丨证券研究报告丨 行业研究丨行业周报丨建材 [Table_Title] 特种电子布需求蓝海，国内龙头积极扩张 ——建材周专题 2025W34 报告要点 [Table_Summary] 特种电子布需求蓝海，国内龙头积极扩张 基本面：水泥价格延续上涨，玻璃库存由升转降 推荐特种布和非洲链，存量龙头为全年主线 分析师及联系人 [Table_Author] 范超 张佩 李金宝 李浩 董超 SAC：S0490513080001 SAC：S0490518080002 SAC：S0490516040002 SAC：S0490520080026 SAC：S0490523030002 SFC：BQK473 SFC：BVZ972 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 [Table_Title 特种电子布需求蓝海，国内龙头积极扩张 2] ——建材周专题 2025W34 [Table_Summary2] 特种电子布需求蓝海，国内龙头积极扩张 中材科技发布新扩产公告，彰显决心。泰山玻纤拟在山东济宁投资 18.1 亿元建设年产 3500 万 米特种纤维布项目，拟在山东泰安投资 1 ...

Group 1 - The core viewpoint of the report highlights significant improvements in the cement and fiberglass sectors in Q2, with cement prices showing a downward trend but profitability increasing year-on-year, while fiberglass benefits from rising prices in thermoplastics and wind power yarns, leading to improved gross margins [1][3] - The construction materials sector saw a 2.71% increase in the Shanghai and Shenzhen 300 index, with the building materials sector (CITIC) rising by 0.53%, particularly driven by strong performance in the fiberglass segment [2] - The report recommends focusing on high-end electronic fabrics and traditional building materials with improving fundamentals, while also noting the impact of declining new construction in real estate on consumption building materials [3] Group 2 - The report indicates that the demand for traditional building materials remains generally weak, although there are signs of improvement in supply, with price increases announced for waterproof materials and gypsum boards in August [3] - A significant expansion announcement was made by China National Materials Group, planning to invest approximately 180.624 million yuan in a low-dielectric fiber fabric project and 175.089 million yuan in an ultra-low-loss low-dielectric fiber fabric project, adding a total of 5.9 million meters of production capacity [4] - The recommended stock portfolio includes companies such as Honghe Technology, China National Materials, Qingsong Chemical, Tibet Tianlu, Huaxin Cement, and Sankeshu, reflecting a focus on firms with potential for growth in the current market environment [5]