Core Viewpoint - The A-share market shows positive momentum with the Shanghai Composite Index closing at 4122.58 points, above the annual line, reflecting a slight increase of 0.14% [1] Group 1: Market Performance - The total trading volume of A-shares reached 27,165.07 billion yuan [1] - 120 A-shares have surpassed the annual line, indicating a bullish trend in the market [1] Group 2: Notable Stocks - Stocks with significant deviation rates include: - Teruisi (特瑞斯) with a deviation rate of 22.45% and a daily increase of 29.98% [1] - Qingyun Technology (青云科技) with a deviation rate of 17.76% and a daily increase of 20.00% [1] - Zhongbei Communication (中贝通信) with a deviation rate of 9.06% and a daily increase of 10.00% [1] - Other stocks with smaller deviation rates that have just crossed the annual line include: - Meiansen (梅安森) and Founder Securities (方正证券) [1]

Group 1 - The company is committed to improving operational quality and shareholder rights amidst current industry challenges and macroeconomic conditions [1] - The management has applied AI and smart technology in various products, including smart home and smart community solutions, featuring functionalities like facial recognition, voice control, and smart security [1] - The company is exploring opportunities for AI technology integration in both hardware and software development [1] Group 2 - The company acknowledges the importance of adapting to industry trends and is focused on creating better returns for shareholders [1] - There is an emphasis on continuous monitoring of industry dynamics and technological advancements [1]

Group 1 - The core point of the article is that Jianlang Hardware (002791) reported a total of 33,155 shareholders as of January 20, 2026 [1]

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]

Core Viewpoint - The Chinese damping hinge industry is undergoing a critical phase of structural adjustment and technological innovation, with a projected market size of approximately 27.354 billion yuan in 2024, reflecting a year-on-year growth of 7.33% [1][9]. Industry Overview - Damping hinges, also known as hydraulic hinges or buffer hinges, utilize hydraulic buffering technology to achieve a slow closing of doors, effectively reducing impact and ensuring a quiet and smooth closure [2]. - The market for damping hinges is expanding beyond high-end custom furniture into broader home markets due to increasing consumer demand for "quietness, safety, and high durability" [1][9]. Industry Chain - The upstream of the damping hinge industry includes raw materials such as stainless steel, alloy elements, hydraulic oil, plastics, rubber, and various production equipment [4]. - The midstream involves the manufacturing of damping hinges, while the downstream applications span across furniture, automotive, medical devices, and industrial equipment [4]. Market Size - The damping hinge market is expected to grow significantly, driven by the rise of smart homes and the integration of damping technology with IoT sensors, creating new intelligent application scenarios [1][9]. - There is also a growing demand for specialized damping hinges in sectors like automotive and medical equipment, which require unique performance characteristics [1]. Key Companies' Performance - The competitive landscape of the damping hinge industry is characterized by a low market concentration but strong advantages for leading companies [10]. - Guangdong Topstrong's damping hinges feature a "two-stage force buffering" technology, while Star徽精密 focuses on high-end manufacturing for international brands [10][11]. - In the first three quarters of 2025, Topstrong reported a revenue of 689 million yuan, a year-on-year decrease of 13.48%, while its net profit increased by 222.32% to 12 million yuan [10]. Industry Development Trends 1. **Technological Innovation**: The industry is transitioning from traditional hydraulic buffering to smart damping and lightweight solutions, with advancements in digital design technologies and new damping materials [12]. 2. **Market Demand Diversification**: The demand structure is shifting, with traditional furniture markets stabilizing while new applications in automotive, 3C electronics, and smart homes are expected to drive significant growth [12]. 3. **Industry Consolidation**: The damping hinge industry is moving towards consolidation, with leading companies leveraging scale, technology, and capital advantages to increase market share, while smaller firms face challenges due to overcapacity and stricter environmental regulations [13].

Group 1 - The core point of the article is that Jianlang Hardware has reported the number of its shareholders as of January 9, 2026, which stands at 32,638 households [2]

Group 1 - The company has a sales contact point in Taiwan, but the market share in this region is currently small [2] - The company has established a strategic partnership with HCG (和成卫浴) [2]

Group 1 - The core viewpoint of the news is that Jianlang Hardware has experienced fluctuations in stock price and financial performance, with a notable decrease in revenue and net profit for the year 2025 [1][2][3] Group 2 - As of January 8, Jianlang Hardware's stock price increased by 2.01% to 21.80 CNY per share, with a total market capitalization of 7.715 billion CNY [1] - The company reported a net outflow of 368,000 CNY in main funds, with significant buying and selling activity from large orders [1] - Jianlang Hardware's revenue for the period from January to September 2025 was 4.297 billion CNY, a year-on-year decrease of 12.50%, while the net profit attributable to shareholders was 16.56 million CNY, down 49.61% year-on-year [2] Group 3 - The company has a diverse revenue composition, with the main business segments including window and door hardware systems (41.47%), other building hardware products (15.79%), and home-related products (15.49%) [1] - Jianlang Hardware has distributed a total of 621 million CNY in dividends since its A-share listing, with 134 million CNY distributed in the last three years [3] - As of September 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which increased its holdings by 1.2779 million shares [3]

1 | （如适用） | | | --- | --- | | 3.内部审计部门和审计委员会的人员构成是否合规（如适用） | √ | | 4.审计委员会是否至少每季度召开一次会议，审议内部审计部门提交的 | √ | | 工作计划和报告等（如适用） | | | 5.审计委员会是否至少每季度向董事会报告一次内部审计工作进度、质 | √ | | 量及发现的重大问题等（如适用） | | | 6.内部审计部门是否至少每季度向审计委员会报告一次内部审计工作 | √ | | 计划的执行情况以及内部审计工作中发现的问题等（如适用） | | | 7.内部审计部门是否至少每季度对募集资金的存放与使用情况进行一 | √ | | 次审计（如适用） | | | 8.内部审计部门是否在每个会计年度结束前二个月内向审计委员会提 | √ | | 交次一年度内部审计工作计划（如适用） | | | 9.内部审计部门是否在每个会计年度结束后二个月内向审计委员会提 | √ | | 交年度内部审计工作报告（如适用） | | | 10.内部审计部门是否至少每年向审计委员会提交一次内部控制评价 | √ | | 报告（如适用） | | | 11.从事风险投资、 ...

Group 1 - The core viewpoint of the article is that Jianlang Hardware (002791) has disclosed its shareholder count, which is projected to reach 32,359 by December 31, 2025 [1]