Wan Lian Securities -- A Weekly Report On Textile And Garment Industry

[Abstract]

Market review: last week (June 22nd -6 24), Shen Wan textile and clothing index fell 1.88%, and Zhou Shenwan textile and apparel index lost 2.29 percentage points to Shanghai Composite Index. In shwan, the 28 industry index dropped twenty-sixth. Since the beginning of this year, Shen Wan textile and apparel index has dropped by 5.96%, running 3.64 percentage points off the Shanghai Composite Index, ranking twenty-first in the 28 sub sectors of Shen Wan. Two level sub plate, last week textile manufacturing -2.50%, clothing home textiles -1.56%; early to date textile manufacturing -7.93%, clothing home textiles -4.90%. The PE of the plate is estimated to be 23.88 of textile production and 36.60 of apparel home textiles. Three level sub plate, textile manufacturing last week, wool spinning -3.48%, cotton spinning -3.34%, silk -2.21%, printing and dyeing -1.80%, accessories -0.09%, other textile -2.22%; clothing home textiles, men's wear -0.50%, women's wear -2.96%, casual wear -1.67%, shoes and cap -2.34%, home textile -1.53%, other clothing -1.53%.

Important events in the industry: foreign countries: Corneliani formally filed for bankruptcy protection; Nike's 2020 fiscal year revenue dropped slightly, the Greater China region achieved double-digit growth; H&M second fiscal quarter pre tax loss of $700 million, the first loss in 10 years; earthmusic&ecology will withdraw from the Chinese market. China: 361 degree signing has become the official sportswear partner of the Hangzhou Asian Games; the 2019/2020 has not solved the overdue debts, or is unable to escape the delisting crisis; Bosideng's professional ingenuity is coming out again, and the 2019/2020 revenue is breaking through by billions of billions. The urban beauty is expected to lose at least 120 million in the first half of the year, and is still actively transforming.

The important announcement of the listed company: when the rights and interests of the Hai Lan family are allocated, the stock transfer is suspended continuously; the shares of the shares are issued in advance, convertible bonds are converted into shares; BILLIN has announced related transactions; Jiaxin silk shares repurchase; the shareholders of the Jie Jie holdings have reduced their holdings; the related transactions have been announced; and the risk warning of Baer's delisting has been made.

Risk factors: 1, the risk of repeated outbreak. 2, inventory rise and fall risk. 3, cash flow risk.