研報掘金|中金:可留意水泥行業投資機會 關注海螺水泥、華新水泥和華潤建材等
中金髮表研究報吿指,國務院總理李強在新一份政府工作報吿中提出,今年赤字佔GDP比率將提高至4%,預料將發行總計1.3萬億元的超長期特別國債和4.4萬億元的地方政府專項債券,預計隨着氣温回升、資金到位及季節性因素改善,基礎設施建設實際開工量將增加,帶動水泥、鋼筋等需求跌幅收窄。該行指,去年玻璃纖維和水泥的價格競爭激烈,去年下半年起供應端狀況改善,令價格有所回升,至今年首季以來價格一直保持相對穩定,由於基數較低,預計企業盈利將穩健增長。其中水泥價格每年旺季期間各地都會宣佈升價,若旺季需求恢復正常,預計水泥價格將繼續上升。中金看好具有潛在上升空間、盈利回升、估值低且2025年第一季度盈利預測強勁的板塊和股票,建議投資者留意水泥行業的投資機會,關注海螺水泥、華新水泥、上峯水泥、華潤建材及冀東水泥,預期趁低買入將可在旺季時受惠於業績改善的潛在上行。
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