建筑材料行业周报：水泥涨价持续落地，旺季需求回升盈利改善

Investment Rating - The investment rating for the building materials industry is "Recommended (Maintain)" [1] Core Viewpoints - The cement price increase continues to take effect, and the demand during the peak season is recovering, leading to improved profitability [1] - Since the Politburo meeting on September 26, 2023, which aimed to stabilize the real estate market, a series of favorable policies have been introduced, showing gradual effects, with demand in some first- and second-tier cities beginning to stabilize and rise [1] - The recovery in the real estate market is expected to drive demand improvement in the building materials industry, leading to a rebound in industry valuations [1] Summary by Sections Cement Industry - In late October, national cement market demand slightly weakened month-on-month due to the northern regions entering the off-season and starting winter production adjustments; however, demand in southern regions remains stable [1] - Cement prices in East China have increased, leading to a rise in the national average cement price, supported by a series of favorable policies [1] - Key stocks to watch include leading cement companies such as Huaxin Cement (600801.SH), Shangfeng Cement (000672.SZ), and Conch Cement (600585.SH) [1] Glass Industry - During the week of October 18-24, 2024, the domestic float glass spot market saw a slight increase in transaction focus, with prices fluctuating across regions [1] - The overall market sentiment improved towards the end of the week, leading to better sales and some companies raising prices [1] - Key stocks to focus on include leading companies such as Qibin Group (601636.SH) and Jinjing Technology (600586.SH) [1] Consumer Building Materials - Since 2021, major consumer building material companies have begun to prepare for credit loss, and the short-term risk has decreased as of 2023 [1] - Companies are actively transforming channels and exploring overseas markets for new growth paths [1] - A series of favorable policies are expected to boost industry valuations, with recommended stocks including Weixing New Materials (002372.SZ) and Beixin Building Materials (000786.SZ) [1]