Group 1 - The high dividend selection concept increased by 1.39%, ranking 10th among concept sectors, with 16 stocks rising, including Nanshan Aluminum, Dongfang Yuhong, and Lantian Gas, which rose by 7.49%, 7.03%, and 4.21% respectively [1][2] - The leading decliners in the high dividend selection sector included Action Education, Siwei Liekong, and Qianjiang Motorcycle, which fell by 2.62%, 1.43%, and 0.99% respectively [1][2] - The high dividend selection sector saw a net inflow of 388 million yuan from main funds, with 10 stocks receiving net inflows, and 6 stocks exceeding 30 million yuan in net inflow, led by Minsheng Bank with a net inflow of 115 million yuan [2][3] Group 2 - The top stocks by net inflow ratio included Fusenmei, COSCO Shipping, and Minsheng Bank, with net inflow ratios of 14.94%, 10.54%, and 9.95% respectively [3][4] - The high dividend selection concept's top stocks by net inflow included Minsheng Bank, COSCO Shipping, Dongfang Yuhong, and Nanshan Aluminum, with respective net inflows of 115.39 million yuan, 100.27 million yuan, 72.47 million yuan, and 43.30 million yuan [3][4] - The overall market performance showed various sectors with significant fluctuations, with epoxy propylene leading the gainers at 5.78% and military information technology declining by 3.29% [2]

证券代码：002271 证券简称：东方雨虹 公告编号：2026-004 金科服务及要约人分别于 2025 年 11 月 18 日、2025 年 12 月 5 日及 2025 年 12 月 8 日发布联合公告，对要约收购条款进行修订，依据修订后的要约收购条 款，若金科服务退市条件达成，即金科服务股东会审议通过退市决议案且退市接 受条件（要约人总计获得不少于 90%无利害关系股份的有效接纳）获得满足，则 要约收购价格将由每股 6.67 港元提高至每股 8.69 港元，公司可就上述 28,405,100 股金科服务股份获得每股 2.02 港元的差额补足，预计补偿金额约为 57,378,302 港元（未扣除交易税费，具体金额以最终实际到账为准）。 一、交易概述 北京东方雨虹防水技术股份有限公司（以下简称"公司"）于 2025 年 6 月 25 日取得金科智慧服务集团股份有限公司（以下简称"金科服务"，股份代号： 9666.HK）H 股全流通股票（证券代码：299922）32,680,000 股，占其已发行股 份的 5.47%。前述股票系金科地产集团股份有限公司（以下简称"金科股份"） 持有并质押给公司，后根据金科股份 ...

Core Viewpoint - The launch of the hydrochloric acid concrete tank construction project by Mingxing Chemical, supported by Dongfang Yuhong's PCG multi-layer composite anti-corrosion system, enhances the safety and capacity release potential of chlorinated paraffin production, showcasing Dongfang Yuhong's technical strength in industrial anti-corrosion and its strategic layout in the "construction + industry" dual-track protection system [1][8]. Group 1 - The hydrochloric acid storage tanks require stringent anti-corrosion performance due to the corrosive nature of hydrochloric acid, impacting production safety and capacity release [3]. - Traditional fiberglass anti-corrosion systems face challenges such as temperature coefficient mismatch with concrete, leading to issues like hollowing, cracking, and peeling, which hinder chemical enterprises' capacity development [3]. - Dongfang Yuhong has developed the PCG multi-layer composite anti-corrosion system specifically for Mingxing Chemical, providing integrated protection from base treatment to surface coating, addressing the temperature adaptation challenges of traditional systems [3][6]. Group 2 - The collaboration exemplifies Dongfang Yuhong's development philosophy of "complementary advantages and strong alliances," as the company continues to diversify its product offerings and build a full industry chain service capability [5]. - The successful application of the PCG multi-layer composite anti-corrosion system in Mingxing Chemical's project reinforces Dongfang Yuhong's technical position in the industrial protection field and demonstrates its cross-scenario application capabilities [6]. - Under the protection of Dongfang Yuhong's anti-corrosion technology, Mingxing Chemical's hydrochloric acid concrete tank project is progressing smoothly, enhancing the market supply capacity of high-quality chemical products [8].

Investment Rating - The report maintains an "Overweight" rating for the construction and building materials sectors [6]. Core Insights - The report highlights a focus on balancing investments in emerging growth sectors and traditional dividend-paying sectors, anticipating a recovery in investment in early 2026, particularly in infrastructure and real estate [1]. - It emphasizes the potential for a spring rally in the market, driven by supportive real estate policies and opportunities in technology and overseas markets, particularly in AI applications and related materials [1]. - The report suggests that the construction and building materials sectors are under pressure, with significant declines in real estate sales and new construction, but sees potential in segments like building coatings and pipe materials due to a shift towards renovation in the existing housing market [2]. Summary by Sections Infrastructure and Real Estate Investment - In 2025, cumulative year-on-year investment in infrastructure (excluding power, heat, gas, and water supply) decreased by 2.2%, real estate by 17.2%, and manufacturing by 0.6% [1]. - The report notes a continued decline in real estate transactions, with a year-on-year decrease of 8.7% in sales area and a 20.4% drop in new construction area [2]. Cement Industry - The cement production in 2025 was 1.693 billion tons, down 6.9% year-on-year, with an average price of 360 RMB per ton in December, reflecting a 15.6% decrease year-on-year [3]. - The report indicates that the pressure on costs is easing due to increased efforts in staggered kiln shutdowns, leading to a slowdown in price declines [3]. Glass Industry - The flat glass production in 2025 was 976 million weight cases, down 3.0% year-on-year, with a significant price drop of 20.9% year-on-year [4]. - The report notes an acceleration in cold repairs in the glass industry, which is expected to stabilize prices [4]. Stock Recommendations - The report recommends several stocks with "Buy" ratings, including: - Yaxiang Integration (603929 CH) with a target price of 235.62 RMB - China National Materials (600970 CH) with a target price of 14.64 RMB - Sichuan Road and Bridge (600039 CH) with a target price of 13.48 RMB - Precision Steel Structure (600496 CH) with a target price of 5.75 RMB - Oriental Yuhong (002271 CH) with a target price of 17.19 RMB - Kaisheng Technology (600552 CH) with a target price of 16.94 RMB - China Jushi (600176 CH) with a target price of 20.80 RMB - Huaxin Cement (600801 CH) with a target price of 26.70 RMB - China Nuclear Engineering (601611 CH) with a target price of 18.21 RMB [8][29].

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]

Group 1: Cement Industry - The national market is gradually entering the off-season, with overall demand showing a downward trend, particularly in the housing construction market, while infrastructure demand is regionally differentiated under policy influence, and the civil market shows relatively rigid demand [1] - In the medium term, the cement industry's capacity is expected to continue declining under policies limiting overproduction, leading to a significant increase in capacity utilization and profit elasticity [1] - Key companies to watch include Conch Cement and Huaxin Cement [1] Group 2: Glass Industry - The demand side is experiencing a continuous decline in 2025 due to the impact of real estate, with short-term demand during the traditional peak season showing limited improvement and high inventory levels among intermediaries [1] - The supply side faces ongoing supply-demand contradictions, and despite recent cold repairs of multiple production lines, prices are expected to remain low and fluctuate in the short term [1] - Key company to watch is Qibin Group [1] Group 3: Glass Fiber Industry - As the year-end approaches, many pool kiln factories focus on cash collection, resulting in weak performance in middle and downstream deliveries [2] - The supply side sees the completion of cold repairs at China Jushi's production line, with a resurgence in production; the electronic yarn segment is thriving due to demand from the AI industry, leading to a rise in both volume and price for low dielectric products [2] - Key companies to watch include China Jushi and China National Building Material [2] Group 4: Consumer Building Materials - The industry has reached a profitability bottom, with prices having no downward space after years of competition; there is a strong demand for price increases and profit improvement driven by anti-involution policies [2] - In 2025, multiple categories such as waterproofing, coatings, and gypsum boards are expected to issue price increase notices, with anticipated profit improvements for leading companies in 2026 [2] - Key companies to watch include Oriental Yuhong, Sankeshu, Beixin Building Materials, and Rabbit Baby [2] Group 5: Market Overview - In the past week (January 12–18), the main index performance was as follows: the Shenwan Building Materials Industry Index decreased by 0.67%, the Shanghai Composite Index decreased by 0.45%, the Shenzhen Component Index increased by 1.14%, the ChiNext Index increased by 1.00%, and the CSI 300 Index decreased by 0.57% [2] - Among the 31 first-level sub-industry indices in Shenwan, the building materials sector ranked 18th in terms of performance [2]

Group 1 - The core transaction on January 19 involved a block trade of 140,000 shares of Dongfang Yuhong, with a transaction value of 2.0272 million yuan and a transaction price of 14.48 yuan, representing a premium of 0.84% over the closing price of the day [2][3] - The closing price of Dongfang Yuhong on the same day was 14.36 yuan, reflecting an increase of 1.92%, with a turnover rate of 1.60% and a total trading volume of 437 million yuan, alongside a net inflow of main funds amounting to 19.1255 million yuan [2][3] - Over the past five days, the stock has seen a cumulative decline of 1.91%, with total fund outflows reaching 72.0051 million yuan [2][3] Group 2 - The latest margin financing balance for Dongfang Yuhong stands at 816 million yuan, having increased by 30.8322 million yuan over the past five days, marking a growth rate of 3.93% [3] - Recently, one institution has rated the stock, with the highest target price forecasted by Western Securities at 17.73 yuan as of January 14 [3] - Dongfang Yuhong was established on March 30, 1998, with a registered capital of 2.388699866 billion yuan [3]

1月19日，东方雨虹大宗交易成交14万股，成交额202.72万元，占当日总成交额的0.46%，成交价14.48元，较市场收盘价 14.36元溢价0.84%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | | | | | 2026-01-19 | 002271 | 东方雨虹 | 14.48 | 14.00 | | 202.72 光大证券股份有限 | 光大证券股份有限 | | | | | | | | 公司宁波柳汀街证 | 公司宁波柳汀街证 | | | | | | | | 券营业部 | 券营业部 | ...

Investment Rating - The report maintains an "Overweight" rating for the construction materials industry [1] Core Insights - The construction materials sector has shown a slight decline in social financing growth, prompting a focus on high-dividend stocks and sectors such as real estate and technology [3] - The cement market is experiencing price fluctuations, with a current average price of 347.7 yuan/ton, down 4.8 yuan from last week and down 56.2 yuan from the same period in 2025 [10][11] - The report highlights potential investment opportunities in companies benefiting from high dividends, export-oriented industries, and home renovation sectors [3] Summary by Sections 1. Cement Market Overview - The national average cement price is 347.7 yuan/ton, reflecting a decrease of 4.8 yuan from the previous week and a decrease of 56.2 yuan year-on-year [10][11] - The average cement inventory ratio is 58.9%, down 1.4 percentage points from last week but up 1.4 percentage points from the same period in 2025 [16][20] - The average daily cement shipment rate is 39.2%, down 5.0 percentage points from last week but up 7.0 percentage points year-on-year [16][20] 2. Glass Market Overview - The average price of float glass is 1138.3 yuan/ton, an increase of 16.3 yuan from last week but a decrease of 246.1 yuan from 2025 [41][42] - The inventory of float glass in 13 provinces is 4,986 million weight boxes, a decrease of 209 million from last week but an increase of 1,071 million from the same period in 2025 [46][49] 3. Fiberglass Market Overview - The effective production capacity for fiberglass is projected to reach 759.2 million tons in 2026, a year-on-year increase of 6.9% [4] - The demand for fiberglass is expected to maintain steady growth, driven by wind power and new applications, despite a potential slowdown in overall growth [4] 4. Investment Recommendations - Recommended companies include China National Building Material, Huaxin Cement, and others that are expected to benefit from industry recovery and structural improvements [4][3] - The report suggests focusing on companies with strong dividend yields and those involved in technology and home renovation sectors [3]