[Table_Page] 投资策略周报|建筑材料 证券研究报告 [Table_Title] 建筑材料行业 普通电子布涨价超预期，上海拟收购二手房用作保租房 [Table_Summary] 核心观点： [Table_Gr ade] 行业评级 持有 前次评级 持有 报告日期 2026-02-08 [Table_PicQuote] 相对市场表现 [分析师： Table_Author]谢璐 SAC 执证号：S0260514080004 SFC CE No. BMB592 021-38003688 xielu@gf.com.cn 分析师： 张乾 SAC 执证号：S0260522080003 021-38003687 gzzhangqian@gf.com.cn 分析师： 陈琳云 SAC 执证号：S0260526010002 -10% 1% 12% 22% 33% 44% 02/25 04/25 07/25 09/25 11/25 02/26 建筑材料 沪深300 chenlinyun@gf.com.cn 请注意，张乾,陈琳云并非香港证券及期货事务监察委员会 的注册持牌人，不可在香港从事受监管活动。 [Table_ 相关研 ...

2月6日，东鹏控股大宗交易成交196.68万股，成交额1333.5万元，占当日总成交额的14.51%，成交价6.78元，较市场收盘价 7.5元折价9.6%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2026-02-06 | 003012 | 东鹏控股 | 6.78 | 35.00 | 237.30 机构专用 | | 中国中金财富证券 | | | | | | | | | 有限公司佛山分公 | | | | | | | | | 司 | | 2026-02-06 | 003012 | 东鹏控股 | 6.78 | 49.31 | 334.33 机构专用 | | 中国中金财富证券 | | | | | | | | | 有限公司佛山季华 | | | | | | | | | 五路证券营业部 | | 2026-02-06 | 003012 | 东鹏控股 | 6.78 | 29.50 ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | 2026-02-04 | 003012 | 东鹏控股 | 6.60 | 49.00 | 323.40 浙商证券股份有限 | 中国中金财富证券 | | | | | | | 公司金华分公司 | 有限公司佛山分公 | | | | | | | | 司 | | 2026-02-04 | 003012 | 东鹏控股 | 6.60 | 49.00 | 323.40 华泰证券股份有限 | 中国中金财富证券 | | | | | | | 公司南京分公司 | 有限公司佛山分公 | | | | | | | | 司 | | 2026-02-04 | 003012 | 东鹏控股 | 6.60 | 51.00 | 336.60 中国银河证券股份 | 中国中金财富证券 | | | | | | | 有限公司杭州建国 | 有限公司佛山季华 | | | | | | | 北路证券营 ...

- The report introduces a quantitative model framework for market trend analysis, focusing on five asset style stages: external growth, quality growth, quality dividend, value dividend, and bankruptcy value. The model evaluates assets based on their intrinsic attributes and prioritizes them using the sequence of g > ROE > D, analyzing whether there are "good assets" and whether they are "expensive" [5][8][9] - The model incorporates key factors such as expected growth (gf), actual growth (g), profitability (ROE), high dividend (D), and bankruptcy value (B/P). Each factor is associated with specific market phases, e.g., expected growth is relevant across all phases, while profitability is emphasized during maturity phases [9][12] - The quantitative model has demonstrated strong historical performance, achieving an annualized return of 27.67% since 2009. It has shown consistent excess returns in most years, particularly post-2017, with limited effectiveness in years like 2011, 2012, and 2016 [19][22] - The model's backtesting results for specific years include notable excess returns, such as 51% in 2009, 36% in 2013, and 62% in 2022. However, it also recorded underperformance in years like 2011 (-11%) and 2014 (-4%) [22] - The report details six specific strategies derived from the model, each focusing on different factors: - **Expected Growth Strategy**: Selects industries with the highest analyst-forecasted growth rates. Recent recommendations include sectors like automotive sales, lithium equipment, and tungsten [38][39] - **Actual Growth Strategy**: Focuses on industries with the highest unexpected growth (△g). Current recommendations include photovoltaic equipment, insurance, and coal chemical sectors [40][41] - **Profitability Strategy**: Targets high-ROE industries with low valuations under the PB-ROE framework. Recommended sectors include copper, liquor, and non-dairy beverages [43][44] - **Quality Dividend Strategy**: Utilizes a DP+ROE scoring system to identify industries. Current recommendations include forestry, lithium equipment, and fiberglass [46][47] - **Value Dividend Strategy**: Employs a DP+BP scoring system. Recommended sectors include security, daily chemicals, and buses [49][50] - **Bankruptcy Value Strategy**: Focuses on industries with the lowest PB+SIZE scores. Current recommendations include automotive sales, ceramics, and cotton textiles [53][54]

证券代码：003012 证券简称：东鹏控股 公告编号:2026-001 广东东鹏控股股份有限公司 关于取得发明专利证书的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 广东东鹏控股股份有限公司（以下简称"公司"）及控股子公司于近日取得 由国家知识产权局颁发的 8 项发明专利证书。截至本公告披露日，公司及控股子 公司累计取得各类型专利 2557 项，现有各类型有效专利 1331 项（其中包括发明 专利 453 项）。 | 序号 | 专利名称 | | 专利号 | | 专利申请日 | 专利权人 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 一种双片瓷砖的磨边 生产线及其控制方法 | ZL | 2023 1 | 1143663.4 | 2023 年 09 月 05 日 | 佛山市东鹏陶瓷有限公司； 广东东鹏控股股份有限公司； 丰城市东鹏陶瓷有限公司； | | | | | | | | 佛山市东鹏陶瓷发展有限公司 | | 2 | 一种提高瓷砖粘结强 度的低吸水率瓷砖 | ZL | 2024 1 | 00506 ...

每经头条（nbdtoutiao）——水贝黄金平台"杰我睿"兑付危机调查：40倍杠杆对赌，金价越涨平台越 亏！老板自称"还在深圳"，投资者：兑付方案本金打两折，无法接受 （记者 王晓波） 每经AI快讯，亚联机械1月29日晚间发布公告称，为了进一步开拓海外市场，服务海外客户，提升公司 持续发展能力，亚联机械股份有限公司以自有资金对外投资设立新加坡全资子公司亚联机械（新加坡） 股份有限公司，注册资本约为7.6万美元。 ...

Group 1 - The company, Yalian Machinery, is committed to continuously improving its performance to reward shareholders' trust and support [2] - The company emphasizes its focus on shareholder interests and aims to promote sustainable and healthy development [2]

Core Viewpoint - The company emphasizes that its stock price is influenced by various factors, including macroeconomic conditions, market sentiment, and financial performance, while maintaining that its operations are normal and focused on improving efficiency and profitability to create long-term value for shareholders [2]. Group 1 - The company is currently operating normally and is focused on enhancing operational efficiency [2]. - The company aims to improve profitability to generate long-term value for shareholders [2]. - The stock price is affected by multiple factors, including macroeconomic environment and market sentiment [2].

Group 1 - On January 20, Dongpeng Holdings executed a block trade of 3.1 million shares, with a total transaction value of 18.848 million yuan, accounting for 24.62% of the total trading volume for that day [1] - The transaction price was 6.08 yuan per share, representing an 11.24% discount compared to the market closing price of 6.85 yuan [1] - The block trade involved multiple institutional buyers, with significant volumes transacted through China International Capital Corporation and other brokerage firms [2]

Core Viewpoint - The article emphasizes the transformative impact of AI on the manufacturing industry, particularly in the ceramic tile sector, showcasing how AI enhances production efficiency, quality, and customization capabilities [1][15]. Group 1: AI Integration in Manufacturing - The company has transitioned from a labor-intensive model to an intelligent, automated workshop, significantly reducing human presence and improving environmental conditions [3][4]. - AI is utilized to manage raw material warehouses, ensuring consistent quality by automatically adjusting compositions based on real-time data [4][12]. - The drying process of raw materials is optimized through AI, which maintains energy efficiency and ensures uniform moisture levels, leading to a cleaner production environment [4][5]. Group 2: Quality Control and Standards - The introduction of the 5A ceramic tile standard, which aligns with international benchmarks, enhances product differentiation and consumer trust in quality [11][12]. - AI-driven quality inspection systems have drastically reduced defect rates, improving accuracy and efficiency in identifying product flaws [12][13]. - The integration of AI allows for real-time adjustments in production processes, ensuring high-quality outputs that meet the new standards [13][15]. Group 3: Future of Manufacturing - The combination of AI and the 5A standard is expected to revolutionize the ceramic industry, creating a new paradigm for quality and consumer awareness [15][16]. - The article suggests that AI will fundamentally reshape the value chain in manufacturing, influencing production, innovation, and business models [15][16]. - The shift towards AI in traditional industries signifies a broader trend of modernization and competitiveness in the Chinese manufacturing landscape [16].