2014 Clothing Textile: Clothing Home Textiles Optimistic About Related Diversification

The Shanghai and Shenzhen 300 index gained 20.5% during the year. Textiles and garments of Shen Wan The industry index rose by 38.1%, which significantly outperformed the Shanghai and Shenzhen 300 index, of which 41% of Shen Wan's textile manufacturing sector increased by 41% during the year, and the total number of Shin Wan's home textile sub sector rose by 35.3% during the year. As of November 28, 2014, the negative valuation was eliminated. The textile and garment industry's valuation was 27.94 times, the textile manufacturing sub industry valuation was 29.89 times, the apparel home textile sub industry valuation was 26.78 times, the valuation was further restored, and the overall market valuation center shift was the main reason.

The main points of operation in 2014: policy oriented cotton prices both inside and outside tend to be consistent. Cotton direct subsidy policy In September, the Cotton Conference of several ministries and commissions made the domestic cotton prices go down sharply. The difference between domestic and foreign cotton prices has narrowed to 494 yuan / ton, which has long been favorable for cotton spinning enterprises. The increasing number of clothing suppliers may be slowing down. AI data show that the scale of 14Q3 online shopping market is 691 billion 410 million yuan, an increase of 49.8% over the same period last year. Clothing is still the main force of online shopping, the traditional brand online advantage has been highlighted, and the double eleven growth rate of some leading enterprises has slowed down.

In 2015, industry development was concerned about related diversification, industry 4 and sports industry. The transformation is optimistic about related diversification, and the failure probability of M & a transformation is high. It pays more attention to the diversification of related businesses, persists in the main business, and chooses the collaborative business to conduct cross boundary transformation, which can increase the probability of success. The industry 4 guidelines and spins, the concept and technology of industry 4 satisfy the needs of individual customers while enterprises can make profits, which will promote the transformation of the C2B mode of the spun apparel industry. In October, the State Council promulgated the "opinions on speeding up the development of sports industry to promote sports consumption", which promoted the national fitness to a national strategic level, which will promote the sporting goods brand to recast brilliantly.

Investment point of view. Good textile manufacturing leading enterprises, in addition, the textile leading industry is expected to quickly cut into the Internet and the Internet of things era, to achieve the transformation of the Internet and the Internet of things, and to realize the business transformation and maintain better than the big city rating. The stocks suggest that the three leading companies of cotton spinning (Lutai A, Huafu color spinning and Baron East), especially Lutai A, have involved 4 industries related to technology, and leather leading industry technology and printing and dyeing leading civil aviation shares; the apparel home textile sector, the industry will go to the end of the stock market, and the 15 years are expected to recover at the bottom. The leading enterprises in the market will have cross boundary transformation, optimistic about the transformation of related diversification, and have achieved synergy effect, maintaining better than the big city rating, and choosing two dimensions on the stock market: the performance improvement + transformation leader, and the proposed attention: Semir clothing, 4 textile manufacturing sector continued to show weak export recovery, cotton price ladder diving and internal and external cotton prices narrowed in place, long-term. Home textile Fuanna, Pathfinder and George Bai.

Risk warning. The uncertainty of economic growth; uncertainty in the process of transformation; and erosion of profits by rising costs.