The available shares are still scarce, and Huaxia China Communications Construction Company Limited(601800) reit (508018. SH) ended the raising ahead of schedule. Event: on April 8, Huaxia China Communications Construction Company Limited(601800) reit released the announcement on the early termination of public investors’ offering and proportional placement. Huaxia China Communications Construction Company Limited(601800) reit has a subscription price of 9.399 yuan / share, a total sale share of 1 billion, and a total expected raising scale of 9.399 billion yuan (excluding subscription fees and interest generated by subscription funds during the raising period). The initial fund share sold to public investors is 75 million, with a scale of 705 million yuan; The initial offering share of strategic placement was 750 million, accounting for 75% of the total offering share. The initial offline offering share was 175 million, accounting for 70% of the number sold after deducting the placement part to strategic investors. In 3.26 “Zhouguan REITs: pay attention to the REIT subscription opportunities of Huaxia CCCC”, we prompted the subscription opportunities of a new batch of REITs. As of April 8, 2022, the offline subscription income of the second batch of public REITs has contributed 0.79%, and the core income is the allocated amount.
REITs market continued to rebound this week, led by AVIC Shougang biomass REIT (2.11%). This week (2022.4.6-2022.4.8), the REITs index rose, of which the REITs index rose (0.38%) to close at 133.87 points, the management rights REITs index rose (0.24%) to close at 131.5 points, and the property rights REITs index rose (0.5%) to close at 135.86 points. The average increase this week was 0.34%, led by AVIC Shougang biomass REIT (2.11%). Relative to the issue price, the average increase is 33.87%, of which, the first water REIT (65.33%), the red earth innovation Shenzhen Yan Tian Port Holdings Co.Ltd(000088) storage logistics REIT (48.97%) and the Jianxin Beijing Centergate Technologies (Holding) Co.Ltd(000931) Industrial Park REIT (47.81%) are the top three of the price increase.
REITs transaction activity increased this week. The average turnover rate of 11 public offering REITs this week was 1.36%, the average transaction value was 173 million yuan, and the trading volume was 33 million copies; Last week, the average turnover rate was 1.25%, with an average turnover of 153 million yuan and a turnover of 30 million copies. The weekly turnover of 11 public offering REITs was 867 million yuan and the trading volume was 163 million copies, with month on month changes (- 0.14%) and (- 5.39%) compared with the previous week, and the corresponding historical quantile levels since listing were 42.50% and 47.50% respectively; The weekly turnover rate is 2.12%, corresponding to the historical quantile level of 75.00% since listing.
This week, the REITs of the park’s infrastructure was actively traded. The largest turnover of REITs in the park infrastructure this week was 179 million yuan, down (- 38.14%) from the previous week. The turnover of REITs in ecological and environmental protection, park infrastructure, transportation infrastructure and warehousing and logistics this week were 136 million yuan, 179 million yuan, 115 million yuan and 113 million yuan respectively, up from – 35.33%, – 38.14%, – 35.08% and – 40.82% respectively from the previous week. The average daily turnover rate in the range was 3.13%, 1.38%, 1.02% and 1.43% respectively. Since its issuance, the cumulative transaction amount of public offering REITs of park infrastructure, ecological environmental protection, transportation infrastructure and warehousing and logistics reached 13.783 billion yuan, 6.669 billion yuan, 10.335 billion yuan and 9.93 billion yuan respectively, and the cumulative transaction volume was 3.736 billion, 885 million, 932 million and 2.462 billion copies respectively.
This week, the REITs valuation of ecological environmental protection and warehousing logistics is high, while the valuation of Shekou Industrial Park and Guangzhou Guanghe is relatively low. Compared with the ABS valuation of CSI, as of April 9, 2022, the REIT of Boshi China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) Industrial Park (REITs valuation 3.28 / ABS valuation 3.04) and Ping An Guangzhou Jiaotou Guanghe Expressway (REITs valuation 13.01 / ABS valuation 14.61) were relatively low.
Risk warning: the future operation of REITs basic assets project is uncertain; The future cash flow calculated in the prospectus may not accurately reflect the actual situation; The progress of raising and issuing was less than expected.
