Textile And Clothing: The Growth Of Fixed Assets Investment In Chemical Fiber Industry

Main points of investment:

The growth rate of fixed assets investment in the chemical fiber industry was 1-4 months. The total investment in fixed assets of the textile and garment industry totaled 81 billion 146 million yuan, representing a year-on-year increase of 19.08%.

In a single month, the investment in the textile industry increased by 15.18% in April, and the investment in clothing industry increased by 23.22% compared to the same period last year. The growth rate of the chemical fiber industry increased this month, up by 42.55% over the same period last year.

Textile and clothing exports increased by 26.1%, 9.5% and 1-4 months respectively in 1-4 months. The total export volume of China's textile and garment industry reached 53 billion 787 million US dollars, representing an increase of 15.54% over the same period last year.

According to the industry, textile exports in the first 4 months were 21 billion 596 million US dollars, an increase of 26.1% over the same period last year. The growth rate in April was 24.81%, a year-on-year increase of 26.6%, and the export volume of garments for 1-4 months was 32 billion 192 million US dollars, up 9.5% over the same period, and 10.62% in April.

Clothing sales volume increased by 26.37% in April compared with the previous month, 1-4 months, the total retail sales of clothing category exceeded 135 billion 520 million yuan, an increase of 26.37% compared with the same period last year. In April, the retail sales grew by 20.84% in the same month and 5.31% in the same month.

The number of clothing retail sales of hundreds of major retail enterprises in China reached 7 billion 59 million yuan in April, an increase of 23.6% over the same period last year, and a slight decrease of 3.76% in the annulus.

Domestic cotton prices rose unabated, prices of chemical fiber fell, international cotton prices fell 1.71% in CotlookA5 months, and the price of national cotton 328 kept rising, rising 2.94% this month.

The price of PET staple fell 5.65% in May, and ended at 10020 yuan / ton at the end of the month. The price of viscose staple fell from 19830 yuan / ton to 19400 yuan / ton, or 2.17%.

Investment suggestions: textile and apparel exports are facing a severe situation in the second half of the year. The main export markets, the employment data in the United States are relatively bad, the economic recovery is slow, the European market is more sovereign debt crisis, and the market demand is more difficult to grow.

In addition, the rising cost of raw materials and labor costs are squeezing the gross profit of export enterprises, coupled with the pressure of RMB appreciation, and the export of industries is difficult to maintain, maintaining the "neutral" rating of the whole industry.

In terms of stocks, we are optimistic about the United States and costumes, and maintain their "highly recommended" investment rating. We should pay attention to Saturday, Weixing stock and Luo Lai home textiles.