中信证券：玻纤“反内卷”和复价推进，龙头企业盈利弹性可期

Group 1 - The core viewpoint of the article is that the Chinese fiberglass industry is taking steps to combat excessive competition and price pressure through a joint initiative by the China Fiberglass Industry Association and nine companies, promoting a collaborative approach to maintain market stability and product pricing [1] - On September 5, the initiative was launched, with some companies responding positively by increasing the prices of raw yarn products by 5% to 10%, indicating a potential recovery in pricing within the industry [1] - The competitive landscape of the fiberglass industry is favorable, with leading companies having strong market influence, and the recent initiative is expected to enhance profitability, especially for those with advantages in product structure, production costs, and market positioning [1] Group 2 - The initiative explicitly aims to resist malicious price competition and blind expansion, which will further promote high-quality development and transformation within the industry [1] - The recent price recovery is anticipated to improve industry profitability, particularly in the context of a favorable high-end product structure [1] - Leading companies in the fiberglass sector are expected to exhibit higher profit elasticity due to their comprehensive advantages [1]