资源描述
|2024 04 22/2024/4/15-4/119 1 2024 1-3/+8.8%/+6.5%3+8.6%/+6.6%2 2024 1-3-9.5%3-16.8%1-3/-19.4%/-27.6%3-23.7%/-28.5%1-3/-28.4%/-11.1%/-20.7%3-25.6%/-19.1%/-22.1%3 92.07 3 2024 1-3 386.9+2.4%3 148.1+2.8%0.4%10-30/10-30/4 1737/12/20240418 5919.6-117.8-1.95%24.4-0.4 3 70 0.6%107 2.1 818.0 1.1 679.1 1.0%1m 6m 12m-5.0-15.9-26.2-4.0-16.2-12.1 1 2024-04-15 2 2024-04-08 3 2024-04-01 S1090517070008 S1090523070010-40-30-20-10010Apr/23 Aug/23 Dec/23 Mar/24(%)建材 沪深300 2.5 1.5 2.5 3.6.7 1.7 2.8 1.8 2.9 3.9 4.9 5.14 6.17 7.18.19 1.19 2.21.23 1 2023 2120.38 80.47%.23 2 2023 30.58 22.51%.23 3.23 4 23 5 2024Q1 5871.33 177.60%.23 6 2024 2500.24 7.24 8 358.84 1%.24 9 1.24 10 44.05 155.27%.24 XVDWxOqNnOqRoQnOsPsNnMaQdNaQtRpPoMrNlOpPsOjMtRsObRqRmRwMmPqRuOmRpO 3 11 1%.24 12 2023 2.96 63.77%.24 13 2023 27.60 30.00%.25 14 2024Q1 1226.58 50.98%.25 15 2024Q1 3369.06 73.37%25 16.25 17 504.27 29.66%25 18 2023 9157.26.25 19 2023-5.09.25 20 2023 7944.37 7.74%.26 21 2024.26 22 54.60%26 1 P.O42.5/.12 2/.12 3 P.O42.5/.13 4 P.O42.5/.13 5 P.O42.5/.13 6 P.O42.5/.13 7 P.O42.5/.13 8 P.O42.5/.13 9%.14 10/.15 11/.15 12/.16 13/.16 14.16 15/.17 16/.17 4 17/.18 18.18 19.18 20 PVC PPR HDPE/.18 21/.18 22/.19 23 LNG/.19 24/.19 25/.19 26.20 27.20 28.20 29 PE 2023.20 30 PE 2023.20 1.10 2.21 kBSNPPQ5v+GU20sdKbfBgciCYydMK33bsDsO0TSEcfa1FXaCF77twPzniblnXy7i 5 1 2024 1-3/+8.8%/+6.5%3+8.6%/+6.6%2 2024 1-3-9.5%3-16.8%1-3/-19.4%/-27.6%3-23.7%/-28.5%1-3/-28.4%/-11.1%/-20.7%3-25.6%/-19.1%/-22.1%3 92.07 3 2024 1-3 386.9+2.4%3 148.1+2.8%1 0.4%10-30/10-30/4 1737/12/20240418 5919.6-117.8-1.95%24.4-0.4 2 3 70 6 0.6 3+C+2024-2025 EPS 0.93 0.99+2023 1-6,15.1%C 2024 EPS 1.55+/2023-2024 EPS 0.12 0.35+2023-2024 EPS 0.58 0.71+2024-2025 EPS 2.58 2.95+7 2024-2025 EPS 1.72 2.12+&2024-2025 EPS 0.99 1.15 1+N+2024-2025 EPS 0.88 1.01 2024-2025 EPS 0.66 0.80 1 1 7000 3.9 2 2028 90%80%3 3 39020 3.1%34968 3.9%1 3 120327 4.7%109163 4.7%8 4 2024 73.6%0.7 2.3 2024 75.0%0.2 73.8%0.7 71.2%0.7 5 CPI CPI 1 CPI 0.8%2 CPI 0.7%3 CPI 0.1%CPI 0.7%2 1 1 2024 1-3 22082 9.5%16585 10.5%678501 11.1%474580 11.7%2 2024 1 3 678501 11.1%474580 11.7%17283 27.8%12534 28.7%15259 20.7%11148 21.9%3 2024 1 3 22668 19.4%23.4%21355 27.6%30.7%3 74833 15.6%23.9%4 2024 1 3 25689 26.0%4554 9.1%7 11.9%8681 14.6%7435 37.5%3643 41.0%5 3 92.07 6 16 3 70 7 3 0.1%0.2 0.5%0.7%0.4%0.3%0.4%8 3 0.7%0.1 9 0.4%0.3%1.0%1.0%0.5%0.1 2 1 2024 1 3 100042 4.5%1 2 0.3 9.9%0.5 6.5%0.2 3 0.14%2024 1 3 51597 0.5%2 2025 1.5 1000 3 1 2024 71.6%69.1%78.0%76.4%62.0%77.3%78.2%78.2%77.0%64.9%72.7%74.7%2 CEMPI 4 12 106.01 1.02%24.29%3 14.7%16.0%15.3%5.0%19.2%1.5%5.0%1.3%4 0.4%10-30/10-30/4 10 1 80%5-6 4 5-6 10-20/4 2 2-3 10-30/3-5 30/2-3 30%3-4 10%3-4 7-8 5 20/5-6 10-20/20/5 20-30/6-7 30/6-7 30/5-8 15/6-7 6-7 10/8 70%-80%3-5 11 4 10/4-5 5 3-4 5-6 20-30/4 20 5 10 20 5-6 5 7 5 20/4-6 5 20/5-6 5 30/10 60 4-6 5-6 30/6-7 60%-70%30/10/5 10-20/6 20/5-6 10-20/30/6-7 4-5 60%10-30/12 10-20/P.O42.5 210-220/3-4 10-20/4-5 4-5 2-3 70%10/4 5-7 4-5 3-5 40%6 10/4 10 2-3 P.O42.5 Q5500 715/5/271/1.50/100kg 1 P.O42.5/2/wind P.O42.5 200300400500600700第1周第3周第5周第7周第9周第11周第13周第15周第17周第19周第21周第23周第25周第27周第29周第31周第33周第35周第37周第39周第41周第43周第45周第47周第49周第51周2014年 2015年 2016年 2017年2018年 2019年 2020年 2021年2022年 2023年 2024年02004006008001,0001,2001,4001,6001502002503003504004505005502016/032016/062016/092016/122017/032017/062017/092017/122018/032018/062018/092018/122019/032019/062019/092019/122020/032020/062020/092020/122021/032021/062021/092021/122022/032022/062022/092022/122023/032023/062023/092023/122024/03水泥煤炭 价格差 动力煤价 格（右 轴）13 3 P.O42.5/4 P.O42.5/5 P.O42.5/6 P.O42.5/7 P.O42.5/8 P.O42.5/70.19%0.25%10 5 50%1502002503003504004505005506002009/2/62009/9/62010/4/62010/11/62011/6/62012/1/62012/8/62013/3/62013/10/62014/5/62014/12/62015/7/62016/2/62016/9/62017/4/62017/11/62018/6/62019/1/62019/8/62020/3/62020/10/62021/5/62021/12/62022/7/62023/2/62023/9/61502503504505506507502009/2/62009/9/62010/4/62010/11/62011/6/62012/1/62012/8/62013/3/62013/10/62014/5/62014/12/62015/7/62016/2/62016/9/62017/4/62017/11/62018/6/62019/1/62019/8/62020/3/62020/10/62021/5/62021/12/62022/7/62023/2/62023/9/61502503504505506507502009/2/62009/9/62010/4/62010/11/62011/6/62012/1/62012/8/62013/3/62013/10/62014/5/62014/12/62015/7/62016/2/62016/9/62017/4/62017/11/62018/6/62019/1/62019/8/62020/3/62020/10/62021/5/62021/12/62022/7/62023/2/62023/9/61502503504505506507502009/2/62009/9/62010/4/62010/11/62011/6/62012/1/62012/8/62013/3/62013/10/62014/5/62014/12/62015/7/62016/2/62016/9/62017/4/62017/11/62018/6/62019/1/62019/8/62020/3/62020/10/62021/5/62021/12/62022/7/62023/2/62023/9/61502002503003504004505005506006502009/2/62009/9/62010/4/62010/11/62011/6/62012/1/62012/8/62013/3/62013/10/62014/5/62014/12/62015/7/62016/2/62016/9/62017/4/62017/11/62018/6/62019/1/62019/8/62020/3/62020/10/62021/5/62021/12/62022/7/62023/2/62023/9/61502002503003504004505005506002009/2/62009/9/62010/4/62010/11/62011/6/62012/1/62012/8/62013/3/62013/10/62014/5/62014/12/62015/7/62016/2/62016/9/62017/4/62017/11/62018/6/62019/1/62019/8/62020/3/62020/10/62021/5/62021/12/62022/7/62023/2/62023/9/6 14 9%5 20240418 1733/11 1737/1725/12/40/01020304050607080902016/3/312016/6/302016/9/302016/12/312017/3/312017/6/302017/9/302017/12/312018/3/312018/6/302018/9/302018/12/312019/3/312019/6/302019/9/302019/12/312020/3/312020/6/302020/9/302020/12/312021/3/312021/6/302021/9/302021/12/312022/3/312022/6/302022/9/302022/12/312023/3/312023/6/302023/9/302023/12/312024/3/31 15 10/11/2021 2022 71.37 1.06%85.61%0.90%89.09 0.36 0.40%14 35%20.95 3.67+32.22 9.73 45%19.57 3.41+28.79 8.09 50%19.18 3.29+28.13 7.79 88+%73+17.44 10.62 2400/20240412-20240418 260/19/149/24/243/15/388/17/14001600180020002200240026002022/072022/082022/092022/102022/112022/122023/012023/022023/032023/042023/052023/062023/072023/082023/092023/102023/112023/122024/012024/022024/032024/04华北 华东 华中 华南东北 西南 西北 全国100015002000250030003500第1周第3周第5周第7周第9周第11周第13周第15周第17周第19周第21周第23周第25周第27周第29周第31周第33周第35周第37周第39周第41周第43周第45周第47周2015 2016 2017 20182019 2020 2021 20222023 2024 16 12/13/Wind 304(20.35/256 48 20240418 17.44 11 20240412-0418 122.05-0.27%+8.65%20240418 29130/11 20240412-20240418 20.39+1.64%20240418 84.21%11 85.68%11 20240412-0418 84.21%-0.19%85.68%-0.23%20240418 5919.6-117.8-1.95%24.4-0.4 97.8%58.2 73%14 050010001500200025003000350040002010/082011/082012/082013/082014/082015/082016/082017/082018/082019/082020/082021/082022/082023/08全国平均-1000-50005001000150020002015/012015/072016/012016/072017/012017/072018/012018/072019/012019/072020/012020/072021/012021/072022/012022/072023/012023/072024/01浮法玻璃：以煤 炭为燃 料的浮 法工艺：生产毛利浮法玻璃：以石 油焦为 燃料的 浮法工 艺：生产毛 利浮法玻璃：以天 然气为 燃料的 浮法工 艺：生产毛 利01000200030004000500060007000800090002009/062009/122010/062010/122011/062011/122012/062012/122013/062013/122014/062014/122015/062015/122016/062016/122017/062017/122018/062018/122019/062019/122020/062020/122021/062021/122022/062022/122023/062023/12 17 85.68%6 2024.4.12-2024.4.18 15/16/3,0004,0005,0006,0007,0008,0009,0001月 2月 3 月 4月 5月 6月 7 月 8 月 9 月 10月 11月 12月2014 2015 20162017 2018 20192020 2021 20223,0004,0005,0006,0007,0001 月 2月 3 月 4 月 5 月 6 月 7月 8月 9 月 10月 11月 12月2014 2015 20162017 2018 20192020 2021 2022 18 17/18 19 7 20 PVC PPR HDPE/21/Wind Wind 3,0005,0007,0009,00011,00013,00015,0001月 2月 3 月 4月 5月 6月 7月 8月 9月 10月 11月 12 月2014 2015 2016 20172018 2019 2020 20212022 2023 20240204060801002017/102018/012018/042018/072018/102019/012019/042019/072019/102020/012020/042020/072020/102021/012021/042021/072021/102022/012022/042022/072022/102023/012023/042023/072023/102024/01库存（万 吨）0204060801001 月 2 月 3 月 4 月 5 月 6 月 7 月 8 月 9 月 10 月 11 月 12 月2018 年 2019 年 2020 年2021 年 2022 年 2023 年050001000015000200002015/032015/062015/092015/122016/032016/062016/092016/122017/032017/062017/092017/122018/032018/062018/092018/122019/032019/062019/092019/122020/032020/062020/092020/122021/032021/062021/092021/122022/032022/062022/092022/122023/032023/062023/092023/122024/03PVC PPR HDPE05001000150020002500300035002024/3/312023/11/302023/7/312023/3/312022/11/302022/7/312022/3/312021/11/302021/7/312021/3/312020/11/302020/7/312020/3/312019/11/302019/7/312019/3/312018/11/302018/7/312018/3/312017/11/302017/7/312017/3/312016/11/302016/7/312016/2/292015/9/302015/3/31国废均价 19 22/23 LNG/Wind Wind 24/25/Wind Wind 1 1.52%0.39%0.44%9.88%1.17%0.37%0.30%-0.47%-1.96%-7.24%010002000300040005000600070002014/052014/102015/032015/082016/012016/062016/112017/042017/092018/022018/072018/122019/052019/102020/032020/082021/012021/062021/112022/042022/092023/022023/072023/12全国均价 重交沥青建筑沥青 改性沥青01000200030004000500060007000800090002014/042014/092015/022015/072015/122016/052016/102017/032017/082018/012018/062018/112019/042019/092020/022020/072020/122021/052021/102022/032022/082023/012023/062023/11LNG价格05000100001500020000250002018/012018/042018/072018/102019/012019/042019/072019/102020/012020/042020/072020/102021/012021/042021/072021/102022/012022/042022/072022/102023/012023/042023/072023/10系列105000100001500020000250003000035000400002018/072018/102019/012019/042019/072019/102020/012020/042020/072020/102021/012021/042021/072021/102022/012022/042022/072022/102023/012023/042023/072023/102024/01环氧树脂 价格走 势 20 26 iFinD 2021 27 28 Wind Wind 2021 11 A 6.81 11.43 16.49 18.91 23.41 31.34 42.33 77.08 84.74 29 PE 2023 30 PE 2023 Wind Wind 6%4%3%3%3%3%3%3%1%1%0%0%0%-1%-1%-1%-1%-2%-2%-2%-2%-3%-3%-3%-4%-4%-4%-4%-6%-6%-9%-10.0%-8.0%-6.0%-4.0%-2.0%0.0%2.0%4.0%6.0%8.0%家用电器银行煤炭非银金融建筑装饰石油石化国防军工钢铁交通运输食品饮料建筑材料汽车农林牧渔通信机械设备基础化工公用事业医药生物美容护理电力设备有色金属电子环保房地产计算机纺织服饰轻工制造传媒商贸零售社会服务综合-0.39%-0.38%0.56%1.52%0.44%-0.5%0.0%0.5%1.0%1.5%2.0%创业板指 中小板指 深证成指 上证综指 建材行业-7.24%-1.96%-0.47%0.30%0.37%1.17%9.88%-10.0%-8.0%-6.0%-4.0%-2.0%0.0%2.0%4.0%6.0%8.0%10.0%12.0%5671010121313141414151516161717 17 181818192223232428293133370510152025303540银行建筑装饰房地产煤炭石油石化非银金融交通运输建筑材料家用电器综合环保通信电力设备钢铁公用事业商贸零售纺织服饰轻工制造基础化工有色金属汽车传媒机械设备医药生物食品饮料美容护理农林牧渔社会服务电子计算机国防军工10.3711.2412.37 12.3913.8316.1617.4718.2619.0002468101214161820玻璃制造防水材料耐火材料水泥制造玻纤制造其他建材管材水泥制品涂料 21 2 27.70%21.69%14.87%12.21%6.33%-23.53%ST-22.37%-19.13%ST-18.39%-17.34%2 1 27.70%20.26%40.96%2 21.69%19.74%32.19%3 14.87%11.40%22.58%4 12.21%11.32%19.47%5 6.33%11.13%18.55%6 6.15%9.25%17.37%7 5.62%6.29%16.86%8 3.69%6.01%12.43%9 3.44%4.55%12.08%10 3.02%3.92%10.31%11 2.90%3.74%8.92%12 2.63%3.08%8.54%13 2.26%2.43%6.48%14 1.97%1.47%4.03%15 1.92%1.12%2.97%16 1.68%1.12%A 1.97%17 A 1.07%0.73%0.90%18 0.81%A 0.35%-0.19%19 0.29%-0.39%-1.05%20-0.52%-2.03%-5.21%21-0.53%-2.58%-5.77%22-0.60%-2.85%-5.82%23-1.13%-3.12%-6.88%24-1.35%-3.95%-7.64%25-1.46%-5.60%-8.00%26-1.54%-6.10%-8.12%27-1.69%-6.54%-8.47%28-1.94%-6.67%-8.64%29-2.53%-7.58%-9.43%30-2.64%-8.16%-9.79%31-3.02%-8.25%-11.26%32-3.27%-8.27%-11.68%33-3.47%-8.48%-13.45%34-3.88%-8.68%-13.56%35-4.32%-9.68%-13.72%36-4.36%-9.77%-16.57%37-4.54%-9.93%-16.76%38-4.62%-10.13%-17.13%39-4.75%-10.39%-18.02%40-5.06%-10.53%-18.03%22 41-5.37%-10.63%-18.60%42-5.40%-10.77%-18.66%43-5.42%-11.51%-18.96%44-5.66%-11.68%-19.03%45-5.67%-11.75%-19.71%46-5.84%-11.83%-20.19%47-5.97%-12.17%-20.98%48-6.19%-12.31%-21.54%49-7.13%-12.74%-22.91%50-7.40%-13.01%-23.03%51-7.67%-13.31%-24.18%52-7.84%-13.50%-24.96%53-7.98%-13.73%-25.07%54-8.12%-13.78%-25.26%55-8.14%-14.19%-25.74%56-8.37%-14.59%-26.48%57-8.51%-14.70%-26.69%58-8.55%-15.05%-26.80%59-8.62%-15.26%-27.20%60-8.81%-15.37%ST-27.81%61-9.07%-15.72%-28.08%62-9.25%-16.24%-29.18%63-9.89%-16.45%-29.48%64-10.00%-16.92%-29.53%65-10.07%-17.07%-29.67%66-10.16%-17.11%-29.74%67-10.21%-17.36%-30.15%68-10.40%-17.97%-30.93%69-10.42%-18.02%-31.05%70-10.78%-18.55%-31.10%71-10.79%-18.56%-31.28%72-10.81%-19.83%-32.97%73-11.35%-20.55%-33.10%74-11.60%-20.68%-33.33%75-11.66%-20.75%-33.39%76-11.67%-21.39%-34.39%77-12.36%-22.09%-34.85%78-12.50%-22.35%-35.54%79-12.52%-22.48%-35.74%80-12.83%-22.84%-35.82%81-13.06%-22.93%-36.68%82-13.07%-23.06%-38.14%83-13.22%-23.39%-38.47%84-13.24%-24.32%-38.55%85-13.59%-24.35%-38.56%86-13.75%-24.52%-38.60%87-14.04%-24.58%-39.19%88-14.41%ST-25.15%-41.68%89-14.45%-25.59%-42.39%90-15.98%-26.63%-44.44%91-16.13%-27.37%-44.85%92-17.20%-28.50%-44.97%93-17.29%-29.46%-44.98%23 94-17.34%-29.98%-45.80%95 ST-18.39%-32.59%-49.16%96-19.13%ST-33.11%ST-53.40%97 ST-22.37%-38.01%-55.01%98-23.53%-38.86%-59.31%iFinD 1 2023 2120.38 80.47%2023 2120.38 80.47%;9615.16 19.35%0.41/ROE 11.17%2 2023 20.61 19.88%2 2023 30.58 22.51%2023 30.58 22.51%;1.59 24.78%0.22/ROE 4.29%3 4000 2.49%6.27 39.09%216.31 0.13%39.49%4 3.53 67.02%276.00 5425.40 15.36%10.29%5 2024Q1 5871.33 177.60%2024 14.11 7.85%5871.33 177.60%5826.99 230.84%0.24/ROE 2.29%24 6 2024 2500 2024 2500 2023 7 2024 5 2024 4 15 180 1.98%5.00 100/8 358.84 1%358.84 1.00%6.49/5.67/6.15/2207.23 9 1 2024 4 16 0.96/1 9.2.1 A 20 1 10 44.05 155.27%44.05 155.27%11 1%2024 4 15,739.42 1.036%4.26 3.89/3023.08(12 2023 2.96 63.77%2023 26.07 13.59%2.96 63.77%2.81 53.66%0.72/ROE 6.81%25 13 2023 27.60 30.00%2023 215.24 39.21%27.60 30.00%14 2024Q1 1226.58 50.98%2024 5.26 1.99%1226.58 50.98%1006.77 358.56%0.056/ROE 1.69%15 2024Q1 3369.06 73.37%2024Q1 3369.06 73.37%1099.36 10.75%10 51 837.70 16 3.6 22.49%3.6 22.49%2.6 16.60%17 504.27 29.66%2024 4 17 A 450,000 0.26%504.27 29.66%18 2023 9157.26 2023 41.83 15.67%9157.26 2022 1.45-9653.78 2022-1.55 0.11/ROE 6.56%19 2023-5.09 2023 17.13 11.37%-5.09 26 2022-4.94-5.03 2022-6.95-0.44/ROE-40.70%20 2023 7944.37 7.74%2023 6.90 5.14%7944.37 7.74%7624.15 2.56%0.67/ROE 5.02%21 2024 2024,5 2024 4 17 3 2.43%5.00 100/22 54.60%54.60%27 6-12 A 300 500 20%5-20%5%5%“”
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