Core Viewpoint - The Central Economic Work Conference emphasized the importance of addressing "involution" competition and identified key sectors such as photovoltaic, lithium battery, and coal industries that have shown significant improvement, suggesting investment opportunities based on policy support and market dynamics [1][2]. Group 1: Industry Performance - Since July, all "anti-involution" themed industries have achieved positive returns, with lithium batteries and photovoltaics performing the best due to favorable policies and improved demand, particularly in domestic and international energy storage [1]. - The steel industry, while initially strong due to policy support, has seen a decline in performance as real estate investment and demand have decreased, leading to a significant drop in the past month [1]. - Sectors like express delivery and live pig farming have shown weaker performance, with limited gains since July and negative fluctuations recently [1]. Group 2: Price Trends - Industrial product prices have not uniformly increased since July; instead, there has been a divergence, with photovoltaic materials, lithium carbonate, and thermal coal showing relative strength, while prices for pork and cement have fallen below July levels due to weak demand [2]. Group 3: Future Investment Opportunities - The "anti-involution" theme is expected to be a long-term market focus, with investment opportunities identified based on three key factors: 1. Current policy support levels, with photovoltaic and coal industries receiving the most robust backing [2]. 2. Market structure, where industries with lower private capacity and higher concentration are better positioned for supply-side control [3]. 3. Demand side dynamics, particularly in the lithium battery sector benefiting from rising energy storage needs and seasonal demand increases for coal during winter [3]. Group 4: Market Outlook - The "anti-involution" trend is anticipated to remain a central market theme, with optimistic expectations for sectors like lithium batteries, coal, and photovoltaics, which are supported by both policy and demand [3].

伟星新材公告称，近日控股股东伟星集团持有的部分股份解除质押并再质押。2025年12月11日，解除质 押6000万股（占其所持股份9.94%）和5000万股（占8.29%），同日再质押1.1亿股（占18.23%），质权 人为农行临海市支行，质押用途为经营。截至公告披露日，伟星集团及其一致行动人累计质押2.48亿 股，占其所持股份34.59%，占公司总股本15.58%。 ...

格隆汇12月12日丨宁夏建材(600449.SH)在投资者互动平台表示，截止目前公司无应披露而未披露的信 息。 ...

Group 1 - The core focus of the news is on the industrial pollution control efforts in Linyi City during the 14th Five-Year Plan period, highlighting the achievement of near-zero sulfur dioxide emissions from 51 operating shale brick enterprises [1] - Linyi City has implemented comprehensive ultra-low emission transformations in key high-pollution industries such as steel, coking, and cement, with 2 long-process steel companies and 10 cement companies completing provincial-level ultra-low emission transformation [1] - The city has strengthened process control and end-of-pipe treatment in the building materials industry, dismantling 268 illegal biomass boilers and shutting down 350 illegal small glue factories to enhance overall pollution control levels [1] Group 2 - Continuous efforts are being made to prevent summer ozone pollution by focusing on industries that emit volatile organic compounds (VOCs), with a strategy of "one enterprise, one policy" for regular inspections and improvements [2] - The establishment of a smart control system for VOC emissions in 600 key enterprises and the promotion of online monitoring for large gas stations are part of the ongoing technological support to reduce ozone generation potential [2] - A total of 6.07 billion yuan has been secured in central and provincial funding for air pollution control projects, supporting 72 industrial furnace renovations and VOC management initiatives, significantly enhancing the environmental performance of enterprises [3]

天眼查App显示，近日，寻甸羊街胜银建材厂（个体工商户）成立，法定代表人为代永江，注册资本30 万人民币，经营范围为一般项目：建筑材料销售；建筑装饰材料销售；建筑装饰、水暖管道零件及其他 建筑用金属制品制造；建筑用金属配件制造；建筑用木料及木材组件加工；建筑防水卷材产品制造；轻 质建筑材料销售；承接总公司工程建设业务；建筑用金属配件销售；建筑用钢筋产品销售；砖瓦销售； 建筑物清洁服务；建筑用石加工；建筑防水卷材产品销售；建筑砌块销售；建筑砌块制造；石灰和石膏 销售；砖瓦制造。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Core Insights - A new individual business named Huasheng Building Materials Operating Department has been established in Agang Town, Luoping County, with a registered capital of 100,000 RMB [1] Company Overview - The legal representative of the business is Zhang Lixian [1] - The business scope includes general projects such as sales of building materials, cement products, asbestos cement products, and sales of construction steel products [1] - Additional services offered include engineering management, wholesale of hardware products, rental of construction machinery and equipment, retail of hardware products, sales of waterproofing materials, sales of building decoration materials, and sales of doors and windows [1]

天眼查App显示，近日，宜宾君乾建材有限公司成立，法定代表人为李进财，注册资本50万人民币，经 营范围为一般项目：建筑材料销售；五金产品零售；五金产品批发；建筑装饰、水暖管道零件及其他建 筑用金属制品制造；建筑装饰材料销售；轻质建筑材料销售；金属结构销售；办公用品销售；日用品批 发；日用品销售；电力设施器材销售；广告设计、代理；广告制作；广告发布；社会经济咨询服务；信 息技术咨询服务；信息咨询服务（不含许可类信息咨询服务）；工程管理服务；体育场地设施工程施 工；金属门窗工程施工；土石方工程施工；园林绿化工程施工；机械电气设备销售；机械设备销售；机 械设备租赁；建筑工程用机械销售；建筑工程机械与设备租赁；房地产经纪；电线、电缆经营；陆地管 道运输；国内货物运输代理；管道运输设备销售；运输货物打包服务；装卸搬运；市政设施管理。（除 依法须经批准的项目外，凭营业执照依法自主开展经营活动）许可项目：水路普通货物运输；建设工程 施工；施工专业作业；舞台工程施工；建设工程设计；文物保护工程施工；道路货物运输（不含危险货 物）。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批准文 件或许可证 ...

Core Viewpoint - The Central Economic Work Conference emphasizes the "dual carbon" goals as a guiding principle for economic work in the coming year, focusing on comprehensive green transformation and the establishment of a new energy system to ensure energy security and transition [1][3]. Group 1: Green Transformation and Energy Strategy - The conference highlights the importance of advancing energy-saving and carbon reduction transformations in key industries, with a focus on creating a strong energy nation through top-level planning [5][10]. - The "14th Five-Year Plan" is identified as a critical period for rapid green and low-carbon transformation, while the "15th Five-Year Plan" will be crucial for achieving carbon peak and green transformation [3][6]. - Energy activities account for over 80% of total carbon emissions, making it a primary battleground for achieving carbon peak goals and building a beautiful China [4]. Group 2: Renewable Energy Development - The conference calls for the expansion of green electricity applications, with renewable energy generation capacity increasing from 40% to approximately 60% [8]. - The current renewable energy landscape includes significant annual additions of wind and solar power, with green electricity now constituting one-third of total electricity consumption [8]. - Key areas for expanding green electricity applications include export-oriented enterprises, large corporations enhancing brand image, and local government mandates for high-energy-consuming sectors [8]. Group 3: Key Industry Transformation - The focus on energy-saving and carbon reduction transformations will target high-energy-consuming and high-emission industries such as steel, non-ferrous metals, building materials, petrochemicals, and data centers [9]. - Successful transformation requires a combination of technology, management, and mechanisms, including the promotion of mature technologies and comprehensive carbon management practices [9]. - The government will support these transformations through subsidies, tax incentives, and green finance to ensure that early adopters benefit [9]. Group 4: Carbon Market Development - Strengthening the national carbon emissions trading market is a key focus, with plans to expand its coverage from the power sector to include steel, cement, and aluminum industries by 2027 [11][12]. - The carbon market is seen as a core policy tool for achieving the "dual carbon" goals, with an emphasis on expanding and deepening its operational mechanisms [12]. - Future developments in the carbon market will include setting scientific quotas, ensuring data authenticity, and exploring financial innovations to mobilize funds towards green and low-carbon sectors [12].

天眼查App显示，近日，江西隆通建材有限公司成立，法定代表人为胡志强，注册资本50万人民币，经 营范围为一般项目：新材料技术研发，新材料技术推广服务，建筑材料销售，五金产品零售，电子元器 件与机电组件设备销售，电子测量仪器销售，塑料制品销售，工程塑料及合成树脂销售，金属链条及其 他金属制品销售，劳动保护用品销售，日用百货销售，家用电器销售，玻璃纤维增强塑料制品销售，电 力电子元器件销售，办公用品销售（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

天眼查App显示，近日，厦门遂东同淼建材有限公司成立，法定代表人为刘光键，注册资本10万人民 币，经营范围为一般项目：建筑材料销售；工程管理服务；管道运输设备销售；土石方工程施工；建筑 工程机械与设备租赁；房屋拆迁服务；建筑砌块制造；建筑砌块销售；建筑装饰材料销售；轻质建筑材 料制造；轻质建筑材料销售；建筑用金属配件销售；建筑陶瓷制品销售；建筑物清洁服务；建筑工程用 机械销售；建筑用钢筋产品销售；新型建筑材料制造（不含危险化学品）；密封用填料销售；城乡市容 管理；园林绿化工程施工；住房租赁；日用品销售；保温材料销售；五金产品零售；装卸搬运和运输代 理业（不包括航空客货运代理服务）；砖瓦销售。（除依法须经批准的项目外，凭营业执照依法自主开 展经营活动）。 ...