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<Research>CICC: Prices of Consumer Building Materials Expected to Recover Moderately; Glass Profits Subdued
Recommend 5 Positive 8 Negative 3 |
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Prices in the consumer building materials industry are expected to recover moderately, with marginal improvements in the gross margins of some leading sub-sectors, CICC said in a report. Recently, industry bellwethers have issued price increase notices in sub-sectors such as waterproofing, gypsum board, and municipal pipelines. The broker was bullish about the marginal recovery of profits for bellwethers amid the industry's price recovery trend. It drew attention to ORIENTAL YUHONG (002271.SZ), SKSHU (603737.SH), BEI NEW BUILDING MATERIALS (000786.SZ), CHINA LESSO (02128.HK), and WEIXING NEW MATERIALS (002372.SZ). In the fiberglass sector, CICC noted that AI has crowded out traditional electronic cloth supply, showing strong price elasticity since the beginning of the year. Due to the rapid growth in AI demand, some electronic cloth manufacturers have switched their capacity to low dielectric products. CJS (600176.SH) and SINOMA SCI & TECH (002080.SZ) were highlighted. In the glass sector, industry profits are subdued, awaiting accelerated cold repair processes. The continued pressure on profits may prompt companies to accelerate cold repairs. XINYI GLASS (00868.HK) and KIBING GROUP (601636.SH) were recommended. In the cement sector, off-season profits are weak, with "anti-involution" continuing to advance. At this juncture, the national gross profit per ton of cement is roughly the same as in 3Q25, at a historical low, with limited room for further decline. The broker recommended paying attention to CONCH CEMENT (00914.HK) and SHANGFENG CEMENT (000672.SZ). AASTOCKS Financial News Website: www.aastocks.com |
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