Textile And Apparel Industry Boom &Nbsp Stabilized; Brand Clothing Investment Time To

　 Industry boom

Spin clothing Production boom is beginning to stabilize. In 2011 1-11, the yarn production of textile and garment enterprises above designated size increased by 12.46% compared to the same period last year, and the output of cloth increased by 13.25% compared with the same period last year. The clothing output increased by 8.52% over the same period last year, and the value of the same period last month was 11.82%, 13.40% and 9.43%. In 2011, the added value of textile industry increased by 8.3% compared with the same period last year, rising 0.5 points in the same period, increasing by 12.7% in December and 2.6 points in the same month.

　　 Raw material prices rose slightly

Cost support, planting intention decline and purchasing and storage factors, cotton prices rebounded. The price of 2011-01-19 national cotton 328 has climbed to 19196 yuan / ton, 195 yuan higher than the current low point; the international cotton price cotlookA (FE) 2010-1-18 is 102.65 cents / pound 4.5% higher than the current low point.

　　 Terminal prices continue to rise

Terminal price, 1-11 months in 2011, China exported textile and apparel to the United States. Unit Price 1.62 US dollars / square meter, up 9.43% compared to the same period; the shopping mall retail price of 378 yuan / piece in 1-10 months, up 18.38% year on year.

Export growth rate down

Lewis's turning point is approaching, and East Asian countries have strong exports. In the 1-12 months, the export volume of textiles and clothing was US $247 billion 900 million, an increase of 20% over the same period last year, and the growth rate decreased by 1.2 points. The top 10 countries exporting to the United States had positive growth in November only in India, Vietnam and Indonesia.

　 Domestic garment sales growth rebounded in December

50 key shopping malls in December 2011 retail The volume grew by 21.4% over the same period last year, and the growth rate rebounded, which was 3.8 percentage points higher than that of the same period last year. Growth factor shows that the growth of clothing retailing is shifting from price to quantity. Retail sales continued to grow at a low digit figure in 2011.

　　 Brand clothing investment is coming.

Combined with price and sales volume, we maintain the 1Q industry's profit growth. Brand clothing has been gradually adjusted to the advantage of valuation. As of 2012-01-19 brand clothing PE (TTM) 21.58 times, less than 25.36 times the small and medium-sized board. Judging from the valuation history, in October 2008, the valuation of brand clothing was 55% higher than all A shares, which is currently 63% higher than that of the total. Specialization and cultural precipitation remain the focus of investment in brand clothing. A company with a continuous brand culture and a sound sense of social responsibility will still be the first choice for investment: "loving family" concept, "Hi culture" and Wolf Totem will continue to upgrade the art and cultural concepts of new and old customers, and promote continuous growth of the company.