjustments [8][9] - Notable valuation adjustments included a 7.1% decrease for Chuangjin Hexin Shifang Industrial Park REIT and an 11.4% decrease for Nanfang Runze Technology Data Center REIT [9]

Report Industry Investment Rating No relevant content provided. Core Viewpoints - This week, the China Securities REITs Index closed up, and the total market capitalization of REITs exceeded 200 billion yuan. Three public REITs made new progress, and the public REITs market continued to expand [1]. - This week, the performance of concession - based REITs was stronger than that of property - based REITs. The average weekly price changes of property - based REITs and concession - based REITs were +0.9% and +3.0% respectively [1][3][18]. - In terms of the comparison of weekly price changes of major indices, China Securities REITs > China Securities Convertible Bonds > CSI 300 > China Securities All - Bond. The average daily turnover rate of REITs throughout the week increased slightly compared with the previous week [1]. - All types of REITs in the entire market closed up, with energy, transportation, and consumer REITs having the largest increases [1][3][18]. - As of June 6, the average annualized cash distribution rate of public REITs was 5.8%, higher than the current static yields of mainstream fixed - income assets. Currently, the dividend yield of property - based REITs was 315 BP lower than the average dividend yield of CSI Dividend stocks, and the spread between the average internal rate of return of concession - based REITs and the 10 - year Treasury bond yield was 167 BP [1][29]. Summary by Related Catalogs Market Trends Secondary Market Trends - As of June 6, 2025, the closing price of the China Securities REITs (closing) Index was 881.85 points, with a weekly price change of +1.6%, outperforming the China Securities Convertible Bonds Index (+1.1%), the CSI 300 Index (+0.9%), and the China Securities All - Bond Index (+0.2%). Since the beginning of the year, the price change rankings of major indices were: China Securities REITs (+11.7%) > China Securities Convertible Bonds (+4.7%) > China Securities All - Bond (+0.7%) > CSI 300 (-1.5%) [2][8]. - As of June 6, 2025, the one - year return rate of the China Securities REITs Index was 11.1%, and the volatility was 7.0%. The return rate was higher than those of the CSI 300 Index, the China Securities Convertible Bonds Index, and the China Securities All - Bond Index; the volatility was lower than those of the CSI 300 Index and the China Securities Convertible Bonds Index, but higher than that of the China Securities All - Bond Index. The total market capitalization of REITs rose to 202.1 billion yuan on June 6, an increase of 3.9 billion yuan from the previous week; the average daily turnover rate throughout the week was 0.60%, an increase of 0.04 percentage points from the previous week [2][13]. - Energy, transportation, and consumer REITs led the gains. From the perspective of different project attributes, the average weekly price changes of property - based REITs and concession - based REITs were +0.9% and +3.0% respectively. From the perspective of different project types, all types of REITs closed up, with the three project types with the largest average increases being energy (3.7%), transportation (3.5%), and consumer (2.4%). The top three REITs in terms of weekly price increases were China Merchants Expressway REIT (+7.96%), Huatai Jiangsu Expressway REIT (+5.90%), and Ping An Ningbo Expressway REIT (+5.84%) [3][18][22]. - Water conservancy REITs had the highest trading activity. In terms of different project types, water conservancy facilities were the most actively traded this week, and transportation infrastructure had the highest proportion of trading volume. The former had an average daily turnover rate of 1.0% during the period, and its trading volume accounted for 1.6% of the total REITs trading volume. The latter had an average daily turnover rate of 0.7% during the period, and its trading volume accounted for 34.3% of the total REITs trading volume. In terms of the capital flow of different REIT products this week, the top three in terms of net inflow of main funds were Ping An Guangzhou Expressway REIT (8.32 million yuan), China Merchants Huaxia Expressway REIT (7.44 million yuan), and Huaxia Hefei High - tech REIT (5.39 million yuan) [3][24]. Primary Market Issuance - As of June 6, 2025, there was 1 REIT product in the declared stage, 1 in the questioned stage, 2 in the accepted stage, 7 in the feedback stage, 5 passed and awaiting listing, and 3 first - issued products that had passed and were listed on the exchange [26]. Valuation Tracking - REITs have both bond and equity characteristics. From the bond perspective, under the constraint of mandatory high dividends, the annualized cash distribution rate is focused on. As of June 6, the average annualized cash distribution rate of public REITs was 5.8%, significantly higher than the current static yields of mainstream fixed - income assets [28]. - From the equity perspective, the relative net asset value premium rate, IRR, and P/FFO are used to judge the valuation of REITs. The relative net asset value premium/discount rate = closing price / latest net value - 1, reflecting the relationship between the market value and fair value of the fund, similar to the PB indicator of stocks; IRR is the internal rate of return calculated using the discounted cash flow method; P/FFO is the current price / cash flow generated from operations. The relative net asset value premium/discount rate is a long - term perspective, evaluating the secondary - market valuation level from the valuation of underlying assets; P/FFO is a short - term perspective, valuing the distributable cash flow from the recent operating conditions of assets and judging the current investment return rate [28]. - There are obvious differences between property - based REITs and concession - based REITs in terms of asset rights, sources of income, term characteristics, and risk characteristics. For property - based REITs, the focus is on the dividend yield, while for concession - based REITs, the focus is on the internal rate of return. As of June 6, 2025, the dividend yield of property - based REITs was 315 BP lower than the average dividend yield of CSI Dividend stocks, and the spread between the average internal rate of return of concession - based REITs and the 10 - year Treasury bond yield was 167 BP [29]. Industry News - On May 30, BOC Sinotrans Warehouse Logistics REIT was registered. Its first - issue assets focus on important logistics nodes in the Yangtze River Delta, Beijing - Tianjin - Hebei, and Sichuan - Chongqing regions, with strong regional logistics demand, a stable customer base, and cargo throughput. The first - issue infrastructure assets to be invested in total 6, with a total construction area of 305,400 square meters, a leasable area of 299,700 square meters, and a leased area of 286,500 square meters, with a rental rate of 95.59%. As of December 31, 2024, the project's income - based valuation was 1.097 billion yuan [35]. - On May 30, the expansion of Guotai Junan Lingang Industrial Park REIT was officially approved by the CSRC. The underlying assets of the expansion project are the Caohejing Science and Technology Oasis Kangqiao Park in the southern part of Zhangjiang Science City, with a construction area of about 182,400 square meters and a leasable area of 104,600 square meters. The project is valued at 1.532 billion yuan [35]. - On June 3, the Shanghai Development and Reform Commission issued the "Notice on Further Strengthening Project Reserve and Promotion to Promote the Quality Improvement and Expansion of Infrastructure REITs in the City", establishing a dynamic reserve library of "willing to promote all", focusing on key infrastructure areas, sorting out high - quality assets with clear ownership, stable returns, and market - oriented operation capabilities, strengthening pre - cultivation, simplifying the evaluation process for expansion projects of the same sponsor, optimizing project review and recommendation, improving the efficiency of declaration and issuance, and enriching the supply of issuable assets [35]. - On June 3, Southern WanGuo Data REIT and Southern Runze Technology REIT completed the exchange feedback responses, adjusted the assessment base date to March 31, 2025, with the valuation reduced by about 12% compared with the initial assessment, and disclosed the energy - saving renovation plans for 2027 and 2035, adding an operation efficiency improvement path for IDC - type assets [35]. - On June 3, CICC China Greentown Commercial REIT was approved by the CSRC, further enriching the consumer infrastructure REITs landscape. The underlying asset of the project, the Lingxiu City Guihe Shopping Center, is located at the intersection of the Second Ring South Road and Yingxiongshan Road in the central district of Jinan City, Shandong Province. The latest valuation is 1.53 billion yuan [35][36].

Core Viewpoint - The performance of public REITs in the first quarter remains robust despite a volatile market environment, with significant support from policies and increasing interest from private capital [1][4][5]. Group 1: Performance Overview - A total of 62 public REITs have disclosed their operating data, achieving a combined revenue of 4.779 billion yuan and a net profit of 840 million yuan in the first quarter [1]. - 15 products reported revenues exceeding 100 million yuan, and 29 products had net profits over 10 million yuan, indicating a stable income for investors [1]. - Consumer REITs showed impressive growth, with revenues for specific products like Huaxia Huayun Commercial REIT increasing by 82.28% year-on-year [2]. Group 2: Market Expansion and Support - The number of public REITs is expected to continue expanding, with 7 new REITs listed this year, bringing the total to 65 [4]. - Local governments, such as Guangdong, are actively promoting the cultivation and application of infrastructure REITs, supporting more private capital projects [1][5]. - Non-state-owned enterprises are also showing interest in public REITs, with companies like CapitaLand submitting applications for consumer infrastructure REITs [5]. Group 3: Challenges for Private Enterprises - Private enterprises face challenges in participating in the REITs market, including the need for higher yield rates and market acceptance [6]. - The requirements for asset clarity and stable cash flow are high, with a need for a compound annual growth rate of net operating income (NOI) of at least 5% over three years [6][7]. - To successfully issue REITs, private enterprises must improve asset compliance, operational quality, and governance structures [7].