1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report 2.1 Stock Index Strategy - A-share broad-based indices had positive weekly gains, with the Science and Technology Innovation 50 having the largest cumulative increase of 4.63% and the CSI 500 rising over 3%. The US and the EU reached a trade agreement, and the US June durable goods orders had a sharp decline. China's June industrial enterprise profits showed a narrowing decline, and the CSRC aimed to consolidate the market. Considering the market sentiment cooling and high technical indicators, the stock index's slow bull trend remains unchanged, but there may be a near-term correction, so a defensive wait-and-see approach is advisable [12]. 2.2 Treasury Bond Strategy - In the bond market, funds are flowing out, and with macro events concentrated at the end of July and early August, the bond market may experience an adjustment in a volatile pattern. Whether to participate on the left side or wait for the release of position pressure depends on the investor's position, duration, and tolerance. It is recommended to focus on taking profits [13]. 2.3 PMI - In June, the manufacturing PMI rose to 49.7%, better than expected, with both supply and demand improving. However, there were structural differences, such as small enterprises' contraction intensifying and the high-tech manufacturing industry remaining flat. Only 7 out of 15 sub - industries had better sentiment than in May [20]. 2.4 Inflation - In May 2025, the CPI had a slight year - on - year decline, and the PPI also decreased year - on - year. The current price situation shows "food differentiation and services stronger than goods," and the core inflation momentum is still insufficient. The decline in PPI is affected by international and domestic factors, but there are also positive changes in some areas [29][32]. 2.5 Industrial Enterprise Profitability - In May, the year - on - year growth rate of profits of industrial enterprises above designated size declined, mainly due to the decline in volume, price, and profit margin, with the profit margin having the most significant impact. Enterprises may adopt a strategy of reducing prices to clear inventory [35]. 2.6 Fiscal Situation - From January to May, the national general public budget revenue decreased slightly year - on - year, while the expenditure increased. The tax revenue recovery margin slowed down, and the real - estate - related tax drag increased. The fiscal expenditure rhythm slowed down marginally, and the government fund revenue decline widened while the expenditure slowed down [38][41]. 2.7 Industrial Added Value - In May, the year - on - year growth rate of industrial added value declined, while the service industry added value increased. The production - sales imbalance persists, and export - related production is weak. The GDP growth rate in the second quarter is expected to exceed 5% [44]. 2.8 Fixed - Asset Investment - From January to May, the year - on - year growth rate of fixed - asset investment declined. Investment in infrastructure, manufacturing, and real estate all decreased. Although the real - estate physical volume was not weak this month, the real - estate investment was still under pressure in terms of funds [47]. 2.9 Social Retail Sales - In May, the year - on - year growth rate of social retail sales increased, mainly driven by the early start of the 618 promotion and the strong performance of the May Day holiday in driving offline consumption [50]. 2.10 Social Financing - In May, the new social financing was 2.3 trillion yuan, with government bonds being the main support. Although the social financing growth rate is expected to rise in the second and third quarters, there is still pressure for it to rise and then fall in the second half of the year [53]. 2.11 Import and Export - In May, China's exports and imports continued to grow, with exports performing well. The central region led the national foreign trade growth. Due to the Sino - US trade relationship and the leading growth rate of processing trade, exports are expected to maintain resilient growth in June [59]. 2.12 US Non - Farm Payrolls - In May 2025, the US labor market showed resilience, with more new jobs than expected. However, there were internal structural differences. The service industry had employment growth, while the commodity production sector was weak. The wage growth exceeded expectations, strengthening inflation concerns and giving the Fed more reason to stay on the sidelines [62][65]. 2.13 US CPI - In May, the US CPI and core CPI increased year - on - year as expected. The inflation pressure on core commodities and services was controllable. The Fed maintained the interest rate target range and emphasized high uncertainty, so it tended to stay on the sidelines [68]. 2.14 US PMI - In June, the US Markit manufacturing PMI was stable at 52, and the service industry PMI was slightly lower. The manufacturing growth was mainly driven by inventory, and the inflation pressure increased significantly. The current US economy shows a "weak expansion + high inflation" characteristic, and the growth momentum may further weaken [71]. 3. Summaries According to the Catalog 3.1 Financial Futures Strategy Recommendations 3.1.1 Stock Index Strategy - **Strategy Outlook**: Adopt a defensive wait - and - see approach [11]. - **Trend Review**: A - share broad - based indices had positive weekly gains [12]. - **Technical Analysis**: The RSI indicator shows a potential correction risk for the market index [12]. 3.1.2 Treasury Bond Strategy - **Strategy Outlook**: Focus on taking profits [13]. - **Trend Review**: The bond market was volatile, and the treasury bond futures showed a downward trend [13]. - **Technical Analysis**: The KDJ indicator shows that the T main contract may operate weakly in a volatile manner [13]. 3.2 Key Data Tracking 3.2.1 PMI - In June, the manufacturing PMI rose, with both supply and demand improving. However, there were structural differences among different enterprise sizes, industries, and sub - industries [20]. - The price and inventory situation also showed different characteristics at the industry level, with some industries replenishing inventory and others reducing inventory through price cuts [23]. - The non - manufacturing PMI rose, mainly due to the increase in the construction industry PMI, while the service industry PMI declined [26]. 3.2.2 Inflation - In May 2025, the CPI had a slight year - on - year decline, with food price differentiation and service prices being more resilient. The PPI decreased year - on - year, mainly affected by international and domestic factors, but there were positive changes in some areas [29][32]. 3.2.3 Profitability of Industrial Enterprises above Designated Size - In May, the year - on - year growth rate of profits declined, mainly due to the decline in volume, price, and profit margin. Enterprises may be adopting a strategy of reducing prices to clear inventory [35]. 3.2.4 Fiscal - From January to May, the national general public budget revenue decreased slightly year - on - year, and the expenditure increased. The tax revenue recovery margin slowed down, and the real - estate - related tax drag increased. The fiscal expenditure rhythm slowed down marginally, and the government fund revenue decline widened while the expenditure slowed down [38][41]. 3.2.5 Industrial Added Value - In May, the year - on - year growth rate of industrial added value declined, while the service industry added value increased. The production - sales imbalance persisted, and export - related production was weak [44]. 3.2.6 Fixed - Asset Investment - From January to May, the year - on - year growth rate of fixed - asset investment declined. Investment in infrastructure, manufacturing, and real estate all decreased. Although the real - estate physical volume was not weak this month, the real - estate investment was still under pressure in terms of funds [47]. 3.2.7 Social Retail Sales - In May, the year - on - year growth rate of social retail sales increased, mainly driven by the early start of the 618 promotion and the strong performance of the May Day holiday in driving offline consumption [50]. 3.2.8 Social Financing - In May, the new social financing was 2.3 trillion yuan, with government bonds being the main support. The social financing growth rate is expected to rise in the second and third quarters but may face pressure to rise and then fall in the second half of the year [53]. 3.2.9 Import and Export - In May, China's exports and imports continued to grow, with exports performing well. The central region led the national foreign trade growth. Exports are expected to maintain resilient growth in June [59]. 3.2.10 US Non - Farm Payrolls - In May 2025, the US labor market showed resilience, with more new jobs than expected. There were internal structural differences, and wage growth exceeded expectations, strengthening inflation concerns [62][65]. 3.2.11 US CPI - In May, the US CPI and core CPI increased year - on - year as expected. The inflation pressure on core commodities and services was controllable, and the Fed tended to stay on the sidelines [68]. 3.2.12 US PMI - In June, the US Markit manufacturing PMI was stable at 52, and the service industry PMI was slightly lower. The manufacturing growth was mainly driven by inventory, and the inflation pressure increased significantly [71]. 3.2.13 Weekly Focus - There are important economic indicators and events to be released in the coming week, including the US GDP, FOMC interest rate decision, and China's official and Caixin manufacturing PMIs [73].

Group 1 - Hainan provincial state-owned enterprises completed fixed asset investment of 22.42 billion yuan in the first half of the year, achieving 52.45% of the annual investment plan, successfully meeting the "half-time, half-task" goal [1] - Key projects such as the expansion of Phoenix Airport and Boao Airport have progressed over 60%, while projects like the Hainan Police Academy and Hainan University dormitory have exceeded 80% of their annual investment plans [1] - The provincial state-owned assets supervision and administration commission has arranged 71 key projects with an annual investment of 30.506 billion yuan, completing 16.676 billion yuan in the first half, which is 54.99% of the annual plan [1] Group 2 - In the "Strengthening Marine" sector, Hainan enterprises are planning multiple projects in deep-sea aquaculture and marine new industries [2] - In the "Strengthening Sky" sector, projects related to commercial aerospace are being developed, including enhancements to the Hainan commercial space launch site [2] - In the "Strengthening Green" sector, key water resource projects have completed investments of 2.013 billion yuan, achieving 55.2% of the annual plan [2] - The provincial state-owned assets commission aims to improve project implementation rates and support enterprises in overcoming challenges to accelerate project construction [2]

Economic Overview - Chengdu's GDP for the first half of the year reached 12,108.2 billion yuan, with a year-on-year growth of 5.8% at constant prices [1] - The primary industry added value was 186.7 billion yuan, growing by 2.7% [1] - The secondary industry added value was 3,267.4 billion yuan, growing by 5.3% [1] - The tertiary industry added value was 8,654.2 billion yuan, growing by 6.0% [1] Industrial Growth - The industrial added value for large-scale enterprises in Chengdu increased by 7.8% year-on-year [2] - Among 37 major industries, 25 experienced positive growth, with non-ferrous metal smelting and rolling processing, automotive manufacturing, and electronic equipment manufacturing showing significant increases of 41.7%, 23.6%, and 17.3% respectively [2] - High-tech manufacturing added value grew by 12.1% [2] - Key industrial products saw substantial production increases, including new energy vehicles (352.2%), smartwatches (119.2%), and lithium-ion batteries (45.8%) [2] Service Sector Performance - The service sector's added value grew by 6.0% year-on-year [2] - Notable growth was seen in leasing and business services (10.7%), information transmission and software services (10.7%), and transportation and storage (7.4%) [2] - By the end of June, financial institutions reported a 9.8% increase in deposits and a 10.4% increase in loans [2] Investment Trends - Fixed asset investment in Chengdu grew by 6.0% year-on-year [3] - Investment in the primary industry increased by 15.3%, while the secondary industry saw a 40.7% increase, with industrial investment specifically rising by 41.3% [3] - The tertiary industry investment declined by 0.8%, with real estate development investment down by 2.8% [3] - High-tech industry investment surged by 37.4%, with high-tech manufacturing investment growing by 59.1% [3] Consumer Market Insights - The total retail sales of consumer goods reached 5,622.3 billion yuan, reflecting a year-on-year growth of 6.1% [3] - Urban retail sales amounted to 4,928.6 billion yuan (6.0% growth), while rural retail sales were 693.7 billion yuan (6.6% growth) [3] - Key consumer categories showed varied growth, with telecommunications equipment retail sales increasing by 64.5% and home appliances by 34.5% [3] - New energy vehicles saw a growth of 21.0% within the automotive category [3]

Economic Overview - In the first half of 2025, Jilin Province's GDP reached 682.33 billion yuan, with a year-on-year growth of 5.7%, an increase of 0.2 percentage points compared to the first quarter [1] - The industrial sector showed steady progress, with the added value of above-scale industries growing by 7.8%, surpassing the national average by 1.4 percentage points [1] Agricultural Sector - The agricultural, forestry, animal husbandry, and fishery sectors saw an overall growth, with an added value of 37.48 billion yuan, reflecting a year-on-year increase of 4.3%, which is 0.4 percentage points higher than the national average [1] - Specific growth rates for major agricultural products included 7.0% for crops, 10.2% for forestry, 3.6% for animal husbandry, and 9.6% for fisheries [1] Industrial Sector - The equipment manufacturing industry experienced a significant increase, with an added value growth of 19.5%, accounting for 10.9% of the province's above-scale industrial output [2] - Key industries such as information technology, pharmaceuticals, and electricity production achieved double-digit growth rates of 21.5%, 16.8%, and 10.3% respectively [1] Service Sector - The service sector's added value grew by 5.6%, contributing 63.8% to the province's GDP, with a contribution rate increase of 11.3 percentage points compared to the first quarter [2] - The information transmission, software, and IT services sectors saw a growth of 7.2%, while scientific research and technical services grew by 13.0% [2] Investment and Consumption - Fixed asset investment (excluding rural households) increased by 1.0%, with the second industry investment rising by 8.8% and the third industry by 1.9% [3] - The total retail sales of consumer goods reached 211.72 billion yuan, marking a year-on-year growth of 4.8%, with significant increases in furniture and home appliances retail sales [3]

Group 1: Economic Indicators - The core price level is gradually recovering, with financial support for the real economy increasing, indicating a gradual accumulation of internal economic momentum under policy support [1] - In June 2025, the CPI rose from -0.1% to 0.1%, while the PPI decreased from -3.3% to -3.6% [1] - The manufacturing PMI increased from 49.5% to 49.7%, showing slight improvement in manufacturing activity [1] Group 2: CPI Analysis - The core CPI growth has been continuously recovering, with a year-on-year increase of 0.7% in June, the highest in nearly 14 months [4] - Factors contributing to the core CPI recovery include rising gold prices, the "old-for-new" policy supporting durable goods prices, and a moderate rebound in service prices [4] Group 3: PPI Analysis - The PPI fell by 3.6% year-on-year in June, with the decline widening by 0.3 percentage points compared to the previous month [7] - The decrease in PPI is attributed to slower construction in real estate and infrastructure, as well as an oversupply of industrial raw materials [7] Group 4: PMI Insights - The PMI for June was reported at 49.7%, a 0.2 percentage point increase from the previous month, indicating seasonal recovery [10] - Among 21 surveyed industries, 11 are in the expansion zone, reflecting improved manufacturing sentiment [10] Group 5: Fixed Asset Investment - Fixed asset investment in June showed a year-on-year increase of 2.8%, down from 3.7% in May, with real estate development investment declining by 12.9% [13] - The decline in real estate sales and investment growth is contributing to a negative feedback loop with falling housing prices and PPI [13] Group 6: Credit Performance - New RMB loans in June amounted to 22.4 billion yuan, significantly higher than the previous month's 6.2 billion yuan [16] - The strong credit performance is driven by multiple factors, including seasonal increases in lending and effective financial policies [16] Group 7: M2 Growth - M2 growth accelerated to 8.3% in June, the highest in nearly 15 months, with a notable narrowing of the M1-M2 gap [20] - The increase in M2 and M1 indicates improved financial support for the real economy, although M1 growth remains relatively low [20]

Group 1: Report Industry Investment Rating - There is no clear report industry investment rating provided in the content [1] Group 2: Core Views of the Report - On Tuesday, most of the opening prices of the main contracts of treasury bond futures were slightly higher, but they declined in the morning and accelerated the decline in the afternoon, closing at a low level. The 30 - year, 10 - year, 5 - year, and 2 - year treasury bond futures main contracts (TL2509, T2509, TF2509, TS2509) fell by 0.40%, 0.09%, 0.05%, and 0.01% respectively [1] - The short - term interest rate in the inter - bank capital market on Tuesday was lower than the previous trading day. The weighted average of DR001 was 1.31% (1.36% the previous day), and the weighted average of DR007 was 1.47% (1.49% the previous day) [1] - The closing yields of inter - bank treasury bond cash bonds on Tuesday were higher than the previous trading day. The yields of 2 - year, 5 - year, 10 - year, and 30 - year treasury bonds increased by 0.26 BP, 1.38 BP, 1.33 BP, and 2.20 BP respectively [1] - In June, the growth rate of fixed - asset investment, infrastructure investment, and manufacturing investment was lower than expected and lower than that in May. The year - on - year increase in total retail sales of consumer goods was also lower than expected. However, export growth and industrial added value exceeded expectations [1] - Recently, domestic real estate sales and prices continued to decline, and China's economic growth in the second half of the year faces challenges, requiring continuous efforts to expand domestic demand [1] - The progress of the U.S. tariff negotiation postponed to August 1 is an important factor affecting the global financial market. The Ministry of Industry and Information Technology announced on July 18 that multiple anti - involution and stable - growth policies will be introduced, which short - term increased market risk preference [1] - The stock index may adjust at any time after a short - term rapid increase, and the treasury bond futures main contract prices may rebound after a continuous significant decline. Short - term long - term treasury bond futures contracts may fluctuate widely, and short - term contracts may remain stable [1] Group 3: Summary by Related Catalogs Market Review - On Tuesday, most of the opening prices of the main contracts of treasury bond futures were slightly higher, with a decline in the morning and an accelerated decline in the afternoon. The 30 - year (TL2509), 10 - year (T2509), 5 - year (TF2509), and 2 - year (TS2509) treasury bond futures main contracts fell by 0.40%, 0.09%, 0.05%, and 0.01% respectively [1] Important Information - Open market: On Tuesday, the central bank conducted 214.8 billion yuan of 7 - day reverse repurchase operations, with 342.5 billion yuan of reverse repurchases and 120 billion yuan of treasury cash fixed - term deposits maturing [1] - Capital market: The short - term interest rate in the inter - bank capital market on Tuesday was lower than the previous trading day. The weighted average of DR001 was 1.31% (1.36% the previous day), and the weighted average of DR007 was 1.47% (1.49% the previous day) [1] - Cash bond market: The closing yields of inter - bank treasury bond cash bonds on Tuesday were higher than the previous trading day. The yields of 2 - year, 5 - year, 10 - year, and 30 - year treasury bonds increased by 0.26 BP, 1.38 BP, 1.33 BP, and 2.20 BP respectively [1] Market Logic - In June, the growth rate of fixed - asset investment, infrastructure investment, and manufacturing investment was lower than expected and lower than that in May. The year - on - year increase in total retail sales of consumer goods was also lower than expected. However, export growth and industrial added value exceeded expectations [1] - Recently, domestic real estate sales and prices continued to decline, and China's economic growth in the second half of the year faces challenges, requiring continuous efforts to expand domestic demand [1] - The progress of the U.S. tariff negotiation postponed to August 1 is an important factor affecting the global financial market. The Ministry of Industry and Information Technology announced on July 18 that multiple anti - involution and stable - growth policies will be introduced, which short - term increased market risk preference [1] - The stock index may adjust at any time after a short - term rapid increase, and the treasury bond futures main contract prices may rebound after a continuous significant decline. Short - term long - term treasury bond futures contracts may fluctuate widely, and short - term contracts may remain stable [1] Trading Strategy - Traders should conduct band operations [2]

7月21日，金华市上半年"经济成绩单"出炉：根据浙江省地区生产总值统一核算结果，上半年，金华市 实现地区生产总值3456.11亿元，按不变价格计算，同比增长6.4%，分别高于全国、全省1.1和0.6个百分 点，排名全省第五位。 张益晓 "增"是关键词，如工业生产较快增长、现代服务业增势良好、以旧换新相关商品快速增长、居民消费支 出增速较快等。上半年，金华市规模以上工业增加值同比增长8.6%，高于全国、全省平均2.2、1.0个百 分点。分三大门类看，采矿业增长22.6%，制造业增长9.4%，电力热力燃气及水生产和供应业下降 0.5%。分行业看，33个行业大类中，21个行业增加值实现增长，增长面63.6%。规模前十大行业"八增 二降"，其中汽车制造、计算机通信、电气机械等行业增加值分别增长61.1%、23.0%和9.6%。新兴产业 有力拉动，战略性新兴产业、高端装备制造业、高技术产业增加值分别增长21.5%、19.4%和16.9%。 "金"字招牌持续擦亮。一方面，固定资产投资持续快增，投资结构持续优化。上半年，金华市固定资产 投资增长16.4%，高于全国、全省平均13.6、15.0个百分点。分产业看，第一产业投资 ...

Economic Overview - The GDP of Zhaoqing City reached 135.8 billion yuan in the first half of 2025, with a year-on-year growth of 5.2% at constant prices [2] - The primary industry added value was 17.5 billion yuan, growing by 4.8%; the secondary industry added value was 53.6 billion yuan, growing by 4.9%; and the tertiary industry added value was 64.6 billion yuan, growing by 5.6% [2] Agricultural Performance - The agricultural, forestry, animal husbandry, and fishery sectors achieved a total output value of 30.9 billion yuan, with a year-on-year increase of 5.5% [2] - Specific growth rates included planting (4.2%), forestry (6.5%), animal husbandry (4.8%), fishery (6.4%), and auxiliary activities (10.9%) [2] - Vegetable production reached 1.446 million tons, increasing by 3.1%; live pig output was 1.746 million heads, up by 7.1%; and total aquatic products amounted to 270,400 tons, growing by 4.4% [2] Industrial Growth - The industrial added value above designated size grew by 4.5% year-on-year [3] - Manufacturing and electricity, heat, gas, and water production and supply industries both grew by 4.6%, while mining decreased by 19.0% [3] - Notable growth in specific manufacturing sectors included electrical machinery (21.8%), automotive (20.2%), and computer and electronic equipment (15.6%) [3] - Newly established industrial enterprises showed remarkable performance with a 116.9% increase in added value, contributing 2.0 percentage points to overall industrial growth [3] - Advanced manufacturing increased by 17.6%, accounting for 39.0% of the industrial added value [3] Consumer Market - The total retail sales of consumer goods reached 60.9 billion yuan, with a year-on-year growth of 2.8% [4] - Retail sales of goods were 57.3 billion yuan, growing by 2.8%, while catering revenue was 3.52 billion yuan, increasing by 2.0% [4] - Urban retail sales were 48.0 billion yuan, up by 2.8%, and rural retail sales were 12.8 billion yuan, also growing by 2.8% [4] - The "old-for-new" policy significantly boosted sales in home appliances and cultural office supplies, with increases of 152.6% and 77.3% respectively [4] - Online retail sales through public networks reached 12.3 billion yuan, growing by 10.9% [4] Investment Trends - Fixed asset investment decreased by 8.8% year-on-year [4] - Infrastructure investment, however, grew by 10.0%, while construction and industrial investments fell by 1.2% and 11.8% respectively [4] - Real estate development investment saw a significant decline of 39.2%, with commercial housing sales area dropping by 37.9% [5] Financial Sector - By the end of June, the total balance of deposits was 411.4 billion yuan, increasing by 8.3% year-on-year, while the total balance of loans was 361.6 billion yuan, growing by 7.6% [5] - The Consumer Price Index (CPI) showed a slight decrease of 0.3% year-on-year, with food prices down by 0.5% and non-food prices down by 0.8% [5]

Economic Overview - The GDP of Ziyang City for the first half of 2025 reached 53.01 billion yuan, reflecting a year-on-year growth of 7% [1] - The primary industry added value was 7.16 billion yuan, growing by 3.0%; the secondary industry added value was 16.31 billion yuan, increasing by 11.6%; and the tertiary industry added value was 29.54 billion yuan, rising by 5.7% [1] Agricultural Sector - The total output value of agriculture, forestry, animal husbandry, and fishery in Ziyang City was 13.14 billion yuan, with a year-on-year growth of 3.0% [1] - The production of pork, beef, and mutton increased by 2.5% and 5.1% respectively, with a total meat output of 123,000 tons, growing by 0.7% [1] - Aquatic product output reached 46,000 tons, marking a growth of 6.4% [1] Investment and Industrial Growth - Fixed asset investment in Ziyang City grew by 8.7% year-on-year [1] - The added value of industrial enterprises above designated size increased by 15.8% [1] - Key industries showed significant growth: equipment manufacturing grew by 21.6%, clean energy by 31.8%, electronic information by 39.3%, and food and light textile industries by 4.4% [1] - Among 31 major industry categories, 23 experienced positive growth, with 18 achieving double-digit growth [1] Service Sector Performance - The added value of the service industry increased by 5.7% year-on-year [2] - Notable growth in sectors included leasing and business services at 11.0%, information transmission, software, and IT services at 10.5%, and accommodation and catering at 7.2% [2] Consumer Market Trends - The total retail sales of social consumer goods reached 21.43 billion yuan, with a year-on-year growth of 4.4% [2] - Retail sales of gold, silver, and jewelry increased by 22.5%, while home appliances and audio-visual equipment grew by 23.8% [2]

Core Viewpoint - The construction materials sector is experiencing price fluctuations, with a notable decline in cement prices compared to previous years, while other materials like glass and fiberglass show mixed trends in pricing and demand [1][3][6]. Group 1: Cement Market - The national high-standard cement market price is 343.8 yuan/ton, down 3.3 yuan/ton from last week and down 46.2 yuan/ton from the same period in 2024 [1][3]. - Average cement inventory among sample enterprises is 65.8%, up 0.1 percentage points from last week but down 1.8 percentage points from 2024 [3]. - The average cement shipment rate is 45.9%, up 2.4 percentage points from last week but down 0.5 percentage points from 2024 [3]. Group 2: Glass Market - The average price of float glass is 1212.0 yuan/ton, up 7.0 yuan/ton from last week but down 324.1 yuan/ton from 2024 [3]. - The inventory of float glass among sample enterprises is 5.559 million heavy boxes, down 175,000 heavy boxes from last week and down 292,000 heavy boxes from 2024 [3]. - The glass industry is expected to see a supply-side contraction, which may improve the short-term supply-demand balance and lead to price stabilization [8]. Group 3: Fiberglass Market - The domestic fiberglass market is experiencing a downward trend in pricing, with mainstream prices for non-alkali yarn at 3200-3700 yuan/ton, down 0.54% from the previous week [3][7]. - The market for electronic fiberglass is stable, with mainstream prices for G75 remaining at 8800-9200 yuan/ton [3][7]. - The industry is expected to see a recovery in profitability as supply-demand balance improves, particularly in high-end products driven by technological advancements [7]. Group 4: Investment Recommendations - Companies such as Shanghai Port Bay, Yipuli, and Huaxin Cement are recommended due to their potential benefits from infrastructure investments and stable demand expectations [5]. - The construction materials sector is suggested for investment due to its low valuation and potential for recovery, particularly in leading companies like Huaxin Cement and Sichuan Road and Bridge [5][10]. - The fiberglass sector is highlighted for its growth potential, especially for companies like Zhongcai Technology and Honghe Technology, which are positioned to benefit from technological upgrades [5][7].