Core Insights - Ningxia Building Materials reported a third-quarter revenue of 1.49 billion yuan, a year-on-year decrease of 39.75% [1] - The net profit for the third quarter was 116 million yuan, reflecting a year-on-year decline of 2.16% [1] - For the first three quarters, the total revenue was 4.045 billion yuan, down 40.27% year-on-year [1] - The net profit for the first three quarters was 221 million yuan, showing a year-on-year increase of 29.62% [1] Financial Performance - Third-quarter revenue: 1.49 billion yuan, down 39.75% year-on-year [1] - Third-quarter net profit: 116 million yuan, down 2.16% year-on-year [1] - First three quarters revenue: 4.045 billion yuan, down 40.27% year-on-year [1] - First three quarters net profit: 221 million yuan, up 29.62% year-on-year [1]

Market Overview - The cement sector increased by 0.24% on October 20, with Hanjian Heshan leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Individual Stock Performance - Hanjian Heshan (603616) closed at 5.30, up 2.51% with a trading volume of 105,700 shares and a turnover of 55.47 million yuan [1] - Fujian Cement (600802) closed at 5.75, up 1.77% with a trading volume of 187,500 shares and a turnover of 108 million yuan [1] - Other notable performers include Sanhe Yingshao (003037) at 8.00 (+1.65%), Longquan Co. (002671) at 5.09 (+1.19%), and Xibu Construction (002302) at 6.97 (+1.16%) [1] Capital Flow Analysis - The cement sector experienced a net outflow of 121 million yuan from institutional investors, while retail investors saw a net inflow of 102 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Detailed Capital Flow for Selected Stocks - Conch Cement (600585) had a net inflow of 18.35 million yuan from institutional investors, but a net outflow of 5.47 million yuan from retail investors [3] - Jinyu Group (000401) saw a significant net inflow of 10.42 million yuan from institutional investors, while retail investors had a net outflow of 13.28 million yuan [3] - Qing Song Jianhua (600425) reported a net inflow of 8.90 million yuan from institutional investors, with retail investors also experiencing a net outflow of 12.95 million yuan [3]

Core Viewpoint - The company will hold a performance briefing on October 24, 2025, to discuss its Q3 2025 results and address investor questions [2][3][4]. Group 1: Meeting Details - The performance briefing is scheduled for October 24, 2025, from 15:00 to 16:00 [2][4]. - The meeting will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [2][5]. - Investors can submit questions from October 17 to October 23, 2025, through the Roadshow Center website or via the company's email [2][5]. Group 2: Participants - Key participants in the meeting will include the company's Chairman Wang Yulin, Independent Director and Audit Committee Chairman Luo Libang, CFO Liang Luan, and Board Secretary Lin Fengping [4]. Group 3: Investor Participation - Investors can join the performance briefing online on October 24, 2025, and the company will respond to questions during the session [5][6]. - A pre-collection of questions is available for investors to engage with the company prior to the meeting [5]. Group 4: Contact Information - The company’s Securities Legal Affairs Department can be contacted for inquiries via phone or email [6].

股票代码：600449 股票简称：宁夏建材 公告编号：2025-020 宁夏建材集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 17 日至 10 月 23 日 16:00 前登录上证路演中心网 站首页点击"提问预征集"栏目或通过公司邮箱 ningxiajiancai@163.com 进行 提问。公司将在说明会上对投资者普遍关注的问题进行回答。 宁夏建材集团股份有限公司（以下简称公司）将于 2025 年 10 月 21 日发布 公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第 三季度经营成果、财务状况，公司计划于 2025 年 10 月 24 日下午 15:00-16:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 （二） 会议召开地点：上证路演中心 （三） 会议召开方式：上证路演中心网络互动 三、 ...

Group 1 - The cement sector experienced a decline of 2.52% on October 16, with Tibet Tianlu leading the drop [1] - The Shanghai Composite Index closed at 3916.23, up 0.1%, while the Shenzhen Component Index closed at 13086.41, down 0.25% [1] - Individual stock performance in the cement sector varied, with notable movements including Huanzi House rising by 1.78% and other companies like Jinyu Modong and Ningxia Building Materials declining by 0.59% and 0.74% respectively [1] Group 2 - The cement sector saw a net outflow of 710 million yuan from main funds, while retail investors contributed a net inflow of 663 million yuan [2] - Specific stock fund flows indicated that Hainan Ruize had a main fund net inflow of 20.83 million yuan, while companies like Ningxia Building Materials and Jianfeng Group experienced minor inflows and outflows [2] - The overall trend showed that retail investors were more active in the cement sector, with significant net inflows despite the main funds pulling back [2]

Investment Rating - The investment rating for the building materials industry is "Overweight" [70] Core Insights - The overall ESG scores for the 11 central enterprises in the building materials sector are good, with strengths in climate change response and social responsibility, while governance performance varies among companies [10][58] - The importance assessment shows that 10 companies have completed dual importance assessments, but third-party verification is lacking, with only one company introducing third-party validation [13][15] - Environmental and climate issues are prioritized, with scores ranging from 24 to 34 out of 35, indicating a strong focus on compliance and green transformation [17][18] - Social responsibility is highlighted through initiatives in rural revitalization and public welfare, with all companies demonstrating a strong commitment to social responsibility [44][47] - Governance structures are generally well-established, with most companies scoring high in governance mechanisms, although there is room for improvement in ESG information supervision [58][65] Summary by Sections Overall Performance - The ESG scores for the 11 central enterprises are generally above 70, with 2 companies scoring above 90, 5 between 80-89, 3 between 70-79, and 1 between 60-69 [10][12] Importance Assessment - 10 companies disclosed importance assessments, with a focus on financial performance-related issues, but only one company provided third-party verification [13][15] Environmental & Climate - The total scores for environmental and climate issues range from 24 to 34, with 7 companies scoring between 30-34, indicating a strong emphasis on both environmental compliance and climate disclosure [17][18] - All companies disclosed their waste management practices, with a 100% disclosure rate for waste treatment [20] Social Responsibility - All 11 companies disclosed their social responsibility initiatives, particularly in rural revitalization and public welfare, demonstrating a strong commitment to social issues [44][47] Governance - Governance scores are concentrated in the mid to high range, with 9 out of 11 companies achieving high scores in governance structure [58][65] - Most companies have established effective governance mechanisms, but there is a need for improved transparency in ESG information supervision [58][65]

Investment Rating - The report rates the central state-owned enterprises in the building materials industry as "Positive" [2] Core Insights - The overall ESG scores of the 11 central state-owned enterprises in the building materials sector are good, with strengths in climate change response and social responsibility, while governance performance varies among companies [4][12] - The scoring results show that 2 companies scored above 90, 5 companies scored between 80-89, 3 companies scored between 70-79, and 1 company scored between 60-69, with no companies scoring below 60 [12] - The report emphasizes the importance of ESG performance in the context of increasing regulatory requirements and market expectations [4] Summary by Sections 1. Overall Scores and Areas for Improvement - The ESG scores of the 11 central state-owned enterprises are generally good, with climate change and social responsibility being strong points, while governance disclosures need improvement [12] 2. Importance Assessment - 10 out of 11 companies disclosed importance assessments, indicating a high level of awareness regarding issues related to their financial performance [15][17] - Only 1 company included third-party verification in their ESG report, highlighting a gap in external validation [15][17] 3. Environmental & Climate Focus - The total scores for "environment + climate change" range from 24 to 34 (out of 35), with 7 companies scoring between 30-34, indicating a strong focus on these issues [20] - All companies disclosed their waste management practices, with a 100% disclosure rate for "three wastes" [24] 4. Social Responsibility - All 11 companies disclosed their contributions to rural revitalization and social welfare, reflecting a strong commitment to social responsibility [53][56] - Most companies provided detailed accounts of their funding, project execution, and social impact [53] 5. Governance Structure - The governance scores are primarily in the mid to high range, with 9 out of 11 companies achieving full marks in three governance areas [68] - Most companies have established robust governance mechanisms, but disclosures regarding ESG information supervision are still lacking [68][71] 6. Climate Management - 8 companies have established climate management frameworks, but there is a need for improved transparency and quantification in risk management [49] - All companies disclosed their climate-related targets, focusing on carbon reduction and energy efficiency [50]

Core Insights - Ningxia Building Materials has transformed from a local cement company with a capacity of 1 million tons to the largest cement enterprise in Ningxia and the Northwest region, achieving growth in cement capacity, revenue, and net profit by two to three times over 22 years [1][4] Group 1: Financial Performance - In the first half of this year, Ningxia Building Materials reported a net profit attributable to the parent company of 106 million yuan, a significant increase of 101.24% year-on-year; the net profit after deducting non-recurring gains and losses reached 76.45 million yuan, up 168.35% year-on-year [6] - The company has expanded its product line and enhanced its core business through the "Cement+" industry chain, which includes oil well cement, solidification materials, concrete, and aggregates, with concrete capacity at 11.17 million cubic meters and aggregate capacity at 11 million tons [6] Group 2: Strategic Development - Since its listing in 2003, the company has utilized capital markets for financing, gradually expanding its cement business through new construction and mergers, overcoming regional limitations and forming a cross-regional cement group with total assets exceeding 10 billion yuan [6] - The company has established 20 subsidiaries and is implementing a "going out" strategy, expanding production capacity in Ningxia and neighboring provinces [6] Group 3: Product Innovation and Quality - Ningxia Building Materials has developed a range of new products, including C100 high-performance concrete and various specialized concretes, to address industry challenges such as overcapacity and demand shrinkage [7] - The company emphasizes product quality and has a well-known product, "Saimar" cement, recognized as a famous Chinese trademark, used in major infrastructure projects [7] Group 4: Environmental and Technological Initiatives - The company is focusing on high-end, green, and intelligent development to create a competitive advantage in the traditional cement industry, which faces challenges from overcapacity and environmental regulations [8] - Ningxia Building Materials has made significant progress in technology empowerment, including the use of alternative raw materials and waste utilization, and has received certifications for "green building materials" and "low-carbon products" [8][9] Group 5: Digital Transformation - The "I Find Car" platform, developed by Ningxia Building Materials, is the first digital logistics platform in China's building materials industry, addressing logistics challenges and enhancing service efficiency [10] - The company is also building a green data center to support the digital economy, with a focus on creating new production capabilities [11] Group 6: Shareholder Returns - The company has consistently paid cash dividends to investors, distributing a total of 2 billion yuan in dividends, with a payout ratio exceeding 30% of the net profit attributable to the parent company over the past decade, and over 40% in the last two years [11]

王玉林 宁夏建材数据中心 ◎记者 于瑶 作为中国建材旗下的A股上市公司，宁夏建材上市22年来，从原来产能只有100万吨的地方水泥企业， 成长为宁夏最大的水泥企业及西北地区最大的混凝土、骨料生产企业，水泥产能、营业收入、净利润等 专注主业 做强"水泥+"产业链 今年上半年，宁夏建材实现归属于母公司所有者的净利润1.06亿元，同比大幅增加101.24%；扣除非经 常性损益的净利润达到7645万元，同比增长168.35%。 这样一个亮眼的业绩，主要来源于"水泥+"产业链的强力支撑。"我们的主营业务是水泥，这些年来也一 直专注做强做优水泥，产能扩大的同时，以'水泥+'延伸产业链，加快发展油井水泥、固井材料、混凝 土、骨料等产业，目前混凝土产能1117万方，骨料产能1100万吨，固井材料产能100万吨。"王玉林说。 自2003年上市以来，宁夏建材充分利用资本市场进行融资，通过新建、并购重组等方式逐步壮大水泥主 业，突破宁夏地域小、人口少的限制，形成了一个跨区域水泥集团。 "我们通过新建和并购重组壮大水泥主业，旗下已拥有20家企业，并加快实施'走出去'战略，在宁夏五 市及甘肃、内蒙古等省区布局产能，公司总资产突破了100 ...

Market Overview - The Shanghai Composite Index closed at 3819.32 points, with a gain of 0.32%, and the total trading volume of A-shares reached 1,641.14 billion yuan [1] - As of the current date, 29 A-shares have surpassed their annual moving average, indicating positive market sentiment [1] Notable Stocks - The stocks with the highest deviation rates from their annual moving average include: - Luopuskin (002333) with a deviation rate of 8.13% and a daily increase of 9.94% [1] - ST Huaxi (002630) with a deviation rate of 4.11% and a daily increase of 4.88% [1] - Wutong Holdings (300292) with a deviation rate of 3.67% and a daily increase of 5.35% [1] - Other stocks that have just crossed their annual moving average with lower deviation rates include: - Jiecheng Co. (300182) with a deviation rate of 0.04% and a daily increase of 1.60% [2] - Ganyue Expressway (600269) with a deviation rate of 0.05% and a daily increase of 0.40% [2] - Guangsha Huaneng (873703) with a deviation rate of 0.06% and a daily increase of 0.96% [2] Trading Activity - The trading turnover rate for notable stocks shows significant activity, with Luopuskin (002333) having a turnover rate of 3.79% and ST Huaxi (002630) at 6.77% [1] - The overall trading environment reflects a mix of high and low turnover rates among stocks that have recently crossed their annual moving averages [1][2]