“反内卷”催化建材筑底反弹，关注全市场最大的建材ETF（159745）

Group 1 - The current "anti-involution" movement differs from the previous supply-side reform, as it encompasses a broader range of industries beyond traditional manufacturing [1] - Recent policies and initiatives from the Central Financial Committee have elevated market awareness of "anti-involution," impacting sectors like steel, building materials, coal, and photovoltaics [1] - The cement sector has been in a downward cycle, with companies attempting production limits to self-rescue, but price increases have not been very effective [1] Group 2 - The cement industry has shown a narrowing decline in demand compared to last year, with some marginal improvements due to infrastructure investment [2] - Despite expectations for a traditional peak season, the cement industry did not meet demand in the second quarter, leading to calls for better implementation of production capacity policies [2] - The cement industry's high concentration allows major companies to coordinate production limits, making the implementation of "anti-involution" policies relatively easier [2] Group 3 - Investment opportunities in the cement sector can be explored through the Building Materials ETF (159749), which tracks the construction materials index [3] - The ETF includes stocks related to cement and glass, both of which are involved in the "anti-involution" movement [3]