建材行业周报：优化地产税收政策落地，城中村改造政策支持扩至300城

Investment Rating - The report maintains an "Increase" rating for the construction materials industry [2]. Core Insights - The Ministry of Finance and other departments have optimized real estate tax policies, reducing the deed tax rate for the purchase of the only and second homes not exceeding 140 square meters to 1% [15][16]. - The support for urban village renovation policies has expanded to nearly 300 cities, which is expected to release urbanization development potential [16][17]. - From January to October 2024, the year-on-year decline in real estate sales area continues to narrow, indicating a potential stabilization in the real estate market [16][19]. - The report suggests focusing on leading companies in the real estate chain, such as Beixin Building Materials, Jianlang Hardware, Weixing New Materials, and Dongfang Yuhong, as well as monitoring projects like the墨脱 Hydropower Station and the Gan-Yue Canal [20]. Summary by Sections 1. Key Insights and Investment Recommendations - The report highlights the reduction of deed tax rates for homes and the expansion of urban village renovation policies, which are expected to stabilize market expectations and accelerate the recovery of the real estate market [15][16][19]. 2. Market Review 2.1. Sector Performance - The A-share construction materials index fell by 5.24% from November 11 to November 15, 2024, underperforming the CSI 300 index by 1.94 percentage points [21]. - Year-to-date, the construction materials index has decreased by 1.99%, lagging behind the CSI 300 index by 17.66 percentage points [22]. 2.2. Stock Performance - The top-performing stocks this week include Gu Di Technology (+14.77%) and Zhongqi New Materials (+11.11%), while the worst performers include Huali Shares (-14.44%) and Ju Li Culture (-12.77%) [30]. 3. Industry Dynamics - The report notes a weak price trend in the domestic alkali-free yarn market, with prices declining slightly [35]. - Cement prices have shown mixed trends, with some regions experiencing price increases due to supply constraints [39]. - The floating glass market is stabilizing, with prices remaining steady amid fluctuating demand [42]. 4. Company Dynamics - The report mentions that companies are actively upgrading old production capacities to improve efficiency and reduce costs [43]. - A significant investment of 2.3 billion yuan is planned for the construction of an electronic-grade glass fiber production line, expected to be completed by the end of 2025 [44]. 5. Company Announcements - Huajian Group signed a daily operation contract worth 56.9537 million yuan for a new medical center design project [46].