Textile Sector: The Shanghai And Shenzhen 300 Index Fell 0.5% In July, Down 13.2%

< p > plate performance.

The Shanghai and Shenzhen 300 index decreased by 0.5% in July, a cumulative decrease of 13.2% during the year; Shen Wan < a target= "_blank" href= "http://www.91se91.com/" > textile > /a > a target= "_blank" href= "http://www.91se91.com/" > clothing index > industry index increased by 2.3% in July, a 11.4% decline in the whole year; the Shen Wan textile manufacturing industry index rose 2.3%, and the cumulative decline in 3.1% during the year; the Shen Wan clothing textile industry index rose 2.3%, and the cumulative decline was 18.6% during the year.

As of 07 February 30, the negative valuation was eliminated: the value of textile and apparel industry is 16.57 times, the textile manufacturing industry is 20.50 times the value, and the apparel home textile industry is worth 14.72 times.

< /p >

< p > key company research and tracking.

1) Xingye science and technology: the rate of cost decrease and the increase of gross profit margin promote the steady growth of performance. We continue to view the company as a leader in the industry for a long time to benefit from the policy control bonus and the guarantee of the company's future growth in the continuous production of new capacity projects. Taking into account the capacity utilization rate, the EPS of the company's 2013-2015 years is slightly reduced by 0.77 yuan, 0.93 yuan and 1.24 yuan. The corresponding price earnings ratio is 13 times, 10 times and 8 times respectively, and there is a certain margin of safety to maintain a prudent recommendation.

< /p >

< p > industry dynamics.

1) in June 2013, the retail sales of 50 key large retail enterprises increased by 13.5% over the same period last year, the first time since the beginning of the year, the sales volume of clothing sales increased for the first time to exceed 10%, reaching 11.1% in the first half of the year. The sales volume of the major retail enterprises in the first half of the year increased by 10.7%, and the growth rate slowed down by 0.3 percentage points. In June, the number of retail sales of major large retail enterprises increased by 11.5% over the same period last year, and the retail sales grew by 12.3%.

< /p >

< p > investment viewpoint.

(1) textile manufacturing: the first half year results of textile production in mid season will be fulfilled. Attention should be paid to the industry leaders and enterprises with technical barriers. It is recommended to pay attention to the three leading brands of cotton spinning (Lutai A, Huafu color spinning and Baron East), and < A target= "_blank" href= "http://www.91se91.com/" > leather < /a > leading technology.

(2) clothing home textiles: the terminal has warmed up, but the newspaper is expected to be relatively poor. Attention should be paid to the relevant risks, with a focus on companies whose performance is relatively clear or with improved expectations. Suggestions are given to individuals such as fuanna, Luo Lai home textiles, card nundi Road, Semir a target= "_blank" href = "http://www.91se91.com/" > dress < /a > and Mei Bang dress.

< /p >