Capital Securities: Investment Strategy For Textile And Garment Industry In The Second Half Year

　　 second half Investment The strategy is to take advantage of listed companies which are mainly domestic sales and have brand advantages and channel advantages. The financial crisis has spawned the transformation of China's textile and garment industry. The adjustment and revitalization policy of textile industry calls for further efforts to eliminate backward production technologies and equipment such as high energy consumption and high pollution.

At the same time, it will also focus on cultivating a number of enterprises with independent intellectual property rights and private brands to enhance industrial competitiveness and market control, which will bring opportunities for the expansion of advantageous enterprises. We believe that after this round of industrial adjustment and elimination, the whole textile and garment industry will become stronger and stronger in the future, and China's independent brands will gradually emerge in the international market.

We believe that the current domestic Spin Clothing consumption is in the stage of paying attention to brand and pursuing added value of products. Enterprises are also entering a new period of "cultural value competition", which requires a simple and extensive mode of processing and imitation, changing to the mode of product innovation, brand building and diversified channels. From the perspective of investment strategy, we are optimistic about domestic listed companies with brand advantages and channel advantages. In terms of stocks, it is recommended to pay attention to "seven wolves [31.80 1.31%]" and " Wedding bird [23.74 0.25%] "is recommended to _A investment rating.