2014 Home Textile And Men'S Clothing Performance Recovery

< p > < strong > 1, plate last week performance review.

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Last week, the Shanghai Composite Index fell slightly, with a total fall of 0.86%, while the spinning and weaving sector increased by 0.28%, of which 0.7% of textile production and 0.15% of clothing and home textiles fell by 0.28%.

Judging from the whole year of 2013, the Shanghai Composite Index fell by 6.75%, and the overall growth of the textile and clothing sector increased by 8.16%, which significantly outperformed the market, with textile manufacturing up 15.54% and apparel home textiles up 1.84%.

As for stocks, the top three companies led by last week were Semir a href= "http://www.91se91.com/news/index_f.asp" > dress < /a >, Luen Fat shares, and Meyer, leading the top three companies to Huarun Jinhua, jinfeida and Shenda group.

Hong Kong shares, led by Tianhong textile, an Li Fang holdings, BELLE international, led Anta sports, Lining, China trend.

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< p > < strong > 2, important announcement and dynamic tracking of the company.

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"P > >" nore "- receiving the right to use the land for 71 million 610 thousand yuan; the director and deputy general manager Zhang Han resigned; Luo Lai home textile - subsidiary bought 40 million yuan of financial products; Jialin Jie --2013 profit distribution plan pre disclosure; AOKANG International - through high-tech enterprises review; Bailong East - Vietnam production area capital increase; < a href=" http://pop.sjfzxm.com/popimg/fz/index.aspx "> Semir dress < /a > - to terminate the purchase of equity framework agreement.

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< p > < strong > 3, important data of the industry.

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< p > raw material (1) cotton: 328 spot spot weekly average price 19534 yuan / ton (+0.03%); CotlookA:89 cent / pound (1.63%); inside and outside cotton price difference mean 3962 yuan / ton (-4.15%); long staple cotton (137 grade) 35000 yuan / ton (0%).

(2) chemical fiber: polyester short 9878 yuan / ton (+0.32%); spandex 40D49500 yuan / ton (+0).

(3) cowhide: 103 cents / pound (0%).

(4) cashmere: 1015.8 yuan /kg (+7.49%).

(5) gold: upper gold place Au100g240.94 yuan /g (+0.54%), London spot $1210.33 / ounce (+0.81%).

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< p > < strong > 4, maintaining the industry's prudent recommendation.

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< p > combined with the current terminal retail environment (facts show that the retail environment in September 2013 is less than the first half of the year, especially the < a href= "http://www.91se91.com/news/index_h.asp" > the high-end shopping malls brand > /a > the trend continues to when we can not give the final conclusion), we repeatedly mentioned that the opportunity of dress 2014 is not a big opportunity, mainly is the opportunity to clear inventory short logic. The long-term big investment logic depends on the improvement of innovation and management level, compared with the brand apparel enterprises at home and abroad, there is a big gap in operation management.

In accordance with the order of clear inventory, taking into account the rebound in sports and public recreation, combined with the valuation level, the targets chosen in 2014 were mainly concentrated in home textiles and men's clothing.

For the performance recovery of home textiles and men's clothing, considering the current data (2013 autumn and winter sold out rate is still normal), the arrival time of its investment will be later than the prevailing market view.

Based on the thorough clearance, the wedding birds were the target of investment in 2014. Besides, Semir clothing, Luo Lai home textiles and YOUNGOR were also the targets of investment for the whole year. On the basis of the first two weeks' weekly report, they maintained the short term recommendation for the Pathfinder.

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< p > for production enterprises, we believe that these manufacturing companies have competitive advantages in the global market, such as Yaguang home textiles and Shenzhou International. Direct docking with WAL-MART and UNIQLO is similar to the selected products (limited performance volatility). We believe this is also the reason why Hong Kong stocks give Shenzhou International and Tianhong textile high valuations.

For Lu Tai A, considering its 14 years ago before the performance growth, the company's dominant position in the market, and continue to maintain the recommended rating in the short term.

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