建材工业景气指数回升，积极布局建材投资

Core Insights - The construction materials index increased by 0.14% during the week of August 25 to August 29, 2025, underperforming the CSI 300 index, which rose by 2.71% [1][3] - Over the past three months, the CSI 300 index has risen by 16.33%, while the construction materials index increased by 20.59%, indicating a 4.26% outperformance of the construction materials sector [1][3] - In the past year, the CSI 300 index has increased by 35.39%, and the construction materials index has risen by 42.76%, showing a 7.38% outperformance [1][3] Industry Overview - The construction materials industry prosperity index rose to 101.2 in August, up 6.4 points from July, marking an end to three consecutive months of contraction [2] - The supply-side production index returned to expansion, while the price index remains in contraction, indicating restored production but pressured prices [2] - Investment demand and industrial consumption indices have both returned above the critical point, reflecting the effects of infrastructure funding and real estate policies [2] - The international trade index remains below the critical point, indicating continued weakness in external demand [2] Recommendations - Recommended companies in the consumer building materials sector include: - Sanke Tree (channel expansion and retail growth) - Dongfang Yuhong (waterproofing leader with optimized operations) - Weixing New Materials (high-quality operations with significant retail business) - Jianlang Hardware [2] - Beneficiary companies include: - Beixin Building Materials (gypsum board leader with diversified expansion in coatings and waterproofing) - Conch Cement, Huaxin Cement, and Shangfeng Cement in the cement sector [2] Price Trends - As of August 29, 2025, the average price of P.O 42.5 bulk cement was 275.40 CNY/ton, down 1.81% from the previous period [4] - The average price of float glass was 1190.94 CNY/ton, with a slight increase of 0.26% [5] - The price of asphalt remained stable at 4570 CNY/ton, up 2.93% since the beginning of 2025 [6]