本期投资提示:地产链下行已经五年时间,当下更应当关注积极信号。自2021 年开始,房地产相关的各项数据经历了持续5 年的下滑。五年间建材行业面临的压力诸如需求下行、信用风险扩散、成本扰动、竞争加剧等已无需更多阐述。我们认为当下更应当从长期视角回顾,关注整个板块5 年来的积极变化。5 年时间足够让行业完成一轮产能出清。我们测算2021-2024 年防水材料总产量累积下降38%;与之对比,2021-...
Source Link本期投资提示:地产链下行已经五年时间,当下更应当关注积极信号。自2021 年开始,房地产相关的各项数据经历了持续5 年的下滑。五年间建材行业面临的压力诸如需求下行、信用风险扩散、成本扰动、竞争加剧等已无需更多阐述。我们认为当下更应当从长期视角回顾,关注整个板块5 年来的积极变化。5 年时间足够让行业完成一轮产能出清。我们测算2021-2024 年防水材料总产量累积下降38%;与之对比,2021-...
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