近5日融资融券数据一览见下表： 证券之星消息，截至2025年8月6日收盘，中材国际(600970)报收于9.12元，下跌0.22%，换手率0.47%， 成交量10.54万手，成交额9601.54万元。 8月6日的资金流向数据方面，主力资金净流出1247.53万元，占总成交额12.99%，游资资金净流入 477.06万元，占总成交额4.97%，散户资金净流入770.47万元，占总成交额8.02%。 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净占比 散户净流入 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-06 | 9.12 | -0.22% | -1247.53万 | -12.99% | 477.06万 | 4.97% | 770.47万 | - 8.02% | | 2025-08-05 | | 9.14 0.77% | ● 454.56万 | 4.49% | -713.11万 | -7.04% | 258.55万 | 2.55% | | ...

Investment Rating - The report maintains a positive outlook on industry leaders with low valuations, particularly China Chemical [1][3]. Core Viewpoints - The construction and building materials industry is currently at the bottom of its economic cycle, with expectations for stabilization and recovery due to supportive government policies [1][2]. - Recent government meetings emphasized the need for high-quality investment and the activation of private investment, which could enhance the industry's outlook [1]. - The report highlights the recent approval of two coal-to-natural gas projects in Xinjiang, marking a significant step towards low-carbon and clean development in the coal chemical industry [1]. Market Overview - As of August 1, 2025, the newly issued local government special bonds amounted to 183.204 billion yuan, a week-on-week decrease of 10.82% [2]. - In July, the total new local government special bonds issued reached 616.936 billion yuan, a month-on-month increase of 17.04% and a year-on-year increase of 119.18% [2]. - The construction index fell by 2.51% and the building materials index fell by 3.32% during the week of July 28 to August 1, 2025 [10]. Cement Market Analysis - National cement prices continued to decline, with a week-on-week drop of 0.3% as of August 1, 2025 [41]. - The average national cement price was 339.7 yuan per ton, with significant regional variations [46]. - The report anticipates a stabilization in cement prices in the short term, despite current demand not showing significant improvement [41]. Company Performance and Valuation - The report strongly recommends focusing on major construction blue-chip stocks such as China Communications Construction, China Railway Construction, and China State Construction [3]. - The construction sector's overall valuation is at a historical low, with the current price-to-earnings (P/E) ratios for the construction and building materials sectors at 8.72 and 19.67, respectively [18]. - Key companies in the construction sector are experiencing varying growth rates in new orders, with China Railway Construction showing a decline in order growth in recent quarters [63].

Investment Rating - Industry Rating: Outperform the market (maintained rating) [5] Core Viewpoints - The "anti-involution" trend is driving quality upgrades in the industry, emphasizing investment opportunities in specialized engineering companies. This trend is expected to improve corporate profitability and increase capital expenditures in green and low-carbon transformations, benefiting specialized engineering firms [1][19][32] - The government is focusing on innovation-driven and green transformation, which is broader than the supply-side structural reforms of 2015. This includes enhancing industry self-discipline and optimizing supply structures through technological upgrades [2][13] Summary by Sections Industry Performance - The construction index fell by 2.5% in the week of July 28 to August 1, underperforming the broader market by 1.3 percentage points. Only the architectural design and services sub-sector maintained an upward trend, with notable individual stock gains [4][26] Investment Recommendations - Key investment opportunities include: 1. Cement Engineering: China National Materials (high dividend cement engineering leader, expected dividend yield over 5% in 2025) [19] 2. Metallurgical Engineering: China Steel International (low-carbon metallurgical engineering leader, expected dividend yield of 5.5% in 2025) [19] 3. Steel Structure Manufacturing: Honglu Steel Structure, Jinggong Steel Structure [19] 4. Chemical Engineering: China Chemical, Sanwei Chemical, Donghua Technology, benefiting from rising chemical product prices [19] Key Indicators - As of August 1, 2025, the cement shipment rate was 30%, down 13 percentage points from the previous week, while the asphalt plant operating rate was 33.1%, up 4.3 percentage points [3][20] Structural Changes and Opportunities - The report highlights the importance of focusing on infrastructure investments in regions with high demand, such as Sichuan, Zhejiang, Anhui, and Jiangsu, and recommends local state-owned enterprises and central enterprises involved in major infrastructure projects [32][35] Emerging Trends - The report suggests that the nuclear power sector remains highly attractive, with ongoing investments, and highlights the potential of AI and digital technologies in transforming traditional industries [34][36] Specialized Engineering Investment Targets - The report lists specific companies in specialized engineering fields, including: - China National Materials (Cement) - China Steel International (Metallurgy) - Honglu Steel Structure (Steel Structure) - China Chemical (Chemicals) [20] Conclusion - The overall sentiment is positive towards the construction and specialized engineering sectors, driven by government policies aimed at enhancing industry quality and profitability through technological and structural upgrades [1][19][32]

Group 1 - The core point of the article highlights the financing activities of Zhongcai International, indicating a net selling position on August 1, with a total financing buy amount of 0.11 billion yuan and a net sell of 0.2927 million yuan [1] - Over the last three trading days, Zhongcai International experienced financing buy amounts of 0.34 billion yuan, 0.21 billion yuan, and 0.11 billion yuan respectively [1] Group 2 - In terms of securities lending, on the same day, there were 0.02 thousand shares sold short and a net purchase of 0.08 thousand shares [2]

Core Insights - The construction industry is expected to outperform the market in the second half of 2025, driven by improvements in asset quality and a potential recovery in demand [1][4] - Downstream demand remains weak, leading to accelerated balance sheet contraction among construction companies [1][4] - Infrastructure investment is anticipated to become a key driver for expanding domestic demand and stabilizing growth [3][4] Summary by Sections Industry Performance - In the first half of 2025, the total contract amount for new projects in the construction industry reached 25 trillion yuan, a year-on-year increase of 22.5%, although still significantly lower than levels in 2022-2023 [1][30] - The industry is experiencing a decline in new orders and revenue, but signs of a profitability turning point are emerging as some local construction companies accelerate the collection of receivables and repay existing debts [1][4] Inventory Cycle Perspective - The construction industry is nearing the end of a "passive inventory replenishment" phase, characterized by a lagged response of inventory fluctuations to changes in downstream demand [2][77] - Since 2021, the industry has entered a phase of passive inventory accumulation due to prolonged project repayment cycles and a concentration of PPP projects transitioning to operational phases [2][82] Infrastructure Investment - Infrastructure investment is seen as a critical measure to expand domestic demand and stabilize economic growth, especially in light of pressures on price indicators and the need for effective investment [3][4] - The government is expected to increase fiscal support for infrastructure projects, particularly in areas related to public welfare and energy security [3][4] Investment Recommendations - The report maintains a positive outlook for the construction sector in the second half of 2025, suggesting that asset quality improvements will align with demand recovery [4] - Recommended stocks include Yaxiang Integration, Zhongyan Dadi, China Railway Construction, and others, which are expected to benefit from the anticipated recovery in infrastructure investment [4][8]

登录新浪财经APP 搜索【信披】查看更多考评等级 专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪财经《2024年度A股CFO数据报告》显示，2024年A股上市公司财务总监CFO群体薪酬规模合计达42.70亿元，平 分行业来看，A股共有149家建筑装饰上市公司公开披露了CFO信息。受上游房地产行业疲软影响，2024年建筑装饰上市公司整体实现营收87347.82亿元，同比下降3.9%；归母净利润录得171 就年龄结构而言，2024年建筑装饰上市公司CFO平均年龄为48岁，40-50岁群体约占51.0%，50岁以上群体约占36.9%，30-40岁群体约占12.1%。其中，男性占比66.2%，平均年龄为48.37 年龄最大的男性CFO为供职于杭州园林的邵如建、浙江建投的王志祥，两位现均已61岁。ST瑞和的女性CFO林望春目前也是61岁，在公司担任董事、副总经理、财务总监。能辉科技的董事、财务 就任职期限而言，2024年建筑装饰上市公司CFO任职期在5-10年的占比最高，约为28.2%；任期3-5年和1 ...

就年龄结构而言，2024年建筑装饰上市公司CFO平均年龄为48岁，40-50岁群体约占51.0%，50岁以上群体约占36.9%，30-40岁群体约占12.1%。其中，男性 占比66.2%，平均年龄为48.37岁，39.8%超过50岁，40岁以下的CFO共有8名；女性占比34.2%，平均年龄为47.29岁，31.4%在50岁以上，40岁以下的CFO共 10名。 年龄最大的男性CFO为供职于杭州园林的邵如建、浙江建投的王志祥，两位现均已61岁。ST瑞和的女性CFO林望春目前也是61岁，在公司担任董事、副总 经理、财务总监。能辉科技的董事、财务总监宋月月年龄最小，仅为32岁。 就任职期限而言，2024年建筑装饰上市公司CFO任职期在5-10年的占比最高，约为28.2%；任期3-5年和1-3年的CFO排名紧随其后，分别约占25.5%、 24.2%。任期大于10年的CFO共12位，有21位CFO在1年以内刚刚接手。任职时间最长的是日上集团何爱平，他于2010年开始担任财务总监，坚守岗位超15 年。 统计区间内，共有40位CFO辞职离任，健康和工作调动为主要原因，约47.5%已由继任者接任。中材国际、青矩技术、汉嘉设计、 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪财经《2024年度A股CFO数据报告》显示，2024年A股上市公司财务总监 CFO群体薪酬规模合计达42.70亿元，平均年薪为81.48万元。 分行业来看，A股共有149家建筑装饰上市公司公开披露了CFO信息。受上游房地产行业疲软影响，2024年建筑装饰上市公司整体实现营收87347.82亿元，同 比下降3.9%；归母净利润录得1714.72亿元，较2023年下滑16.0%，不到三成公司营收、净利双增。 责任编辑：公司观察 半数以上的CFO身兼数职。报告期内，约17.6%的CFO兼任董事会秘书职位，接近三成CFO兼任总经理或副总经理职位，约10.8%的CFO同时担任审计委员会 成员、战略委员会成员或薪酬与考核委员会成员等董事会专门委员会职能。 隧道股份CFO葛以衡以246.12万元稳坐第一，约比第二名上海建科财务总监沈新根年薪略高不到3万元。值得关注的是，葛以衡也是公司的党委书记、董事 长，自201 ...

Investment Rating - The report maintains a "Buy" recommendation for the construction industry [1] Core Viewpoints - Infrastructure investment growth remains robust, with a broad infrastructure investment growth rate of 8.9% in the first half of 2025, despite a slight decline from previous values [3][30] - Real estate investment continues to face pressure, with a 11.2% year-on-year decline in real estate development investment in the first half of 2025 [44] - The construction sector is experiencing a slight increase in fund holdings, with a fund holding market value ratio of 0.43% in Q2 2025, which is still below the standard allocation ratio of 1.77% [65][66] Summary by Sections Special Debt Issuance - The pace of special debt issuance has accelerated, with a total of 2.16 trillion yuan issued in the first half of 2025, a year-on-year increase of 45% [6][3] - The government plans to issue 4.4 trillion yuan in new local government special bonds in 2025, focusing on investment construction and land acquisition [6] Infrastructure Investment - Fixed asset investment growth has slowed, with a total of 248,654 billion yuan in the first half of 2025, reflecting a 2.8% year-on-year increase [27] - Infrastructure investment remains resilient, with significant growth in the electricity, heat, gas, and water supply sectors, which saw a 22.8% year-on-year increase [35][30] Real Estate Market - Real estate investment and sales continue to decline, with a 3.5% decrease in commodity housing sales area in the first half of 2025 [44] - New construction and completion areas have seen a narrowing decline, with new construction down 20.0% year-on-year but improving from previous months [46] Fund Holdings in Construction - Fund holdings in the construction sector have slightly increased, with a market value of 132.95 billion yuan in Q2 2025, reflecting a 9.24% increase from Q1 2025 [65] - The construction sector remains underweight compared to the standard allocation, indicating potential for growth [65][66] Recommendations - The report recommends focusing on stable growth, high dividends, overseas expansion, and regional construction projects, highlighting companies such as China State Construction, China Railway, and others [3][1]

最近三个交易日，25日-29日，中材国际分别获融资买入0.40亿元、0.24亿元、0.19亿元。 7月29日，沪深两融数据显示，中材国际获融资买入额0.19亿元，居两市第914位，当日融资偿还额0.20 亿元，净卖出64.22万元。 来源：金融界 融券方面，当日融券卖出0.41万股，净买入8.49万股。 ...