Textile And Garment Industry Weekly: Recovery Of Textile Manufacturing Industry

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< p > 1, on Monday, we released the in-depth report of textile manufacturing: < a href= "//www.sjfzxm.com/news/index_c.asp" > textile manufacturing > /a > at the worst time, and export is expected to have a resumption of growth.

In the short term: export structural recovery, textile and garment exports in February increased by 70% over the same period, and the steady trend in 13 years is clearer.

At the same time, with the steady growth of production capacity, narrowing of the difference between inside and outside cotton prices, and high priced stock cotton digestion, it is expected that the operation will be improved.

In the medium and long term: the textile industry will enter the era of "high cost and low growth" in the future, and resources will further concentrate on large enterprises.

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< p > February export figures exceeded expectations: the global economy accelerated recovery, especially the US economy was better promoted. In February, textile a href= "//www.sjfzxm.com" > clothing export < /a > a sharp increase of 69.6% over the same period last year.

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< p > 3 in February, 50 large retail sales increased by 7.7% over the same period last year, and sales growth resulted from the promotion of price reduction and inventory clearance measures: in 1-2, the number of major retail enterprises in China increased by 7.7% compared with the same period last year, and the growth rate of clothing retail sales was 6%, an increase of 1.1 percentage points over the same period last year.

Retail sales grew by 8.5%, and the overall average price fell by 2.5%.

In February, CPI rose 3.2% over the same period last year, slightly exceeding market expectations.

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< p > 2, company tracking: < /p >

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< p > 1: investigation of the card slave Road: the recent sales are good, and the direct sales are expected to increase by more than 30%.

Our order is expected to increase by about 25%.

At the same time, there are four new business plans for Macao business, volume business, Hengyang new business and Hangzhou business this year. It is expected that the revenue will be increased by about 200 million yuan.

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< p > > Luo Lai terminal tracking: Nantong region has greatly promoted sales and has increased by 20% compared to the same period in March 6th. At present, some of the best sellers need replenishment.

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< p > > seven wolf tracking: it is estimated that the revenue growth rate will be around 18% this year in 1 and February. As a result of the 2012 Spring Festival in February, the Spring Festival sales will be concentrated at the beginning of the year.

So in the case of low base, sales in 1 and February are still flat. We expect a quarterly net profit growth of less than 20%.

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P > EPS annual report: EPS in 2012 was 0.44 yuan, down 29.75% compared with the same period last year.

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< p > last week textile > a href= "//www.sjfzxm.com" > clothing plate < /a > stronger than the market.

Textile and clothing index fell 1.35%, relative to Shen Wan A index rose 0.62%.

Among them, the textile manufacturing index fell 0.47%, relative to Shen Wan A index rose 1.51%; clothing home textile index fell 2.17%, relative to Shen Wan A index fell 0.20%.

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< p > industry basic data < /p >

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< p >: 1. In 1-2 months, the retail sales of 50 large retail enterprises increased by 7.7% over the same period last year, of which the growth rate of clothing retail sales was 6%, up 1.1 percentage points over the same period last year.

The retail sales of clothing increased by 8.5% over the same period last year, and the growth rate was 4% higher than that of last year.

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< p > February, exports of textile and clothing increased by 69.6% over the same period last year.

Textile exports grew by 38.1% compared to the same period last year, and clothing exports increased by 94.4% over the same period last year.

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Last week, the price of cotton and chemical fiber mixed with each other: the domestic 328 class spot market closed at 19344 yuan / ton last week, up 0.1%, and Zheng cotton's main contract reported 20250 yuan / ton, up 2.1%.

Polyester staple fiber dropped slightly at 11100 yuan / ton, viscose staple fell 0.1% to 14980 yuan / ton, polyester chip fell 3.3% to 10400 yuan / ton.

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< p > General: export data exceed expectations and focus on recovery of textile manufacturing industry.

Brand clothing: from the data of 50 in 1-2 months, the average sales price of clothing sales has dropped by 2.5%, and sales promotion has led to 8.5% sales growth.

We judge that the apparel industry is still in the process of clearing stocks in the first half of the year, and it is expected that home textiles will take the lead.

Textile manufacturing: thanks to the accelerated recovery of the global economy and the promotion of the US economy, the export of textile and clothing increased by 69.6% in the same period in February. Excluding the influence of the Spring Festival, the total textile and clothing exports in 1-2 months increased by 31.8%, exceeding the market expectation.

At the same time, with (1) the recent increase in cotton prices is around 10%, the difference between domestic and foreign cotton prices has gradually narrowed.

(2) after a year of digestion, the problem of high inventory cotton in textile manufacturing enterprises is gradually solved.

We expect that the textile industry will improve its operation.

Investment target: Shanghai's Jahwa, which continues to recommend enough growth power, and resilient home textiles with larger resilience.

More than expected export focus can focus on textile manufacturing leader Lu Tai A, Huafu color spinning, Baron East, Weixing shares.

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