防水材料行业是不起眼的“好行业”，东方雨虹是防水行业率先突破百亿的企业，自2008年上市以来，连续10年平均复合增长率在35%左右，增速远超行业增速和同行企业，铸就了建筑防水隐蔽工程领域的“隐形冠军”。东方雨虹的核心竞争力有哪些？基于行业、经济周期的发展逻辑有哪些？资本市场在尝试着给出答案。
The description of the introduction department——the waterproof material industry is an obscure "good industry", and Oriental Yuhong is the first company in the waterproof industry to break through 10 billion yuan. Since its listing in 2008, the average annual compound growth rate for 10 consecutive years has been about 35 %. The growth rate far exceeds the growth rate of the industry and its counterparts, casting the "invisible champion" in the field of waterproof and hidden engineering. What is the core competitiveness of Oriental Yuhong? What is the logic of development based on industry and economic cycle? Capital markets are trying to give the answer.
从投资的角度而言，我们认为防水材料行业是不起眼的“好行业”，并且我们认为对行业和企业的视角不可局限于过往的从产业链景周期波动的逻辑......
中文版-详情 EnglishWe believe that waterproof material industry is of great potentials. The industry can not be analyzed only through periodic changes of industrial chains, but also company's ability to emerge, entrepreneurial spirits to expand......
维持“ 增持” 评级。公司公告 2017 年业绩快报，营收 101.93 亿元，同比增长 45.62%；营业利润同增 32.5%，利润总额同增 25.87%，归母净利润 12.44 亿元，同比增长 20.95%......
中文版-详情 EnglishMaintain “Overweight” rating. The revenue increased to 10.19 billion by 45.62%; operating profit increased by 32.5%; total profits increased by 25.87%. Net profit attributed to parent company owners increased to 1.24 billion by 20.95%......
新型防水材料 2000-2014 年经历了销量增速复合 20%以上的快速增长，一方面源自于房地产投资增速较高，另一方面源自于新型防水材料替代传统的沥青油毛毡。
中文版-详情 Englishhe new-type waterproof materials experienced the rapid compound growth of over 20% in sales volume from 2000 to 2014,which, on the one hand, is owing to the high investment growth speed in real estate, and on the other hand......
隐蔽工程的 “隐形 冠军 ” 是如何炼成的。防水材料在建筑工程中的重要地位以及广泛的应用使得行业空间巨大，根据测算，防水行业市场空间约为 2000亿元量级。
中文版-详情 EnglishA leap: has grown from the Chinese largest waterproofing system provider into the giant in functional building materials......
