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建筑材料行业周报：房地产税三箭齐发，回调才是赚“认知差”的机会
Hua Yuan Zheng Quan·2024-11-17 11:46

Investment Rating - The investment rating for the building materials industry is "Positive" (maintained) [2] Core Viewpoints - The recent optimization of real estate tax policies is expected to positively impact both demand and supply, accelerating the reshaping of the supply-demand landscape in the real estate market [1][2] - The report emphasizes that the real estate market has entered a new development phase, shifting from quantity expansion to quality optimization, which will better meet diverse housing needs [24][25] Summary by Sections 1. Sector Tracking - The building materials index has decreased by 5.2% during the week, with sub-sectors such as cement and glass fibers also showing declines [18] - Notable stock performances include Gu Di Technology (+14.8%) and Zhongqi New Materials (+11.1%) [18] 2. Data Tracking 2.1 Cement - The average price of 42.5 cement nationwide is 427.2 CNY/ton, up 1.7 CNY/ton month-on-month and up 51.5 CNY/ton year-on-year [32] - The cement inventory ratio is 66.5%, down 0.2 percentage points month-on-month and down 7.5 percentage points year-on-year [32] 2.2 Float Glass - The average price of 5mm float glass is 1582.5 CNY/ton, up 46.1 CNY/ton month-on-month but down 540.4 CNY/ton year-on-year [54] - Inventory levels in key provinces have decreased by 4.8% month-on-month [54] 2.3 Photovoltaic Glass - The average price for 2.0mm coated photovoltaic glass is 12.0 CNY/sqm, unchanged month-on-month but down 6.8 CNY/sqm year-on-year [64] - The inventory days for photovoltaic glass have decreased to 38.19 days, down 81.2% month-on-month [64] 2.4 Glass Fiber - The average price of alkali-free glass fiber yarn is 4575.0 CNY/ton, down 10.0 CNY/ton month-on-month but up 495.0 CNY/ton year-on-year [73] - The average price of electronic yarn is 9200.0 CNY/ton, unchanged month-on-month and up 1300.0 CNY/ton year-on-year [73] 2.5 Carbon Fiber - The average price of large tow carbon fiber is 72.5 CNY/kg, unchanged month-on-month but down 2.0 CNY/kg year-on-year [83] - The average operating rate of carbon fiber enterprises is 50.87%, up 1.97 percentage points month-on-month [83]