On The Future Trend And Pattern Of Textile And Garment Industry

Shenyang Wanguo issued a research report on textile and garment industry in January 6th.

A week's main review: 1, industry view: the National Bureau of Statistics announced the PMI index in December was 50.1%, down 0.2 percentage points from last month, which is slightly higher than the critical point, indicating that China's manufacturing industry remains stable, but the growth momentum is still insufficient.

2, 31, December, the Ministry of Finance and the State Administration of Taxation issued a notice to increase the export tax rebate rate of some high value-added products and textiles and garments, including twisting processed mulberry silk and green silk, and the tax rate increased from 16% to 17%.

Industry and company tracking: (1)

(36.00,0.020,0.06%) tracking: the company intends to sell 23.84% stake in the Chinese medicine sale company.

Tian Jiang pharmaceutical is mainly engaged in the research and production of dispensing granules of Chinese medicine. The annual income of 2013 yuan is 2 billion 500 million yuan, and its net profit is 546 million yuan. The total valuation of all the shares is not less than 9 billion 200 million yuan, and the highest value is not more than 10 billion 200 million yuan.

The estimated investment income is 22-24 billion yuan.

(2) 23.80,0.050,0.21% tracking: Mr. Li Wei resigned from the company's board of directors as a representative of securities affairs and resigned from office.

(3) Hinur (0.00,0.000,0.00%) tracking: Mr. Wang Guibo resigned from the board of directors of the company for personal reasons and resigned from the board of directors of the board of directors. Mr. Zhang Zuoyan resigned from the board of directors of the company for personal reasons and resigned from the board of directors.

(4) 16.70,0.000,0.00% tracking: the company intends to buy Hai Hao's separate property and the corresponding land construction shoe sole finishing workshop, with a floor area of 11376.15 square meters and a land use right area of 2938.52 square meters and a paction price of 19 million 857 thousand and 400 yuan.

(5) fuanna (13.52, -0.130, -0.95%) tracking: the company passed the motion on granting related matters to reserve shares in the company's restricted stock incentive plan, and determined that part of the grant date was reserved for the restricted stock in December 30th 2014. The price was awarded to 6.91 yuan / share, and the total number of 124.78 shares was granted to the company. The target group was 31 middle-level management personnel and core technology (business) personnel. The total incentive cost was 5 million 696 thousand and 400 yuan.

(6) seven wolves (9.18, -0.050, -0.54%) tracking: the company holding subsidiary Anhui seven wolves to set up a foreign equity participation company Anhui Suzhou Lixing fashion industry Co., Ltd.

In the original motion, Cai Huashan intends to no longer participate in the fashion operation. After consultation, all the rights and obligations of Cai Huashan will be accepted by Chen Boyin, and the rest will remain unchanged. 1.

(7) nine Mu Wang (13.14, -0.150, -1.13%) tracking: the nine capital investment and finance Tong Securities of the wholly-owned subsidiary of the company was signed in November 14th 2014 in November 14th. The final plan was determined as follows: the investment of 2.98 yuan / share was subscribed to 62 million shares of CAITONG securities, with a total investment of about 18476 yuan.

The company has paid the relevant amount according to the agreement.

(8) the hundred round trousers industry (27.78, -0.040, -0.14%) tracking: the company recently received the support from the Taiyuan municipal government for the company's access to the listed resource pool, 263 yuan and ten thousand yuan, which will be regarded as the company's extra business income, and will be included in the 2014 current profits and losses.

(9) INTERCHINA group (6.45, -0.070, -1.07%) tracking: 3521 of the wholly-owned subsidiary of the company, 3521 of the company, has pferred the land use right from the idle plant to the Nanjing Jiangning high new park management committee. The total compensation is 210 million yuan, and it is estimated that assets will be disposed of about 16544 yuan.

(10) Saturday (8, -0.040, -0.50%) tracking: in December 30, 2014, the company received the "Big Dipper corporate support Award Fund" issued by Foshan Nanhai District government, 323 yuan million yuan, will be included in operating income.

(11) the technology of the company is traced: the Chinese name of the company is changed to "the 8.80,0.000,0.00% of Chinese hemp industry (Limited by Share Ltd)". Since the 5 day of January 2015, the company's securities short changed to hemp industry.

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Last week, the textile and garment sector was weaker than the market.

Textile and apparel index fell 2.08% last week, down 2.16% from the Shen Wan A index.

Among them, the textile manufacturing index (1436.93, -6.200, -0.43%) fell 3.24%, the 3.32% index of Shen Wan A, the apparel home textile index rose 1.04%, relative to A A fell 1.12%.

Our viewpoint: New Year's new climate, we recommend valuations to repair high potential consumer blue chips and adapt to the new normal changes in the economy.

We believe that there are two main lines of investment in the textile and garment industry at present: (1) from a fundamental point of view, we are optimistic about high quality consumption blue chip stocks: Hai Lan's home (10.01, -0.080, -0.79%). (New Year's holiday, three days, the estimated sales income is 3-4 billion yuan, the annual electricity supplier expects to achieve 4 billion yuan income, the company's valuation is low, and maintain the buying rating).

(18.01,0.060,0.33%) (fourth quarter performance is expected to be bottomed, employee stock ownership plans to buy stocks completed), Luo Lai home textiles (26.86, -0.140, -0.52%) (bottom up, promote channel change, set up brand management subsidiary to expand the company's brand influence) and Semir apparel (34.03,0.000,0.00%) (long-term optimistic about the layout of children's related industry chain).

(2) from the policy point of view, the policy changes under the new normal economic situation will bring huge investment opportunities, focusing on the China Group (1449.15,0.000,0.00%), the concept of military industry, creating a sports tourism consumption mode, actively pforming to the modern service industry, and Jia Xinsi silk (10.69, -0.040, -0.37%).

In addition, we can pay attention to the target of benefiting cotton price stabilization.

(12.45,0.000,0.00%).