HUAXI Securities·2025-08-24 13:18Investment Rating - Industry Rating: Recommended [4] Core Viewpoints - The construction materials sector is experiencing a favorable investment moment due to the "anti-involution" trend and the arrival of peak season, leading to accelerated self-discipline in the cement industry. Recommended stocks include Huaxin Cement and Conch Cement, among others [1][5] - The cement market price is stabilizing at 364.15 CNY/ton, with an average shipment rate of 45.7% in key regions. The price is expected to maintain a steady upward trend [2][22] - The photovoltaic glass industry is witnessing price increases at the bottom level, with mainstream order prices for 2.0mm coated panels rising to approximately 11 CNY/sqm, reflecting a 2.33% increase [2][75] - The real estate market shows signs of marginal improvement, with new home transaction areas in 30 major cities reaching 154.48 million sqm, a 24.22% increase from the previous week [3][18] Summary by Sections Cement Industry - The national cement market price is 364.15 CNY/ton, showing stability amid tight funding and adverse weather conditions affecting demand recovery. The average shipment rate in key regions is around 45.7% [2][22] - Regions like Jiangsu and Anhui are seeing price increases of 20-30 CNY/ton, while areas like Fujian are experiencing price declines of 10-50 CNY/ton due to weak demand [22][48] Photovoltaic Glass - The market for photovoltaic glass is showing positive trading activity, with prices for 2.0mm coated panels increasing by 2.33% to around 11 CNY/sqm. The inventory levels are decreasing, indicating a tightening supply [75][76] Real Estate Market - The transaction volume for new homes in 30 major cities has improved, with a total area of 154.48 million sqm sold, reflecting a 24.22% week-on-week increase. The second-hand housing market also shows a 9% increase in transaction volume [3][18] Recommended Stocks - Recommended stocks include Huaxin Cement, Conch Cement, and others in the cement sector, as well as companies like Dongfang Yuhong and Keshun Co., which are benefiting from price increases in waterproofing products [1][5] - In the photovoltaic glass sector, stocks such as Qibin Group and Fuyao Glass are highlighted for their potential gains from price increases [1][5]