Workflow
地产需求
icon
Search documents
水泥、民爆板块望受益新藏铁路等重点工程,持续看好高端电子布基本面量价齐升
Tianfeng Securities· 2025-08-12 06:13
Investment Rating - Industry Rating: Outperform the market (maintained rating) [4] Core Viewpoints - The cement and explosives sector is expected to benefit from key projects such as the New Tibet Railway, with a continuous positive outlook on the fundamentals of high-end electronic fabrics, which are seeing both volume and price increases [2][15] - Recent data shows that the sales area of commercial housing in 30 major cities was 1.2645 million square meters, down 13.04% year-on-year, indicating a decline in real estate demand [15] - The establishment of the New Tibet Railway Company with a registered capital of 95 billion yuan is anticipated to benefit local cement and explosives companies [15] - Current cement prices in many regions have reached or fallen below cost lines, and with rising coal prices, companies are facing increased profit pressures [2][18] - If industry self-discipline measures are effectively implemented, cement prices are expected to begin a recovery trend [2][18] Summary by Sections Market Review - During the week of August 4 to August 10, 2025, the Shanghai and Shenzhen 300 index rose by 1.2%, while the construction materials sector (CITIC) increased by 2.1%, with ceramics and cement sectors performing particularly well [12][18] - Notable stock performances included Zhenan Technology (+19.8%), ST Sansheng (+16.3%), and Tianshan Shares (+10.9%) [12] Key Sub-industry Tracking - Cement: The national cement market price remained stable, with slight adjustments in specific regions. The average shipment rate for major regions was around 44% [18] - Glass: The photovoltaic glass market showed slight price increases, with the main order prices for 2.0mm coated panels rising by 2.38% [18] - Fiberglass: The market for non-alkali yarns remained weak, with average prices declining by 2.06% compared to the previous week [19] Recommended Stocks - The report recommends focusing on companies such as Qingsong Jianhua, Gaozheng Minbao, Xibu Cement, Huaxin Cement, Honghe Technology, and Zhongcai Technology, indicating a favorable outlook for these stocks in the current market environment [20]