The Textile Industry'S Examination Results Are Gratifying &Nbsp; The Future Of The United States And The Happy Birds Is Expected.

With the end of the disclosure of Listed Companies in 2010, various industries have also handed over the "examination paper". What is the performance of the textile industry?

According to the statistics of wind data, Garment and textile industry There are 69 listed companies, of which only 39 are listed in the textile industry, but 7 in the textile industry have negative earnings per share and net profit attributable to shareholders of the parent company.

Low base growth year on year

textile industry recovery Perform well

In 2010, the key industries of the textile industry grew rapidly. 60% of the key companies had a net profit growth of over 30%, and net profit grew by 37% over the same period. In particular, the production performance of textile companies exceeded expectations. It should be said that the textile industry has reached a high level in recent years. Galaxy Securities researcher Ma Li told the Securities Daily reporter.

What causes the growth rate of the textile industry to accelerate? "This is mainly due to the poor performance of the textile industry affected by the financial crisis last year," the low base number ", the increase in exports this year and the expansion of domestic demand. Terminal demand The market is good, so it improves the performance of the textile industry. " Ma Li said.

According to statistics, the amount of textile and clothing exports increased by 22.9% in the 1-7 months of 2010 compared with the previous year. In the first half of the year, exports rebounded more than expected. "Therefore, the leading performance of manufacturing enterprises is generally over expected, and the growth rate of Lu Tai A, Huafu color spinning and Weixing shares is over 40%. Ma Li continued, "and another reason is that the recent rise in the price level, plus some inventory left by some companies, makes the company's profit level rising."

According to her analysis, among these, the performance of brand companies is steady growth, the growth rate of home textiles is 30-60%, and the growth rate of clothing is 30-40%. From the perspective of growth mode, home textile companies mainly rely on rapid extension and expansion. The number of net shops in the first half of the 3 companies accounted for 6-10% of the total number of stores. Garment companies rely more on endogenous growth and net profit growth resulting from the increase in gross margin. In the first half of the year, the number of new union stores increased more than 14% in the first half of the year, accounting for about 5% of the total number of [25.09 0.44%] net shops, and the total number of seven wolf stores remained unchanged at the end of 09, but the store structure was adjusted and the number of outlets increased.

The companies whose expected performance exceeds expectations is: Roley home textiles, news birds, Lu Tai A, Weixing shares and Pathfinder; the companies whose performance is lower than expected include: Meng Jie home textiles, Saturday, Jahwa, Shanghai.

According to statistics, the increase of about 30% or more companies: Fuan, Luo Lai home textile, Meng Jie home textile, Pathfinder, Mei Bang clothing, Saturday, old Fengxiang, Weixing shares and DACO Yang created the world. "Home textile companies benefit from demand recovery, listing dividends and other factors, and sales performance is good." According to the analysis, the United States through a series of more effective ways to ensure the rapid growth of Direct stores, such as thematic products and so on, joined the market to continue to recover under the support; on Saturday, due to the improvement of the quality of stores and the implementation of the cargo strategy, revenue has maintained a relatively rapid growth; jewelry consumption is the most powerful category after the crisis recovery, and the retail and wholesale business of Lao Fengxiang has been effectively developed; Weixing shares have benefited from the revival of exports and domestic sales, and the new production capacity has brought the expected performance of revenue.

The more stable growth is Saturday, Pathfinder and Lu Tai. The negative growth is *ST yuan FA, Xinhua Jin, Vico essence, *ST de cotton, ST Xinlong, ST Miya and San Mao Pai Shen.

Overall growth in the second half

But the growth rate will slow down.

For the textile industry's performance in the second half of the year, "we should continue to grow, but the growth rate will slow down." Galaxy Securities Ma Li said.

According to research and analysis, the three quarter net profit growth of higher and relatively low valuation of the company, may have a good performance. At present, the price earnings ratio of home textile companies is 44-48 times in 2010. From the growth of China Daily, Roley home textiles is the best performing company in the industry. Clothing companies corresponding to the 2010 earnings ratio of 30-36 times, there is room for growth. In the China Daily, the US and costumes announced the three quarter growth range, and the two companies' growth in the three quarter was higher than that in the two quarter. The performance of Smith Barney's clothing declined by 85% compared with the same period last year, but the company announced that its net profit in the 1-9 months increased by 0-20%. At present, it has low valuation, corresponding to 10 years PE is 30 times, 11 years PE is 23 times, three quarterly report is expected to increase 40-60%, annual growth rate is lower than 40%.

"It is expected that in the short term, the high growth rate of exports may still be sustainable in the 3 quarter, but it will slow down in the 4 quarter, and the growth rate of domestic retail sales will continue to stay above 20%. Benefiting from the strong demand in the first half of the year, the factors of low cost raw material inventory and price increase will increase considerably in the 2 and 3 quarters." Huatai Securities analyst also said.

However, the overall performance of the clothing and textile industry in 2010 still gave a satisfactory answer to the market. In the long run, the market will pay attention.