Textile And Clothing: O2O Theme Investment Promotion Plate Valuation Promotion

< p > according to market statistics, as of yesterday, there were 21 "a target=" _blank "href=" //www.sjfzxm.com/ "textile" /a "a target=" _blank "href=" _blank "> clothing" < > "listed companies disclosed the 2013 performance notice, and all of them were preoccupied, accounting for 27.27% of the listed companies in the industry, ranking second in 23 industries.

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< p > in specific terms, in the 21 listed companies, a href= "http://sjfzxm.com/news/index_c.asp" > the textile and garment industry < /a >, the number of listed companies has increased by 7, with a slight increase of 9, with 4 profit surpluses and 1 losses.

从这21家公司2013年净利润预增幅度来看，增长幅度在100%(含100%)以上的公司有4家，它们分别为：金飞达(12.76, -0.41, -3.11%)(900%)、孚日股份(3.97, 0.01, 0.25%)(750%)、华孚色纺(4.48, 0.00, 0.00%)(130%)、嘉麟杰(6.96, 0.16, 2.35%)(100%);增长幅度在30%以上(含30%)的公司有11家，它们分别为：美欣达(12.70, -0.01, -0.08%)(94%)、浔兴股份(8.34, 0.04, 0.48%)(80%)、梦洁家纺(15.39, -0.09, -0.58%)(60%)、美盛文化(25.90, 0.22, 0.86%)(35%)、江苏旷达(10.71, -0.18, -1.65%)(35%)、山东如意(7.65, 0.00, 0.00%)(30%)、伟星股份(9.33, 0.05, 0.54%)(30%)、兴业科技(11.50, -0.10, -0.86%)(30%)、富安娜(17.62, -0.48, -2.65%)(30%)、联发股份(12.85, -0.09, -0.70%)(30%)和华斯股份(16.11, -0.06, -0.37%)(30%)。

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< p > from the performance of the two tier market, some textile and clothing listed companies have rebounded strongly since October. In the 21 listed textile and apparel listed companies, 14 stocks that have won the Shanghai Composite Index since October have accounted for 70% of the total stocks (the same time the Shanghai Composite Index fell 1.88%), which accounted for 70% of the total stocks, of which 4 stocks were more than 10% or more. They were: Jin Fei Da (36.34%), Jiangsu broad-minded (23.47%), Luo Lai home textiles (22.15, -0.15, -0.67%) (11.33%) and Meng Jie home textiles (11.33%).

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The overall dynamic price to earnings ratio of the plate is 24.53 times, the overall market clearing rate is 1.94 times, and it ranks 12 or 15 in the 23 cases of the Shen Yi industry. Compared with other plate valuation, the overall price is lower than that of the other sectors. In the case of favorable performance, the sector will receive the valuation recovery market; the 21 companies have 7 new cities with the latest dynamic P / E ratios below 20 times, which are: Jiangsu broad-minded (19.45 times), fuanna (18.89 times), Roley home textiles (17.10 times), Xingye Technology (17.10 times), card Nu Road (17.10, 17.10), (Weibi), Weixing share (GB) and Luen Fat share (GX). < p > from the valuation point of view, as of yesterday's close, textile and apparel

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< p > it is worth mentioning that under the background of increasingly fierce competition in the textile and garment industry, the listed companies that take the lead in the realization of dual channel marketing pformation (i.e. O2O mode) online and offline are expected to stand out. The impact of O2O mode on A shares, a target= _blank href= href=, //www.sjfzxm.com/, and brand clothing < /a > plate is mainly divided into two stages: the first stage is the valuation improvement expected by the integration of online and offline channels, and the second stage is the performance improvement brought by the growth of the company's revenue scale after channel integration.

At present, the A share listed companies actively exploring O2O mode include: Pathfinder (14.210, -0.62, -4.18%), American bond a target= "_blank" href= "//www.sjfzxm.com/" > dress < /a > (13.87, -0.69, -4.74%), Fu Anna.

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< p > Oriental Securities said that the brand apparel industry fundamentals are expected to rebound in the first half of 2014.

At present, the terminal situation of brand clothing has not deteriorated continuously, and the industry has been actively promoting the inventory elimination, and the market has fully recognized and expected the current situation of the industry.

Judging from the adjustment process of the listed companies in Hong Kong stocks, sports brands and some men's clothing brands, the adjustment cycle from falling to rebound is basically 1.5 to 2 years. Considering the different attributes of the products, although the factors that cause adjustment have many similarities, it is estimated that the adjustment period of A brand clothing companies will be shorter than that of sports brands, and the industry fundamentals are expected to rebound in the first half of 2014.

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< p > in addition, since August this year, textile and garment sector has been gradually active and some stocks have risen substantially. The main reason is the relative advantage of underestimation of the industry and the wave of thematic investment (O2O mode). Ultimately, the future trend of the sector should be combined with changes in the Fundamentals of the industry. For the medium term, companies with clear online and offline strategies and progressively substantive progress should be actively concerned.

Optimistic about the earlier adjustment of the industry and the early resumption of the lahome textile and Semir apparel (27.36, 0.58, 2.17%); in addition, taking into account the development space of the subdivision industry, the company's own size and business base, and the integration of online and offline factors, more attention will be paid in the coming year: fuanna, Pathfinder and -0.11 (-0.45%, 24.29).

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