Seven Wolves Strategic Transformation Of Textile And Garment Industry Performance Recovery

Among the clothing companies that have announced the results of the newsletter, except Pathfinder, Maison and three Home textile company The net profit of other companies has declined sharply. We believe that the impact of the consumer environment is larger than that of the enterprises themselves. In the context of industry adjustment, we recommend: 1) companies with clear transformation and upgrading, and those with continuous strength, such as Pathfinder (outdoor sports transformation + optimistic about their progress in ice and snow projects), Maison culture (big cultural industry layout and performance start to cash), precious birds (transformation sports leading), seven wolves ("investment + industry" platform strategic transformation), Semir apparel (transformation of children's industrial chain), and so on; 2) sub industries with moderate recovery, and companies with continuous concentration of industries, such as Luo Lai home textiles (smooth progress in restructuring and transformation), and fuanna (participate in the pilot project of reforming state owned enterprises in Shenzhen).

Seven wolves announced this week to participate in the establishment of the Qianhai reinsurance company. After its establishment of the consumer industry fund, they launched the investment field again. The investment plus industry strategy was accelerated. In addition, the group's background was strong. We suggested that we should pay close attention in the near future. At the same time, several companies that continued to push forward the transformation, such as the wedding bird (the 25% stake in the acquisition of the Ghost Network), Kai Reed (the 51% stake in the acquisition of Bao Bao), the 100 round trousers industry (investing in Qianhai Paton Xun), and investors' participation in visual style.

Performance Bulletin: Meng Jie home textile (net profit by 47.03%), Luo Lai home textile (20% to mother net profit), Xun Xing shares (mother to net profit increased by 30.15%), long Zi stock (return to mother net profit decreased by 48.6%), search for special (return to mother net profit down 55%), card Nu Di Road (2014 to mother net profit down 90%/2015Q1 to mother net profit 70%-90% down), Mei Bang dress (mother to mother net profit 64% decline), Busen shares (mother net profit 1820.16% decrease).

This week's stock portfolio. The combined increase in the previous period was 1.74%, and the combined transmission industry index was 2.63 percentage points. Stock pools this week: Roley home textiles (20%), Maison culture (20%), seven wolves (15%), Pathfinder (15%), Semir dress (15%), and noble bird (15%).

Last week's performance review. Last week, the Shanghai Composite Index, Shenzhen Composite Index and Shanghai and Shenzhen 300 rose by 4.16%/6.04%/4.75% respectively. Textile and apparel increased by 5.29%, of which textile manufacturing rose 5.37% and brand clothing rose 5.15%. The top three companies were Reed, seven wolf and Kaiser, and the top three companies were costumes, Semir and costumes.

Announcement of important company. A share listed companies: seven wolves (participating in the establishment of reinsurance companies), the wedding birds (the 25% stake in the acquisition of Ghost Network), Kerid (acquisition of 51% stake in Bao Bao), 100 round pants industry (invest in Qianhai); overseas listed companies: La Natsu Bell (investment online apparel retailer "seven grid"), Gap (Q4 sales growth 5%), Hermes (Q4 income growth 9.6%, growth slows down), Columbia (revenue rose 27% in 2014).

Important information in the industry. In January 2015, there were 50 key large-scale projects in China. Retail enterprises Clothing sales The amount dropped by 24.7%; in January 2015, the consumer price clothing of the whole country increased by 2.9%; risk suggests: 1) the consumption environment continued to slump; 1) the transition was slower than expected.