Galaxy Securities: Building materials industry will make further breakthroughs in four directions during the "15th Five-Year Plan" period.

On September 17th, Galaxy Securities research report stated that with the advancement of comprehensive deepening of reforms and acceleration of the transformation of old and new driving forces during the "15th Five-Year Plan" period in China, the building materials industry will deepen industrial reform further, with high-quality development as the core goal, to promote breakthroughs in four directions: structural optimization, greening transformation, digital upgrade, and international layout. In the context of "anti-internal circulation", the cement industry is expected to accelerate capacity reduction, combined with the inclusion of cement in the carbon trading market, the supply-demand structure of the industry will gradually optimize, market concentration will shift towards leading enterprises, and the competitiveness of leading enterprises is expected to be further consolidated. With the rapid development of emerging industries such as electronics and new energy, the market demand for high-end fiberglass products in China will further increase, and fiberglass companies with technical research and development capabilities and scale production advantages will benefit from the growth in demand in emerging fields, with sufficient growth momentum. Leading consumer building materials enterprises break through by synergizing the "domestic + overseas" dual market, on one hand, enterprises actively promote "anti-internal circulation" in the domestic market, helping to reshape the healthy business order in the industry and drive the restoration of their own profitability levels; on the other hand, leading enterprises accelerate their overseas production capacity layout, and international business is expected to become an important source of incremental performance growth in the future.