Last Week, The Textile And Garment Sector Rose Under The Promotion Of Home Textiles.

A week's main review: 1. Industry tracking: 1. clothing Home textiles Rose: last week Spin With the rise of home textile industry driven by home textiles and the rebound in real estate sales, the income and performance of home textile enterprises will be gradually improved. 2. In January, the textile industry PMI was 48.7, and the clothing industry PMI was 49.7. The index of textile industry has increased, and garment industry has remained relatively high since the fourth quarter of 2012.

2, company tracking: (1) the review of the stock ownership incentive and the tracking of the franchisee: the company intends to grant 3 million 500 thousand options to cover 220 people, the exercise price is 43.49 yuan, and the exercise conditions are: the compound income growth rate of 13-15 years is not less than 15%; and the net assets yield is not less than 16%. The company's equity incentive at this time is intended to show confidence in future revenue growth. It is expected that incentive schemes for executives will be introduced later. For 12-14 years, EPS was 2.66/3.00/3.60 yuan, corresponding to PE 18.4/16.3/13.6 times. Last week, we tracked a franchisee in Jiangsu: Recently, the franchisees made up the 10-20% of the spring and summer ordering amount for about 13 years to cope with the big promotion in March. At the end of the year, the group buying business was reduced by the government's anti-corruption and advocacy of savings. 2. Seven wolf 2012 performance bulletin and provincial sales tracking: 12 year business revenue 3 billion 473 million yuan, an increase of 18.93% over the same period, net profit of 564 million yuan, an increase of 36.68% over the same period, equivalent to EPS of 1.12 yuan, in line with market expectations. Last week, we tracked the sales situation of a large province, with a slight decrease in retail sales in January 2013. 3. The 2012 performance bulletin and the announcement of property purchase: the 12 year operating income of the company was 636 million yuan, an increase of 37.85% over the same period, with a net profit of 168 million yuan, an increase of 53.2% over the same period last year, which is equivalent to EPS of 1.68 yuan, which is in line with market expectations. The company holding Sun company "even Cafu" purchase 129 million yuan with its own funds in the new city of Hengyang to build shops for high-end boutique buyers.

Last week Textile and clothing The plate trend is weaker than the market. Textile and apparel index rose 4.2% last week, down 1.24% from the Shen Wan A index. Among them, the textile manufacturing index rose 3.08%, relative to Shen Wan A index fell 2.36%;

Apparel home textile index rose 5.22%, relative to Shen Wan A index fell 0.22%.

Industry basic data: (1) in January, the PMI of textile and clothing was 48.7 and 49.7, and the overall PMI index was 50.4. Last week, the price of cotton and chemical fiber basically stabilized: domestic 328 spot spot last week reported at 19271 yuan / ton, Zheng cotton main contract rose 1% to 20130 yuan / ton. Polyester staple fiber dropped 0.2% to 11600 yuan / ton, viscose staple fiber leveled at 14450 yuan / ton, spandex 44dtex filament leveled at 44400 yuan / ton.

Our view: Home Textile fundamentals, clothing channel inventory is still being digested. 12 since the second half of the year, the inventory pressure of home textile industry has been decreasing, and the recovery of real estate sales is expected to promote the gradual recovery of enterprise performance. Recently, some garment enterprises announced the results of the newsletter. It is estimated that the annual growth of men's wear annual report is still relatively steady. However, from the perspective of grassroots research, there is no obvious improvement in clothing retail terminal. Based on the pressure of channel inventory pressure, the pace of extension and expansion is slowing down, and it is estimated that 2013 is expected to be 12. Clothing enterprise The growth of revenue and net profit will slow down. It is recommended that Shanghai Jahwa and real estate resuscitation driven home textile leader Luo Lai textile home with strong performance. It is suggested that YOUNGOR, a diversified development company, benefit from the investment and real estate business of the company. The text is finished. You can comment on alt+4.