CITIC Securities: Valuing Current Construction Investment Opportunities

NightAirdropper

2026-03-16 05:23:23

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Everyday Economic News AI Express: CITIC Securities research reports indicate that in past down cycles, the construction industry has both optimized its competitive landscape and continued to expand its second growth curve. During the “14th Five-Year Plan” period, the industry’s overall demand is expected to bottom out and reverse, and with industry valuations generally remaining relatively low, we believe the current sector offers a dual investment logic: 1) Offensive side: companies that have already made substantial investments in their secondary businesses over the past few years are expected to be the first to see a revaluation; 2) Defensive side: some companies are increasing their dividend payout ratios against the trend, and their dividend yields are at relatively high levels. We maintain an “Outperform the Market” rating for the industry.

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