Core Insights - The article discusses the trend of decreasing shareholder accounts among companies, indicating a concentration of shares. A total of 440 companies reported their latest shareholder numbers as of January 10, with 67 companies experiencing a decline for more than three consecutive periods, and some, like Tongda Power, seeing a decrease for ten consecutive periods [1]. Group 1: Shareholder Trends - A total of 440 companies reported their shareholder numbers, with 67 companies showing a decline for over three periods, and some like Tongda Power experiencing a 12.19% decrease over ten periods [1]. - Notable companies with significant declines include Tongda Power (27,253 accounts, down 12.19%) and Guotou Fengle (60,728 accounts, down 7.40%) [1]. - Companies with the largest recent declines in shareholder numbers include Furong Technology (down 7.34%), Yong'an Forestry (down 4.29%), and Fujian Jinsen (down 4.24%) [1]. Group 2: Market Performance - Among the companies with decreasing shareholder numbers, 38 saw their stock prices rise, while 29 experienced declines. Notable gainers include Huarui Co. (up 28.50%), Zhongyuan Neipei (up 23.38%), and Juran Zhijia (up 18.36%) [2]. - 18 companies outperformed the Shanghai Composite Index, with Huarui Co. achieving a relative return of 23.84% compared to the index [2]. - The sectors with the highest concentration of companies experiencing declining shareholder numbers include electric equipment, agriculture, forestry, animal husbandry, and public utilities [2]. Group 3: Institutional Interest - In the past month, nine companies with decreasing shareholder numbers were subject to institutional research, with Xingfa Group and Jintian Co. being the most frequently researched, each receiving two inquiries [2]. - The number of institutions involved in research was highest for Xingfa Group (107 institutions), followed by COFCO Technology (38 institutions) and Jintian Co. (23 institutions) [2]. Group 4: Performance Metrics - One company, Shaanxi Guotou A, reported a net profit growth of 5.70% for the year 2025 [3]. - A detailed table lists companies with declining shareholder numbers, showing metrics such as the latest shareholder count, percentage change, consecutive decline periods, and stock performance relative to the index [3][4][5][6].

证券代码：000786 证券简称：北新建材 北新集团建材股份有限公司投资者关系活动记录表 编号：20260113 投资者关系活动 类别 特定对象调研□分析师会议 □媒体采访 业绩说明会 □新闻发布会 路演活动 现场参观 □其他 参与单位名称及 人员姓名 Mondrian Investment Partners Ltd 、中金公司 时间 2026 年 1 月 13 日（星期二）11:30-13:30 地点 公司会议室 上市公司接待人 员姓名 副总经理、董事会秘书李畅女士，投资者关系高级经理江秀秀 投资者关系活动 主要内容介绍 与投资者就公司的发展战略、经营业务等进行交流。主要交 流内容如下： 1."十五五"期间，对于石膏板行业、防水材料行业和涂料 行业需求如何展望？ 答：石膏板行业需求将会延续结构性分化特性，二次装修、 城市更新、家装零售、县乡市场及创新平替等方面仍是未来需求 主要增长点，"十五五"期间石膏板行业将继续保持稳中向好， 并有望实现新突破。防水行业发展路径回归理性，市场份额向头 部企业集中，市场格局进一步优化，修缮、民建、防排防渗等需 求有较大增长潜力，未来，头部企业仍有提升空间。涂料行业市 场空间 ...

证券之星消息，1月13日装修建材板块较上一交易日下跌1.62%，鲁阳节能领跌。当日上证指数报收于 4138.76，下跌0.64%。深证成指报收于14169.4，下跌1.37%。装修建材板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002718 | 友邦导顶 | 62.33 | 10.01% | 7.68万 | | 4.70亿 | | 300234 | 开尔新材 | 5.95 | 3.30% | 37.21万 | | 2.21亿 | | 002457 | 青龙营业 | 11.45 | 1.96% | 19.30万 | | 2.19亿 | | 301429 | 森泰股份 | 19.68 | 0.92% | 1.75万 | | 3438.54万 | | 002641 | 公元股份 | 4.46 | 0.68% | 30.51万 | | 1.36亿 | | 920792 | 东和新材 | 12.85 | 0.47% | 3.18万 | | 4123.23万 | | ...

Group 1 - The core viewpoint of the articles highlights the successful integration of traditional Chinese aesthetics into modern building materials, with companies like Beixin Building Materials leading the way in promoting cultural confidence through innovative products [1][2] - Beixin Building Materials has incorporated traditional Chinese design elements such as mortise and tenon structures and artistic coatings into their products, which has garnered international recognition and acceptance in the market [1] - The company is expanding its overseas presence, utilizing a "culture + commerce" model that showcases contemporary Chinese aesthetics and transforms cultural confidence into tangible market opportunities [1] Group 2 - The "Guochao" (national trend) movement is nurturing the cultural foundation for the next generation, with initiatives like Beixin Building Materials' "Painted Home" public welfare activity, which engages children in experiencing the wisdom of Chinese enterprises [2] - The establishment of the Luban Academy by Longshun Cheng attracts thousands of young people to experience the fun of mortise and tenon assembly, promoting traditional craftsmanship [2] - The flourishing development of Guochao commerce reflects a market response to cultural confidence, ensuring sustainable transmission of traditional culture while solidifying the presence of Chinese brands in the global market [2]

证券研究报告 | 行业周报 gszqdatemark 2026 01 11 年 月 日 建筑材料 反内卷预期再起，关注后续供给侧积极变化 2026 年 1 月 5 日至 1 月 9 日建筑材料板块（ SW）上涨 1.89%，其中水泥 （SW）上涨 1.62%，玻璃制造（SW）上涨 3.10%，玻纤制造（SW）上 涨 0.75%，装修建材（SW）上涨 2.57%，本周建材板块相对沪深 300 超 额收益 1.01%。本期建筑材料板块（SW）资金净流入额为-9.53 亿元。 【周数据总结和观点】 2026 年中国人民银行工作会议召开，明确把促进经济高质量发展、物价 合理回升作为货币政策的重要考量。根据 wind 统计，2025 年 12 月地方 政府债总发行量 2837.47 亿元，发行金额环比 2025 年 11 月下降 68.9%， 同比 2024 年 12 月下降 74.0%。化债政策加码下政府财政压力有望减轻， 企业资产负债表也存在修复的空间，市政工程类项目有望加快推进，市政 管网及减隔震实物工作量有望加快落地，关注龙泉股份、青龙管业、中国 联塑、震安科技。浮法玻璃供需仍有矛盾，光伏玻璃开启自律减产，供需 ...

Core Viewpoint - North New Building Materials Co., Ltd. has experienced fluctuations in stock price and financial performance, with a notable decrease in revenue and net profit for the year ending September 2025, indicating potential challenges ahead for the company [2][3]. Financial Performance - As of December 31, the company reported a revenue of 19.905 billion yuan for the period from January to September 2025, a year-on-year decrease of 2.25% [2]. - The net profit attributable to shareholders for the same period was 2.586 billion yuan, reflecting a year-on-year decline of 17.77% [2]. Stock Performance - On January 8, the stock price increased by 2.05%, reaching 25.88 yuan per share, with a trading volume of 384 million yuan and a turnover rate of 0.89% [1]. - Year-to-date, the stock has risen by 3.64%, with a 4.44% increase over the last five trading days and a 6.15% increase over the last 20 days [1]. Shareholder Information - As of December 31, the number of shareholders decreased to 69,000, a reduction of 1.43% from the previous period [2]. - The average number of circulating shares per shareholder increased by 1.45% to 24,485 shares [2]. Dividend Distribution - Since its A-share listing, the company has distributed a total of 9.562 billion yuan in dividends, with 3.979 billion yuan distributed over the last three years [3]. Institutional Holdings - As of September 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 160 million shares, a decrease of 17.0699 million shares from the previous period [3]. - Other notable institutional shareholders include Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, both of which have seen reductions in their holdings [3].

Core Viewpoint - North New Building Materials Co., Ltd. has experienced fluctuations in stock price and financial performance, with a notable decrease in revenue and net profit for the year ending September 2025, indicating potential challenges ahead for the company [1][2]. Financial Performance - As of December 31, North New Building Materials reported a revenue of 199.05 billion yuan for the period from January to September 2025, reflecting a year-on-year decrease of 2.25% [2]. - The company's net profit attributable to shareholders was 25.86 billion yuan, down 17.77% compared to the previous year [2]. Stock Performance - On January 6, the stock price increased by 2.06%, reaching 25.79 yuan per share, with a trading volume of 4.94 billion yuan and a turnover rate of 1.15% [1]. - Year-to-date, the stock has risen by 3.28%, with a 4.20% increase over the last five trading days and a 2.79% increase over the last 20 days [1]. Shareholder Information - As of December 31, the number of shareholders decreased by 1.43% to 69,000, while the average circulating shares per person increased by 1.45% to 24,485 shares [2]. - The company has distributed a total of 95.62 billion yuan in dividends since its A-share listing, with 39.79 billion yuan distributed over the last three years [3]. Major Shareholders - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 160 million shares, a decrease of 17.07 million shares from the previous period [3]. - Other notable shareholders include Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, both of which have seen reductions in their holdings [3].

Core Viewpoint - The collaboration between Beixin Waterproof, Keshun Co., and Kairun Co. has ended in bankruptcy, with significant changes in shareholding and capital structure of Beixin New Materials (Jinzhou) Co., Ltd. [1][6] Group 1: Company Changes - Beixin Waterproof's shareholding increased to 90% after Keshun and Kairun exited the shareholder list [1] - The legal representative changed from "Ding Shanghua" to "Bai Hongcheng," and the registered capital decreased from 300 million yuan to 90 million yuan [1][6] Group 2: Joint Venture Background - In July 2021, Beixin Waterproof, Keshun Co., and Kairun Co. signed an agreement to establish a joint venture with a total investment of 50 million yuan [3][9] - The joint venture aimed to unify procurement of common raw materials and equipment to enhance competitiveness in the waterproof materials market [4][10] Group 3: Financial Performance - Keshun Co. reported a revenue of 6.829 billion yuan in 2024, while Kairun Co. reported 2.38 billion yuan, and Beixin Waterproof reported 4.631 billion yuan [4][9] Group 4: Future Projects - A new project for producing 28,000 tons of polyester spunbond substrate is underway, expected to become the largest production base in Northeast China and Inner Mongolia [6][12] - This project aims to enhance product quality and competitiveness in the waterproof materials sector [12]

Investment Rating - The report maintains a "Buy" rating for key stocks in the construction materials sector, including Yao Pi Glass, Yinlong Co., Puyang Huicheng, San Ke Shu, and Beixin Building Materials, while recommending "Hold" for Weixing New Materials [9]. Core Insights - The construction materials sector experienced a decline of 1.25% from December 29 to December 31, 2025, with cement down 1.54%, glass manufacturing down 3.53%, and fiberglass down 1.19% [12]. - The recent policy change regarding the personal sales tax on housing is expected to impact the market positively, with potential for further supportive measures [1]. - The cement industry is currently facing weak demand, with prices fluctuating around the breakeven point, and a focus on improving cash flow rather than just sales volume [2][17]. - The glass market is experiencing a supply-demand imbalance, but self-regulation in the photovoltaic glass sector may alleviate some pressure [3][7]. - Consumer building materials are benefiting from favorable second-hand housing transactions and consumption stimulus policies, with a long-term potential for market share growth [1][8]. Summary by Sections Cement Industry Tracking - As of December 31, 2025, the national cement price index was 352.65 CNY/ton, with a slight decrease of 0.06% from the previous week [17]. - The cement output for the week was 2.847 million tons, down 1.04% week-on-week, indicating a continued contraction in demand as temperatures drop and the Spring Festival approaches [2][17]. - The utilization rate of cement clinker production lines was 38.43%, showing a slight increase, while the cement inventory ratio decreased to 59.1% [17]. Glass Industry Tracking - The average price of float glass was 1121.29 CNY/ton as of December 31, 2025, reflecting a 1.65% decline from the previous week [3]. - Inventory levels for float glass increased year-on-year, indicating ongoing supply challenges despite some production line shutdowns [3][7]. Fiberglass Industry Tracking - The fiberglass market is currently stable, with no significant price changes reported, although demand remains weak [7]. - The electronic fiberglass segment continues to see strong demand for high-end products, while traditional fiberglass demand is expected to decline [7]. Consumer Building Materials - The consumer building materials sector is showing signs of weak recovery, with stable prices for key raw materials like asphalt and acrylic but fluctuations in aluminum and natural gas prices [8]. - The report highlights the potential for growth in companies like San Ke Shu and Beixin Building Materials due to favorable market conditions [1][8].

北新建材在细分领域有哪些表现突出的需求？对于 2026 年的需求展望如何？ 在细分领域中，石膏板近年来在存量市场、二次翻新、二次装修以及家装方面 表现突出。这些领域的增速快于整体增速，公司一直在推动从公装向家装转型， 并且渠道下沉工作也在持续进行。此外，新产品研发和创新方面，今年前三季 度的新产品增速超过 90%。尽管占比不高，但未来占比将不断提升。 对于防 水业务，公司并购了远大洪雨，并继续追求规模、质量和效益均衡发展。今年 公司成立了民建事业部和修缮事业部，并推出了修缮小程序，这两项业务今年 前三季度增长率达到 80%-90%。 涂料业务自去年并表以来，从零售到家装等 各方面表现良好，并且渠道下沉工作也在开展中。 对于 2026 年，公司认为房 地产市场可能会逐步筑底回升，对石膏板业务充满信心，预计其量价将有所突 破，有望达到 38 亿至 40 亿平方米。防水行业预计仍会延续近年来的趋势，中 小企业退出后头部企业市场份额将提升，公司将在质量、份额和效益上继续保 持增长态势。涂料业务预计明年仍能保持双位数增长。 北新建材 20251230 摘要 北新建材石膏板业务在家装、存量翻新等细分领域表现突出，增速超过 ...