Analysis Of Weekly Market Trend Of Textile And Garment Industry

< p > week review: 1. Industry tracking: 1. Last week, < a href= "http://www.91se91.com/" target= "_blank" > textile < /a > a href= "http://www.91se91.com/" target= "http://www.91se91.com/" > clothing > < > > many companies released 2012 annual report and performance Bulletin: as we pointed out in the Yearbook, textile and apparel 2012 annual report is lower than expected, and the net profit of "2012", "dress", "Meng Jie", "home textile", "Jia Linjie" and other net profit all fall 30% and above, and the decline is particularly evident in the four quarter.

At present, the retail terminal has not yet improved significantly, and we remain neutral to the industry as a whole.

(2) the textile and Garment Group invited Mr. Wang Qian, editor in chief of the first textile network, to speak on the current industry and export situation. The textile and garment industry is facing serious challenges, but at the worst time has passed, and the future export will enter the era of "high cost and low growth".

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< p > 2, company tracking: (1) Baron orient research: marginal demand improvement, high inventory cotton gradually digested, recommended focus.

It is estimated that the output will increase by about 15% in the 12 years. If the cotton price is stable, it is expected that the annual income growth interval will be 10-20% in the 13 year. With the digestion of high stock cotton, the gross profit will be gradually improved in the future.

YOUNGOR research: it is expected that the textile and garment sector will achieve a steady growth of 15%-20% in 2013. When the real estate enters the peak year of settlement, it is estimated that the profit of 13 years will be around 1 billion, and the equity investment business will be gradually reduced and pformed into industrial investment.

3. Zhejiang home textile market research: local brands are relatively strong in the locality. We believe that the future development potential of the home textile market is still very large. With the promotion of urbanization and the awakening of residents' consumption consciousness, there is still much room for the extension and refinement management of listed companies such as Luo Lai and fuanna.

(4) the annual report of the United States of America clothing: 12 annual income decreased by 4.4%, net profit decreased 29.6%, EPS was 0.85 yuan, inventory and cash flow improved significantly, the fourth quarter joining the business is lower than expected, resulting in a sharp decline in profits.

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< p > > a href= "http://www.91se91.com/news/index_s.asp" > Home Textiles < /a > performance Bulletin: 12 annual revenue growth of 14.7%, net profit growth 1.5%, EPS 2.70 yuan, fourth quarter performance growth rate improved significantly.

6. Long term performance report: 12 annual revenue growth of 33.6%, net profit growth of 10.6%, EPS 1.15 yuan.

Higher cost in the four quarter resulted in a 62.6% drop in net profit for the single quarter.

Newsletter performance Bulletin: 12 annual revenue growth of 11.4%, net profit growth of 30.7%, EPS 0.81 yuan, income tax back to the four seasons Tara company net profit is higher than the operating profit.

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< p > "Fu Anna" performance Bulletin: 12 annual revenue growth of 22.2%, net profit growth of 26.1%, EPS 1.62 yuan.

Mengjie's home textile performance Bulletin: 12 year income fell 3.6%, net profit fell 47.9%, EPS was 0.39 yuan.

In the 12 year income growth of 46.6%, net profit grew 57.6%, EPS was 0.95 yuan.

Semir clothing performance Bulletin: 12 years revenue fell 9.3%, net profit fell 38.2%, EPS was 1.13 yuan.

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< p > last week, the textile and garment sector was weaker than the market.

Textile and apparel index rose 1.10%, compared with the 1.89% index of Shen Wan A index.

Among them, the textile manufacturing index rose 2.24%, relative to Shen Wan A index fell 0.75%; clothing home textile index fell 0.06%, relative to Shen Wan A index fell 2.93%.

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< p > industry basic data: (1) in February, manufacturing industry PMI was 50.1, < a href= "http://www.91se91.com/news/index_c.asp" > textile industry < /a > PMI was 40.4, and garment industry PMI was 44.7.

Last week, the price of cotton and chemical fiber mixed with each other: domestic 328 spot spot last week reported at 19326 yuan / ton, and Zheng Mian's main contract reported 19840 yuan / ton.

Polyester staple fiber dropped slightly at 11500 yuan / ton, viscose staple fell 0.7% to 15000 yuan / ton, polyester chip fell 3.4% to 10750 yuan / ton.

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< p > our view: Men's clothing is still bottoming up, home textiles is improving gradually, and cotton textile is revived.

We believe that after more than a year's inventory and adjustment, home textiles are expected to take the lead out of the low cycle of prosperity. It is expected that the growth of the autumn and winter orders will be improved. In the long run, the industry is in a growth stage and the development space is still very large. The inventory problem of men's clothing has only begun to appear in the past 12 years, and the downturn of the retail terminal will further delay the de conversion time. The whole industry is still in the bottom up process, and the growth rate of autumn and winter orders will continue to slow down.

It is estimated that the overall performance of the spinning and weaving industry is still lower than expected, and the business situation in the second half of this year is expected to gradually improve.

We should continue to recommend Shanghai Jahwa, which has strong growth momentum, and restore resilient home textiles.

In terms of textile manufacturing, the price difference between domestic and foreign cotton has gradually decreased with the rising price of foreign cotton. It is suggested that we should pay attention to the operation improvement process of manufacturing leader A, Bailong orient and Huafu color spinning.

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