Textile And Clothing: Focus On Textile Manufacturing Leader And Brand Men'S Wear And Casual Wear.

Main points of investment:

Exports are expected to slow down, showing signs of rising prices.

On the export side, the number of exports of primary products is still quite different from that of last year, but the rate of decline is slower than that of last year. The export volume of clothing has declined from the peak, only slightly higher than last year.

Orders are decreasing, and future exports are expected to continue to weaken, but in general, the current export data are still in the core area.

In terms of output, cotton production, yarn output, cloth output and garment output growth remained stable in October.

The fixed asset investment in textile industry grew by 29.6% year-on-year, slightly down compared with the previous month.

In terms of price, in the production sector, the PPI of textile industry in October was 6.05, a sharp decline in three consecutive months, and PPI of clothing was 3.75, with little change. The consumption chain, clothing and clothing category CPI continued to create a new high, reaching 4, and the trend of rapid growth.

The producer price index is expected to decline in the future.

Market trend

In November, the Shanghai Composite Index fell 2.26%, the Shanghai and Shenzhen 300 index fell 3.22%, the Shen Wan textile and garment industry dropped 0.72%, the Shen Wan textile manufacturing industry index fell 1.39%, and the Shen Wan clothing textile industry index fell 0.16%, all surpassing the market index.

At present, the valuation of textile and garment industry is 23.03 times, the textile manufacturing industry is valued at 21.95, and the apparel home textile industry is valued at 23.63.

It is located in fourteenth of the 23 Shen Yi industries and does not exceed the historical average in the long run. It still has certain valuation advantages.

The biggest increase in November was dominated by textile companies.

The biggest increase was in the cashmere industry, and the company announced the fund-raising for the construction of a number of special textile high-grade textile spinning technical pformation projects, which is in line with the textile industry's "12th Five-Year plan" to develop the direction of high-end fiber.

The increase of second of Jiaxin silk has benefited from the "12th Five-Year plan" released by the state in the cocoon and silk industry, and the industry's future development has been supported.

Investment strategy this month

As of October, the industry data showed that the textile and garment industry was relatively stable overall, and the export of the textile industry showed a shrinking trend due to the weakening of the overall demand and the impact of foreign manufacturers looking for new foundries.

The price index shows controllable signs, but it still needs to be observed.

Maintain a "neutral" rating of the industry as a whole.

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