建筑材料行业2026年度投资策略报告:“反内卷”破局传统赛道,高端化打开成长空间

华龙证券
Dec 25, 2025

(以下内容从华龙证券《建筑材料行业2026年度投资策略报告:“反内卷”破局传统赛道,高端化打开成长空间》研报附件原文摘录)回顾:(1)基本面:2025年前三季度,主要建材产品需求小幅改善,同时“反内卷”政策带动供给侧向好,各细分子行业2025年前三季度盈利能力改善。(2)市场表现:2025年1月2日-12月23日,申万建材指数上涨20.8%,在申万全行业中排行第11,同期沪深300指数上涨...

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