数据来源：中国海关，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 相关报告：智研咨询发布的《2026-2032年中国水泥行业市场运行格局及发展策略分析报告》 根据中国海关数据显示：2025年10月中国水泥及水泥熟料出口数量为153万吨，同比增长245.7%，出口 金额为0.6亿美元，同比增长142.4%。 近一年中国水泥及水泥熟料出口情况统计图 ...

Core Viewpoint - China's import and export activities have shown strong growth despite international uncertainties, with a total trade value of 41.21 trillion yuan, reflecting a year-on-year increase of 3.6% in the first 11 months of the year [3][5]. Group 1: Trade Performance - In November, China's total trade reached 3.9 trillion yuan, with a year-on-year growth rate of 4.1%, marking ten consecutive months of growth and exceeding market expectations [3][5]. - Exports in November grew by 5.9% year-on-year, slightly surpassing expectations, while imports increased by 1.7% [5][6]. - For the first 11 months, exports and imports reached 24.46 trillion yuan and 16.75 trillion yuan, respectively, with year-on-year growth rates of 6.2% and 0.2% [5][6]. Group 2: Economic Outlook - The forecast for 2026 suggests that China's exports will maintain resilience, with an expected growth rate of around 5%, driven by increased openness and the Belt and Road Initiative [3][6]. - The Ministry of Commerce plans to enhance import efforts to better meet domestic demand and promote industrial transformation [4]. Group 3: Sectoral Insights - Machinery and electrical products remain the main export drivers, accounting for 60.9% of total exports, with an 8.8% increase year-on-year [5]. - The growth in exports is attributed to various factors, including base effects, holiday timing, and disruptions in freight schedules [5][6]. Group 4: Global Trade Relations - China's trade with over 110 countries and regions has seen simultaneous growth, with significant increases in trade with ASEAN, Africa, Latin America, and the EU [6][7]. - The establishment of free trade zones and zero-tariff policies for least developed countries has contributed to expanding China's trade partnerships [7][8]. Group 5: Emerging Markets - The industrialization of Southern countries presents significant opportunities for Chinese enterprises, with Africa projected to be the second-fastest growing region in terms of economic growth in 2024 [8]. - The global supply chain is evolving, with increased reliance on Chinese industries from regions like Africa, Latin America, and Southeast Asia [8].

Core Insights - The report by Zhiyan Consulting highlights the significant growth in China's cement and clinker exports, with a notable increase in both quantity and value in September 2025 compared to the previous year [1]. Group 1: Export Data - In September 2025, China's cement and clinker export volume reached 1 million tons, representing a year-on-year increase of 136.6% [1]. - The export value for the same period was $4.5 million, showing a year-on-year growth of 87.5% [1]. Group 2: Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1]. - The firm has over a decade of experience in the industry research field, offering tailored solutions to support investment decisions [1].

Core Viewpoint - Ningxia Building Materials, established in December 1998 and listed in August 2003, is the largest cement and concrete producer in Ningxia, with a complete industrial chain and advanced technology [1] Group 1: Business Overview - The main business includes manufacturing and selling cement, clinker, concrete, and aggregates, categorized under the building materials industry [1] - As of Q3 2025, the company reported revenue of 4.045 billion yuan, ranking 6th in the industry, below the top two competitors, Jinyu Group (69.489 billion yuan) and Conch Cement (61.298 billion yuan), but above the industry median of 3.463 billion yuan [1] - The revenue composition includes transportation services (1.268 billion yuan, 49.61%) and cement and clinker (1.086 billion yuan, 42.50%) [1] - The net profit for the same period was 231 million yuan, ranking 7th in the industry, lower than Conch Cement (6.407 billion yuan) and Huaxin Cement (2.505 billion yuan), but above the industry median of 133 million yuan [1] Group 2: Financial Performance - As of Q3 2025, the asset-liability ratio was 25.55%, down from 32.24% year-on-year, and below the industry average of 44.65% [2] - The gross profit margin for Q3 2025 was 12.41%, an increase from 6.56% year-on-year, but still below the industry average of 20.31% [2] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 2.04% to 29,300, with an average holding of 16,300 circulating A-shares, an increase of 2.09% [3] - The top circulating shareholders include Southern CSI 1000 ETF (512100) with 2.6257 million shares, down by 20,400 shares, and Hong Kong Central Clearing Limited with 2.2618 million shares, down by 162,400 shares [3]

Core Insights - The report by Zhiyan Consulting highlights significant growth in China's cement and clinker exports, with a notable increase in both volume and value in August 2025 compared to the previous year [1] Export Data Summary - In August 2025, China's cement and clinker exports reached 1.28 million tons, representing a year-on-year increase of 224.9% [1] - The export value for the same period was $0.53 million, which reflects a year-on-year growth of 132.9% [1] Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1] - The firm has a strong focus on delivering tailored industry solutions to empower investment decisions through professional insights and market analysis [1]

Core Insights - The report by Zhiyan Consulting highlights the significant growth in China's cement and clinker exports, with a notable increase in both quantity and value in April 2025 compared to the previous year [1] Group 1: Export Data - In April 2025, China's cement and clinker export volume reached 800,000 tons, representing a year-on-year increase of 59.2% [1] - The export value for the same period was $3.6 million, showing a year-on-year growth of 27.2% [1] Group 2: Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1] - The firm has over a decade of experience in the industry research field, focusing on delivering tailored solutions to support investment decisions [1]

Core Insights - The report by Zhiyan Consulting highlights the significant growth in China's cement and clinker exports, with a notable increase in both quantity and value in July 2025 compared to the previous year [1]. Group 1: Export Data - In July 2025, China's cement and clinker export volume reached 1.01 million tons, representing a year-on-year increase of 117.4% [1]. - The export value for the same period was $4.5 million, showing a year-on-year growth of 71.7% [1]. Group 2: Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1]. - The firm has been dedicated to the industry research field for over a decade, offering tailored solutions to empower investment decisions [1].

Core Insights - The report by Zhiyan Consulting highlights the significant growth in China's cement and clinker exports, with a notable increase in both quantity and value in June 2025 compared to the previous year [1] Export Data Summary - In June 2025, China's cement and clinker exports reached 980,000 tons, marking a year-on-year increase of 131% [1] - The export value for the same period was $4.3 million, reflecting a year-on-year growth of 74.2% [1] Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1] - The firm has a strong focus on delivering tailored industry solutions to empower investment decisions through professional insights and market analysis [1]

Group 1 - The core point of the article highlights the growth in China's cement and clinker exports, with a quantity of 900,000 tons in May 2025, representing a year-on-year increase of 29% [1] - The export value for the same period reached 4 million USD, showing an 8.9% year-on-year growth [1] - The data is sourced from China Customs, indicating a positive trend in the cement industry [3]