Textile And Garment Industry: Consumption Pressure, And The Direction Of Plate Allocation

Investment points

In January 21st, we will disclose the zero data of December, considering the terminal retail situation of 18Q4 of various enterprises. The social zero number is hard to say, optimistic, superimposing the high base effect of Q1 consumption in 18 years, and the trend of consumption trend is expected to continue for several months.

Under the background of the weak macro consumption, the areas worthy of attention are:

(1) the new retail sector (20%+), which still maintains a relatively high growth rate, is worthy of sustained attention based on efficiency improvement. The representative stocks are Antarctic electricity supplier, kaarun shares and so on.

(2) the market has already fully anticipated the weakening of consumption, thus giving us the opportunity to configure the stocks with A-shares under the support of the undervalued dividend, such as the January gold share of the Soochow fashion (5%+ dividend rate and the performance growth rate of the 19 year Q1&19).

(3) the continuous upgrading of the quality manufacturers represented by Shenzhou International in the big brand supply chain is the biggest trend change of the manufacturing sector in the past. The manufacturing leader of the overseas layout has begun to take shape and will occupy the competitive edge in the changing environment of the trade. We are constantly optimistic about the manufacturing leader with the global production capacity.

Risk warning: macroeconomic growth slows down terminal consumption, and raw material prices fluctuate.