Analysis Of Textile And Garment Industry In The First Quarter Of 2012 And 2013

< p > < strong > > a target= "_blank" href= "//www.sjfzxm.com/" > textile > /a > a target= "_blank", "_blank" > "clothing" industry: revenue and net profit declined significantly last year, and recovered in the first quarter of this year.

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< p > 2012, the total operating income of Listed Companies in textile and apparel industry increased by 185 billion 297 million yuan, up 2.96% compared with the same period last year. Net profit attributable to parent company shareholders was 11 billion 456 million yuan, a decrease of 23.47% compared with the same period last year, and the growth rate was down compared with the same period in previous years.

Among them, the textile manufacturing industry listed companies operating income fell 1.28% in 2012, the net profit attributable to shareholders of the parent company was 55.20% lower than the same period last year.

Apparel home textile industry listed companies operating income increased by 6.90% over the same period in 2012, net profit attributable to shareholders of the parent company decreased by 6.10% over the same period last year.

In the first quarter of this year, under the impetus of export warming and other factors, the overall revenue growth and net profit growth of the listed companies in the whole industry rose year-on-year.

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"P > < strong > clothing home textile: consumption is low, revenue growth is generally lower than /strong > /p > < < /p >.

< p > in the first quarter of this year, in the case of domestic consumption downturn, the apparel home textile industry showed a downward trend of growth, and the performance of casual and men's clothing companies was generally lower than expected.

Industry inventory turnover slowed down compared with the same period last year, reflecting the inventory problem of the industry.

Although most of the "a" target= "_blank" href= "//www.sjfzxm.com/" > brand clothing < /a > the gross profit margin of home textile enterprises has been steadily improved, but the increase in expenses has led to a decline in net interest rates of some companies.

Rapid growth, Semir a target= "_blank" href= "//www.sjfzxm.com/" > dress < /a > slightly improved, the home textile industry is still lower than expected, the home textile industry is slowing down, fuanna and Roley home textile meet expectations, the growth of men's wear home textile industry is slowing down, the growth rate of men's clothing industry is slowing down, and the growth rate of the 2013 autumn and winter orders will generally decline. As a result of relatively low consumption, the annual growth rate of men's clothing enterprises may continue to decline. The high-end men and women's clothing and outdoor industries have maintained rapid growth, and a quarterly report is in line with market expectations. Men and women target= a _blank "href=" //www.sjfzxm.com/ "shoes" > industry growth is stable. The turning point of Saturday's operation has not yet appeared, and consumer brand awareness has promoted AOKANG international well. From the perspective of industry, the overall operation pressure of leisure wear industry is large, and the internal differentiation is obvious.

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< p > textile manufacturing: export rebate promotes textile enterprises' performance recovery, and textile manufacturing enterprises' income and export correlation are relatively large.

In the first quarter of this year, China's textile and clothing exports grew rapidly in the low base of last year, benefiting from the rebound in exports and narrowing of the difference between domestic and foreign cotton prices.

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< p > < strong > investment strategy < /strong > < /p >

< p > textile manufacturing sub sectors: textile export data continued to pick up in the first quarter of this year. The growth rate in March has dropped. It is expected that the annual export growth rate is expected to exceed the level of last year, while the difference between domestic and foreign cotton prices has narrowed.

Although domestic demand remains to be lifted and labor costs are higher, the valuation of the textile sector has been restored somewhat earlier than the beginning of the year.

It is suggested that we should pay attention to cotton textile leading A, Huafu color spinning, Baron East and cashmere products leading silver cashmere industry.

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< p > apparel home textile sub industry: in 2013 1-4, the major retail enterprises in China continued to show a low growth trend in retail sales.

From the 2013 autumn and winter ordering situation, the growth rate of orders will generally decline, especially in men's wear and casual wear industry.

We believe that if the terminal sales do not appear to be warmer, the growth of brand clothing enterprises' income and profit will decrease year by year.

Under such circumstances, it is recommended that companies with strong income and operational management capabilities be able to respond quickly to changes in market demand.

Such as: Pathfinder, Langer, and search for the first class.

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< p > < strong > risk warning < /strong > < /p >

< p > external market demand is low; domestic consumer confidence needs to be strengthened.

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