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Garment Industry: &Nbsp, And Nuggets.

2011/9/8 10:54:00 39

Clothing Industry Reserve Cotton Warehouse

No sector gains positive gains.

The top are SW building materials (-4.35%), SW pportation equipment (-4.32%), SW nonferrous metals (-4.32%), SW utility (-4.22%), SW mining (-4.14%).

The smaller plate is SW catering and tourism (-1.43%), SW

Commercial trade

(-2.91%), SW light manufacturing (-3.01%), SW food and beverage (-3.06%), SW agriculture, forestry, animal husbandry and fishery (-3.11%).

SW textile and clothing decreased by -3.59%.

From the sub sectors, SW textile fell 2.98% and SW clothing fell 4.28%.

Subject shares have been shown, and brand clothing has entered a period of adjustment after a good performance.

Recently, the China reserve cotton management company further announced the list of the first batch of reserve warehouses for cotton storage and storage in 2011.

It is further clear that cotton purchase and storage will be carried out in September 1st.

At present, the state cotton stocks are at the bottom. The purchase and storage may eliminate the impact of new cotton listing on cotton prices and make cotton prices bottoming up in the fourth quarter.

Cotton price decision 1/3 look at capital, 1/3 look at policy, 1/3 look at supply and demand.

Market demand is still one of the most important factors affecting cotton prices.

At present, the trend of debt crisis in Europe and America is still uncertain. The global economic downturn will inevitably affect consumption, and the entire textile industry chain will be under pressure.

It is estimated that the central price of cotton will fluctuate around 20000-23000 yuan per ton next year.

We will continue to focus on the introduction of the rules and the situation of funds.

Export oriented production

Manufacture

Type enterprises, we think that judging the prosperity cycle mainly depends on three factors: market expectations for raw material prices, inventory and actual downstream demand.

We see that cotton prices have stabilized since August 17th and have begun to pick up slowly.

With the new cotton listed, the state purchase and storage, cotton prices fell expectations are basically eliminated.

At present, the inventory of production enterprises is still much higher than that of last year, and it is expected that the inventory will be carried out to the four quarter.

In addition, overseas demand growth is slow.

We suggest that prudent wait and see for the export leading enterprises such as Lu Tai, Hua Fu color spinning [0.00 0% shares, and closely follow up the inventory and demand recovery process.

Once the industry boom rises, the cost increase will lead to intra industry differentiation, and orders will gradually be concentrated on leading enterprises. Leading enterprises may have investment opportunities in the four quarter.

For the apparel retailing industry, it is of high quality.

Brand retail

Enterprises in line with the trend of consumption upgrading and urbanization are our long-term promising sectors.

Among them, we are the first to promote the three major home textile enterprises, such as large space industry, high speed development, relatively fierce competition, high performance growth and firm performance, especially the [0.00 0% Share Market Research Report of Luo Lai Home Textile Co., Ltd., which suggests buying and holding for a long time. Another main line is a steady growth of value and low valuation enterprises, such as Semir apparel [0.00 0% shares, research newspaper, seven wolves, etc.

In the near future, the market continues to slump, the brand clothing sector has entered the callback period, we believe that falling is the best buy point.

Recommended for high quality brand retailers to buy and hold.