2016 Is Still A "Hot Water" Year For The Clothing Industry.

Over the past year, for the traditional

The industry is still a "hot water" year, including

Costumes, and so on.

The performance of men's and women's wear has declined to varying degrees.

The industry believes that in the case of internal and external demand has not yet fully improved, the 2016 should still be dominated by a sound investment style, with a focus on companies with cross-border pformation plans.

11 companies' net profit "double down"

According to Wind statistics, as of yesterday, a total of 35 clothing listed companies in Shanghai and Shenzhen two cities announced the 2015 annual report, of which 16 net profit fell, accounting for nearly 50%, including 11 of the 11 companies, such as the long group and the American Apparel Company.

In the past, the "first clothing brand of domestic clothing" was the first loss in the past 7 years.

The United States apparel announcement shows that in 2015, its operating income was 6 billion 295 million yuan, down 4.92% compared to the same period last year. Net profit was -4.32 billion yuan, a sharp decline of 396.57% over the same period last year.

Like American Apparel, last year's net profit fell by more than 300% with Jialin Jie and Sala shares.

Last year, LOSA lost 20 million 683 thousand and 100 yuan, up from 1 million 958 thousand and 700 yuan.

Sha Sha shares said that the textile and garment underwear sub industry to capacity, inventory and industrial products prices history has 46 consecutive months of double decline in the same period last year, the company's operating conditions in 2015 has not yet been out of the woods, operating income declined.

At the same time, the company made a loss in asset impairment, resulting in a loss of profits.

Jialin Jie's net profit in 2015 was -1.01 billion yuan, down 465% compared to the same period last year.

In addition to the market downturn, the company's sales orders decline, Jialin Jie losses also include the report period, the company's new production base early investment is larger, before the formal production, the scale effect is not yet reflected.

A large number of companies increase their performance.

Although the textile and garment industry also has many good growth companies, we can find out that many companies' profit points are not in the main business, some rely on asset restructuring, and some are by selling assets.

OTCA realized a net profit of 223 million yuan in 2015, an increase of 1847.59% over the same period last year.

The company said that a major change in its performance was mainly due to the implementation of a major asset restructuring in May last year, the issue of shares to acquire all the shares of Amperex Technology Limited in Nanjing, and the acquisition of AITSL.P and its subsidiaries in the fourth quarter last year.

In 2015, he made a profit of 1 billion 13 million yuan, 108 million of which came from the sale of shops in Beijing.

Busen shares, which grew 111.17% year-on-year in net profit, sold half off wholly-owned subsidiaries at the end of last year, bringing a profit of up to 45 million 383 thousand and 700 yuan.

With the largest market value of the A share apparel industry, Hai Lan's home has a net profit of 2 billion 953 million yuan last year, an increase of 24.35% over the same period last year, much less than the 75.8% increase in 2014. At the same time, the company's ending inventory was 9 billion 580 million yuan, an increase of 3 billion 493 million yuan from the end of last year, an increase of 57.4%.

Inventory turnover days were 298 days, up 39 days from last year.

The main reason for the increase in inventory turnover is the expansion of the company's business scale and the increase in stocking. The warm winter weather in 2015 led to the unexpected sales and the early preparation of some products in spring and summer in 2016.

Industry investment style is still dominated by stability.

From a quarterly report, a total of 28 apparel A share listed companies have announced quarterly reports. There are still 11 net profit declines, and the decline of modern Boulevard and Busen shares is over 100%. The company's decline has been more than 20%, such as song's, Hua's share, Saturday and Pathfinder.

According to the China National Business Information Center, in the first quarter of 2016, the retail sales of clothing commodities of hundreds of major retail enterprises in the whole country decreased by 5.1% compared with the same period last year, and the growth rate dropped by 9 percentage points over the same period last year. The retail sales in March dropped by 3.8% compared with the same period last year, a decrease of 0.7 percentage points from the same period last year.

Retail sales of domestic demand declined.

In terms of external demand, the export data of clothing in 2016 and March showed a sharp decrease compared with the same period last year.

Yi Huaqiang, an analyst at Huarong securities, said: "in 2016, we should still focus on a sound investment style, with stable performance support as the guarantee, and focus on companies with cross-border pformation plans.

It is suggested that companies with strong performance and low valuation should be concerned about leading enterprises, sub shares and cross-border enterprises.