Group 1 - The Shenzhen Composite Index fell by 1.22% and the ChiNext Index dropped by 1.83% as of 11:30 AM on January 20, indicating a bearish trend in the market [1] - Notable stock performances included Nanshan Aluminum rising over 7%, Satellite Chemical and Conch Cement increasing by over 5%, and several other companies like Gujia Home, China Chemical, and Oppein Home gaining over 4% [1] Group 2 - The cash flow ETF managed by Harvest (159221) decreased by 0.08%, with a trading volume of 10.194 million yuan and a turnover rate of 1.29% [2] - There is an increasing market demand for high-dividend and stable cash flow assets, as funds are rotating from momentum-driven bubbles to high-value opportunities under the current "slow bull" market in A-shares [2] - The cash flow index, which includes non-ferrous metals and basic chemicals, benefits from the pricing of physical assets and high operating rates, showing significant cyclical alpha characteristics [2] - During the 14th Five-Year Plan, the State Grid is expected to invest 4 trillion yuan in fixed assets, a 40% increase compared to the previous plan, which directly benefits index components related to grid equipment and energy [2]

Group 1 - The main market experienced a net outflow of 87.896 billion yuan in principal funds as of January 20 [1] - The top ten sectors with inflows of principal funds included: Banking (1.463 billion yuan), Engineering Construction (0.882 billion yuan), Insurance (0.628 billion yuan), Securities (0.571 billion yuan), Real Estate Development (0.462 billion yuan), Logistics (0.366 billion yuan), Fertilizer Industry (0.349 billion yuan), Cement and Building Materials (0.321 billion yuan), Real Estate Services (0.289 billion yuan), and Alcohol Industry (0.272 billion yuan) [1] Group 2 - The Insurance sector saw an inflow of 0.628 billion yuan, with China Ping An being a notable company [2] - The Securities sector had an inflow of 0.571 billion yuan, with Guotai Junan being a notable company [2] - The Real Estate Development sector recorded an inflow of 0.462 billion yuan, with Hefei Urban Construction being a notable company [2] - The Fertilizer Industry had an inflow of 0.349 billion yuan, with Salt Lake Co. being a notable company [3] - The Cement and Building Materials sector saw an inflow of 0.321 billion yuan, with Conch Cement being a notable company [3] - The Real Estate Services sector recorded an inflow of 0.289 billion yuan, with Wo Ai Wo Jia being a notable company [3] - The Alcohol Industry had an inflow of 0.272 billion yuan, with Luzhou Laojiao being a notable company [3]

Group 1 - The construction materials sector is experiencing a significant upward trend, with multiple companies reaching their daily price limits [1] - Jiuding New Materials has achieved a consecutive two-day limit increase, indicating strong market performance [1] - Other companies such as Hanjian Heshan, Zhite New Materials, and several others including Conch Cement, Oriental Yuhong, Sankeshu, Beixin Building Materials, and Weixing New Materials are also showing positive price movements [1]

Group 1 - The construction materials sector is experiencing a significant upward trend, with multiple companies reaching new highs [1] - Zhizhi New Materials has hit the daily limit up of 20%, marking a record high [1] - Other companies such as Jiuding New Materials and Hanjian Heshan have also seen consecutive gains, with Hanjian Heshan hitting the daily limit up [1] Group 2 - Companies like Conch Cement, Oriental Yuhong, Sankeshu, Beixin Building Materials, and Weixing New Materials are also witnessing increases in their stock prices [1]

来源：中国能源网 中邮证券近日发布建材行业周报：年末全国市场逐步进入淡季，整体来看，全国需求仍呈现下滑态势， 房建市场持续疲弱，基建需求在政策驱动下呈现区域分化明显，民用市场相对需求刚性。从中期维度来 看，水泥行业产能有望在限制超产政策下产能持续下降，产能利用率从而大幅提升带来利润弹性。关 注：海螺水泥、华新建材。 以下为研究报告摘要： 消费建材：行业目前盈利已触底，价格经历多年竞争目前已无向下空间，此次借助反内卷政策行业对提 价及盈利改善诉求强烈，25年防水、涂料、石膏板等多品类持续发布提价函，行业盈利有望触底26年可 期待龙头企业的盈利改善。关注：东方雨虹、三棵树、北新建材、兔宝宝。 上周行情回顾 过去一周（01.12–01.18）主要指数涨跌幅情况：申万建筑材料行业指数（-0.67%），上证指数 （-0.45%），深证成指（+1.14%），创业板指（+1.00%），沪深300（-0.57%）。在申万31个一级子行 业指数中，建筑材料涨跌幅排名居第18位。 风险提示： 反内卷政策落地不及预期，地产及基建需求超预期下行风险。（中邮证券 赵洋） 投资要点 水泥：年末全国市场逐步进入淡季，整体来看，全国需求仍呈 ...

香港联交所最新资料显示，1月14日，Invesco Asset Management Limited增持海螺水泥（00914）190.75 万股，每股作价23.0824港元，总金额约为4402.97万港元。增持后最新持股数目为9274.6万股，最新持 股比例为7.13%。 香港联交所最新资料显示，1月14日，Invesco Asset Management Limited增持海螺水泥（00914）190.75 万股，每股作价23.0824港元，总金额约为4402.97万港元。增持后最新持股数目为9274.6万股，最新持 股比例为7.13%。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 ...

| 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | --- | --- | --- | --- | --- | --- | | | 原因 | 股份數目 | | (請參閱上述 * 註 | 有投票權股 (日 / 月 / 年) * | | | | | | | 份自分比 | | | | | | | 1961 | | CS20260119E00160 | Invesco Asset Management (101(L) 1.907,500(L) | | HKD 23.0824 | 92.746.000(L) | 7.13(L)14/01/2026 | | | Limited | | | | | 格隆汇1月20日丨根据联交所最新权益披露资料显示，2026年1月14日，海螺水泥(00914.HK)获Invesco Asset Management Limited在场内以每股均价23.0824港 元增持190.75万股，涉资约4403万港元。 增持后，Invesco Asset Management Limi ...

（文章来源：证券日报） 证券日报网讯 1月19日，海螺水泥在互动平台回答投资者提问时表示，在当前数字化转型的背景下，公 司积极推进AI应用，联合华为发布行业首个水泥建材AI大模型，并在质量管控、生产环节优化、装备 管理、安全生产等领域充分发挥效能，助力公司实现降本增效、提质升级，为企业高质量发展注入新动 能。目前，AI大模型的应用场景正在持续推广和优化。 ...

Core Viewpoint - The company is committed to strengthening its core cement business while pursuing high-quality diversified development strategies in response to new industry trends [1] Group 1: Cement Business Focus - The company aims to enhance its cement core business by seizing industry consolidation opportunities and optimizing its layout [1] - The company plans to accelerate the implementation of overseas projects to solidify its core competitive advantages [1] Group 2: Industry Chain Extension - The company is focused on deepening its industry chain extension by advancing aggregate, commercial concrete, and consumer building materials projects [1] - The goal is to provide customers with a one-stop comprehensive building material solution [1] - The company is committed to developing green and low-carbon building materials, aligning with the green development philosophy [1] Group 3: Expansion into Emerging Industries - The company intends to expand into emerging industries such as new energy, environmental protection, and digitalization [1] - This expansion aims to empower the cement core business and achieve quality improvement, efficiency enhancement, and sustainable development [1]

香港联交所最新资料显示，1月14日，Invesco Asset Management Limited增持 海螺水泥 (00914)190.75万 股，每股作价23.0824港元，总金额约为4402.97万港元。增持后最新持股数目为9274.6万股，最新持股 比例为7.13%。 ...