建材ETF（159745）盘中上涨超2.6%，水泥板块政策利好引关注

Group 1 - The core viewpoint is that despite the downturn in the cement industry, certain companies are demonstrating strong performance resilience and profitability due to regional positioning, management, and strategic advantages [1] - The cement market supply-demand dynamics are expected to improve by 2025, leading to a potential continuous recovery in cement prices and a rebound in industry performance [1] - Although the overall gross margin of the industry has been declining, leading companies are enhancing their cyclical resilience through overseas expansion and diversified business layouts, with plans to increase overseas cement capacity from 25 million tons to approximately 50 million tons [1] Group 2 - The construction materials ETF (159745) tracks the building materials index (931009), which selects listed companies related to construction raw materials and decorative materials from the Shanghai and Shenzhen markets [1] - The building materials index constituents exhibit strong cyclical characteristics and primarily cover infrastructure and real estate-related sectors, reflecting a high sensitivity to economic cycles [1]