CITIC Securities: Under the trend of "anti-inner struggle," the prices of waterproof products in China are gradually stabilizing.

On September 17, Citic Securities research report stated that the transaction area of residential land nationwide is expected to turn positive year-on-year in the first half of 2025, indicating a gradual recovery in the enthusiasm of enterprises to acquire land, which may drive the improvement of new construction area. Citic Securities recommends the waterproofing sector at the current point in time, firstly because waterproofing is related to the construction sector, and secondly because the concentration of the waterproofing industry has significantly increased. In addition, under the trend of "anti-overwork", the prices of waterproofing products in China are gradually stabilizing.