（编辑 丛可心） 证券日报网讯 12月19日，海螺水泥在互动平台回答投资者提问时表示，公司将围绕已制定的《市值管 理制度》及《2025年估值提升计划》，积极推动落实市值管理的各项举措，持续提升经营发展质量，不 断增强公司的内在投资价值。后续公司如有股份回购注销计划，将严格按照规定履行信息披露义务。 ...

（文章来源：证券日报） 证券日报网讯 12月19日，海螺水泥在互动平台回答投资者提问时表示，公司始终坚持有效投资导向， 做强做优水泥主业，做精上下游产业链延伸，加快推进国际化发展；同时加强新兴产业布局，推动环 保、新能源和数字产业发展，为水泥主业赋能。面对水泥行业产能过剩、需求萎缩的挑战，公司立足生 产经营实际情况和战略发展规划，合理确定资本开支规模；后续公司将统筹兼顾发展战略规划、行业发 展趋势及股东投资回报等因素，确保资金合理分配，在保障公司可持续发展需要的同时，为股东带来更 加稳定、可持续的投资回报。 ...

证券日报网讯12月19日，海螺水泥（600585）在互动平台回答投资者提问时表示，公司生产经营一切正 常。 ...

Core Insights - The central economic work conference emphasizes stabilizing the real estate market and combating "involution" in competition, aiming to promote the construction of "good houses" and accelerate the establishment of a new model for real estate development [6][15] - The report suggests that the cement, glass, and certain consumer building materials industries may see continued optimization in supply-side dynamics, leading to increased concentration and improved profitability [6][15] Consumer Building Materials - The consumer building materials sector is experiencing a recovery in retail due to high demand for second-hand housing and supportive subsidy policies, with leading companies showing strong operational resilience [6][31] - Long-term demand stability and increasing industry concentration provide significant growth potential for quality leading companies in the consumer building materials sector [6][31] - Key companies to watch include Sanke Tree, Rabbit Baby, Hanhai Group, Dongfang Yuhong, China Liansu, Beixin Building Materials, Weixing New Materials, and others [6][31] Cement - National cement market prices increased by 0.05% week-on-week, with the average price at 355 RMB/ton as of December 12, 2025, reflecting a year-on-year decrease of 69.17% [6][31] - The report anticipates that cement prices will maintain a slight fluctuation in the future, with industry valuations at historical lows, highlighting companies like Huaxin Cement, Conch Cement, and others for potential investment [6][31] Glass - Float glass prices are showing mixed trends, while photovoltaic glass inventories continue to rise, with the average price of float glass at 1156 RMB/ton, down 1.0% month-on-month and 18.0% year-on-year [6][31] - The report indicates that leading glass companies have low valuations and suggests focusing on Qibin Group, Xinyi Solar, and others for investment opportunities [6][31] Fiberglass/Carbon-based Composites - The market for fiberglass is stable, with direct yarn prices holding steady, while electronic yarn prices have stabilized after previous increases [6][31] - The report identifies leading companies in the fiberglass sector, including China Jushi and others, as having a significant competitive edge [6][31] Market Data and Trends - The report notes that the consumer building materials sector has seen a year-on-year revenue decline of 4.2% in the first three quarters of 2025, with a notable improvement in revenue growth rates for leading companies [33][34] - The profitability of the consumer building materials sector is stabilizing, with net profit margins hovering at the bottom, indicating potential for recovery as market conditions improve [34][41]

Core Insights - The report emphasizes the importance of identifying investment opportunities in the building materials sector as it transitions from a period of intense competition to one focused on value extraction and growth [1]. Group 1: Investment Opportunities in the Building Materials Sector - Four key investment themes are highlighted: traditional building material leaders emerging from the bottom of the cycle, overseas capacity expansion, high-demand new materials, and policy support for industry consolidation [5]. - Traditional building material leaders are expected to recover first, with a focus on alpha opportunities as the sector stabilizes [14]. - The overseas expansion of building material capacity is driven by high demand in foreign markets, particularly in Africa, where Chinese companies are increasingly investing [20][22]. Group 2: Consumer Building Materials - The consumer building materials sector is stabilizing, with a narrowing decline in real estate indicators expected in 2026, leading to a potential rebound in demand [15]. - Strong alpha leaders in the sector are anticipated to achieve positive revenue growth first, with companies like Sanke Tree and Dongfang Yuhong highlighted as key players [15][16]. - Profit margins are expected to improve in 2026 due to price stabilization, structural optimization, and enhanced operational efficiency [15]. Group 3: Glass Fiber Industry - The glass fiber market is projected to maintain a tight supply-demand balance, with demand expected to grow by 5.8% in 2025 and 4.6% in 2026 [5][25]. - The report notes that the profitability of traditional glass fiber products is on an upward trajectory, with leading companies benefiting from differentiated product advantages [5][28]. Group 4: Cement Industry - The domestic cement market is facing a decline in demand, with expectations of a 7% drop in 2025 and a 6% drop in 2026, while overseas markets remain robust [5][31]. - The report suggests that supply-side policies will play a crucial role in stabilizing the market, with potential profitability improvements anticipated in 2026 [5][36]. Group 5: Glass Industry - The glass industry is expected to see supply optimization as a key theme in 2026, with a slight decline in demand for float glass anticipated [5][40]. - The photovoltaic glass segment is projected to experience a balanced supply-demand situation, with potential profitability improvements if production resumes [5][45].

证券日报网讯12月12日晚间，海螺水泥（600585）发布公告称，公司不存在为控股股东、实际控制人以 及关联方提供担保的情形；本公司不存在逾期担保事项。 ...

证券代码：600585 证券简称：海螺水泥 公告编号：2025-32 安徽海螺水泥股份有限公司 关于担保实施进展的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保 对象 被担保人名称 南京海中环保科技有限责任公司 （以下简称"南京海中环保"） 本次担保金额 500 万元 截至本公告日，包括本次担保 在内，本公司及附属公司实际 为其提供的担保余额 2,604 万元 是否在前期预计额度内 是 □否 □不适用 本次担保是否有反担保 □是 否 □不适用 担保对象及基本情况 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日本公司及附属公司 | 83,800 | | 对外担保总额（万元） | | | 对外担保总额占本公司最近一期 | 0.45 | | 经审计净资产的比例（%） | | | 特别风险提示 | 无 | 1 一、担保情况概述 （一）担保的基本情况 | 被担保人类型 | 法人 | | | | --- | --- | --- | --- | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 安徽海螺水泥股份有限公司 ANHUI CONCH CEMENT COMPANY LIMITED （在中華人民共和國註冊成立之股份有限公司） （股份代號：00914） 虞水 中國安徽省蕪湖市 二零二五年十二月十二日 截至此公告日，本公司董事會成員包括 (i) 執行董事楊軍先生、朱勝利先生、李群峰 先生、吳鐵軍先生及虞水先生； (ii) 獨立非執行董事屈文洲先生、何淑懿女士及韓旭 女士； (iii) 職工董事凡展先生 於其他市場發佈的公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第 13.10B 條而作出。 茲載列安徽海螺水泥股份有限公司在上海證券交易所網站刊登的《關於擔保實施進 展的公告》，僅供參閱。 承董事會命 安徽海螺水泥股份有限公司 聯席公司秘書 证券代码：600585 证券简称：海螺水泥 公告编号：2025-32 安徽海螺水泥股份有限公司 关于担保实施进展的公告 本公司董事会及全体董事保 ...

Core Insights - The 2025 Anhui Listed Companies High-Quality Development Forum highlighted the growth and performance of listed companies in Anhui province, showcasing a significant increase in the number of companies and their overall development capabilities [1][3]. Group 1: Company Growth and Performance - As of the end of November, Anhui has 186 listed companies, marking a nearly 50% increase since the end of the 13th Five-Year Plan, ranking 7th nationally and first in Central China [3]. - In the first 11 months of this year, Anhui added 5 new listed companies, ranking 5th in the country, with 12 new IPO applications and 21 companies in counseling, also ranking 4th nationally [3]. Group 2: Ranking of Comprehensive Development Ability - The 2025 Anhui Listed Companies series rankings evaluated companies based on comprehensive development ability, total investment scale, innovation capability, operational efficiency, and ESG performance [4]. - iFlytek ranked first in comprehensive development ability, followed by Jinghe Integration and Aiko Optoelectronics [5]. Group 3: Investment and Financing Scale - The total investment scale of listed companies in Anhui is steadily increasing, with Conch Cement, Anhui Construction, and Sunshine Power leading in total investment scale [6][7]. - Conch Cement has a total investment scale of 2270.46 billion, followed by Gujing Distillery at 379.80 billion and Anhui Construction at 1373.55 billion [7]. Group 4: Operational Efficiency - The operational efficiency of listed companies is crucial for revenue generation, with Shannon Chip, Koushijiao, and Gujing Distillery ranking highest in operational capability [8]. Group 5: Innovation Capability - Aiko Optoelectronics, Rena Intelligent, and Koweil ranked highest in innovation capability, indicating a steady improvement in the innovation capacity of Anhui listed companies [10][11]. Group 6: ESG Performance - Three companies achieved a comprehensive ESG score above 0.7, indicating strong performance in environmental, social, and governance metrics [12].

（文章来源：每日经济新闻） 每经AI快讯，港股水泥股午后跌幅扩大。截至发稿，中国建材(03323.HK)跌4.62%，报4.96港元；海螺 水泥(00914.HK)跌3.46%，报22.88港元；西部水泥(02233.HK)跌3.26%，报2.97港元；华润建材科技 (01313.HK)跌1.89%，报1.56港元。 ...