3、中国有色金属工业协会硅业分会报道，目前硅片价格几乎低于所有在产硅片企业现金成本，企业挺 价意愿较强；低价行情下，硅片厂减产力度明显增强。 4、工信部召开第十五次制造业企业座谈会强调，依法依规、综合治理光伏行业低价无序竞争，引导企 业提升产品品质，推动落后产能有序退出。 5、美越贸易协定将对转运货物征收40%关税，外交部对此表示，中方一贯主张各方通过平等对话，协 商解决经贸分歧，同时有关谈判和协议不应针对或损害第三方的利益。 6、3天2板未名医药：公司存在触发其他风险警示的情形。财富趋势：实际控制人兼董事长拟减持不超 过3%公司股份。2连板亚玛顿："光伏玻璃行业部分企业阶段性下调产能"的采访中 未涉及公司自身的生 产安排或业绩预测。3天2板华银电力：预计半年度归母净利润1.8亿-2.2亿元（未经审计）。2连板巨力 索具：公司不存在违反信息公平披露的情形。6连板诚邦股份：控股股东方利强与一致行动人质押比例 较高。万科A：向深铁集团申请不超过62.49亿元借款并展期部分已有借款。8天6板大东南：公司产品 CPP铝塑膜适用于固态锂电池的封装 但目前并未生产该产品。 智通财经7月3日晚间新闻精选 1、国家药监局发布 ...

Investment Rating - The report maintains a "Recommendation" rating for the building materials industry [2] Core Views - The real estate policy continues to stabilize, which is expected to support the recovery of leading companies in the consumption building materials sector [14][15] - The cement market is experiencing continued low demand and overall price decline, with a national average shipment rate of 43.4% [11][21] - The float glass market is facing price declines and weak supply-demand support, with a current average price of 1174 RMB/ton [12][21] - The fiberglass market shows stable pricing for alkali-free roving, while electronic yarn prices remain steady [13] Summary by Sections Industry Dynamics - The cement market saw a price drop of 1.1% this week, with significant declines in various regions, while some areas like Jilin and Henan experienced slight price increases [11][21] - The float glass market's average price decreased by 7.14 RMB/ton, with a total production of 1.0909 million tons this week, reflecting a year-on-year decline of 8.2% [12][21] - The fiberglass market remains stable, with prices for alkali-free roving around 3500-3600 RMB/ton, while electronic yarn prices are expected to remain stable due to tight supply [13] Consumption Building Materials - The real estate policy is expected to drive demand for high-quality building materials, with the "Good House" national standard promoting industry transformation [14][15] - The report highlights the potential for recovery in the consumption building materials sector, particularly for leading companies [15] Recommended Stocks - Key recommended stocks include Weixing New Materials, Keda Manufacturing, Mona Lisa, Beixin Building Materials, Keshun Co., Dongpeng Holdings, with a focus on companies like China National Materials and Tianan New Materials [16][18]

Group 1 - The company, Zhongshan Gucheng Yongming Glass Products Processing Plant, was fined 310,000 yuan for starting construction without legally approved environmental impact assessment reports [1][2] - The plant began operations on January 20, 2025, with a total investment of 10,280 yuan, producing glass products using various equipment including a tempering furnace and glass cutting machines [1] - The production process involved multiple steps including cutting, cleaning, grinding, screen printing, drying, and tempering, but the necessary environmental protection facilities were not completed or inspected before production began [1][2] Group 2 - The illegal activities were discovered on March 14, 2025, leading to a directive for the company to cease production, which was complied with by March 31, 2025 [2] - Despite stopping production, the company failed to complete the environmental impact report approval and the necessary permits by the deadline [2]

智通财经7月3日电，亚玛顿(002623.SZ)公告称，公司股票连续两个交易日收盘价格涨幅偏离值累计超 过20%，属于股票交易异常波动情况。公司于近日在接受媒体记者关于"光伏玻璃行业部分企业阶段性 下调产能"的采访中对行业动态以及公司海外投资战略进行了客观说明，未涉及公司自身的生产安排或 业绩预测，更未涉及公司应披露而未披露的重大事项。 2连板亚玛顿：就"光伏玻璃行业部分企业阶段性下调产能"的采访中 未涉及公司自身的生产安排或业绩 预测 ...

Core Viewpoint - The photovoltaic glass sector is experiencing a significant rally, with major companies planning to collectively reduce production by 30% starting in July to alleviate intense competition and improve supply-demand balance [1][2][3] Group 1: Market Performance - The photovoltaic glass index rose by 6.46%, with several stocks, including Dongfang Risen and Kaisheng New Energy, hitting the daily limit [1] - Anticipated production cuts are expected to decrease domestic glass output to around 45GW in July [1] Group 2: Production Cuts - The actual reduction actions began in mid-June, with uncertainty about whether the 30% target will be met [1][2] - Some companies, like Fulete and Tuojin New Energy, have not confirmed participation in the production cuts, indicating a lack of consensus among firms [2][3] Group 3: Inventory and Pricing - Current inventory levels have increased, with typical glass inventory days rising from just over 20 days to around 34 days [2][3] - Photovoltaic glass prices have dropped significantly, with 2.0mm glass averaging 11 CNY/sqm, below the cost line, and a year-on-year decline of 24% [4][6] Group 4: Financial Impact - Major companies are facing substantial profit declines, with Fulete's net profit down 63.52% and other firms like Nanfang A and Jinjing Technology experiencing declines of over 80% [6] - The ongoing price drop has led to losses for several companies, with expectations for recovery contingent on improved component demand and pricing stability [6][7] Group 5: Future Outlook - The recovery of glass prices is dependent on two main factors: the price of soda ash and the stability of component demand, with projections suggesting potential recovery by late August or September [7] - The domestic photovoltaic glass industry holds 90% of global capacity, facing challenges from export policies and a shift towards Southeast Asian markets for future growth [8]

Group 1 - The Low-E glass concept increased by 2.38%, ranking 8th among concept sectors, with seven stocks rising, including Yamaton and Yaopi Glass hitting the daily limit [1] - Notable gainers in the Low-E glass sector include Wanshun New Materials, which rose by 7.18%, and Xinsai Co., which increased by 1.37% [1] - The sector experienced a net outflow of 0.25 billion yuan in main funds, with Wanshun New Materials receiving the highest net inflow of 46.49 million yuan [2][3] Group 2 - The main fund inflow ratios for leading stocks in the Low-E glass sector are as follows: Yamaton at 52.06%, Hainan Development at 10.65%, and Wanshun New Materials at 6.50% [3] - The trading performance of key stocks includes: Wanshun New Materials up by 7.18% with a turnover rate of 16.63%, Yamaton up by 10.02% with a turnover rate of 1.29%, and Hainan Development up by 0.21% with a turnover rate of 2.82% [3][4] - Decliners in the sector include Nanbo A, which fell by 0.83%, and Sanxia New Materials, which decreased by 0.30% [1][4]

将一粒沙变成一根纤维，再将这些纤维精密地编织在一起，做出空气过滤纸，通过2000倍的显微镜，可以看到一场微观世界的结构革命。 这些被称为玻璃纤维的新材料，超细又柔软，但却蕴含着巨大的能量。因为同时具备隔热隔音、水火不侵的功能，在科研人员的眼里，它们就 是中国现代工业领域的"混天绫"。 央视网消息：数据显示，2025年前5个月，重庆民营企业实现进出口1442.3亿元，占重庆外贸进出口总值的49.2%，撑起了重庆外贸经济的半壁 江山。其中，有一家民营企业正以其独特的创新活力与市场敏锐度，在新材料、新应用等工业化细分领域不断实现技术突破。 再升科技纤维研究院院长李志勇介绍，在飞机材料上有很多特殊的要求，比如要阻燃、防水、防潮，当然隔音和隔热是最基础的性能。这个火 焰温度能达到1200摄氏度，它会红但是不会烧成一个洞或者烧破。 攻克了核心技术，成为全球仅有的3家能够生产"飞机棉"的企业之一，也让中国成为继美国、日本之后，第三个掌握航空级超细纤维棉量产技 术的国家。 2021年，企业生产的第一批"飞机棉"正式交付并配套到首架C919上。从此，小纤维开始了大循环，美国企业也来下订单。 洁净空气 "飞机棉"的产业链再延伸 ...

Core Viewpoint - The recent surge in solar glass stocks, particularly for Yamaton, is attributed to the "anti-involution" trend and government policies aimed at addressing overcapacity in the photovoltaic industry [1][6][7]. Company Summary - Yamaton has seen a significant rebound in its stock price, rising over 51% since hitting a low of 11.55 CNY per share on April 9, after previously experiencing a decline of over 68% from its peak of 48.05 CNY per share in August 2022 [2][10]. - The company confirmed the news regarding the collective production cut of 30% by major solar glass manufacturers starting in July, which is expected to promote sustainable development in the industry [7]. - Yamaton is investing 240 million USD to build a solar glass production line in the UAE with an annual capacity of 500,000 tons, aiming to reduce production costs and expand its market share [8][9]. Industry Summary - The photovoltaic industry is currently facing severe price competition, leading to a decline in product prices and prompting companies to explore overseas markets [7][9]. - Recent government initiatives, including the commentary from the People's Daily and the Central Financial Committee's meeting, emphasize the need for regulatory measures to curb low-price competition and promote quality improvements in the industry [6][7]. - The demand for solar glass is expected to increase due to favorable policies in international markets, particularly after the U.S. Senate passed legislation that benefits solar projects [8].

热点报告——商品期货 财经委会议强调"反内卷" "反内卷"政策的总体思路包括两方面，一是加强行业自律管 理，包括限制低价竞争、自律限产等；二是推进产业升级、落 后产能去化。但本轮"反内卷"政策和 2015 年供给侧革的环境 有很多不同：多数行业产能升级后，产能去化难度更大；除了 上游外，中下游产能过剩情况也较为突出；地产等终端需求尚 未出现企稳回升迹象，对商品价格持续提振的驱动有所不足。 ★"反内卷"对国债和重点商品的影响： 商 国债：基准假设之下，反内卷政策对于国债的影响相对有限。 但需要警惕需求侧政策配合发力，带来国债期货下跌的风险。 期 货 多晶硅、工业硅：6 月底在发改委限价要求下，多晶硅企业报价 远高于下游可接受价格，供应端仍以复产为主。真正意义上涨 取决于减产落实和下游价格传导。工业硅传言大厂减产，但与 政策并未有直接关系，若期价上涨，企业复产套保概率较大。 玻璃、纯碱：光伏玻璃 7 月减产较多，但浮法玻璃尚未明确响 应"反内卷"，且高窑龄产线集中冷修不明显。在政策预期和 高基差下，玻璃期价存在一定支撑。但光伏玻璃减产利空纯碱 需求，建议多玻璃空纯碱套利操作。 钢铁：由于价格持续下行，行业品种结构 ...

投资咨询业务资格：证监许可【2012】669号 中信期货研究|⿊⾊建材策略⽇报 2025-07-03 供给扰动升温，⿊⾊⼤幅反弹 继唐⼭减排要求趋严后，"反内卷"进⼀步强化供给减量预期，乐观 情绪主导市场，现货和期货共振上⾏。与此同时，炉料也表现强势， 形成正反馈驱动。此前⿊⾊基本⾯处于相对均衡状态，各环节⽭盾均 不明显，铁⽔维持⾼位，钢材保持低库存，因此反弹较为顺畅。此次 利好预计能刺激贸易商等中游环节补库，提升现货流动性。后续则需 要关注政策具体落实情况以及淡季终端需求，预计整体维持偏强状态 但涨势放缓。 ⿊⾊：供给扰动升温，⿊⾊⼤幅反弹 继唐山减排要求趋严后，"反内卷"进一步强化供给减量预期，乐观 情绪主导市场，现货和期货共振上行。与此同时，炉料也表现强势， 形成正反馈驱动。此前黑色基本面处于相对均衡状态，各环节矛盾均 不明显，铁水维持高位，钢材保持低库存，因此反弹较为顺畅。此次 利好预计能刺激贸易商等中游环节补库，提升现货流动性。后续则需 要关注政策具体落实情况以及淡季终端需求，预计整体维持偏强状态 但涨势放缓。 1、铁元素方面，小样本钢企铁水微降，短期无大幅下行驱动。到港 环比下降叠加需求高位，港口 ...