<p>中信证券：建筑和工程行业专题报告之－建筑钢结构子行业</p><p>10.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15页</p><p>&nbsp;</p><p><br/></p><p>目 录<br/>投资聚焦···························································································································································································1<br/>建筑钢结构概况···································································································································································1<br/>本篇报告的逻辑结构及投资要点········································································································································1<br/>建筑工程行业处在景气上升通道为建筑钢结构行业的发展营造了良好的外部环境····························································1<br/>建筑工程行业依然处在景气上升通道································································································································1<br/>建筑钢结构行业的发展面临良好的外部环境····················································································································2<br/>朝阳行业，构筑未来······································································································································································2<br/>我国建筑钢结构行业发展历程············································································································································2<br/>钢铁工业的成熟为建筑钢结构行业发展奠定了坚实的基搐····························································································3<br/>“追赶效应”和“替代效应”打开行业发展空间···············································································································3<br/>行业集中度稳步提升，并购整合浪潮汹涌··································································································································5<br/>行业整体集中度低，但高端市场集中度较高····················································································································5<br/>并购整合浪潮汹涌·······························································································································································6<br/>建筑钢结构细分子行业分析··························································································································································6<br/>子行业景气不均···································································································································································6<br/>重钢结构发展空间大，空间钢结构利润高························································································································7<br/>建筑钢结构住宅市场悄然启动············································································································································7<br/>行业估值及评级···············································································································································································8<br/>估值方法··············································································································································································8<br/>估值水平··············································································································································································8<br/>行业评级··············································································································································································9<br/>行业投资策略···················································································································································································9<br/>投资策略··············································································································································································9<br/>重点公司推荐·····································································································································································10</p>