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Analysis Of Textile And Apparel Performance In The Three Quarter

2011/11/4 23:59:00 24

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Analysis Of Textile And Apparel Three Quarter Results

In the remaining two months of the year, our textile and garment industry

strategy

As follows: since the three quarter, the main textile and garment sector factors that the market has focused on are:

(1) three quarterly report

achievement

Is there any expectation or trap?

On the whole, most of the companies met expectations except for fuanna and seven wolves.

(2) is there any short term?

Catalyzer

Or highlights.

Spring and summer 2012

Order-placing meeting

Slightly lower than expected, the average growth rate is below 30%; especially the home textile sector, which is concentrated by the organization, has fallen sharply due to the lower expectations of the home textile ordering company.

Since October, there has been a rebound in the market as a result of policies turning to fine tuning.

We believe that under this background, the textile and garment sector is not the best choice under the rebound market because of its centralized holding and poor liquidity.

In October, the textile and garment sector rose 3.82% this month, losing 0.67PCT.

From the sales data of shopping malls, the negative impact of price increases on sales began to appear in August, and is still continuing.

At present, the valuation of the plate is about 27 times, compared with the historical valuation interval of 20-30 times, it does not have the attraction to maintain the "recommended" rating of the brand clothing sector, while maintaining the growth momentum of raw materials and labor costs.

Textile plate

"Neutral" rating.

We suggest that attention be paid to: 1, high speed.

increase

Industry and some companies.

For example, the explorers in the outdoor industry, the Fuyuan with a larger proportion of direct investment, and the silver cashmere industry with a higher price increase; 2, the undervalued varieties: 12 year old birds with a value less than 20 times; and 3, larger elastic varieties such as orient gold Yu.

At present, the market has begun to consider the valuation in 2012. We think that we need to pay attention to the future: (1) the conversion of the market style; (2) the single month growth of the brand clothing listed companies, the sales data of the stores; (3) the stock situation of the franchisees; and (4) the growth rate and the recovery situation of accounts receivable.