建筑材料行业周报：把握淡季布局机会，行业有望触底回升

Investment Rating - The industry investment rating is maintained as "Recommended" [1] Core Viewpoints - The report suggests that the industry is expected to reach a bottom and rebound, with opportunities for investment during the off-season [2] - The real estate sector is showing more positive beta factors, indicating a favorable environment for retail building materials [7] - There is a focus on the cement industry's bottom improvement, with price increases during the off-season stabilizing profits [8] - The report recommends paying attention to high-dividend stocks for their allocation value [9] - A strategy for 2025 is outlined, indicating a profit bottom and an impending supply-demand turning point [10] Summary by Sections Industry Performance - The report highlights a 3.61% to 5.33% price change in building materials during the specified period [12] - Cement prices showed a slight increase of 0.1% with a significant year-on-year change of 57.44% [17] Market Trends - The North China market is experiencing an upward trend, supported by inventory levels at historical lows [21] - The East China market is slightly declining, with cautious trading behavior observed [21] - The South China market is seeing price reductions to promote sales, leading to a noticeable drop in transaction focus [21] Key Company Tracking - Shandong Fiberglass expects a significant net profit loss for 2024, with estimates ranging from -78.12 million to -117.18 million [43] - Four Square New Materials anticipates a revenue decline of 28.92% for 2024, with a net profit loss forecast [43] - Dongfang Yuhong's net profit is expected to decrease by 95.66% to 93.51% compared to the previous year [43]