Exports Of Textile And Garment Industry Recovered Weakly In 2013, And Domestic Market Continued To Be Weak.

This week the Shanghai Composite Index, Shenzhen stock index and Shanghai and Shenzhen 300 fell by 3.35%, 4.74%, and 3.75% respectively. P

< a href= "http://www.91se91.com/" target= "_blank" > textile > /a > < a href= "http://www.91se91.com/" target= "_blank" > clothing > plate > 6.64%, of which textile and clothing plates fell 5.92% and 7.38% respectively.

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< p > > this week, the General Administration of Customs announced the import and export data in December. In the past 13 years, China's textile and clothing exports have achieved a weak recovery, which is in line with our judgement in the beginning.

Textiles, clothing and accessories respectively exported 1069 or 177 billion US dollars, up 11.7% and 11.3% compared with the same period last year, and the growth rate was significantly higher than 1.2% and 3.9% in 12 years, but lower than 22.9% and 18.3% in 11 years.

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< p > domestic sales. In December, the retail sales of 50 major retail enterprises increased by only 2.5% compared with the same period last year. Although the growth rate of -2.2% and -1.6% in November and November increased somewhat, but in view of the frequent and intense sales promotion activities in December, we think the terminal demand is still difficult to improve. It is estimated that the performance of listed companies will continue to bottom up in the 13 quarter of the fourth quarter. This is also the main reason for this week's a href= "http://www.91se91.com/" target= "_blank" > clothing > /a > stocks.

Throughout the year, the retail sales of 50 major retail enterprises increased by 4.1% over the past 13 years, and the growth rate decreased by 5.9% over the 12 years. The contribution to the overall retail sales increased from 31.4% in 12 years to 13.8% in 13 years. Among them, men's wear fell most obviously, and fell by 0.6% compared with the same period last year, which was significantly lower than that of 12 and 12 years.

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< p > < strong > we reiterate the basic view of the 14 year industry: < /strong > /p >

The order and intensity of the 14-15 year industry recovery will follow the track of "sports leisure home textile" men's clothing - a href= "http://www.91se91.com/" target= "_blank" > shoes < /a > category. However, unlike the past, the recovery of the industry is limited by the lack of price elasticity, which will mainly depend on the rise of the terminal demand, while the franchisee in the middle part of the value chain is also lack of flexibility (in the past, the price of products has increased year by year, the franchisee's enthusiasm is high, the order is often enlarged compared with the real demand, and the attitude will be more conservative in the future under the background of lack of price elasticity). < p > brand Costumes: 13 years are the bottom of the whole industry, but they are being stocked by various sub sectors.

In the medium and long term, we suggest that enterprises that are actively innovating in the field of business mode during the period of industrial change will be concerned. The short-term impact on performance will be limited, but they will win in the long and medium term competition, including Pathfinder and American Apparel.

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< p > textile manufacturing: the performance of the textile manufacturing sector in the past 13 years is expected to exceed expectations. The core reason is that the increase in the quota ratio of imported cotton has led to a decrease in the cost.

In the 14 year, we believe that the synchronous recovery of the three economies in Europe, America and Japan will lead to further warming of external demand. The growth of leading enterprises has a high degree of certainty. The core recommendation is A.

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< p > < strong > news of industry companies: < /strong > < /p >

High; (2) southeast Asian labor costs rise or push clothing enterprises to increase prices; (3) luxury goods overseas purchasing market directly leads to mainstream sales channels; (4) noble birds: starting up the stock market is expected to net profit lower than last year 15%-20%; (5) MIG International: Hong Kong shares issued over 500 times the purchase of new shares; (6) the joint venture between Columbia group and Swire resources; and (7) kannudi road wholly owned Sun company acquired the 100% shares of ujige department store; (8) China Textile shares forecast annual net profit growth of more than 2013; < p > (1) gauze Market continuation of weak pre holiday purchase intention

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< p > < strong > industry data collection: < /strong > < /p >

< p > 328 cotton spot 19477 yuan / ton (-0.29%); American cotton CotlookA 88.40 cents / pound (-0.79%); viscose staple fiber 12230 yuan / ton (0.31%); polyester staple fiber 9831 yuan / ton (-0.48%); long staple cotton 34900 yuan / ton (-0.29%); inside and outside cotton price difference 3750 yuan / ton (-0.82%).

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