Public offering REITs secondary market generally fell, difficult to suppress the "hot" issuance: some products have a subscription multiple of over 340 times, reaching a new high again!

Last week, the secondary market of public REITs was under pressure. As of last Friday, the Zhongzheng REITs index closed at 773.15 points, down 3.06% compared to the previous week; the Zhongzheng REITs total return index closed at 999.19 points, down 2.85% compared to the previous week. According to Wind data, among the 78 public REITs products listed, only 2 products saw an increase compared to the previous week, which were Huaxia Waigaoqiao REIT and Boshi Tianjin Development Zone REIT, and their gains were very limited; the number of products that decreased significantly increased to 75, with 1 product remaining unchanged. The top three products with the largest decline last week were Huaxia Yuexiu Expressway REIT, Huatai Jiangsu Jiaokong REIT, and Zhongjin Shangao Group Expressway REIT, each dropping by 7.1%, 6.9%, and 6.5% respectively. On the other hand, the issuance market continued to be active, with the effective subscription multiple of 340.5 times for the Huaxia Zhonghe Hydropower REIT listed on Wednesday last week, which once again refreshed the record of effective subscription multiple for REITs in the offline market after Huaxia Zhonghai Commercial REIT. In addition, there were signals of asset expansion on the asset side, as Shanghai Jinjiang Asset Management Co., Ltd., a subsidiary of Jinjiang International, issued a tender notice for public REITs fund managers, and Huatai Baowan Logistics REIT also disclosed an additional fund-raising plan.