Textile And Garment Industry: The Embarrassing Prospect Of Raw Materials And Products

　　 Brand industry In the golden investment period, we firmly believe in local excellence. Popular brand Have brilliant prospects. According to the development of clothing brand in the United States, with the rise of domestic economy and the enhancement of local brand operation capability, local mass brands have great potential. Emphasizing economic transition Against this background, more brand targets will be listed in the next 2-3 years, and the brand industry will face a very good long-term layout opportunity.

Brand clothing industry: sales remain strong, brand price increases busy. Fourth quarter clothing consumption gradually shows the characteristics of the peak season, and this winter is likely to appear "extremely cold", for winter clothing sales is also a favorable stimulus. At the same time, most Brand Company's orders will grow faster, providing a guarantee for the fast growth next year. The cost of raw materials has risen sharply, and the market based brand clothing companies have the ability to raise prices. Maintain the recommended rating of brand apparel industry.

The valuation of the brand clothing industry: through the international and Hongkong Brand Company empirical research, PE is highly correlated with growth. It is usually possible to give a valuation of PEG greater than 1, which is more common in 1-2 intervals. At present, the relatively fast development companies in China are generally growing at around 30%-40%, and 30-40 times the valuation of such companies is very reasonable. At the same time, the valuation of domestic companies will also be differentiated in the future. Production industry: high cotton prices pose a great challenge to the operation of the industry, and exchange rate fluctuations are troubled by enterprises' orders. As of September, the export growth rate of textile and garment industry has gradually recovered from the crisis. The fourth quarter, accompanied by the rising cost of raw materials, uncertainties in the European and American economies, rising labor costs and currency appreciation, made the expectations of export enterprises mostly pessimistic. Maintain "neutral" rating.