State Securities: Hot Spots Of Textile And Garment Sector This Week (Recommended Stocks)

　 Textile and apparel industry research weekly textile and garment industry Investment Weekly "

　　 Investment suggestion

Short-term Textile and garment sector In the absence of catalyst, we believe that the focus of next week's textile and garment sector will still be concentrated on sub shares, the recent implementation of refinancing stocks, and the export enterprises that are expected to bring short-term trading opportunities to export data. We suggest that we pay attention to stocks: Weixing stock (002003 shares), Huafu color spinning (002042, stock bar), search for (002503, stock bar), Hinur and Lu Tai A; we are still optimistic about the development prospects of the textile and garment retail sector, and always suggest that the seven wolves, Weixing, good bird, Luo Lai, fuanna (002327, stock bar) and Meng Jie, which have excellent performance and high reliability, should always be advised to take the medium and long-term investment strategy of buying and holding, and cotton prices have rebounded after rapid decline, but we believe that there will still be room for reducing cotton prices in the future. As cotton prices have great impact on the prices of polyester, viscose and spandex, we believe that investment opportunities for polyester, rayon and spandex related enterprises are yet to come. We expect cotton prices to stabilise in the 2 quarter of next year, when investment opportunities may come. A week's report goes back to Hinur (002485, stock bar) - steady expansion is in line with the development of the positive market. The male garment market will maintain steady growth in the future, and the brand position of the company is basically established. We believe that the company is a sound business enterprise, and the stable development strategy is in line with the development of the market and the company itself. Our Forecast Ltd 2010-2012 years EPS were 0.713 yuan, 0.927 yuan and 1.195 yuan respectively, giving the company 35-40 times PE for 11 years, and a reasonable price range of 32.45 yuan -37.08 yuan in the future, giving the company a buying rating. The export data in advance in the second half of 10 years are expected to be prepared ahead of schedule. - November export data review. Before November, textiles increased by 29.6% compared to the same period in November, and the increase in clothing before November was 21.2% year-on-year. The main reason for the above expectation is the anticipation of raw material prices, inflation expectations, rising labor costs, and the anticipation of the expected appreciation of the renminbi. Sharp fluctuations in raw material prices affect the operation of enterprises, but accelerating the integration of industries, large and medium-sized enterprises have the advantage of capital, can store a large amount of raw materials, and export orders are also concentrating on large enterprises. Therefore, we expect that the export oriented large enterprises are expected to grow in the next year. We propose to pay attention to Lu Tai A and Huafu color spinning. At present, the valuation of Lu Tai 13 times PE and Hua Fu color spinning 20 times is not high, especially Huafu color spinning has launched a refinancing scheme. Refinancing will help the company to further expand its capacity and make full use of industry integration opportunities to seize market share. Prices of raw materials fluctuate this week. We expect that the rise in international crude oil prices next week will drive the price of polyester products to stabilize after the fall in prices. Viscose and spandex will fall less than cotton, and may continue to fall in the future. Cotton prices have gone through the previous slump and have been repeated over the past 26000 yuan recently. This trend is in line with our judgement: the main factor of the rise in textile raw materials price is liquidity, and the price of raw materials is not easy to return to reason, similar to that of the 04 year unilateral fall.