This Year, The Profit Growth Rate Of Chinese Garment Enterprises Is Lower Than That Of Textile Enterprises.

< p > this year, < a target= "_blank" href= "http://www.91se91.com/" > textile < /a > a target= "_blank" href= "_blank" > clothing "< >" accumulated year-on-year decline.

Among all kinds of textiles, the highest growth rate is still the yarn production, and the growth of the yarn dyed fabric is slow. However, as the supply of scarce high-end fabrics, its prospects can still be expected.

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< p > the total retail sales volume of social consumer goods has slowed down over the past few years, while the total sales volume of the total sales volume of the total sales volume above zero has declined rapidly compared with the same period last year. This shows that the clothing sales situation of large and medium-sized enterprises is grim, and the middle and high price clothing < a target= "_blank" href= "http://www.91se91.com/" > dress < /a > sales are greatly affected.

The main reason is the slow growth of residents' income and the lack of social security, which leads to insufficient consumer confidence and the threat from online shopping to physical stores.

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< p > the growth rate of textile enterprises' revenue growth has been improved, and the profit growth rate has been rising faster, indicating that it is going through a low ebb.

The profit and profit growth of garment and garment enterprises is less than that of textile enterprises.

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< p > < strong > investment strategy < /strong > < /p >

The export situation of the textile manufacturing industry has improved slightly, and the external economy has continued to recover. The industry began to recover. Although the net profit margin of the first quarter of this year is still declining, the gross profit margin has increased over the same period last year, and the differentiation between the companies is more obvious. "P"

The drop in external cotton prices has made domestic cotton enterprises expected to lower costs, especially with less cotton import quotas, and the cost reduction of cotton enterprises without a complete industrial chain is expected to be stronger.

With the gradual decline of cotton prices and the expansion of demand, supply began to show inadequacy. It is estimated that the price of cotton in the second half of this year will be limited.

Therefore, we need to pay close attention to the actual cost reduction of cotton enterprises.

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The apparel home textile industry in P > 12 years has seen a sharp decline, and revenue and profit growth has dropped sharply. Inventory turnover and accounts receivable turnover rate are decreasing.

Due to the sluggish terminal sales, many companies' 13 year franchisees' orders will also be greatly affected. The growth of 13 years is hard to pick up. Moreover, the situation in the first quarter of this year is still in the doldrums, and the valuation of the whole industry has shifted down, but the growth rate of the other sub sectors and companies is relatively high, and the situation is still relatively good.

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< p > at present, the valuation premium rate of textile and apparel industry relative to A-share is close to 70%, which is basically in the middle position of the past two years, and is relatively safe, but the possibility of substantially surpassing the market in the near future is not great.

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< p > we suggest that we should remain steady and pay attention to textile manufacturing companies such as the recovery of the orders and capacity expansion, such as the cashmere industry, and the companies in the clothing industry that are steady, start early inventory clearance, and have relatively high growth rates at the same time.

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