建材行业策略周报：地产收储持续落地，产业链需求待修复

Investment Rating - The report maintains a "Positive" investment rating for the building materials industry [1] Core Insights - The demand for cement is recovering slowly, with regional price fluctuations observed. The glass market is stabilizing, awaiting demand recovery [4][16] - The Shenzhen Anju Group's announcement to purchase residential properties for affordable housing is a significant move to stabilize the real estate market and alleviate pressure on property developers [3][8] - The report suggests a long-term positive outlook for consumer-end companies such as Weixing New Materials, Beixin Building Materials, and Tubao, while recommending attention to B-end companies like Dongfang Yuhong and Sankeshu for potential rebounds [3][8] Summary by Sections Consumer Building Materials - Shenzhen Anju Group is actively acquiring residential properties to convert into affordable housing, with over 10 cities already issuing similar announcements [3][8] - The government aims to build 1.704 million affordable housing units in 2024, with 1.128 million already completed by June, representing 66.2% of the annual target [8] Cyclical Materials - Cement demand is limited, with a national average shipment rate increase of only 2% in key regions. Price fluctuations are noted, with some areas experiencing price drops due to weak demand [4][16][17] - The report highlights that major cement companies maintain high dividend yields, with some trading at historical low valuations, indicating a safety margin for investors [16] New Materials - The fiberglass market shows stable pricing for coarse yarn, while fine yarn prices remain unchanged. The carbon fiber market is experiencing weak demand, with prices stabilizing at low levels [5][19] - The report indicates that the electronic yarn market is stable, with limited new orders and a focus on existing customer orders [19]