Textile And Clothing: Domestic Sales Rebounded
Textile and apparel industry
A week's market review and outlook this week, the Shanghai Composite Index, Shenzhen stock index and Shanghai and Shenzhen 300 fell 1.92%, 3.34%, 2.11% respectively.
Everbright textile and garment sector fell 3.27%, of which 3.65% fell from the textile sector and 2.99% from the clothing sector. This week, stocks performed relatively well, benefiting from "12th Five-Year." Plan "Textile stocks, brand clothing continues to be under pressure.
This week, the National Bureau of statistics and the General Administration of Customs released the economic performance data in November, of which clothing prices rose by 3.5% over the same period last year, a slight drop of 0.2 percentage points, and the retail sales of clothing shoes and hats and needle textiles increased by 22.5% over the same period last year, the growth rate increased by 3 percentage points compared with that in October, and the growth rate of textile and garment exports in China continued to slow down to 21.18% in October.
We believe that the inflection point of clothing price increases has been established and will be coming in the coming months. along with CPI continued to decline. The price increase of clothing products mainly started in the second half of last year. In the coming months, it will be affected by the high base. In November, the retail sales of clothing shoes and hats and needle textiles rebounded year-on-year, and the consumption of "double knot" factors in October last year led to a lower base. Last year, the export growth rate continued to fall, which was in line with our expectations.
It remains to be seen whether the domestic sales rebound will continue. For example, if the late temperature stays low, part of the demand for winter clothing will be compensated for the warmer winter ahead, we still need to pay close attention to the changes in terminal sales.
In the medium and long term, based on the comparison of the market share of the leading companies in different industries and the judgement of the life cycle of the industry, we believe that brand clothing and subdivision industries are still far away from the ceiling, and there is still much room for development and investment value.
Industry news trends: (1) with 5 years of scientific research results to return to the textile industry, hemp fabric becomes the exclusive magic weapon of YOUNGOR; (2) the International Cotton Advisory Committee: the global cotton planting area decreased by 8% in 2012/13; (3) the new direction of China's spinning and weaving enterprises: Italy brand; (4) the expected depreciation of the RMB's frequency limit is conducive to the export of textile and garment industry; (5) the newsbird investment is more than that of Lu, and the new products of the children's wear are improved; (6) the Chinese textile industry may face a new green tax.
Trends in Listed Companies: (1) ST de cotton: Announcement Assets Replacement and related party transactions announcement; (2) Xinmin Technology: the board of directors deliberated on the issue of non-public offering of shares; (3) search for special: investment and construction company's new headquarters project; (4) Roley home textiles: changing the implementation location of direct chain marketing network construction project; (5) seven wolves: equity pledge announcement.
Summary of industry data: raw materials: grade 328 cotton spot: 19057 yuan / ton (0.27%); American cotton Cotlook A:98.7 cents / pound (0.56%); viscose staple fiber: 15800 yuan / ton (1.61%); polyester staple fiber: 11350 yuan / ton (5.09%).
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