建筑材料行业：10月动态报告-三季报业绩承压，供给侧迎积极信号

Investment Rating - The report recommends investment in leading companies in the building materials sector, including Beixin Building Materials, Huaxin Cement, China Jushi, and Qibin Group [3][7]. Core Viewpoints - The building materials industry is expected to face weak demand, weak supply, and low prices in 2024, with the overall industry prosperity index adjusted to 92.2 points [3][23]. - The cement market is showing signs of recovery in demand, with prices increasing due to profit pressure and improved supply-demand dynamics [2][31]. - The glass fiber sector is experiencing a recovery in demand for roving, while electronic fiber remains stable [2][56]. Summary by Sections 1. Industry Weak Performance and Transition Acceleration - The building materials industry plays a crucial role in supporting various sectors, including infrastructure and strategic emerging industries [13]. - The "14th Five-Year Plan" emphasizes green low-carbon and intelligent manufacturing as future development directions for the industry [15]. 2. Demand Recovery and Supply Regulation - Cement prices have risen due to improved supply-demand conditions and profit pressures [2][31]. - The float glass market is seeing a temporary recovery in demand due to year-end rush orders [2][43]. - Retail sales of construction and decoration materials improved month-on-month, driven by policy support [2][51]. 3. Performance of Key Companies - In the first three quarters of 2024, 77 listed companies in the building materials sector reported a total revenue of 519.67 billion yuan, a year-on-year decrease of 11.60% [3][4]. - The profitability of these companies has declined, with net profit down 51.14% year-on-year [3][4]. 4. Investment Recommendations - Recommended companies include Beixin Building Materials, Huaxin Cement, and China Jushi, which are expected to benefit from policy support and market recovery [3][7].