pokergamesnearme| Special topic for Building Materials Week: Focus on bottom-floor opportunities for consumer building materials under the warming of policies

Pay attention to the policy heating up the opportunity at the bottom of consumer building materials, the recent marginal improvement of real estate policy. After intensive adjustment and optimization of real estate policy since late July last yearPokergamesnearmeThere has been no new policy statement on the demand side of real estate for a long time, but the policy has been active again since the end of April this year: 1) on April 30, the Politburo held a meeting to emphasize the overall study of policies and measures to digest the stock of real estate and optimize incremental housing.Pokergamesnearme2) on May 6, the purchase restriction policy was optimized in 7 peripheral districts of Shenzhen; 3) on May 9, the purchase restrictions on new houses in four core areas of Hangzhou were liberalized, which is equivalent to the complete abolition of purchase restrictions in the whole city. In the context of the top-down overall digestion of real estate inventory and the liberalization of purchase restrictions in core cities / regions, the real estate industry is expected to build a bottom. From the recommendation, consumer building materials plate first, priority performance has seen the bottom of the C-end leader, such as Beixin building materials 1 quarterly sales / income exceeded expectations, bunny and Weixing new materials profitability exceeded expectations, is the embodiment of channel power and brand power. B-end leader preferred three trees, mainly the long-term growth of the industry, low risk receivable and flexible performance, phased games can participate in Jianlang hardware, Oriental Yuhong, Keshun shares, China United Plastics, etc., among which Jianlang hardware has no receivable drag. Oriental Yuhong, Keshun shares and China United Plastics have lower valuations. Fundamentals: real estate high-frequency transactions are weak, glass fiber prices have greatly increased real estate high-frequency transactions: this week 30 large and medium-sized city commercial housing one-week rolling transaction area compared with the same period last week-54% (last week-19%), 12 cities second-hand housing one-week rolling transaction area-21% (last week 29%), last week is relatively high due to the influence of May Day holiday dislocation factors. Cement: after the May Day holiday, the weather conditions have improved, and cement demand continues to recover slightly. The shipment rate of cement enterprises in key areas of the country is about 54%, an increase of about 2 percentage points compared with the previous month. In terms of price, the month-on-month decline is about 0%.Pokergamesnearme.5%, due to poor implementation of off-peak production in the middle and lower reaches of the Yangtze River, prices basically fell back to the origin, while in the north increased peak-off production efforts, enterprises actively pushed up prices. Glass: the market price of float glass is down 0% month on month this week.Pokergamesnearme.7%, the demand in the lower reaches has recovered slightly recently, there has been replenishment in the middle and lower reaches after the festival, and the expectations of cold repair and shutdown of some production lines have been superimposed. The mentality of the operators is relatively calm, but there is pressure on some stocks in the float plant, and the overall price adjustment tends to be cautious. Production capacity dropped slightly this week, with a total of 312 float glass production lines in the country, with a total daily melting capacity of 174265 tons, and one cold repair line within the week, 700 tons less than last week. This week, the total inventory of production enterprises in the provinces was 55.08 million weight boxes, an increase of 1.16 million weight boxes over last week, an increase of 2.15%. The inventory days were about 26.15 days, an increase of 0.58 days over last week. This week, we will focus on monitoring the province's output of 17.3713 million weight boxes and consumption of 16.2113 million weight boxes, with a production and marketing rate of 93.32%. Fiberglass: the inventory of the industry has dropped sharply, and the price of the fiberglass industry has risen sharply again after the May Festival. According to Zhuochuang information, by the end of April, the absolute inventory value of glass fiber manufacturers was about 600000 tons, down 24% from the previous month, the corresponding inventory days were about 30 days, and the inventory days in two months decreased for nearly 15 days in a row. After the festival, the quotation of roving manufacturers continues to be raised, and the mainstream quotation of domestic 2400tex alkali-free winding direct yarn ranges from 3700 to 3900 yuan / ton, up about 5% from the previous month, and some joint-stock yarn prices have increased significantly. Post-holiday electronic yarn market prices also rose significantly, electronic yarn G75 mainstream quotations range from 8600 to 8900 yuan / ton, rising by about 10% compared with the previous month. The current mainstream quotation for electronic cloth ranges from 3.63.8yuan / m to 3.63.8yuan / m. From the demand side, the downstream CCL factory has more orders on hand, and the enthusiasm of picking up goods in the middle and lower reaches is OK. Investment viewpoint: pay attention to the inflection point of fiberglass, pay attention to the expected restoration of real estate, and be optimistic about the subdivision of the prosperous racetrack 1) pay attention to the inflection point of fiberglass. The inventory inflection point of the glass fiber industry has appeared, and the supply and demand of glass fiber is expected to be reversed in 2024. Pay attention to the elasticity of electronic cloth and emerging demand (such as photovoltaic frame), and recommend China Stonehenge, Sinopec Technology, Changhai shares and so on. 2) pay attention to the expected restoration of real estate. The real estate data in the first quarter is weak, the year-on-year growth rate is the lowest in the whole year, the current real estate chain policy is expected to heat up, digesting stocks, lifting purchase restrictions and other measures continue to be introduced, the freezing point is expected to improve. Pay attention to the high-quality B-end leading three trees, Oriental Yuhong, Jianlang hardware, etc.; C-end building materials continue to recommend, the target Beixin building materials, Weixing new materials, bunnies and so on. 3) be optimistic about the subdivision of the prosperous race track. Recommend the pharmaceutical glass with increased borosilicate permeability, the Mecca core color rebounded from the beneficiary container and the target Koda manufacturing, Huaxin cement, etc. Risk tips 1, real estate demand repair is lower than expected; 2, raw material prices have risen sharply. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

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