建筑材料行业周报：财政加大逆周期调节力度，支持房地产止跌回稳

Investment Rating - The industry investment rating is maintained at "Overweight" [6][10]. Core Viewpoints - The Ministry of Finance has emphasized increasing counter-cyclical fiscal policy efforts to support high-quality economic development, which is expected to boost market confidence [7]. - A series of targeted incremental policies have been introduced, particularly focusing on the real estate sector to stabilize the market [7]. - The report highlights four key measures to support the real estate market, including increasing debt limits, issuing special government bonds, utilizing special bonds and tax policies, and enhancing support for key groups [7]. - The fiscal policies aim to address demand, supply, and risk mitigation in the real estate market, with specific measures such as lowering housing loan rates and optimizing the supply of affordable housing [7]. - Future fiscal measures will focus on allowing special bonds for land reserves, supporting the acquisition of existing homes, and optimizing tax policies [7]. Industry Data Tracking - Cement: The national average price for cement was 517.97 RMB/ton, with a week-on-week increase of 3.4%. The demand is recovering slightly during the peak season [8][9]. - Flat Glass: The average price for float glass was 1274 RMB/ton, with a week-on-week increase of 9%. Inventory levels have decreased significantly, indicating improved demand [9]. - Photovoltaic Glass: The price remained stable at 21.25 RMB/square meter, with an operating rate of 72.12% [9]. - Fiberglass and Carbon Fiber prices remained stable during the reporting period [9]. Investment Suggestions - The report suggests focusing on resilient consumer building material leaders such as Weixing New Materials, Beixin Building Materials, and Tubao, as well as cement companies like Huaxin Cement and Anhui Conch Cement, which are expected to benefit from improved demand in the peak season [10].