证券代码：600585 证券简称：海螺水泥 公告编号：2025-23 安徽海螺水泥股份有限公司 关于公司总经理变更的公告 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。 一、总经理离任情况 (一)离任的基本情况 2025 年 8 月 11 日，安徽海螺水泥股份有限公司（以下简称"公司"或"本 公司"）董事会收到执行董事兼总经理李群峰先生的书面辞职报告，李群峰先生 因个人工作变动，申请辞去公司总经理职务，仍继续担任本公司执行董事和本公 司部分附属公司董事职务。 | | 离任 | | | 原定任期 | 离任 | 是否继续在上 | | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 职务 | 离任时间 | | 到期日 | 原因 | 市公司及其控 | 具体职务 | 毕的公开 | | | | | | | | 股子公司任职 | | 承诺 | | | | | | | | | 本公司执行董事 | | | | | | | | | | 海螺国际控 ...

海螺水泥公告，公司董事会于2025年8月11日聘任虞水为总经理，任命自本次董事会决议通过之日起生 效。此前，李群峰因个人工作变动辞去总经理职务，但仍继续担任公司执行董事和部分附属公司董事职 务。 ...

海螺水泥8月11日公告，公司董事会收到执行董事兼总经理李群峰的书面辞职报告，李群峰因个人工作 变动，申请辞去公司总经理职务，仍继续担任公司执行董事和部分附属公司董事职务。公司董事会一致 同意聘任虞水担任公司总经理，任命自本次董事会决议通过之日起生效。 ...

智通财经APP讯，海螺水泥(00914)发布公告，由2025年8月11日起，李群峰先生将不再担任公司的总经 理(即行政总裁)。 董事会决议委任虞水先生担任公司总经理(即行政总裁)，并由2025年8月11日起生效。 ...

格隆汇8月11日丨海螺水泥(00914.HK)发布公告，由2025年8月11日起，李群峰将不再担任公司的总经理 (即行政总裁)。董事会决议委任虞水担任公司总经理(即行政总裁)，并由2025年8月11日起生效。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 安徽海螺水泥股份有限公司 ANHUI CONCH CEMENT COMPANY LIMITED 李先生及董事會均已確認，李先生與董事會並無意見分歧，亦無任何就李先生辭任 （在中華人民共和國註冊成立之股份有限公司） （股份代號：00914） 更換總經理的公告 本公告乃根據《上市規則》第 13.51(2)條規定而作出。 董事會宣佈，由二零二五年八月十一日起，李群峰先生將不再擔任本公司的總經理 （即行政總裁）。董事會決議委任虞水先生擔任本公司總經理（即行政總裁），並由 二零二五年八月十一日起生效。 本公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「《上市規 則》」）第 13.51(2)條規定而作出。 根據中華人民共和國（「中國」）之適用法例及規則，安徽海螺水泥股份有限公司 （「本公司」，連同其附屬公司，合稱「本集團」）將於二零二五年八月十二日在中 國境內指定報章上刊登一則關於本公司更換總經理的公 ...

Investment Rating - The report maintains an "Overweight" rating for the construction materials industry [1] Core Views - The construction materials sector is expected to benefit from increased infrastructure investment, with a notable focus on cement and glass fiber industries as key areas for growth [3][4] - The report highlights a potential recovery in cement prices due to supply-side discipline and government support for infrastructure projects [10][12] - The demand for construction materials is anticipated to improve as consumer confidence returns and government policies stimulate domestic consumption [13] Summary by Sections 1. Industry Overview - The construction materials sector has shown a 1.19% increase in the past week, underperforming compared to the Shanghai Composite Index which rose by 1.23% [3] - The report emphasizes the importance of government investment in infrastructure to stabilize demand in the sector [4] 2. Bulk Construction Materials Fundamentals 2.1 Cement - The national average price for high-standard cement is currently 339.7 CNY/ton, unchanged from last week but down 42.5 CNY/ton compared to the same period last year [3][17] - The average cement inventory level is at 67.4%, with an average shipment rate of 44.0%, indicating a slight decline in demand [24] - The report suggests that if self-discipline measures are effectively implemented, cement prices may begin to rise in late August [10][16] 2.2 Glass Fiber - The report notes a clear trend towards upgrading electronic glass fiber products, with high-end products expected to see increased market penetration [11] - The profitability of ordinary glass fiber remains resilient, supported by growth in domestic demand from sectors like wind power and thermal plastics [11] 2.3 Glass - The glass industry is expected to experience a supply-side contraction, which may improve the short-term supply-demand balance [12] - The report recommends focusing on leading companies in the glass sector that can leverage resource advantages and enjoy excess profits [12] 3. Renovation and Building Materials - The report highlights the potential for increased domestic demand for renovation materials due to government policies aimed at stimulating consumption [13] - It suggests that leading companies in the renovation materials sector are well-positioned to benefit from these trends, with many currently trading at low valuations [13][14]

Core Viewpoint - Transition finance is playing a crucial role in connecting traditional industries with green development, particularly in high-carbon sectors like steel, cement, and chemicals, which are under pressure to reduce carbon emissions [1] Group 1: Transition Finance Initiatives - Postal Savings Bank has implemented three landmark transition finance projects aimed at supporting high-carbon industries in their green transformation [1][7] - The bank's initiatives include innovative financial tools and service models to address funding challenges and technological barriers for traditional industries [1] Group 2: Specific Industry Cases - **Aviation Sector**: Postal Savings Bank's Shanghai branch issued a 290 million yuan sustainable development-linked loan to Juneyao Airlines, incentivizing the airline to reduce carbon emissions by linking interest rates to its CO2 emissions performance [2] - **Coking Industry**: The bank's Shanxi branch provided a 100 million yuan transition finance loan to Jinding Steel Group, marking the first transition loan in the coking sector, aimed at supporting the company's green transformation goals [3][4] - **Cement Industry**: The bank's Anhui branch issued a 30 million yuan transition finance loan to Chizhou Conch Cement, facilitating the company's efforts in energy efficiency upgrades and pollution control technologies [5][6] Group 3: Expected Outcomes - The initiatives are projected to significantly reduce carbon emissions, with Juneyao Airlines expected to cut CO2 emissions by approximately 28,600 tons by 2025 [2] - Jinding Steel Group aims to reduce emissions by 6,055 tons through the implementation of advanced coking technologies and environmental upgrades [4] - Chizhou Conch Cement is set to enhance its production efficiency and lower carbon intensity through various technological advancements [6] Group 4: Strategic Approach - Postal Savings Bank is aligning its transition finance strategy with national carbon reduction goals, employing a dual approach that incorporates both national and local standards to cater to diverse industry needs [7]

Investment Rating - The report maintains an "Overweight" rating for the construction materials industry [2]. Core Insights - The construction materials sector is experiencing a dual boost from urban renovation demands and supply restrictions due to the "anti-involution" trend, leading to sustained growth in the cement sector [6][35]. - The report highlights the strong demand for specialty electronic fabrics, driven by upgrades in cloud manufacturing, and recommends companies like Zhongcai Technology and Huazhong Technology [6]. - Cement prices are expected to stabilize and potentially rise due to self-regulatory measures in the industry, with recommendations for companies such as Conch Cement and Huaxin Cement [6][35]. Summary by Sections Industry Overview - The construction materials industry consists of 73 listed companies with a total market value of 807.18 billion yuan and a circulating market value of 761.71 billion yuan [2]. Key Companies and Performance - Key companies include: - Beixin Building Materials: EPS forecast for 2024A is 2.2 yuan, with a PE ratio of 12.2, rated as "Buy" [4]. - Conch Cement: EPS forecast for 2024A is 1.5 yuan, with a PE ratio of 16.7, rated as "Buy" [4]. - China Jushi: EPS forecast for 2024A is 0.6 yuan, with a PE ratio of 20.2, rated as "Buy" [4]. - Weixing New Materials: EPS forecast for 2024A is 0.6 yuan, with a PE ratio of 17.9, rated as "Buy" [4]. - Sankeshu: EPS forecast for 2024A is 0.5 yuan, with a PE ratio of 87.9, rated as "Overweight" [4]. - Huaxin Cement: EPS forecast for 2024A is 1.2 yuan, with a PE ratio of 14.0, rated as "Buy" [4]. Market Trends - The report notes that the cement market is currently stable, with an average shipment rate of 44% across key regions, and prices have reached or fallen below cost lines in many areas [35]. - The report emphasizes the importance of self-regulatory measures to alleviate operational pressures and suggests that if effectively implemented, cement prices may begin to rise [35]. Recommendations - The report recommends increasing allocations in construction materials, particularly in cement and specialty electronic fabrics, highlighting companies that are expected to benefit from ongoing market trends and regulatory changes [6][35].

Core Insights - The report highlights that in 2024, the total salary of A-share listed company secretaries reached 4.086 billion yuan, with an average annual salary of 720,000 yuan, indicating a significant role in capital operations [1][3] - Among the cement industry, 73 listed companies disclosed their secretaries' information, with 20 being cement companies [1] - The average age of cement company secretaries is 47 years, with 58.3% aged between 40-50 years, and only 8.3% aged between 30-40 years [1] - The educational background shows that 58.3% of cement company secretaries hold a bachelor's degree, while 33.3% have a master's degree [2] Salary and Employment Trends - The average annual salary for cement company secretaries is 712,000 yuan, which is higher than the average salary of 666,100 yuan in the building materials industry, but has decreased by 16.2% year-on-year [3] - The median salary for these secretaries is 751,500 yuan, with the highest salary being 1.6187 million yuan, significantly higher than the second highest at 1.348 million yuan [3] - Male secretaries earn an average of 734,200 yuan, which is over 70,000 yuan more than their female counterparts [3] Tenure and Compliance - The majority of cement company secretaries have a short to medium tenure, with 33.3% serving between 3-5 years and 20.8% having less than 1 year [1] - In 2024, one secretary from a cement company was reported for non-compliance, specifically related to inaccurate goodwill impairment testing [3]