消息面上，中国银河证券表示，后续来看，"金九银十"需求有望继续增长，但在终端市场疲软情况下， 预计增幅有限；因考虑到冬季将迎来较长时间错峰停窑，且叠加当下需求边际改善，预计水泥企业将继 续积极推涨水泥价格，此外，煤价存上涨预期，将进一步对水泥价格形成支撑。此外，该行认为，"反 内卷"加速推进行业供给优化，供需矛盾有望缓和，水泥价格存推涨预期，区域龙头企业盈利有望修 复。 来源：金吾财讯 金吾财讯 | 建材水泥股表现强势，截至发稿，中国建材(03323)涨6.32%，华新水泥(06655)涨4.80%，海 螺水泥(00914)涨3.63%，华润建材科技(01313)涨3.33%，金隅集团(02009)涨2.35%，亚洲水泥（中国） (00743)涨1.61%，西部水泥(02233)跌1.54%。 ...

Core Viewpoint - The cement sector in China is showing strong performance, with several companies experiencing significant stock price increases, driven by expectations of demand growth and price support from rising coal prices [1] Group 1: Stock Performance - China National Building Material (03323) increased by 6.32% - Huaxin Cement (06655) rose by 4.80% - Anhui Conch Cement (00914) saw a 3.63% increase - China Resources Cement Technology (01313) grew by 3.33% - Jinyu Group (02009) climbed by 2.35% - Asia Cement (China) (00743) went up by 1.61% - Western Cement (02233) decreased by 1.54% [1] Group 2: Market Outlook - China Galaxy Securities anticipates continued demand growth during the "Golden September and Silver October" period, although the increase may be limited due to weak terminal market conditions [1] - The expectation of a prolonged peak-off kiln shutdown in winter, combined with marginal improvements in demand, suggests that cement companies will actively push for price increases [1] - Rising coal prices are expected to further support cement prices, and the acceleration of "anti-involution" is likely to optimize industry supply, easing supply-demand conflicts [1] - Regional leading enterprises are expected to see a recovery in profitability [1]

Group 1: Market Overview - The Hang Seng Index rose by 1.21%, gaining 308 points to close at 25,749 points, while the Hang Seng Tech Index increased by 1.18% [1] - Hong Kong's stock market saw a trading volume of HKD 158.6 billion in the morning session [1] Group 2: Airline Sector - Airline stocks experienced a collective rise, with growth in passenger traffic during the National Day holiday despite high base effects, indicating potential profit growth for airlines [1] - Eastern Airlines (00670) increased by 5.43%, China National Aviation (00753) rose by 4.06%, and Southern Airlines (01055) gained 3.74% [1] Group 3: Cement Sector - Cement stocks led the market gains, with a rebound expected in prices following a recent decline in several domestic markets [1] - China National Building Material (03323) rose by 6.32%, Conch Cement (00914) increased by 4.13%, and Huaxin Cement (06655) gained 3.78% [1] Group 4: Gold Sector - Lao Pu Gold (06181) surged over 7% as Morgan Stanley reaffirmed its "overweight" rating, citing a clear trend in brand value enhancement [1] - China Rare Earth Holdings (03788) rose over 5% as it completed pre-IPO fundraising and is set to list independently in Hong Kong [1] Group 5: Food and Beverage Sector - Guoquan (02517) saw a rise of over 9% as the restaurant sector's outlook improved, with expectations for store openings in Q4 [2] - Mixue Group (02097) increased by over 6%, with the brand gaining popularity and institutions optimistic about its brand expansion [4] Group 6: Consumer Goods Sector - Pop Mart (09992) rose by 3.6%, with potential to become a world-class cultural IP brand following a special gift to Apple's CEO [3] - Shangmei Co. (02145) increased by over 6%, with strong performance in domestic beauty brands in September and expectations for marginal improvement in Q4 due to the Double 11 shopping festival [3] Group 7: Gold Mining Sector - Shandong Gold (01787) fell over 5% after a profit warning, despite a potential doubling of net profit year-on-year for the first three quarters, with institutions advising caution regarding short-term adjustments in gold prices [5]

Core Viewpoint - Cement stocks have shown significant gains, indicating a positive market sentiment towards the sector [1] Group 1: Stock Performance - China National Building Material (03323.HK) increased by 6.84%, reaching HKD 6.09 [1] - Anhui Conch Cement (00914.HK) rose by 4.21%, trading at HKD 25.26 [1] - Huaxin Cement (06655.HK) saw a 3.66% increase, priced at HKD 17.26 [1] - China Resources Cement Technology (01313.HK) gained 3.3%, with a price of HKD 1.86 [1] - Western Cement (02233.HK) experienced a 2.47% rise, now at HKD 3.32 [1]

Group 1 - The core viewpoint of the news is the significant rise in Hong Kong's building materials and cement stocks, with China National Building Material Corporation (CNBM) reaching a new high since April 2023, driven by improved profit forecasts and cost reductions in cement and concrete sales [1] - CNBM expects a net profit of 2.95 billion yuan for the first three quarters, marking a turnaround from losses, primarily due to decreased sales costs and increased profits from joint ventures [1] - The cement industry is experiencing a traditional off-season in Q3, with expectations of fluctuating cement prices in 2025, while companies like Huaxin Cement and Western Cement continue to expand production capacity [1] Group 2 - Statistics from the China Cement Network indicate that there are currently over 100 announced projects for capacity replacement, adding a total of 34.97 million tons, while 55.82 million tons have been withdrawn, resulting in a net reduction of 20.85 million tons [1] - The net reduction in production capacity is significantly lower than the decline in demand, leading to an exacerbated supply-demand imbalance and indicating poor policy effectiveness [1] - The stock performance of major companies includes CNBM rising by 6.67%, Huaxin Cement by 4.62%, and Conch Cement by 3.63%, reflecting positive market sentiment [2]

Group 1 - Cement stocks have shown significant gains, with China National Building Material (03323) up 6.84% to HKD 6.09, Anhui Conch Cement (00914) up 4.21% to HKD 25.26, and Huaxin Cement (06655) up 3.66% to HKD 17.26 [1] - Recent reports indicate a decline in cement prices across various regions in China, with weak demand in Northeast China and price increases in Northwest regions stabilizing after initial hikes [1] - The cement market in East China saw price increases of 20-30 CNY/ton before the holiday, but most prices have returned to pre-increase levels [1] Group 2 - In September, the national average cement price was 338 CNY/ton, with a slight increase of 2 CNY/ton month-on-month, and the gross profit per ton for cement companies was 58 CNY/ton, up 3 CNY/ton [2] - The cement sector reported revenues of 118.1 billion CNY in H1 2025, a year-on-year decrease of 7.7%, but net profit attributable to shareholders increased by 1487% to 5.2 billion CNY [2] - The industry is expected to see gradual improvement in the second half of the year due to a combination of supply-side production restrictions and demand-side infrastructure support [2]

Group 1 - Cement stocks have shown significant gains, with China National Building Material rising 6.84% to HKD 6.09, Anhui Conch Cement up 4.21% to HKD 25.26, and Huaxin Cement increasing by 3.66% to HKD 17.26 [1] - Recent reports indicate a decline in cement prices across various regions in China, with weak demand in Northeast China and price increases in Northwest regions stabilizing after initial hikes [1] - The cement market in East China saw price increases of 20-30 CNY/ton before the holiday, but most prices have returned to pre-increase levels [1] Group 2 - In September, the national average cement price was 338 CNY/ton, with a month-on-month increase of 2 CNY/ton, and the gross profit per ton for cement companies was 58 CNY, reflecting a month-on-month increase of 3 CNY [2] - The cement sector reported revenues of 118.1 billion CNY in H1 2025, a year-on-year decrease of 7.7%, but net profit attributable to shareholders increased by 1487% to 5.2 billion CNY [2] - The industry is expected to see gradual improvement in the second half of the year due to a combination of supply-side production controls and demand-side infrastructure support [2]

Core Viewpoint - The stock prices of major Chinese cement companies have shown significant increases, indicating positive market sentiment towards the sector [1] Company Performance - China National Building Material (033323.HK) has seen a stock price increase of 7.02% [1] - Conch Cement (00914.HK) has experienced a rise of 3.88% in its stock price [1] - Huaxin Cement (06655.HK) has reported a stock price increase of 3.42% [1]

Group 1 - The core viewpoint of the article highlights a significant rise in Hong Kong's building materials and cement stocks, with China National Building Material (CNBM) reaching a new high since April 2023, increasing by 7% [1] - CNBM is expected to report a net profit of 2.95 billion yuan for the first three quarters, marking a turnaround from losses, primarily due to a decrease in sales costs for cement and ready-mixed concrete [1] - The report from Shenwan Hongyuan indicates that the third quarter is traditionally a slow season for the cement industry, with cement prices expected to peak in 2025 before declining [1] Group 2 - The cement industry is experiencing a supply-demand imbalance, with only about 100 capacity replacement projects announced, adding a total of 34.969 million tons while exiting 55.82 million tons, resulting in a net reduction of 20.851 million tons [1] - The ongoing expansion of production capacity by Huaxin Cement and Western Cement is noted, with profitability in African cement operations expected to improve [1] - The article mentions that the policy effects on the cement supply-demand situation have been poor, exacerbating the existing contradictions in the market [1]

智通财经APP获悉，中国建材(03323)涨超4%，截至发稿，涨4.56%，报5.96港元，成交额2171.87万港 元。 消息面上，中国建材发盈喜，预期集团截至2025年9月30日止九个月未经审核的权益持有人应占利润约 为人民币29.50亿元，而去年同期权益持有人应占亏损约为人民币6.84亿元。上述预期增加主要由于集团 主要产品水泥和商品混凝土的销售成本下降、玻璃纤维的销售价格上升和销售成本下降、风电叶片及涂 料的销量增加、应占联营公司利润上升、以及集团按公允价值于损益账确认的金融资产公允价值变动净 收入增加所致，但部分被水泥的销量下降所抵销。 （原标题：港股异动 | 中国建材(03323)涨超4% 预计前三季度扭亏为盈赚29.5亿元） ...