Investment Rating - The report indicates a preference for low valuation and high dividend yield styles in the current market environment, with a focus on sectors such as banking and coal, which have shown positive performance [1][2]. Core Views - The report emphasizes the importance of adhering to fundamentals and resisting uncertainties as market conditions become more challenging. It suggests focusing on four key areas: overseas expansion, AI new materials, western border regions, and real estate chain leaders [2][3]. - The report highlights the potential for significant growth in companies involved in overseas expansion, AI new materials, and those operating in western regions of China. It also notes that real estate chain leaders are beginning to recover from the impacts of first-hand housing market influences [2][3]. Market Performance - The construction materials index experienced a decline of 4.11%, with various sub-sectors such as glass manufacturing and fiberglass showing significant drops [17]. - The report notes that the national average price for cement is 347 RMB/t, down 62 RMB/t year-on-year and 2 RMB/t month-on-month, with an average shipment rate of 45.2% [14][25]. - The average price for float glass is reported at 1300.97 RMB/ton, reflecting a slight increase of 11.16 RMB/ton, with inventory levels rising [14][33]. Price Changes - Cement prices have shown a downward trend, particularly in northern regions due to seasonal weather impacts, while southern regions are facing tight market conditions [25][26]. - The float glass market is experiencing increased inventory levels, leading to price adjustments, with manufacturers facing pressure to manage stock effectively [33][47]. - Fiberglass prices remain stable, with the average price for 2400tex non-alkali yarn at 3524.75 RMB/ton, unchanged from the previous week [53][54].