建筑材料行业：政策组合拳加速落地；华东水泥价格近期涨幅明显

Investment Rating - The report maintains an "Overweight" rating for the construction materials sector [1]. Core Insights - Recent policy measures are accelerating implementation, leading to a notable increase in cement prices in East China [1]. - The real estate market is stabilizing, with a focus on policy measures aimed at promoting housing market recovery [1]. - Cement price increases are expected to continue due to industry self-discipline and production adjustments [1]. Summary by Sections Key Company Status - North New Materials: Current price at 31.53 CNY, with projected EPS of 2.5 CNY for 2024E [1]. - Conch Cement: Current price at 25.14 CNY, with projected EPS of 1.6 CNY for 2024E [1]. - China Glass: Current price at 10.33 CNY, with projected EPS of 0.7 CNY for 2024E [1]. - Weixing New Materials: Current price at 13.69 CNY, with projected EPS of 0.8 CNY for 2024E [1]. - Sankeshu: Current price at 39.22 CNY, with projected EPS of 0.8 CNY for 2024E [1]. - Huaxin Cement: Current price at 13.03 CNY, with projected EPS of 1.0 CNY for 2024E [1]. - Shandong Pharmaceutical Glass: Current price at 27.13 CNY, with projected EPS of 1.5 CNY for 2024E [1]. - Qibin Group: Current price at 5.94 CNY, with projected EPS of 0.8 CNY for 2024E [1]. - Dongfang Yuhong: Current price at 13.58 CNY, with projected EPS of 1.2 CNY for 2024E [1]. - Jianlang Hardware: Current price at 29.82 CNY, with projected EPS of 1.0 CNY for 2024E [1]. Market Trends - The construction materials sector saw a 2.85% increase in the past week, outperforming the Shanghai and Shenzhen 300 index, which rose by 0.98% [7]. - Cement prices are expected to rise further, driven by seasonal demand recovery and production discipline within the industry [1][2]. - The report highlights a positive outlook for major cement companies like Conch Cement and Huaxin Cement, which are positioned well for the upcoming recovery phase [2]. Economic Indicators - The report notes that national fixed asset investment and infrastructure investment have remained stable, providing a supportive backdrop for the construction materials sector [1]. - The real estate sector is showing signs of stabilization, with a slight narrowing in the decline of property sales and construction activities [1]. Recommendations - The report recommends focusing on companies with strong fundamentals and valuation, such as Weixing New Materials, North New Materials, and Sankeshu, as they are expected to benefit from the ongoing recovery in the construction materials sector [1][2].