Textile And Apparel: In May, The Growth Rate Of The Textile Industry Increased By 4.1%.

Plate company quotes: last week, SW textile and garment sector rose 1.43%, and Shanghai and Shenzhen 300 rose 2.53%. At present, SW textile and clothing PE is 17.98 times, slightly lower than the average of nearly 1 years. Textile rose 3 this week. Clothing company They are: +19.57%, +12.85%, +11.13%, and the top 3 are: -6.96%, -6.02%, and -5.39%.

Important news in the industry: the total retail sales of consumer goods increased by 8.6% in the 1.5 months, and the textile and clothing grew by 4.1%. In 2.1-5 months, the export of textile products in China increased, and clothing declined. In May, the export of textile and clothing increased. In 3.5 months, the added value of textile industry increased by 0.7% over the same period; the cotton textile enterprises in 4.5 months report: the textile market is weakening, and the production and sales of the enterprises are decreasing; 5. the US Department of Agriculture: the global cotton inventory is up, and the output, consumption and trade volume are down.

Overseas companies tracking: 1. Temple library first quarter revenue rose 46.5%, GMV nearly doubled; 2.Inditex first quarter growth is expected, management stressed that the two quarter is a strong rebound; 3.Crocs will cut 2/3 of China made.

Company's important announcement: [Semir costumes] disclosure of investor relations activity record; [buyen Finn] repurchase shares completed; [Luo Lai life] by election director; [Shanghai San Mao] pre spanfer spanfer of Baoji Lingyun 65.44% stake; [nine herdwang] wholly-owned subsidiary of foreign investment; [inter China group] and the fire and Rescue Bureau signed a strategic cooperation service agreement; [wagnnasen] subsidiary received civil complaint; [start shares] terminate major asset reorganization; [Xinlong holdings] shareholders postponed the implementation of the holdings plan; [xiner] shareholders increased holdings.

Key news commenting: in May, social zero increased by 8.6% over the same period: the growth rate picked up from 7.2% in April, mainly due to (1) changes in holiday time. (2) the upward trend of food CPI promoted grain and oil food growth to speed up. (3) the policy of reducing taxes and lowering taxes strengthened consumer confidence. The total growth rate of 4~5 above the limit is about 3.3%, up from 3.2% in 1~2. In the spring and summer season, the increase of retail clothing retail sales increased by 4.1% in the spring and summer. Children's wear , Women's wear And making faucets.

Before May, China's textile exports increased and clothing declined: textile exports in May increased by 1.5%, while garment exports decreased by 5.5%, down by 2.2%. Textile exports grew by 3.8% in May, and garment exports increased by 1.9%. The US 300 billion tariff list affects the long textile production orders. In May, textile production and marketing declined, internal and external demand was dull, and the traditional off-season was ahead of schedule. It was suggested that the textile manufacturing industry spanfer and the layout of textile leading companies in Southeast Asia should be concerned.

Investment suggestions: holiday time change, food CPI, tax reduction and fee reduction jointly promote the zero growth in May. In May, the retail sales of textile products above the quota rose faster. Since the two quarter, policies such as lower base and tax reduction and tax reduction have been implemented step by step, or the retail sales growth will be improved. We suggest that we should pay close attention to the following main lines of investment: (1) the children's clothing Semir faucets with performance guarantee, and printing and dyeing leading civil aviation shares; (2) medium and long term performance is expected to repair the high-end high-end home textiles leading products; (3) the high-end female garment enterprises that are expected to benefit from the high-end consumer recovery, An Zheng, fashion (4) benefit from the electricity supplier's supply chain platform enterprise, Antarctic electricity supplier.

Risk warning: the 1. part of the industry does not achieve sales expectations; 2., the risk of declining performance of listed companies; 3., the risk of merger and acquisition assets is not up to the expected risk; 4., the implementation of promotional policies is not implemented or fails; and 5., there is uncertainty in Sino US trade relations.