Group 1 - Xi Jinping met with New Zealand Prime Minister Chris Hipkins, indicating a focus on strengthening bilateral relations [2] - Li Qiang held talks with New Zealand Prime Minister Chris Hipkins, emphasizing cooperation [3] - Li Qiang stressed the importance of innovation-driven development during a research visit in Jiangsu, aiming to expand effective demand and promote sustained economic growth [4] Group 2 - The provincial committee held a meeting to convey Xi Jinping's important speeches and directives, discussing implementation strategies [5] - The Vice Governor of Sichuan emphasized the integration of education and technology to support national strategies and promote high-quality development [5] - The National Engineering Supervision Industry Development Conference was held in Beijing, focusing on engineering supervision reform and the integration of digital technology [5] Group 3 - Qinghai issued implementation opinions to accelerate the construction of star-rated green buildings, outlining specific requirements for planning, construction, and operation [6] - Xi'an released measures to promote a stable and healthy real estate market, focusing on land planning, financial support, and market activity [6] - A safety training session for construction enterprise leaders was organized in Chengdu, attended by over 170 participants [6] Group 4 - Panzhihua City held a safety production meeting to analyze the current safety situation in the construction industry and set goals for 2025 [7] - Mianyang issued a plan for the green building materials industry chain from 2025 to 2030, aiming to enhance the quality and collaboration of the building materials sector [7] - Neijiang established a supply list of major building material enterprises and a demand list for ongoing and planned projects in the construction sector [7] Group 5 - Yibin held a training session for rural construction guides, focusing on quality and safety in self-built houses [8] - Meishan introduced an intelligent electricity strategy in urban lighting, aiming to reduce energy consumption by over 30% [8]

Investment Rating - The report maintains a recommendation for the building materials industry [2] Core Views - The real estate chain is stabilizing due to continued policy support, and industrial transformation is aiding fundamental recovery [1] - The cement market is experiencing weak demand and price fluctuations, while the float glass market is seeing price declines and weak shipments [1][12][13] - The consumption building materials sector is benefiting from ongoing "good housing" construction initiatives, with leading companies in sub-sectors maintaining their advantages [15][16] Summary by Sections 1. Weekly Core Views - Cement Industry: Demand remains poor, with prices continuing to decline. The national average cement price fell by 0.9% week-on-week, with significant price drops in regions like North China and South China [12][22] - Float Glass Industry: Prices are declining, with the national average price at 1200 RMB/ton, down 7.14 RMB/ton from the previous week. The market is facing weak demand and cautious purchasing behavior [13] - Fiberglass Industry: The price of non-alkali roving remains stable, while electronic yarn prices are seeing slight increases due to tight supply [14] - Consumption Building Materials: The government is emphasizing affordable housing and youth apartment supply, which is expected to boost demand for consumption building materials [15][16] 2. Industry Dynamics - Macro: The e-commerce logistics index in May rose to 111.6 points, indicating a steady increase in supply and demand [20] - Real Estate: Policies are being implemented to enhance community services and support flexible employment in housing funds [20] - Infrastructure: Investment in railway and civil aviation construction is expected to grow, with significant projects planned for unconventional water development [21] 3. Recommended Stocks - Weixing New Materials: Transitioning to a system integration service provider with a focus on risk control and sustainable growth [17] - Mona Lisa: Aiming for high-end market positioning with continuous improvement in operational quality [18] - Keshun Co.: Expected recovery in profitability as the waterproofing industry consolidates [19] - North New Materials: Expanding globally with a focus on gypsum board and related products [19] - Dongpeng Holdings: Diversifying product offerings to meet comprehensive consumer needs [19]

Core Viewpoint - The "old-for-new" policy in the building materials industry aims to stimulate consumption, enhance living conditions, and promote the upgrade of home furnishings through subsidies and incentives, benefiting both consumers and companies [1][2][3]. Group 1: Policy Impact - The "old-for-new" policy is crucial for stabilizing growth in the building materials sector, effectively stimulating consumer demand and revitalizing the renovation market for existing homes [2][3]. - The government has introduced a series of supportive measures, including subsidies for home renovation and the promotion of smart home products, to encourage the replacement of old materials [2][3]. - The subsidy standards for home renovation products are set at a maximum of 15% of the actual sales price, with higher rates for energy-efficient products and those aimed at elderly-friendly modifications [2][3]. Group 2: Industry Response - The building materials industry has actively responded to the "old-for-new" initiative, with 43 key enterprises participating and implementing diverse service offerings across various sales channels [3][4]. - Notable achievements include a 60% increase in retail performance for Dongpeng Group in specific regions and significant sales figures from Red Star Macalline, indicating the effectiveness of the initiative [3][4]. Group 3: Consumer Trends - There is a growing consumer preference for health, sustainability, and smart features in building materials, with products like smart toilets and anti-bacterial materials gaining popularity [5][6]. - The demand for comprehensive renovation services is increasing, with consumers favoring all-in-one solutions that minimize disruption to their daily lives [6]. Group 4: Future Developments - The 2025 plan aims to expand the range of building materials eligible for subsidies, focusing on high-demand products such as ceramic tiles and energy-efficient materials [7][8]. - Companies are enhancing service efficiency through integrated online and offline platforms, aiming to streamline the "old-for-new" process for consumers [8].

Core Viewpoint - Chengdu's Housing and Urban-Rural Development Bureau has officially issued the "Chengdu 'Good House' Construction Action Plan," outlining 18 key tasks to guide the construction of quality housing, focusing on design, low-carbon energy efficiency, and supporting facilities [1][6]. Group 1: Design and Construction - The plan emphasizes a shift towards "scheme bidding" and "team bidding" for design contracts, aiming to enhance the quality of architectural design through high-quality demonstration projects and benchmarking against advanced works [1][6]. - It encourages the promotion of prefabricated decoration design to improve construction efficiency and quality [1]. Group 2: Green Building Materials - The plan aims to increase the number of certified green building materials by 10% through active applications from material production enterprises [6]. - It promotes the adoption of smart construction technologies, including building information modeling, construction robots, and smart construction elevators [6]. Group 3: Quality Control - The plan calls for strengthened control over the entire construction process and the quality of building materials, including enhanced management of material identification and supervision of acceptance processes [7]. - It introduces measures for the renovation of old urban communities and the upgrading of existing housing stock, including various methods such as demolition and reconstruction [7]. Group 4: Community and Operational Efficiency - Specific measures are proposed to optimize community environments, enhance operational efficiency, and leverage technology in construction and management [8].

Core Viewpoint - The Chinese building materials industry has achieved full coverage of carbon emission accounting in key areas for the first time, showcasing innovative green building materials that enhance living quality [1]. Group 1: Innovative Building Materials - A special ceramic plate has been developed with high strength, excellent translucency, and a smooth glaze, making it resistant to breakage even when dropped from nearly one meter [2]. - A remarkable fire-resistant glass consists of three layers, with two layers of special fire-resistant gel in between, which successfully withstands temperatures exceeding 1000°C while maintaining a surface temperature of only 68°C [3][4]. - The fire-resistant glass can provide over one hour of escape time during a fire in high-rise buildings due to its unique structure that effectively blocks heat transfer [6]. Group 2: Space Efficiency and Cost-Effectiveness - A new composite wall made of soundproof gypsum board is significantly thinner (12 cm) compared to traditional brick walls (over 25 cm), while offering higher strength, fire resistance, and lower costs [8]. - The soundproof performance of the new wall reaches an impressive 66 decibels, effectively blocking out sounds such as piano playing from adjacent rooms [8]. - The reduction in wall thickness allows for an increase in indoor space, potentially adding around 8 square meters to a typical 100 square meter apartment, equivalent to an additional small room [9].

Core Viewpoint - The "old-for-new" policy in the building materials industry aims to stimulate consumption and promote the renovation of existing homes, thereby driving stable growth and transformation in the sector [1][2]. Group 1: Policy Impact - The "old-for-new" policy is crucial for stabilizing growth in the building materials industry, effectively stimulating consumer demand and activating the renovation market for existing homes [2]. - The government has introduced a series of supportive policies to encourage home renovations and promote new consumption patterns, including smart home products [2][3]. - The "2024 Building Materials Industry Old-for-New Action" has seen participation from 43 key enterprises across eight categories, providing diverse services and discounts to consumers [2][3]. Group 2: Market Performance - Key participating companies have reported significant performance improvements, with Dongpeng Group experiencing a 60% increase in retail performance in certain regions and a 189.2% increase in revenue [3]. - Red Star Macalline's participation in the "old-for-new" initiative resulted in 525,400 orders and sales of 5.23 billion yuan from January to May 2025 [3]. Group 3: Consumer Trends - Consumers are increasingly prioritizing health, sustainability, and smart features in their purchasing decisions, leading to a demand for eco-friendly and high-quality building materials [4][5]. - The aging population has driven a notable increase in demand for home renovations that cater to elderly needs, such as smart toilets and temperature-controlled shower systems [5]. Group 4: Subsidy Mechanism - The 2025 "old-for-new" policy will include subsidies for home renovation materials, clarifying funding sources and expanding the range of eligible products [6][7]. - Subsidy standards have been set, with a maximum of 15% for general products and up to 30% for elderly-friendly renovation products, aiming to enhance consumer participation [6][7]. Group 5: Service Innovations - Companies like Red Star Macalline are enhancing service efficiency by integrating online and offline resources, providing comprehensive support for the "old-for-new" process [7][8]. - Jomoo Group is expanding its service network to ensure timely and efficient installation and renovation services, further improving customer experience [8].

Core Viewpoint - The aluminum alloy mat market in China is experiencing slow growth, with a projected market size of 1.351 billion yuan in 2024, expected to reach 1.438 billion yuan by 2031, reflecting a compound annual growth rate (CAGR) of only 0.38% [2]. Market Overview - The penetration rate of aluminum alloy mats in traditional application scenarios such as office buildings and commercial centers is already high, limiting growth potential due to a significant decrease in new construction projects. The completion area of office buildings is expected to decline by 35.2% year-on-year in 2024, while commercial properties are projected to drop by 31.6% [5]. - The CAGR for sales in office buildings and commercial centers is forecasted at 0.12% and 0.87%, respectively. In contrast, the transportation hub sector is expected to see a CAGR of 2.08%, benefiting from the "14th Five-Year Plan" for transportation infrastructure [5]. Product Segmentation - Embedded aluminum alloy mats account for over 80% of the revenue market share, offering advantages such as aesthetics, durability, safety, and ease of maintenance. They are widely used in high-traffic areas like commercial centers, airports, hotels, office buildings, and subway stations [6]. - The market is highly fragmented, with the top three manufacturers (Qingdao Deljie, 3M, and Beijing Futai Technology) holding only 11.26% of the market share, indicating a "long-tail competition" characteristic [6]. Industry Drivers - Accelerated infrastructure and urbanization construction are increasing demand for durable, safe, and aesthetically pleasing aluminum alloy mats, offsetting declines in the commercial center and office building markets [6]. - Government policies supporting new urbanization, industrial upgrades, and environmental improvements are providing market space and policy benefits for the aluminum alloy mat industry [6][8]. Industry Challenges - Fluctuations in raw material prices and supply chain instability are putting pressure on production costs, with significant risks associated with rising costs impacting pricing and profit margins [8]. - Intensified market competition is leading to product homogenization and frequent price wars in low-end products, which may reduce overall industry profit margins and affect long-term investments in research and market development [8]. Future Trends - The aluminum processing industry is witnessing technological advancements and the development of new materials, enhancing the performance and quality of aluminum alloy mats to meet market demands for high-quality products [8]. - The Chinese government is actively promoting green building and energy-saving materials, with policies encouraging the use of environmentally friendly, energy-efficient, and recyclable building materials, positioning aluminum alloy mats favorably in the market [8].

当下，在"双碳"目标的稳步推进下，绿色建材的身影已融入城市与乡村的各类建筑中，从公共设施到私 人住宅，绿色建材的应用日益广泛。工业和信息化部、国家发展改革委等十部门联合印发的《绿色建材 产业高质量发展实施方案》预测，到2026年，绿色建材的年营业收入将突破3000亿元。面对这一巨大市 场潜力，国内众多企业纷纷积极布局，力求在这场绿色浪潮中抢占先机。 绿色创新：从"自然孕育"到"绿色健康" 在绿色建材产业的发展中，企业扮演着重要角色。 "作为家具板材行业的领先企业，千年舟集团不断塑造绿色发展新动能。从'自然孕育千年舟'到'绿色健 康家'，从'0醛生活倡导者'到助推ENF级新国标制定，在绿色建材领域不断探索创新。"千年舟集团执行 总经理田茂华在接受采访时表示，通过科技创新、产品创新和工艺技术创新，千年舟寻找差异化竞争优 势，利用数字驱动提升运营效率，通过"产研合一"实现产品力创新，为行业树立了标杆。 4月19日，在千年舟以"样板力量·大国智造"为主题的品牌日上，一款名为"石墨烯黑金板"的板材吸引了 众多目光。这款由千年舟联合浙江大学高烯科技团队历时3年研发的"健康功能板"，依托石墨烯材料的 抗菌抗病毒、防霉、净醛 ...

Group 1 - Starry Meizu officially enters the Middle East market, launching multiple products including the Meizu 21 series smartphones and various smart wearable devices [2] - New Hope Group signs a 15-year LNG purchase agreement with ADNOC, committing to an annual supply of approximately 1 million tons of LNG, marking the largest LNG contract between the UAE and a Chinese partner [2] - Zhejiang Construction International and Alawael Group sign a strategic cooperation agreement to exclusively collaborate on engineering and construction projects in the Middle East, excluding Saudi Arabia [2] Group 2 - Shanghai Foreign Economic Group and Tadweer Group sign a memorandum of understanding to develop a facility in Abu Dhabi that converts industrial solid waste into green building materials [3] - UNCTAD and the UAE Ministry of Investment sign a memorandum to enhance cooperation in investment policy formulation and sustainable economic development [3] - UAE establishes the Global Energy Efficiency Alliance to improve energy efficiency across various sectors, aiming to double the rate of energy efficiency improvements by 2030 [3] Group 3 - Dubai International Airport retains its title as the world's busiest international airport for the 11th consecutive year, serving 92.3 million passengers in the previous year, a 6.1% increase from 2023 [4] - Abu Dhabi's tourism sector is projected to contribute 62 billion dirhams (approximately 16.9 billion USD) to the economy by 2025, with a 13% year-on-year growth [4] - Dubai South's MBRAH completes the first phase of its aerospace supply chain zone, covering 1.29 million square feet, with ongoing expansion projects [4] Group 4 - Abu Dhabi launches a life sciences cluster expected to contribute 25.6 billion USD to GDP and create 30,000 medical jobs by 2045 [5] - UAE updates tax regulations, adopting OECD guidelines on global anti-base erosion rules, furthering its commitment to international tax standards [5] - Ajman reports a 41% year-on-year increase in real estate transaction value, reaching 2.06 billion dirhams in March 2025 [6]