来源：新浪港股 据香港联交所最新数据显示，10月15日，Conch International Holdings（HK）Limited减持华新水泥 （06655）838.06万股，每股作价17.3102港元，总金额约为1.45亿港元。减持后最新持股数目约为 6351.53万股，持股比例为8.64%。 ...

本次交易涉及关联方：中国海螺创业控股有限公司、安徽海螺水泥股份有限公司、安徽海螺集团有限责 任公司、芜湖海创实业有限责任公司。 智通财经APP获悉，据香港联交所最新数据显示，10月15日，Conch International Holdings(HK)Limited减 持华新水泥(06655)838.06万股，每股作价17.3102港元，总金额约为1.45亿港元。减持后最新持股数目约 为6351.53万股，持股比例为8.64%。 ...

本次交易涉及关联方：中国海螺创业控股有限公司、安徽海螺水泥（600585）股份有限公司、安徽海螺 集团有限责任公司、芜湖海创实业有限责任公司。 据香港联交所最新数据显示，10月15日，Conch International Holdings(HK)Limited减持华新水泥 （600801）(06655)838.06万股，每股作价17.3102港元，总金额约为1.45亿港元。减持后最新持股数目约 为6351.53万股，持股比例为8.64%。 ...

本次交易涉及关联方：中国海螺创业控股有限公司、安徽海螺水泥股份有限公司、安徽海螺集团有限责 任公司、芜湖海创实业有限责任公司。 智通财经APP获悉，据香港联交所最新数据显示，10月15日，Conch International Holdings(HK)Limited减 持华新水泥(06655)838.06万股，每股作价17.3102港元，总金额约为1.45亿港元。减持后最新持股数目约 为6351.53万股，持股比例为8.64%。 ...

Group 1 - The core viewpoint is that the cement industry is facing significant operational pressure due to low prices, despite a mild recovery in market demand and ongoing production adjustments by companies [1][2] - To improve profitability, cement companies are actively raising prices, with some leading firms in Zhejiang planning to increase prices by 30 yuan/ton starting October 15 [2] - The national average cement price in September was 338 yuan/ton, showing a slight month-on-month increase, while the gross profit per ton for cement companies was 58 yuan, indicating a positive trend in the industry [2][3] Group 2 - In the first half of 2025, the cement sector achieved revenues of 118.1 billion yuan, a year-on-year decrease of 7.7%, but net profit increased significantly by 1487% to 5.2 billion yuan [3] - The cement industry's fundamentals may have reached a turning point, with supply-side production restrictions and demand-side infrastructure support expected to lead to gradual improvements in the second half of the year [3] - Related Hong Kong-listed companies in the cement and building materials sector include China National Building Material, Conch Cement, Huaxin Cement, China Resources Cement Technology, and Western Cement [4]

Group 1 - The core viewpoint is that the cement industry is facing significant operational pressure due to low prices and fluctuating demand, prompting companies to raise prices to improve profitability [1][2]. - The Ministry of Industry and Information Technology, along with other departments, has issued a plan to stabilize growth in the building materials industry, which includes strict control over cement and glass production capacity [1]. - In Zhejiang, there has been a slight recovery in market demand, but prices remain low, leading to increased operational pressure for companies [1]. Group 2 - In September, the national average cement price was 338 yuan/ton, with a month-on-month increase of 2 yuan/ton, and the gross profit per ton for cement companies was 58 yuan, up by 3 yuan [2]. - The cement sector reported revenues of 118.1 billion yuan in the first half of 2025, a year-on-year decrease of 7.7%, but net profit increased significantly by 1487% to 5.2 billion yuan [2]. - Analysts believe that the cement industry's fundamentals may have reached a turning point, with expectations of gradual improvement in the second half of the year due to supply-side restrictions and demand support from infrastructure projects [2]. Group 3 - Related Hong Kong-listed companies in the cement and building materials sector include China National Building Material, Conch Cement, Huaxin Cement, China Resources Cement Technology, and Western Cement [3].

Core Insights - The cement sector experienced a 2.26% increase on October 15, with Huaxin Cement leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Cement Sector Performance - Huaxin Cement (600801) closed at 21.28, up 6.45% with a trading volume of 411,100 shares and a transaction value of 864 million [1] - Other notable performers include: - Qingsong Jianhua (600425) at 4.92, up 2.71% with a transaction value of 409 million - Conch Cement (600585) at 24.49, up 2.47% with a transaction value of 1.253 billion [1] - The overall trading volume and transaction values for various cement stocks indicate strong market activity [1][2] Capital Flow Analysis - The cement sector saw a net inflow of 349 million from institutional investors, while retail investors experienced a net outflow of 243 million [2] - Specific stock capital flows include: - Conch Cement with a net inflow of 250 million from institutional investors [3] - Huaxin Cement with a net inflow of approximately 41.69 million from institutional investors [3] - The data indicates a divergence in capital flow, with institutional investors showing confidence while retail investors withdrew [2][3]

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%。 来源：金吾财讯 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。 ...

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]