Cement industry: Real Estate warming signals show industry assembly number

Real estate investment picks up the cement industry. Our views on the industry: the policy of lower capital ratios for housing and infrastructure projects and the recent behavior of some of the developers to take the land, from policy support and solid corporate behavior in two aspects to consolidate market confidence in real estate investment recovery. For the cement industry, demand growth is expected to be clear, industry boom point in advance.　　Based on the high performance sensitivity of the reasons recommended conch Cement, Jidong cement, huaxin cement; At the same time, the industry valuation upgrade and the performance of the report exceed the expected value of the Northwest cement plate price catalyst. Real estate investment at the bottom of the recovery route to follow the "sales-acquisition-New start" Logic Main line of commercial housing vacancy area index reached a record high, developers have a strong internal power to digest inventory, low interest rates and easy credit for the real estate market sales continue to rebound to provide external environmental support. Sales rebound, change industry expectations, developers to speed up land acquisition progress, new construction area increase, the long-term investment growth of the building is expected to hit bottom sustained rebound to maintain a stable growth situation.　　The real estate industry Valley Recovery route will follow the "sales-acquisition of land-New start" logic line. Demand growth is clear, the cement industry profitability will increase the chain, increasing the supply and demand of cement cement products is relatively rigid, so when the downstream demand is blocked, the expected industry downturn, the real economy in the incumbent enterprises through the volume to squeeze more market share, and when the downstream demand is clear, expected to increase the business boom, In-situ enterprises exist to maximize profits by raising prices.　　The current real estate investment recovery, cement demand growth is clear, product prices and industry profitability will advance to the 2nd quarter of 09, the recent stability of domestic coal prices for the price of cement products and enhance the profitability of the industry to provide power. Highlight the performance of highly sensitive conch Cement, Huaxin cement based on real estate investment recovery and optimize the performance sensitivity of high standards, we recommend Conch Cement, huaxin cement; second, the horse racing industry, Tianshan shares, pine Construction, such as Northwest Cement 09 years of clear growth, the first half of the performance exceeding the expected probability of high, The industry valuation promotion and the interim report performance exceed anticipate is the Northwest cement stock price catalyst. What investors need to choose is the timing of buying and the rotation of locations.