水泥行业筑底修复，资金抢筹建材板块，建材ETF（159745）近20日资金净流入超15亿元

Group 1 - The cement industry has passed its darkest hour, with profits solidly bottoming out and showing significant recovery [1] - On the demand side, expectations for real estate policies are strengthening, and the new housing market is gradually stabilizing, with urbanization development offering ample room for transformation [1] - Annual demand for stock updates is approximately 700 million square meters, providing a solid foundation [1] Group 2 - Structural opportunities in infrastructure, such as major projects like the Western Development strategy, will lead to regional market demand prosperity [1] - On the supply side, expectations for anti-involution are continuously strengthening, with policies promoting the unification of actual and registered production capacity, expected to reduce capacity by over 40 million tons [1] - By 2026, under the anti-involution strategy, supply-side control is anticipated [1] Group 3 - The overall cash flow of the industry is favorable, indicating conditions for long-term stable dividends, with upstream coal prices expected to remain low and fluctuate [1] - It is projected that by 2026, the industry's profits will achieve overall recovery, and dividend yields are expected to increase under the trend of enhancing shareholder returns [1] - The Building Materials ETF (159745) tracks the construction materials index (931009), which mainly covers companies engaged in the manufacturing and sales of cement, glass, ceramics, and other building materials [1]