材料是建筑的源头和根基，好材料对"好房子"建设起到十分重要的支撑作用。"'好房子'建设是建筑材料 行业发展的新方向。建设'好房子'需要好标准、好设计、好材料、好建材、好服务。"中国工程院院 士、中国建材集团首席科学家彭寿日前表示，通过好材料支撑"新房子"、改造"老房子"，是发展住建系 统新质生产力的必由之路。 5月1日，《住宅项目规范》实施，从制度层面支撑住宅项目高质量发展；8月发布的《中共中央国务院 关于推动城市高质量发展的意见》提出，全链条提升住房设计、建造、维护、服务水平，大力推进安 全、舒适、绿色、智慧的"好房子"建设。 建设"好房子"成为建筑材料行业共识。当前，我国已形成非常完备的建材体系，覆盖水泥、玻璃、陶瓷 等30个行业小类、1000多种产品。彭寿说，节能材料、创能材料、功能材料、智能材料等先进建筑材 料，正是建成"好房子"必需的好材料。建材行业要从做大规模进阶到高质量发展，需加强与建筑行业的 良好协同，走出行业发展新路径。 在节能材料领域，发展趋势之一是高性能，例如具备超级绝热性能、良好透光性及消音降噪等优异特性 的气凝胶玻璃；其次是复合化，例如对智能温控发展非常重要的石墨烯发热材料，结合了抗 ...

高盛发布研报称，中国建材(03323)上半年净利润达13.6亿元人民币(下同)，相较去年同期为亏损20.2亿 元。若剔除一次性因素，经常性净利润为12.9亿元，而去年同期经常性亏损为15.5亿元。业绩表现好过 该行及市场预期，主要受新材料与水泥业务利润超预期所带动。公司与去年同期一样，未宣派中期股 息。该行维持"买入"评级，目标价由4.4港元升至6.7港元。 ...

FF301 本月底法定/註冊股本總額： RMB 7,593,021,358 | 2. 股份分類 | 普通股 | 股份類別 | | 其他類別 (請註明) | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,876,624,162 | RMB | | 1 RMB | | 3,876,624,162 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 3,876,624,162 | RMB | | 1 RMB | | 3,876,624,162 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- ...

Group 1 - China National Building Material Group held a promotional event and innovation exhibition in Jakarta, Indonesia, attracting nearly 200 attendees, including government officials and representatives from enterprises and investment institutions [1][3] - The event showcased the group's global business layout and international development achievements, emphasizing comprehensive solutions in basic building materials, new materials, photovoltaic energy storage, and mineral resource development to support Indonesia's national development and promote sustainable growth [3][5] - The innovation exhibition featured the latest achievements from 10 member companies in areas such as basic building materials, new materials, engineering technology services, and logistics trade, with a focus on integrated digital solutions for smart factories and predictive maintenance [5][6] Group 2 - The event was welcomed by Indonesian Deputy Minister of Investment and Downstream Industry, who noted that it would facilitate cooperation between enterprises from both countries and promote the introduction of high-tech, low-carbon, and sustainable solutions, contributing to Indonesia's industrial modernization and green transformation [5] - China National Building Material Group's chairman highlighted the rapid development of Sino-Indonesian cooperation and the commitment to high-quality international development, aiming to jointly explore the Indonesian market and expand cooperation with ASEAN partners [6] - During the event, China National Building Material Group and its subsidiaries announced four technological innovation achievements and signed collective agreements with five key partners [6]

托多图阿·帕萨里布表示，此次活动不仅为两国企业搭建合作平台，更将推动高技术、低碳和可持续解 决方案的引入，助力印尼实现工业现代化与绿色转型。 中新网雅加达8月30日电 (记者 李志全)8月29日，中国建材集团在印度尼西亚首都雅加达举办推介会。 中国建材集团董事长周育先，印尼能源与矿产资源部副部长尤利奥特、投资与下游产业部副部长托多图 阿·帕萨里布、能源与矿产资源部司长萨蒂亚·汉加·尤达、印尼水泥协会会长利利克·翁古尔·拉哈尔乔， 以及来自印尼政府部门、全球商业合作伙伴、知名投资机构以及媒体等近200名嘉宾参加推介会。 图为集体 签约现场。主办方供图 周育先说，目前，中国建材在东南亚共设有31家企业与机构，产业覆盖新材料、新能源、商贸物流等多 个领域。自2005年进入印尼市场，不断为印尼经济发展注入新的活力。他表示，中国建材将与印尼和东 盟伙伴一道，采取战略合作、联合创新、投资并购、基金投资等多种模式，为实现"黄金印尼2045愿 景"与"东盟共同体愿景2045"贡献中国建材的智慧、方案和力量。 萨蒂亚·汉加·尤达表示，诚挚欢迎包括中国在内的战略伙伴深化在工业、能源和可持续发展领域的合 作，共同打造绿色、创新与共 ...

中国建材集团董事长周育先告诉记者，水泥行业减碳主要靠"三招"，一是燃料替代，用生物质等燃料逐 步替代煤等化石燃料；二是原料替代，使用含有较低石灰石或替代性凝胶材料替代传统生料；三是对于 无法完全消除的剩余排放，部署CCUS技术，实现碳资源循环利用，"我们正在将这些已在中国实现商 业化的成熟低碳技术引入印尼，加速印尼水泥行业低碳转型"。 印尼能源与矿产资源部石油和天然气商业化领域高级专家萨蒂亚·汉加·尤达表示，印尼正聚焦下游化战 略与可再生能源发展，投资潜力巨大，中印尼在建材领域的合作有望通过优化能源供应链助力能源转 型，推动实现可持续、绿色、包容的经济增长。 印尼投资与下游化部副部长托多图阿·帕萨里布表示，中国对印尼的投资实现额在近六年间实现年均 31%的高速增长，有效助力印尼下游化战略，投资与下游化部会简化审批流程，打造更优投资环境，努 力降低企业投资风险。 印尼水泥协会会长利利克·翁古尔·拉哈尔乔表示，印尼水泥行业正计划通过能源效率提升、替代燃料/原 料应用和部署碳捕集、利用与封存技术（CCUS），力争到2050年实现净零碳排放。 作为中国建材集团国际工程业务的核心平台，中国中材国际工程股份有限公司以水泥 ...

Core Viewpoint - The company reported a slight decline in revenue for the first half of 2025, but achieved profitability, indicating a trend towards high-quality growth in its core business segments [1][2]. Group 1: Financial Performance - In 1H25, the company achieved a main business revenue of 83.28 billion yuan, a year-on-year decrease of 0.2%, and a net profit attributable to shareholders of 1.36 billion yuan, aligning with prior forecasts [1]. - In 2Q25, revenue reached 46.64 billion yuan, a year-on-year increase of 0.4%, with a net profit of 1.88 billion yuan, compared to a loss of 670 million yuan in the same period last year [1]. - The company’s basic building materials segment reported a revenue of 37.20 billion yuan in 1H25, down 8.8%, but turned a profit with a total profit of 160 million yuan, reflecting a gross margin increase of 7.3 percentage points to 16.1% [1][2]. Group 2: Segment Performance - The basic building materials division saw a significant drop in cement sales volume by 14.1% to 97.78 million tons, but the average price of cement and clinker increased by 3.6% to 249.8 yuan per ton [1][2]. - The new materials division generated revenue of 26.76 billion yuan in 1H25, a year-on-year increase of 13.6%, with a gross margin of 23.3%, slightly down by 0.4 percentage points [2]. - The engineering services division reported revenue of 21.31 billion yuan in 1H25, a year-on-year increase of 3.6%, but faced a decline in gross margin by 2.6 percentage points to 16.0% [2]. Group 3: Future Outlook - The company expects continued improvement in the basic building materials sector due to anticipated infrastructure investment and supply-side measures [2]. - The company maintains a positive outlook for its new materials segment, particularly in specialty fiber cloth, which is expected to drive growth [1][3]. - The profit forecast for the company for 2025-2027 is set at 4.2 billion, 5.1 billion, and 6.1 billion yuan respectively, with an estimated EPS of 0.55, 0.68, and 0.80 yuan [3].

52周新低排行 股票名称 收盘价 最低价 创低率 新质数字(02322) 0.233 0.070 -81.58% INTL GENIUS(00033) 0.495 0.470 -14.55% 慧源同创科技(01116) 0.205 0.188 -14.16% 力盟科技(02405) 1.390 1.310 -13.25% 网誉科技(01483) 1.110 0.800 -10.11% 找钢集团－Ｗ(06676) 3.010 2.750 -8.64% 翼辰实业(01596) 0.770 0.700 -6.67% 今海医 疗科技(02225) 0.500 0.475 -5.00% 中天湖南集团(02433) 0.090 0.086 -4.44% 民商创科(01632) 0.149 0.135 -3.57% 中华燃气(08246) 0.070 0.070 -2.78% 草姬集团(02593) 1.460 1.450 -2.68% 佳明集团控股(01271) 1.150 1.010 -1.94% 百利保控股(00617) 0.270 0.255 -1.92% 环球友饮智能(08496) 0.099 0.098 -1. ...

Investment Rating - The investment rating for the company is "Buy" with a target price of HKD 6.15 [6][7]. Core Views - The company reported a turnaround in profitability in Q2 2025, achieving a revenue of CNY 466.4 billion, a year-on-year increase of 0.4%, and a net profit of CNY 18.8 billion, compared to a loss of CNY 6.7 billion in the same period last year [1][6]. - The company is expected to continue its high-quality growth, particularly in the basic building materials sector, amidst a competitive environment, while the special fiber cloth segment is anticipated to drive growth in the new materials sector [1][6]. Summary by Sections Basic Building Materials Division - In the first half of 2025, the revenue from the basic building materials division was CNY 372.0 billion, a decrease of 8.8% year-on-year, but the profit turned positive with a total profit of CNY 1.6 billion, reflecting a gross margin increase of 7.3 percentage points to 16.1% [2]. - The sales volume of cement and clinker was 97.78 million tons, down 14.1% year-on-year, which is significantly higher than the national average decline of 4.3% [2]. - The average price of cement and clinker was CNY 249.8 per ton, up 3.6% year-on-year, indicating a slight decrease compared to the average price of CNY 250.6 per ton in 2024 [2]. New Materials Division - The new materials division achieved a revenue of CNY 267.6 billion in the first half of 2025, a year-on-year increase of 13.6%, with a gross margin of 23.3%, down 0.4 percentage points [3]. - Sales volumes for fiberglass, wind turbine blades, lithium battery separators, and carbon fiber increased by 1.1%, 102.9%, 59.6%, and 51.2% respectively, while their average prices saw changes of +12.3%, -9.7%, -23.7%, and -16.6% [3]. Engineering Services Division - The engineering services division reported a revenue of CNY 213.1 billion in the first half of 2025, a year-on-year increase of 3.6%, but the overall gross margin decreased by 2.6 percentage points to 16.0% [4]. - The core subsidiary, China National Materials International, signed new orders worth CNY 41.2 billion, an increase of 11% year-on-year, with overseas orders growing by 19% [4]. Profit Forecast and Valuation - The company maintains a profit forecast of CNY 42 billion, CNY 51 billion, and CNY 61 billion for the years 2025 to 2027, respectively, with corresponding EPS of CNY 0.55, CNY 0.68, and CNY 0.80 [5]. - The target price has been raised by 28% to HKD 6.15, based on a P/E ratio of 10.2x for 2025, which is a 15% premium over the historical average [5].

Group 1 - The core viewpoint of the article highlights that China National Building Material (CNBM) reported a slight decline in revenue but achieved a turnaround in profit for the first half of 2025 [1] - For the six months ending June 30, 2025, CNBM's revenue was RMB 83.28 billion, a year-on-year decrease of 0.2% [1] - The company reported a net profit attributable to shareholders of RMB 1.36 billion, marking a return to profitability compared to the previous year [1] Group 2 - In the first half of 2025, China's national cement production reached 815 million tons, the lowest level for the same period since 2010, with a year-on-year decline of 4.3% [1] - The decline in cement production was less severe than the 5.7 percentage point drop observed in the same period of 2024 [1] - The cement industry is actively promoting ecological construction, leading to a recovery in cement prices and a decrease in coal costs, which has contributed to the continuous recovery of industry profitability [1] Group 3 - The total profit of the cement industry for the first half of 2025 was RMB 16.4 billion, indicating a return to profitability compared to the same period in 2024 [1]