机构：水泥板块具备高股息的配置逻辑

Group 1 - The Ministry of Industry and Information Technology held a meeting to discuss the stabilization of growth in the cement industry, emphasizing the need to implement the "Cement Industry Stabilization Growth Work Plan (2025-2026)" to enhance quality and efficiency [1] - The meeting highlighted the significant supply-demand imbalance in the cement industry, aiming for dynamic balance and industrial transformation while prohibiting new capacity and regulating existing capacity [1] - According to Everbright Securities, cement prices in East China have declined, with weak downstream demand observed before and after the National Day holiday, leading to an average shipment rate below 45% for major cement enterprises [1] Group 2 - Caitong Securities noted that the cement sector has a high dividend configuration logic, with expectations for demand recovery and price rebound, as current PE and PB ratios are at the bottom [2] - The cement industry has seen continuous strengthening of supply-side control measures, including the prohibition of new capacity and staggered production in northern regions, with production halts extending from 10 days to up to a month in some areas [2] - Future improvements in demand, particularly from real estate and infrastructure projects, are expected to enhance supply control capabilities, positively impacting prices and potentially restoring company profitability and valuations [2]