Core Viewpoint - The China Securities Hong Kong 300 Materials Index has shown significant growth, with a year-to-date increase of 45.40% and a recent one-month increase of 6.23% [1] Group 1: Index Performance - The China Securities Hong Kong 300 Materials Index reported a value of 2376.75 points, with a decline of 0.37% on the last trading day [1] - The index has experienced a three-month increase of 26.52% [1] Group 2: Index Composition - The top ten holdings in the China Securities Hong Kong 300 Materials Index include Zijin Mining (26.25%), China Hongqiao (12.13%), and Luoyang Molybdenum (7.36%) [1] - The index is fully composed of stocks listed on the Hong Kong Stock Exchange, with a 100% representation [1] Group 3: Industry Breakdown - The industry composition of the index shows that non-ferrous metals account for 79.26%, non-metallic materials for 14.63%, chemicals for 4.42%, and paper and packaging for 1.70% [2] - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2]

Core Viewpoint - The China Securities Hong Kong 300 Materials Index has shown significant growth, with a 10.89% increase over the past month, 32.08% over the past three months, and 51.78% year-to-date [1]. Group 1: Index Performance - The China Securities Hong Kong 300 Materials Index is currently at 2481.10 points [1]. - The index is based on a sample of all securities classified into various industries according to the China Securities industry classification standards [1]. Group 2: Index Composition - The top ten holdings in the China Securities Hong Kong 300 Materials Index include Zijin Mining (26.77%), China Hongqiao (11.87%), and Luoyang Molybdenum (7.47%) among others [1]. - The index is fully composed of stocks listed on the Hong Kong Stock Exchange, with a 100% representation [1]. Group 3: Industry Breakdown - The industry composition of the index shows that non-ferrous metals account for 79.54%, non-metallic materials for 14.60%, chemicals for 4.25%, and paper and packaging for 1.61% [2]. - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2].

Group 1 - Cement stocks collectively declined, with China National Building Material down 4.71% to HKD 4.65, Jinju Group down 4.71% to HKD 0.81, Anhui Conch Cement down 4.03% to HKD 22.6, and Huaxin Cement down 2.12% to HKD 12.9 [1] - The national cement price index reported at 319.64 points on July 25, reflecting a month-on-month decrease of 1.58% and a year-on-year decrease of 11.30% [1] - The national cement market continued to show weakness, with significant regional disparities; North China faced weak price increases, while Northeast China struggled with soft demand [1] Group 2 - Short-term outlook indicates that due to the off-season, cement prices are slightly declining, but the downward space is limited; prices are expected to rise in August as demand enters the peak season [2] - UBS noted that despite high market sentiment, the Yajiang hydropower project is a long-term plan with limited immediate impact on company profits; assuming cement orders are distributed by market share and a gross profit of RMB 150 per ton, Tibet Tianlu is expected to achieve an annual profit of approximately RMB 160 million, compared to a loss of RMB 104 million in 2024 [2] - Net profit growth estimates for Huaxin Cement, China National Building Material, and Anhui Conch Cement are approximately 5%, 2%, and 0.4% respectively [2]

Group 1 - Cement stocks collectively declined, with China National Building Material down 4.71% to HKD 4.65, Jinju Group down 4.71% to HKD 0.81, Conch Cement down 4.03% to HKD 22.6, and Huaxin Cement down 2.12% to HKD 12.9 [1] - The national cement price index reported at 319.64 points on July 25, reflecting a month-on-month decrease of 1.58% and a year-on-year decrease of 11.30% [1] - The national cement market continued to show weakness, with significant regional disparities; North China faced weak price support, Northeast China struggled with soft demand, and East China saw price increase plans shelved due to adverse weather conditions [1] Group 2 - Tianfeng Securities noted that while some regions are experiencing slight price declines due to the off-season, the downward space is limited, and prices are expected to rise in August as demand enters the peak season [2] - UBS indicated that despite high market sentiment, the Yajiang hydropower project has limited impact on the company's profitability; assuming cement orders are distributed by market share and a gross profit of RMB 150 per ton, Tibet Tianlu is expected to achieve an annual profit of approximately RMB 160 million, compared to a loss of RMB 104 million in 2024 [2] - Net profit growth estimates for Huaxin Cement, China National Building Material, and Conch Cement are approximately 5%, 2%, and 0.4% respectively [2]

Core Insights - The role of the board secretary is crucial in connecting investors with listed companies, particularly in capital operations [1] - In 2024, the total compensation for board secretaries in A-share listed companies reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] Industry Overview - A total of 73 listed companies in the building materials sector disclosed board secretary information, with overall revenue in 2024 amounting to 708.449 billion yuan, a year-on-year decline of 12.3% [1] - The net profit attributable to shareholders was recorded at 18.836 billion yuan, which is a significant drop, nearly halving compared to 2023 [1] - Only about 30% of companies in this sector reported increases in both revenue and net profit [1] Compensation Analysis - The average annual salary for board secretaries in the building materials sector in 2024 was 666,100 yuan, with 34 secretaries earning above this average [2] - The median salary was 630,200 yuan, with the highest and lowest salaries differing by 2.0166 million yuan [2] - Approximately 18.1% of board secretaries earned over 1 million yuan, while the lowest-paid secretary, Yu Haokun from Jinjing Technology, earned only 191,800 yuan [2] Salary Trends - Compared to 2023, the average and median salaries for board secretaries in the building materials sector decreased by 2.2% and 3.9%, respectively [2] - Among those in office for over a year, 29 secretaries saw a decrease in salary, with the most significant drop being 797,000 yuan for Qin Qing from Hainan Ruize [2] - Conversely, 26 secretaries experienced salary increases, with notable gains of 501,500 yuan and 518,200 yuan for Wang Chuanqiu from Shandong Fiberglass and Huang Dunxia from International Composite Materials, respectively [2] Top Earners - Ding Chengche from China Jushi topped the salary list with 2.0192 million yuan, significantly higher than the second-highest, Deng Lingyun from Qibin Group, who earned 1.772 million yuan [3] - The lowest-paid secretary with over a year of service was Yu Haokun from Jinjing Technology, earning 191,800 yuan and holding no company shares [2][3] - Among the top 10 earners, one secretary, Hu Bingfang from Tibet Tianlu, faced regulatory issues related to financial reporting inaccuracies [3]

格隆汇7月29日丨海螺水泥(600585.SH)在互动平台表示，大型工程的混凝土需求，通常由工程施工单位 自建搅拌站，通过采购水泥等原材料进行搅拌生产。目前，公司当地子公司八宿海螺不生产销售混凝 土。 ...

格隆汇7月29日丨海螺水泥(600585.SH)在互动平台表示，近年来，公司坚持以"数字赋能传统制造"为核 心，全面推进水泥行业自动化、智能化、绿色化升级，旨在通过数智技术赋能，改善水泥企业工作环 境，保证职业健康和安全文明生产，并提升运营效率、降低能耗成本；在赋能水泥行业的同时，积极推 广在其他行业的应用。公司下属安徽海螺中南机器人有限责任公司，核心方向并非通用型机器人，公司 重点推广实施袋装水泥机器人自动装车系统、码垛及清堵系统等，是提供EPC一站式交钥匙工程服务的 机器人系统供应商,现亦已在化工、粮食等其它行业推广应用。关于半导体、固态电池等行业，目前公 司尚未涉足。 ...

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安徽海螺水泥股份有限公司 Anhui Conch Cement Company Limited 董事会决议公告 证券代码：600585 证券简称：海螺水泥 公告编号：临 2025-22 审议通过《关于修订<安徽海螺水泥股份有限公司薪酬及提名委员会职权范围 书>的议案》，同意根据 2025 年 7 月 1 日正式生效的经修订《香港联合交易所有限 公司证券上市规则》之附录 C1《企业管治守则》有关规定，结合公司实际情况，对 《安徽海螺水泥股份有限公司薪酬及提名委员会职权范围书》进行修订。 特此公告。 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。 安徽海螺水泥股份有限公司董事会 2025年7月28日 安徽海螺水泥股份有限公司（以下简称"本公司"或"公司"）董事会于 2025 年 7 月 28 日以通讯方式召开会议，应到董事 9 人，实到董事 9 人，本次会议由公司 董事长杨军先生主持。本次会议的召开符合《公司法》和本公司《公司章程》的规 定，会议程序及所作决议合法有效。本次会议审议的议案表决结果为：有效表决票 数 9 票，其中赞成 ...

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