证券之星消息，1月21日装修建材板块较上一交易日上涨1.31%，三棵树领涨。当日上证指数报收于 4116.94，上涨0.08%。深证成指报收于14255.12，上涨0.7%。装修建材板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002225 濮耐股份 | | 5663.07万 | 12.32% | -3126.22万 | -6.80% | -2536.85万 | -5.52% | | 002398 | 垒知隼团 | 2553.34万 | 15.30% | 372.49万 | 2.23% | -2925.84万 | -17.53% | | 001212 中旗新材 | | 2038.85万 | 4.61% | 639.82万 | 1.45% | -2678.67万 | -6.06% | | 300599 雄塑科技 | | 1801.06万 | 13.43% | -749.15万 | -5.59% ...

来源：沪深交易所等，截至2026.1.21。 注：投资者在申购或赎回基金份额时，申购赎回代理券商可按照不超过0.5%的标准收取佣金，其中包含证券交易所、登记机构等收取的相关费用。化工ETF 不收取销售服务费。 机构观点来源：①天风证券2026年1月14日证券研究报告《基础化工2026年年度策略：供需逆转、产业重构、价值重估》；②华鑫证券2026年1月20日《基础 化工行业研究：国内汽油、天然气等涨幅居前，建议关注进口替代、纯内需、高股息等方向》。 化工板块攻势不停！反映化工板块整体走势的化工ETF（516020）早盘走弱后迅速拉升翻红，而后持续高位震荡，截至发稿，场内价格涨1.15%，冲击日线 三连阳。 成份股方面，锂电、钾肥、磷化工等板块部分个股涨幅居前。截至发稿，浙江龙盛飙涨超9%，三棵树大涨超6%，亚钾国际、和邦生物、新宙邦等涨超4%。 | | | 多日 1分 5分 15分 30分 60分 日 | | 周 月 更多 | | | | F9 盘前盘后 叠加 九转 画线 工具 | | @ 0 | KTETE O | | | 51 | | --- | --- | --- | --- | --- | --- | ...

Group 1 - The chemical sector is experiencing a strong upward trend, with the chemical ETF (516020) showing a price increase of 1.15%, aiming for a third consecutive daily gain [1][8] - Key stocks in the sector include Zhejiang Longsheng, which surged over 9%, and Sankeshu, which rose over 6%, along with other companies like Yaqi International and Hebang Bio, which increased by over 4% [1][8] - The basic chemical sector has seen significant inflows, with over 11.3 billion CNY in net inflows on a single day, ranking fourth among 30 sectors, and a total of 31.3 billion CNY over the past five days, ranking second [9][10] Group 2 - Dongfang Securities expresses optimism about the chemical industry, highlighting a collective shift in corporate strategies that could lead to improved market conditions [10] - The report identifies two key dimensions for investment opportunities: leading companies with significant market share and those with competitive advantages that can enhance profitability [10] - The report specifically favors five areas: MDI, petrochemicals, phosphate chemicals, PVC, and polyester bottle flakes [10] Group 3 - The chemical ETF (516020) tracks the CSI segmented chemical industry index, with nearly 50% of its holdings in large-cap leading stocks like Wanhua Chemical and Salt Lake Shares, while the other half focuses on various sub-sectors [11] - Investors can also access the chemical ETF through linked funds (Class A 012537/Class C 012538) for more efficient exposure to the sector [11]

Core Viewpoint - The stock of Sankeshu increased by 5.02% on January 21, reaching a price of 50.81 yuan per share, with a trading volume of 538 million yuan and a turnover rate of 1.49%, resulting in a total market capitalization of 37.489 billion yuan [1] Company Overview - Sankeshu Co., Ltd. is located in Putian City, Fujian Province, and was established on July 17, 2003. The company was listed on June 3, 2016. Its main business includes the research, production, and sales of architectural coatings (wall coatings), wood coatings, waterproof materials, flooring materials, insulation materials, integrated boards, and base materials [1] - The revenue composition of the main business is as follows: engineering wall paint 30.87%, base and auxiliary materials 29.79%, home decoration wall paint 27.07%, waterproof membranes 7.91%, others 2.32%, and decorative construction 2.04% [1] Shareholder Information - Among the top ten circulating shareholders of Sankeshu, a fund under Penghua Fund ranks as a significant shareholder. The Penghua CSI Sub-Industry Chemical Theme ETF Link A (014942) entered the top ten circulating shareholders in the third quarter, holding 4.4417 million shares, which accounts for 0.6% of the circulating shares. The estimated floating profit today is approximately 10.7933 million yuan [2] - The Penghua CSI Sub-Industry Chemical Theme ETF Link A (014942) was established on March 8, 2022, with a latest scale of 728.091 million yuan. Year-to-date return is 8.68%, ranking 1218 out of 5542 in its category; the one-year return is 52.83%, ranking 1024 out of 4243; and since inception, the return is 0.44% [2] Fund Performance - The fund manager of the Penghua CSI Sub-Industry Chemical Theme ETF Link A (014942) is Yan Dong. As of the report date, Yan Dong has a cumulative tenure of 6 years and 311 days, with total fund assets of 21.796 billion yuan. The best fund return during his tenure is 456.3%, while the worst return is -43.26% [3] - Another fund under Penghua, the Penghua Leading One-Year Holding Mixed A (011574), holds Sankeshu as its second-largest heavy stock, with 112,400 shares held in the third quarter, unchanged from the previous period, accounting for 9.46% of the fund's net value. The estimated floating profit today is approximately 273,200 yuan [4] - The Penghua Leading One-Year Holding Mixed A (011574) was established on June 22, 2021, with a latest scale of 22.081 million yuan. Year-to-date return is 7.93%, ranking 1734 out of 8844; the one-year return is 40.36%, ranking 2839 out of 8091; and since inception, the return is 48.16% [4] Fund Manager Information - The fund manager of the Penghua Leading One-Year Holding Mixed A (011574) is Liu Yujiang. As of the report date, Liu has a cumulative tenure of 4 years and 309 days, with total fund assets of 4.2997 million yuan. The best fund return during his tenure is 39.41%, while the worst return is -27.87% [5]

地产链这些年都经历了什么？20260120 摘要 消费建材板块经历四年调整后，龙头企业于 2025 年三季度迎来拐点， 四季度收入利润同比转正，表明其通过存量翻新、渠道下沉和出海等策 略实现独立增长，行业整体压力依然存在。 供给端出现显著变化，包括企业通过资产减值提升利润，同行退出或转 型，以及龙头企业间竞争放缓，通过渠道和产品扩张寻求增长点，如涂 料、防水材料价格上涨，石膏板有望提价，反映行业竞争格局改善。 城市更新政策通过增强规划弹性、优化历史政策等措施加速存量市场转 化，为建材行业提供需求支撑，全国城乡住房存量巨大，城市更新将成 为重要增长动力。 涂料、防水材料和石膏板等细分领域通过提价反映需求端向供给端转移 的趋势，在需求下降周期中，通过优化供给端结构，实现价格稳定并逐 步恢复盈利能力。 建材公司积极从依赖大 B 客户向小 B 和 C 端客户转型，通过渠道调整和 产品升级提高毛利率，同时降本增效措施在 2025 年后逐渐显现，费用 率下降，财务状况得到改善。 Q&A 近年来地产链各行业发生了哪些变化？ 地产链中的家居消费建材、水泥、玻璃等行业受到了房地产政策变化的直接影 响。玻纤等传统基建地产相关领域 ...

【华福建筑建材】地产及地产链大涨点评：上层态度变化、政策渴望以及板块高低切的共振 今天地产及建筑建材板块大涨，主要源于市场传闻上海政策放松以及后续有更大力度政策出台。 我们认为当前时点需要重新看待地产及地产链板块： 开年以来，《求是》刊发重磅评论《改善和稳定房地产市场预期》，并连发六篇钟才平文章署名文章论怎么干经 济，对于房地产重点提出了：1）认可了房地产显著的金融资产属性，是居民财富的核心载 【华福建筑建材】地产及地产链大涨点评：上层态度变化、政策渴望以及板块高低切的共振 一方面，在数据全面下滑下，市场亟待政策发力；另一方面尽管数据依然疲软，但其对建材行业的边际负面影响 已明显减弱。 基本面方面，建材行业投资逻辑核心在于"供给侧改善"先于"需求侧复苏"。 在"反内卷"等政策导向下，水泥等行业的价格协同初见成效，盈利水平持续修复；防水、涂料等消费建材行业已 步入最后的尾部出清阶段，竞争格局优化，部分细分赛道龙头的毛利率、费用率等已在积极变化，并有望率先迎 来业绩拐点。 推荐逻辑上：我们首先推荐关注受益于地产政策传闻的高信用、高品质的开发类房企：招商蛇口、滨江集团；同 时推荐关注受益于地产需求修复预期的地产链细 ...

Core Insights - The event held on January 18, 2026, in Suzhou marked the launch of the "1+N" strategy by the company, emphasizing its commitment to upgrading its business model and contributing to the national strategy of "suitable living" [1][3] - The "1+N" ecological model focuses on a core product of coatings while extending into various service scenarios and ecological resources, transforming the traditional single service into a comprehensive home renovation service [1][7] Company Strategy - The company aims to open over 10,000 stores by 2026 and 30,000 by 2030, reflecting its ambition to lead the transformation of the Chinese home furnishing industry and expand its global presence [3] - The launch of 15 community renovation stores in Suzhou represents a significant step in implementing the "1+N" strategy, enhancing service accessibility within a three-kilometer radius of core communities [5][8] Market Impact - The "1+N" strategy has transitioned from traditional product delivery to a one-stop space renovation solution, addressing the demand for improved living environments while aligning with green and low-carbon development principles [7] - The company's rapid expansion has reached over 300 cities nationwide, showcasing its strong market appeal and brand influence [5] Future Vision - The company is committed to enhancing home health, beautifying cities, and improving quality of life, with a focus on user-centered services and ecological support [7] - The new community service model aims to closely integrate with residents' needs, providing quick responses and comprehensive responsibility, thereby contributing to urban renewal and enhancing living quality [8]

三棵树1月20日大宗交易平台共发生2笔成交，合计成交量315.72万股，成交金额1.50亿元。成交价格均 为47.51元，相对今日收盘价折价1.80%。从参与大宗交易营业部来看，机构专用席位共出现在1笔成交 的买方或卖方营业部中，合计成交金额为4751.00万元，净买入4751.00万元。 | 成交量 | 成交金额 （万元） | 成交价格 （元） | 相对当日收盘折 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | | | 溢价（%） | | | | 215.72 | 10248.86 | 47.51 | -1.80 | 国泰海通证券股份有 | 中信证券股份有限公 | | | | | | 限公司总部 | 司福建分公司 | | 100.00 | 4751.00 | 47.51 | -1.80 | 机构专用 | 中信证券股份有限公 司福建分公司 | 进一步统计，近3个月内该股累计发生4笔大宗交易，合计成交金额为2.49亿元。 （文章来源：证券时报网） 据天眼查APP显示，三棵树涂料股份有限公司成立于2003年07月17日，注册资本73 ...

志特新材涨停创新高，九鼎新材2连板，海螺水泥、东方雨虹、三棵树、北新建材、伟星新材跟涨。 (本文来自第一财经) ...

华福证券在研报表示，在反内卷加速供给侧改革预期下，建材产能周期有望迎来拐点，并且预期来看， 利率下行有利购房意愿修复，收储及城改有助购房能力修复，购房意愿及能力边际修复预期预计推动房 地产市场基本面企稳概率增加，亦有望推动地产后周期需求修复。 北京商报讯（记者 翟枫瑞）1月20日，装修建材板块增长，以17486.43点收盘，涨幅为1.30%。在板块 带动下，多只装修建材股股价实现增长。康欣新材以4.72元/股收盘，涨幅为10.02%，领涨装修建材 股。三棵树以48.38元/股收盘，涨幅为10.00%，涨幅位列装修建材股第二。顾家家居以33.80元/股收 盘，涨幅为7.81%，涨幅位列装修建材股第三。除此之外，美克家居以2.86元/股收盘，跌幅为8.33%， 领跌装修建材股。雄塑科技以10.70元/股收盘，跌幅为4.12%，跌幅位列装修建材股第二。悦心健康以 5.08元/股收盘，跌幅为2.68%，跌幅位列装修建材股第三。 ...