Prefabricated Housing Stocks

The domestic and foreign stocks related to prefabricated housing mainly fall into the following categories:

Domestic Stocks:

1. Building Materials Industry: Companies such as China Railway Construction Assembly (SZ300374), Beijing New Building Materials (SZ000786), and Anhui Conch Cement (SH600585). The building materials produced by these companies (such as prefabricated components, cement, and pipe piles) form the foundation for the construction of prefabricated houses, directly supporting the structural needs of modular buildings. For example, China Railway Construction Assembly focuses on the research and development of prefabricated building technologies, with products that can be quickly assembled into the main structure of a house; Anhui Conch Cement provides high-strength concrete materials used for the pouring of prefabricated components.
2. Building Decoration Industry: Companies such as Gold Mantis Construction Decoration (SZ002081) and Yasha (SZ002375). The interior and exterior decoration of prefabricated houses needs to be designed in sync with the main structure. These companies enhance construction efficiency through standardized decoration modules (such as integrated walls and complete bathrooms), meeting the demand for rapid delivery of prefabricated houses. For example, Gold Mantis's prefabricated decoration technology enables "immediate occupancy upon installation," highly compatible with the industrial characteristics of prefabricated houses.
3. Other Industries: This includes comprehensive companies like Zhangzhou Development (SZ000753), construction machinery companies like Tianyuan Intelligent (SH603273), and environmental governance companies like Pengyao Environmental Protection (SZ300664). Although these companies are not directly involved in the production of prefabricated houses, they support the full lifecycle management of prefabricated house projects by providing supporting services (such as engineering equipment and sewage treatment systems). For example, Tianyuan Intelligent's concrete mixing equipment ensures the quality of large-scale production of prefabricated components.

Foreign Stocks:
Champion Homes (SKY): As a leader in the North American prefabricated housing market, its business covers single-family/multi-family homes, modular buildings, park-model RVs, and extends to construction services, transportation, and loan services. The company reduces intermediate costs through a "factory direct sales + retail" model. Its modular building technology enables over 90% of the processes to be completed in the factory, with on-site installation periods shortened to a few weeks, aligning with the core advantages of prefabricated housing in terms of efficiency and environmental protection. Additionally, its joint venture loan services provide financial support to homebuyers, further driving market penetration.

Investment Logic: The prefabricated housing industry is driven by policies (such as green building standards), costs (rising labor costs), and technology (BIM, 3D printing). Domestic and foreign companies build competitive barriers through industrial chain integration (such as materials-design-construction integration) or technological differentiation (such as modularization and intelligence). Investors can focus on companies with large-scale production capabilities, technological patent reserves, and full industrial chain layouts to capture industry growth dividends.