建筑材料行业周报：玻纤再发复价计划，关注地产政策持续发酵

Investment Rating - The report maintains an "Overweight" rating for the construction materials industry, with specific companies recommended for increased holdings [2]. Core Insights - The report highlights a positive shift in the beta factors related to real estate, suggesting that leading consumer building materials companies are likely to benefit from channel optimization and retail category expansion, which may lead to sustained market share growth [3][14]. - The cement industry is expected to stabilize profits through price increases, with signs of a bottom emerging as the industry collaborates on pricing strategies [19][21]. - High dividend yield stocks are recommended for investment, with the construction materials sector showing a cash dividend ratio of 43.86% and a 12-month dividend yield of 2.20% [23]. Summary by Sections 1. Industry Views and Investment Recommendations - The report emphasizes the importance of real estate policies in improving the performance of building materials, indicating a turning point for consumer building materials [14]. - It suggests actively positioning in leading consumer building materials companies such as SanKeTree, DongPeng Holdings, and TuBaoBao, while also monitoring BeiXin Building Materials, DongFeng Rain, and WeiXing New Materials [3][14]. - The cement sector is projected to recover from profit lows, with collaborative price increases expected to support profitability [19][21]. 2. Market Performance (Nov 25 - Nov 29) - The construction materials index increased by 3.29%, outperforming the Shanghai Composite Index [33]. 3. Price Changes in Construction Materials - The report notes a slight decrease of 0.1% in national cement prices during the specified week, with a cumulative production of 1.501 billion tons of cement from January to October 2024, reflecting a year-on-year decline of 10.3% [41].