REITs market continued to adjust this week, with Wells Fargo's first water REIT (- 4.24%) leading the decline. This week (2022.4.182022.4.22), the REITs index fell, of which the REITs index fell (- 2.33%) to close at 131.2 points, the management rights REITs index fell (- 1.91%) to close at 128.95 points, and the property rights REITs index fell (- 2.68%) to close at 133.07 points. The average increase this week was - 1.62%, with Wells Fargo's first water REIT (- 4.24%) leading the decline. Relative to the issue price, the average increase was 31.2%. Among them, Wells Fargo's first water REIT (58.76%), CCB Beijing Centergate Technologies (Holding) Co.Ltd(000931) Industrial Park REIT (46.94%) and AVIC Shougang biomass REIT (41.33%) ranked among the top three in terms of price increase compared with the time of issue.
The transaction activity of REITs decreased this week. The average turnover rate of 11 public offering REITs this week was 1.18%, with an average turnover of 156 million yuan and a turnover of 28 million copies; Last week, the average turnover rate was 1.44%, the average turnover was 183 million yuan, and the trading volume was 34 million copies. The weekly turnover of 11 public offering REITs was 778 million yuan and the trading volume was 141 million copies, with month on month changes (- 14.98%) and (- 18.32%) compared with the previous week, and the corresponding historical quantile levels since listing were 45.24% and 35.71% respectively; The weekly turnover rate was 1.36%, corresponding to the historical quantile level since listing of 35.71%.
This week, the REITs of the park's infrastructure was actively traded. The largest turnover of REITs in the park infrastructure this week was RMB 283 million, down (- 24.26%) from the previous week. The turnover of REITs in ecological and environmental protection, park infrastructure, transportation infrastructure and warehousing and logistics this week were RMB 124 million, RMB 283 million, RMB 216 million and RMB 154 million respectively, up from - 16.66%, - 24.26%, 1.02% and - 13.37% respectively from the previous week. The average daily turnover rates in the range were 1.81%, 1.23%, 1.05% and 1.05% 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 RMB 14.619 billion, 7.078 billion, 10.88 billion and 10.375 billion respectively, and the cumulative transaction volume was 3.942 billion, 9.29 billion, 982 million and 2.575 billion 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 CSI ABS valuation, as of April 23, 2022, the REIT of Boshi China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) Industrial Park (REITs valuation 3.13 / ABS valuation 3.03) and Ping An Guangzhou Jiaotou Guanghe Expressway (REITs valuation 12.99 / ABS valuation 14.6) 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.
