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） 關連交易及持續關連交易：接受工程項目設計與技術服務、礦山基建項目 工程設計與施工服務、SCR 脱硝技改服務、分佈式光伏項目 EPC 服務及 除氯系統技改服務 工程項目設計與技術服務 二零二六年三月二十日，本公司（為其自身及代表其相關附屬公司）與海螺設計院簽 署《工程項目設計與技術服務合同》，根據該合同，海螺設計院將為本公司若干附屬 公司的骨料、機制砂、商砼、幹混砂漿項目、輥壓機技改項目、大型專項改造項目、 工程諮詢服務等項目提供工程設計及/或技術改造服務，合同價格為人民幣 10,584 萬 元。 二零二五年十二月五日，本公司附屬公司海螺環保（為其自身及代表其相關附屬公司） 與海螺設計院簽署《工程設計服務框架協議》，根據該協議，於二零二六年度 ...

据香港联交所最新数据显示，3月16日，FMR LLC增持海螺水泥（00914）332.25万股，每股作价 22.7745港元，总金额约为7566.83万港元。增持后最新持股数目约为6617.32万股，持股比例为5.09%。 据香港联交所最新数据显示，3月16日，FMR LLC增持海螺水泥（00914）332.25万股，每股作价 22.7745港元，总金额约为7566.83万港元。增持后最新持股数目约为6617.32万股，持股比例为5.09%。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 ...

Group 1 - FMR LLC increased its stake in Conch Cement (600585) by acquiring 3.3225 million shares at a price of HKD 22.7745 per share, totaling approximately HKD 75.6683 million [1] - Following the acquisition, FMR LLC's total shareholding in Conch Cement reached approximately 66.1732 million shares, representing a 5.09% ownership stake [1]

Group 1 - FMR LLC increased its stake in Conch Cement (00914.HK) by purchasing 3.3225 million shares at an average price of HKD 22.7745 per share, totaling approximately HKD 75.6683 million [1][2] - Following the acquisition, FMR LLC's total shareholding rose to 66.1732 million shares, increasing its ownership percentage from 4.84% to 5.09% [1][2]

智通财经APP获悉，据香港联交所最新数据显示，3月16日，FMR LLC增持海螺水泥(00914)332.25万 股，每股作价22.7745港元，总金额约为7566.83万港元。增持后最新持股数目约为6617.32万股，持股比 例为5.09%。 ...

Core Viewpoint - Conch Cement's stock price has shown fluctuations, with a recent decline of 2.03%, while the company has experienced a year-to-date increase of 12.35% in stock value [1][5]. Financial Performance - For the period from January to September 2025, Conch Cement reported operating revenue of 61.298 billion yuan, a year-on-year decrease of 10.06%, while net profit attributable to shareholders increased by 21.28% to 6.305 billion yuan [2][6]. Shareholder Information - As of September 30, 2025, the number of shareholders for Conch Cement reached 251,400, an increase of 12.17% compared to the previous period [2][6]. - The company has distributed a total of 83.985 billion yuan in dividends since its A-share listing, with 17.922 billion yuan distributed over the last three years [3][7]. Stock Trading Activity - On March 18, Conch Cement's stock traded at 24.56 yuan per share, with a total transaction volume of 366 million yuan and a turnover rate of 0.37% [1][4]. - The net outflow of main funds was 11.4713 million yuan, with significant buying and selling activity observed in large orders [1][4]. Business Overview - Conch Cement, established on September 1, 1997, and listed on February 7, 2002, is primarily engaged in the production and sales of cement, clinker, and aggregates [5][6]. - The revenue composition of the company includes 57.81% from 45-grade cement, 15.63% from other sales, and smaller percentages from various construction materials [6]. Industry Classification - Conch Cement is classified under the building materials sector, specifically in cement manufacturing, and is associated with concepts such as prefabricated buildings, blue-chip stocks, and state-owned enterprise reforms [2][6].

智通财经APP获悉，香港联交所最新资料显示，3月11日，Artisan Partners Holdings LP减持海螺水泥 (00914)268.75万股，每股作价22.8536港元，总金额约为6141.91万港元。减持后最新持股数目约为 6384.83万股，最新持股比例为4.91%。 本交易涉及其他关联方：Artisan Partners Asset Management Inc.、Artisan Partners Limited Partnership. ...

香港联交所最新资料显示，3月11日，Artisan Partners Holdings LP减持海螺水泥（600585） (00914)268.75万股，每股作价22.8536港元，总金额约为6141.91万港元。减持后最新持股数目约为 6384.83万股，最新持股比例为4.91%。 本交易涉及其他关联方：Artisan Partners Asset Management Inc.、Artisan Partners Limited Partnership. ...

Core Insights - The report highlights that the escalation of the US-Iran conflict has led to a surge in oil prices, which in turn has caused a price increase in various construction materials. Brent crude oil prices have risen by 64.6% since the beginning of the year, reaching $101 per barrel, the highest since the Russia-Ukraine conflict in 2022 [12][13] - The report suggests that the construction materials sector is experiencing a price recovery, with leading companies benefiting from improved pricing power and a consensus on price increases within the industry [13][14] Group 1: Impact of US-Iran Conflict - The US-Iran conflict has resulted in the temporary closure of the Strait of Hormuz, disrupting oil supply chains and causing significant price increases in raw materials such as natural gas (up 41%), asphalt (up 9.3%), and acrylic acid (up 134.8%) [12][13] - Leading companies in the construction materials sector are expected to have better pricing power due to rising raw material costs, which can enhance their profit margins [13][14] Group 2: Construction Materials Market Trends - The report indicates that the construction materials market is witnessing a price recovery, with companies like Sanhe Tree, Rabbit Baby, and Oriental Yuhong being highlighted as key players to watch [12][14] - The cement market has seen a slight decrease in prices, with a 0.3% drop reported recently. The average price of cement is currently 337 RMB per ton, which is down 1.00 RMB from the previous period [22][23] - The glass market is showing stable price trends, with float glass prices increasing by 1.4% recently, while photovoltaic glass trading remains steady [27][28] Group 3: Financial Performance and Valuation - The report provides a detailed financial analysis of key companies in the construction materials sector, indicating that many leading firms are expected to see improved earnings as market conditions stabilize [5][22] - The valuation of the construction materials sector is currently at historical lows, suggesting potential investment opportunities as the market begins to recover [22][23] Group 4: Consumer Construction Materials - The consumer construction materials segment is showing signs of recovery, with leading companies demonstrating resilience in their operations despite ongoing challenges in the real estate market [22][23] - The report notes that the long-term demand for consumer construction materials remains stable, supported by the renovation of existing properties and an increase in market concentration among leading firms [22][23]

Investment Rating - The industry investment rating is "Hold" [2] Core Viewpoints - The dual carbon policy is expected to strengthen the supply logic of the building materials industry, leading to potential improvements in profitability from historical lows [5][34] - The cement industry is a key focus for carbon reduction, with an estimated clinker production of approximately 1.1 billion tons in 2025, contributing to about 8% of national carbon emissions [34] - The glass industry is also under scrutiny, with significant carbon emissions expected to be managed through cleaner fuel transitions and potential inclusion in carbon markets by 2027 [34] Summary by Sections Transition from Energy Consumption Control to Carbon Emission Control - The transition from "energy consumption control" to "carbon emission control" is expected to enhance the effectiveness of carbon reduction efforts [19][20] - The 14th and 15th Five-Year Plans emphasize the importance of reducing carbon emissions, with a target of a 17% reduction in carbon emissions per unit of GDP by 2025 [23][26] Cement Industry - The dual carbon policy is anticipated to lead to continuous improvements in the supply side of the cement industry, with administrative measures expected to force non-compliant and inefficient production capacities out of the market [34] - The carbon market is set to include the cement industry by 2025, with a gradual tightening of carbon quotas expected post-2027, which will increase costs for less efficient producers [35][36] Glass Industry - The glass industry is currently undergoing transformations to phase out outdated production capacities through cleaner fuel initiatives, with expectations of stricter environmental policies in the future [34] - The glass sector is projected to be included in carbon market regulations by 2027, which will further drive the exit of inefficient production capacities [34] Investment Recommendations - The report suggests that the dual carbon policy will enhance the supply-side logic of the building materials industry, with leading companies expected to benefit from improved profitability as supply conditions optimize [5][34] - Key companies to watch in the cement sector include Huaxin Cement, Conch Cement, and China National Building Material, while in the glass sector, focus on companies like Xinyi Glass and Fuyao Glass [5][34]