建材行业周报：北京拟取消普通住宅划分，地产仍存优化空间

Investment Rating - The report maintains an "Accumulate" rating for the construction materials industry [1]. Core Insights - The report highlights that Beijing plans to cancel the classification of ordinary and non-ordinary residential properties, which is expected to lower housing costs and stimulate demand for improved housing. The overall real estate market is still in a bottoming phase, but the new policies are anticipated to boost market confidence and stabilize expectations [1][7]. - In August, the decline in real estate sales further narrowed, with new commodity housing sales area down 18.0% year-on-year for the first eight months of 2024, a slight improvement from the previous month. The report suggests that while new housing sales may continue to decline, the market is expected to recover gradually [6][9]. - The report notes that the A-share construction materials index rose by 2.01% during the week of September 18-20, outperforming the Shanghai and Shenzhen 300 index by 0.68 percentage points [9][11]. Summary by Sections 1. Core Insights and Investment Recommendations - The report indicates that the real estate market is showing signs of recovery due to policy optimizations, particularly in first and second-tier cities. It recommends focusing on leading companies in the real estate supply chain, such as Beixin Building Materials and Jianlang Hardware [8][9]. 2. Market Review 2.1. Sector Performance - The construction materials sector outperformed the broader market indices, with a weekly increase of 2.01% [9][11]. 2.2. Individual Stock Performance - Top-performing stocks included Sankeshu (+8%), Ruitai Technology (+7.99%), and Jianlang Hardware (+7.99%) during the week [16][19]. 3. Industry Dynamics - The report discusses the stability in the market for non-alkali fiberglass, with prices remaining steady. The cement market has seen a slight decline in prices, with the average price for bagged cement at 315.16 yuan/ton, down 0.81% week-on-week [20][22]. - The report also notes that the price of float glass continues to face downward pressure, with inventory levels increasing [23]. 4. Company Dynamics - Weixing New Materials is focusing on enhancing its retail business and improving channel construction to increase market share. The company is also optimizing its waterproof and water purification business models to adapt to the current market environment [25]. 5. Company Announcements - Dongfang Yuhong announced a cash dividend distribution plan, while China Chemical reported a contract amount of 256.128 billion yuan for the first eight months of 2024 [27].