CITIC Securities: Currently, the data center REITs that have been listed are worth continued attention.

According to the research report of CITIC Securities, in the process of rapid increase in the demand for computing power driven by AI applications, IDC faces triple core constraints on the supply side, including core location, energy consumption, and capital investment, which may result in the supply growth not being able to keep up with the acceleration of demand, and the industry prosperity is expected to continue. In this context, high-quality IDC assets listed on the REITs platform by top operators are scarce. It is expected that even in future cyclical fluctuations, their robustness will be relatively higher, making them high-quality assets for both offense and defense. Additionally, as the subsequent fundraising process progresses in an orderly manner, investor returns may further increase, making currently listed data center REITs worth continuous focus. Furthermore, if the valuations of newly issued data center REITs in the primary market are more cost-effective, it is recommended that investors actively participate in the primary market strategic allocation.