The Daily Business News learned that the performance of the public offering REITs secondary market was lacklustre last week, with a trend of shrinking and pullback, further upward or downward or lack of drive, mainly consolidation in the short term.
Wind data show that the CSI REITs index fell 0% last week.VideopokerslotsThe total index of .77% quotient REITs fell 0.29%, the REITs index of property rights dropped 0.44%, and the index of management rights REITs fell 0.08%.
Of the 36 products listed on the market, only 15 rose last week from the previous month, while more than half of the products fell from the previous month to 21. Among them, 11 fell more than 1 per cent, and the REIT, which has risen for seven consecutive weeks, closed down 3.43 per cent this week, or due to partial dividend trading and new capital gains, while Jianxin Zhongguancun (000931) REIT, which removed interest on Monday, closed down 2.64 per cent.
At the industry level, two more single products have been officially approved recently, namely Huaxia Special Electric Engineering (600089) New Energy REIT and Huatai Baowan Logistics REIT. Since the beginning of this year, the regular offering of public REITs has accelerated, and at present, many products are still in the stage of inquiry and feedback, laying the foundation for further expansion and quality improvement in the future.
Public offering REITs secondary market contraction callback, further upward or downward lack of drive?
After a brief recovery, the public offering REITs secondary market opened a shrinking callback model last week.
In terms of overall performance, the CSI REITs index fell 0.77%. The Personality REITs index fell 0.29%, the property rights REITs index fell 0.44%, and the management rights REITs index fell 0.08%. From the perspective of major assets, the REITs total index outperformed the CSI 300 index by 0.61%, the CSI total debt index by 0.43%, and the South China Commodity Index by 2.31%.
In terms of different underlying asset types, data from China International Capital Corporation show that the weighted total return on the market value of property rights REITs was-0.64% last week. Zhongguancun REIT, which removed interest on Monday, closed down 2.64%, and Wumart REIT, which has risen for seven consecutive weeks, closed down 3.43% last week, or due to partial dividend trading and new capital gains. The total weighted return on the market capitalization of REITs circulation is-0.65 per cent, while Castrol China Power Construction (601669) REIT led an increase of 3.05 per cent, a cumulative increase of 22.47 per cent relative to the offering price.
At the plate level, the consumer and indemnificatory rental housing sector showed relative resilience, while the warehousing and logistics sector led the decline. the total return index of each sector increased by + 0.42% (consumption), + 0.17% (indemnificatory apartment),-0.24% (environmental protection),-0.36% (energy),-0.37% (industrial park),-0.83% (highway),-1.71% (warehouse logistics).
In terms of specific products, according to Wind data, of the 36 products on the market, only 15 rose month-on-month last week. Among them, Castrol China Power Construction Clean Energy REIT, Guotai Junan (601211) City Investment wide Court affordable rental housing REIT, clay innovation Shenzhen talent safe housing REIT led the rise, up 3.05%, 2.16% and 1.35% respectively.
The number of products that fell by more than half month on month reached 21, of which 11 fell by more than 1%. Jiayumei consumption REIT, Jianxin Zhongguancun REIT, Castrol JD.com warehousing infrastructure REIT led the decline, rising by-3.43%,-2.64% and-2.04% respectively during the week.
Ping an Securities pointed out in the research report that last week REITs or relatively dull, mainly wait-and-see, further upward or downward or lack of drive, or mainly consolidation.
On the one hand, the REITs index pulled back after slightly breaking the March high on May 10, the price level REITs upward may have resistance, need stronger positive to break through, and the quarterly report shows that the marginal decline of REITs performance. On the other hand, valuation timing indicators still point to REITs undervaluation, superimposed scarcity of high dividend assets, and it is difficult for REITs to decline significantly. In addition, the quarterly report has been disclosed, various coupons have also completed dividends one after another, and the market will enter the event window again. "in the next two weeks, if there is no emergency, the overall REITs market is expected to be dull, so we can follow the release progress of the REITs reserve project."
Two more products have been officially approved, and the regular issuance of the public offering REITS has been further accelerated.
The regular offering of the public offering REITs is still accelerating, and some products passed the review last week.
Recently, the public offering REITs market ushered in the first expansion since May. According to the Securities Regulatory Commission and the Stock Exchange, Huaxia Special Electric New Energy REIT and Huatai Baowan Logistics REIT have recently been officially approved for registration by supervision.
According to public data, the new energy REIT of Huaxia Special Transformer Electrical Engineering isVideopokerslotsChina's first private enterprise invests in clean energy REITs project, and it is also the first new energy public offering REITs in Xinjiang Uygur Autonomous region.
The underlying asset of the project is the Hami photovoltaic project located in Yizhou District, Hami City, Xinjiang Uygur Autonomous region, and the original owner and operation management organization is Special Electric Xinjiang New Energy Co., Ltd. (hereinafter referred to as Special Electric New Energy Company). The special plan manager is CITIC Securities (600030), the fund manager is Huaxia Fund, and the fund custodian is Agricultural Bank of China (601288) Co., Ltd.
Baowan Logistics Holdings Co., Ltd. (hereinafter referred to as Baowan Logistics), the sponsor and operation management organization of Huatai Baowan Logistics REIT, is an integrated logistics operator of China Nanshan Group. The underlying assets include Tianjin Baowan Logistics Park, Nanjing Baowan Logistics Park and Jiaxing Baowan Logistics Park, all of which are located in the economically developed Beijing-Tianjin-Hebei and Yangtze River Delta transportation hub areas.
According to the statistics of the Daily Business News, with the approval of the two public REITs, the number of products approved by the public REITs has reached 6 so far this year, indicating the acceleration of the regular issuance of the public REITs. At the same time, more than 10 products are in the stage of inquiry and feedback, laying a good foundation for further expansion and quality improvement in the future.
In addition to the approved products, the Shanghai Stock Exchange last week issued feedback on the first incubator REIT-- Investment Incubator REIT project, with regulatory focus on the operation of infrastructure projects and the reasonableness of project valuation. Citic Construction Investment (601066) Securities pointed out that the focus of this inquiry is more detailed, especially in terms of valuation, combined with the rental value, growth rate, rental rate, discount rate and other data of China Merchants Incubator REIT, and makes detailed inquiries about the rationality and adequacy of the core valuation parameters, continuing the previous train of thought of compelling REITs first-level valuation.
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