Group 1 - The core viewpoint of the article highlights the significant expansion of sponsorship and commercial partnerships for the 2026 season of the Jiangsu Super League (苏超), driven by the success and popularity of the inaugural 2025 season [1][2] - The 2025 season saw a remarkable attendance of over 2.43 million spectators, with an average of 28,000 attendees per match, setting a record for provincial leagues [2] - The number of sponsors increased from 6 during the preparation phase to 41 at the provincial level, with some city-level sponsors reaching into the dozens, indicating a substantial growth in commercial interest [2] Group 2 - The 2026 season will feature a multi-tiered sponsorship structure, including official strategic partners such as Guoyuan V3, Heineken, Adidas, and others, alongside various official sponsors and suppliers [1][3] - Upgrades for sponsor rights include enhanced advertising exposure through LED screens in stadiums and live broadcasts, and a significant reduction in competitive industry categories from 26 to 9, allowing for greater collaboration opportunities [3] - The league is also focusing on small and micro enterprises by opening 32 official sponsorship slots, providing equal rights and benefits to selected businesses, which will be chosen through a structured application process [3]

Investment Rating - The report maintains an "Outperform" rating for the construction materials sector, indicating a positive outlook compared to the broader market [2] Core Views - A new round of urban renewal is beginning, which is expected to provide significant opportunities in the consumer building materials sector, effectively countering the decline in new housing market demand [8] - The report highlights that after a prolonged downturn in the real estate sector, profitability in various segments of the construction supply chain is starting to recover, particularly for leading companies that have undergone strategic adjustments [8] - The report emphasizes the potential for price increases in certain segments, such as waterproofing and coatings, as companies respond to improved market conditions [8] Summary by Sections Cement - The cement market is entering a seasonal downturn, with demand expected to decline. The average shipment rate for major regions has dropped to 29%, a decrease of approximately 10 percentage points [27][34] - The national average price for cement remains stable at around 353 RMB per ton, with minor fluctuations observed in specific regions [28][34] - The report suggests that after the Spring Festival, demand may recover as new key projects are expected to commence, potentially stabilizing prices [34] Glass - The glass market is also experiencing a decline in demand, with production capacity decreasing to approximately 14.95 million tons, the lowest in recent years [53] - The average price for float glass has increased slightly to 1,139 RMB per ton, with inventory levels decreasing [38] - The report indicates that the glass industry is facing profitability challenges, leading to accelerated production line cold repairs, which may help stabilize the market [53] Fiberglass - The fiberglass market is seeing stable pricing for both roving and electronic fabrics, with the price of 7628 electronic fabric currently at approximately 4.4-4.85 RMB per meter [55] - The report anticipates continued high demand for electronic fabrics, supported by structural adjustments and a shortage of high-end products [55] - Key recommendations include focusing on leading companies like China Jushi, with additional attention on International Composite Materials and Zhongcai Technology [55] Carbon Fiber - Carbon fiber prices are expected to remain stable in the short term, with the rapid development of commercial aerospace potentially driving new demand [55] - The report notes that the current price stability is a necessary step for increased market penetration, with significant growth expected in the aerospace sector [55] Consumer Building Materials - The report highlights the resilience of consumer building materials, with leading companies like Sanke Tree and Rabbit Baby showing strong growth potential as they emerge from profitability challenges [8] - The urban renewal initiative is expected to create substantial market opportunities, particularly for high-quality consumer building materials [8]

Investment Rating - The report maintains a rating of "Buy" for key stocks in the construction materials sector, including Yao Pi Glass, Yinlong Co., Puyang Co., San Ke Tree, and Bei Xin Materials, while recommending "Hold" for Wei Xing New Materials [7]. Core Insights - The construction materials sector saw a significant increase of 7.50% from January 19 to January 23, 2026, outperforming the Shanghai and Shenzhen 300 index by 8.17% [12]. - The Ministry of Housing and Urban-Rural Development emphasized urban renewal, focusing on the renovation of old urban communities, complete community construction, and the transformation of small public spaces [1]. - The report highlights a decrease in local government bond issuance, indicating a potential easing of fiscal pressure and a chance for corporate balance sheet recovery, which may accelerate municipal engineering projects [1]. - The glass industry is approaching a supply-demand balance due to accelerated cold repairs, while photovoltaic glass companies are reducing production to alleviate supply conflicts [1]. - The cement industry is experiencing a demand bottoming process, with increased off-peak production efforts and a focus on regional demand driven by large infrastructure projects [1]. Summary by Sections Cement Industry Tracking - As of January 23, 2026, the national cement price index was 345.33 CNY/ton, down 0.5% week-on-week, with a total cement output of 2.3795 million tons, a decrease of 10.04% [18]. - The cement clinker kiln line capacity utilization rate was 42.42%, up 1.72 percentage points from the previous week [18]. - The market is facing a complex situation influenced by weather, funding constraints, and environmental regulations, leading to a projected weakening of demand as the Spring Festival approaches [18]. Glass Industry Tracking - The national average price of float glass as of January 22, 2026, was 1138.82 CNY/ton, with a slight increase of 0.05% week-on-week [35]. - The inventory of raw glass in 13 provinces was 49.77 million weight boxes, showing a decrease of 90,000 weight boxes from the previous week [35]. - The market is expected to maintain a stable price trend in the short term, with potential supply-side changes to monitor [35]. Fiberglass Industry Tracking - The price of non-alkali roving remained stable, with demand continuing to show weakness and inventory levels remaining high [6]. - The average production cost for carbon fiber was 112,500 CNY/ton, with a negative profit margin indicating insufficient profit space in the industry [6]. Consumer Building Materials - The demand for consumer building materials is showing signs of weak recovery, with upstream raw material prices for aluminum alloy, styrene, and natural gas increasing week-on-week [6]. - The report recommends continued attention to companies benefiting from second-hand housing and renovation policies, highlighting their potential for market share growth [1].

一、停复牌 1、锋龙股份：股价异动停牌核查。 2、嘉美包装：股价异动停牌核查。 3、湖南黄金：2025年净利润为12.70亿元至16.08亿元，同比增长50.00%至90.00%。业绩上涨主要是公 司金、锑、钨产品销售价格同比上涨。拟购买黄金天岳、中南冶炼100%股权，股票复牌。 4、龙韵股份：筹划购买愚恒影业58%股权，股票停牌。 二、回购 1、金开新能：拟5亿元-6亿元回购公司股份。 2、中宠股份：拟1亿元-2亿元回购公司股份。 三、并购重组 1、永杰新材：拟购买奥科宁克秦皇岛100%股权和奥科宁克昆山95%股权。奥科宁克秦皇岛主要从事铝 板带的研产销；奥科宁克昆山主要从事热管理相关铝板带的研产销。 2、晶升股份：拟8.57亿元购买为准智能100%股份。 2、德力佳：拟50亿元投建10兆瓦以上风电用变速箱研发制造项目。 3、天合光能：将剩余募集资金17亿元用于新项目"分布式智慧光伏电站建设项目"。 4、精智达：签订13.11亿元半导体测试设备销售合同。 5、蓝思科技：商业航天领域已实现批量供货，针对太空环境极端需求已研发出超薄光伏玻璃模组等。 6、北汽蓝谷：子公司拟投资19.91亿元建设享界超级工厂高端平 ...

Investment Rating - The report maintains a "Buy" rating for key stocks in the construction materials sector, including Yao Pi Glass, Yinlong Co., Puyang Co., San Ke Tree, and Bei Xin Materials, while recommending "Hold" for Wei Xing New Materials [7]. Core Insights - The construction materials sector saw a significant increase of 7.50% from January 19 to January 23, 2026, outperforming the Shanghai and Shenzhen 300 index by 8.17% [12]. - The Ministry of Housing and Urban-Rural Development emphasized urban renewal, focusing on the renovation of old urban communities, complete community construction, and the transformation of small public spaces [1]. - The report highlights a decrease in local government bond issuance, indicating a potential easing of fiscal pressure and a chance for municipal engineering projects to accelerate [1]. - The glass industry is approaching a supply-demand balance, with a focus on the photovoltaic glass sector amid production cuts to alleviate supply tensions [1]. - The cement industry is experiencing a demand downturn, with prices fluctuating around the breakeven point, while supply-side improvements are anticipated [1]. Summary by Sections Cement Industry Tracking - As of January 23, 2026, the national cement price index was 345.33 CNY/ton, down 0.5% week-on-week, with a significant drop in cement output and supply [18]. - The capacity utilization rate for cement clinker kilns was 42.42%, reflecting a 1.72 percentage point increase from the previous week [18]. - The report notes a complex market situation influenced by weather, funding constraints, and environmental regulations, leading to a projected weakening in demand as the Spring Festival approaches [18]. Glass Industry Tracking - The average price of float glass as of January 22, 2026, was 1138.82 CNY/ton, with a slight increase of 0.05% week-on-week [35]. - Inventory levels for float glass showed a decrease of 9 million weight boxes compared to the previous week, but a year-on-year increase of 1188 million weight boxes [35]. - The report anticipates stable pricing in the short term, with potential policy changes affecting supply dynamics [35]. Fiberglass Industry Tracking - The market for fiberglass remains stable, with no significant changes in production capacity or pricing observed [6]. - Demand for high-end electronic yarns is expected to remain strong, while ordinary products may see moderate price increases [6]. Consumer Building Materials - The consumer building materials sector is experiencing a weak recovery, with rising prices for upstream raw materials such as aluminum and natural gas [6]. - The report emphasizes the potential for long-term market share growth in consumer building materials due to ongoing renovation demand [1]. Carbon Fiber Industry Tracking - The carbon fiber market is stable, with production rates and costs remaining consistent, although profit margins are under pressure [6]. - Import and export data indicate a net import of carbon fiber products, with significant price differentials between imports and exports [6].

松田程成立于2000年，专业从事市政管网用聚乙烯阀门的研发、制造与销售，是"国家高新技术企 业"和"中关村高新技术企业"，也是北京市首批"专精特新"企业，具有特种设备生产资质、国家实验室 认可资格（CNAS），曾参与多项国家标准和行业标准的制定。松田程是国内最早研发生产燃气用直埋 PE球阀的企业之一，其产品具有耐热、节能、寿命长，耐腐蚀，密封性高，操作便利，安装便捷，系 统适应性强等特点，获得市场高度认可；松田程也是国内目前极少能提供供热二次网全塑化系统的企 业；其业务覆盖31个省及直辖市，主要客户为国内知名燃气、热力公司。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002372 证券简称：伟星新材 公告编号：2026-002 浙江伟星新型建材股份有限公司 2、根据《深圳证券交易所股票上市规则》和《公司章程》的规定，本次股权收购事项在公司董事长决 策权限之内，无需提交董事会和股东会审议。 关于收购北京松田程科技有限公司控股权的公告 浙江伟星新型建材股份有限公司（以下简称"公司"）及董事会全体成员保证信息披露的内容真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、交易概述 1、为了 ...

（记者 曾健辉） 每经头条（nbdtoutiao）——地方国资开始"抄底"法拍房！单价六七千元"扫货"广州南沙区超60套房 源，同小区二手房挂牌均价逾2万元 每经AI快讯，伟星新材1月23日晚间发布公告称，为了进一步完善燃气、热力等市政管网领域的产品 链，有效提升系统解决方案能力，加速推动市政工程业务商业模式转型升级，持续提升综合竞争力，公 司于2026 年1 月22日与林松月、边仙花签署了《关于北京松田程科技有限公司之股权转让协议》（以下 简称"股权转让协议"），拟以自有资金110,739,201.00元人民币向林松月收购其持有的北京松田程科技 有限公司（以下简称"松田程"或"标的公司"）88.2557%的股权，边仙花明确放弃优先受让权或类似其他 优先权利。 ...

证券代码：002372 证券简称：伟星新材 公告编号：2026-002 浙江伟星新型建材股份有限公司 关于收购北京松田程科技有限公司控股权的公告 浙江伟星新型建材股份有限公司（以下简称"公司"）及董事会全体成员保证信息披露 的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、交易概述 2、根据《深圳证券交易所股票上市规则》和《公司章程》的规定，本次股权收购事项 在公司董事长决策权限之内，无需提交董事会和股东会审议。 3、本次交易不构成关联交易，也不构成《上市公司重大资产重组管理办法》规定的重 大资产重组。 二、交易对方的基本情况 1、交易对方的基本信息 姓名：林松月 1 住所：北京市房山区长阳镇昊天北大街 1、为了进一步完善燃气、热力等市政管网领域的产品链，有效提升系统解决方案能力， 加速推动市政工程业务商业模式转型升级，持续提升综合竞争力，公司于 2026 年 1 月 22 日与林松月、边仙花签署了《关于北京松田程科技有限公司之股权转让协议》（以下简称"股 权转让协议"），拟以自有资金 110,739,201.00 元人民币向林松月收购其持有的北京松田程 科技有限公司（以下简称"松田程"或"标 ...

伟星新材公告，公司于2026年1月22日与林松月签署股权转让协议，拟以自有资金1.11亿元人民币收购 其持有的北京松田程科技有限公司88.2557%的股权，边仙花放弃优先受让权。松田程成立于2000年， 专注于市政管网用聚乙烯阀门的研发、制造与销售，是国内燃气用直埋PE球阀研发生产的先驱之一， 产品获得市场高度认可。本次收购旨在完善产品链，提升系统解决方案能力，加速市政工程业务转型升 级。交易不构成关联交易或重大资产重组，且已完成资产评估，评估价值1.57亿元，增值率27.32%。 ...

证券研究报告 工业/基础材料 重视顺周期建材均衡配置机会 华泰研究 2026 年 1 月 22 日│中国内地 动态点评 政策持续推进房地产止跌回稳，重视传统与新兴均衡配置机会 1 月 21 日住建部部长倪虹在接受采访时表示，今年将着力稳定房地产市场， 继续因城施策、精准施策，发挥好房地产融资"白名单"制度的作用，支持 房企合理的融资需求，支持居民刚性和改善性住房需求。我们认为积极的房 地产政策仍然有望加速地产止跌回稳，目前地产端数据已较为充分地反映在 建材股股价和估值，上市公司通过国内市占率提升、海外业务拓展和品类扩 张，个别公司已开始逐步体现收入端改善迹象。短期我们建议重视建材板块 传统顺周期与新兴科技成长的均衡配置机会，推荐东方雨虹、中国联塑、兔 宝宝、伟星新材、北新建材。 地产债务化解路径逐步明朗，建材公司减值或有改善 1 月 21 日万科公告"21 万科 02"债券持有人会议高票通过核心展期议案， 以"首付 40%现金兑付+小额持有人保障+明确资产增信"的组合拳，为行 业探索出一条理性协商的债务化解路径。消费建材板块前期信用减值已相对 充分，除业务更偏向工程属性的防水材料外，大部分企业单项减值计提已超 ...