PPE

Textile and garment industry: embarrassing prospect of raw materials and products

the brand industry is in a golden investment period, firmly believe that the excellent local mass brands have brilliant prospects. According to the development of clothing brands in the United States, with the rise of domestic economy and the improvement of the operation ability of local brands, local mass brands have great potential. Under the background of emphasizing economic transformation, more brand targets will be listed in the next 2-3 years, and the brand industry is facing very good medium and long-term layout opportunities

brand clothing industry: sales are still booming, and brand prices are increasing. Clothing consumption in the fourth quarter gradually shows the characteristics of peak season, and this winter is likely to be “extremely cold”, which is also a favorable stimulus for winter clothing sales. At the same time, the order growth of most brand companies will be good, which provides a guarantee for the rapid growth of next year; The cost of raw materials has risen sharply, and brand clothing companies with market base have the ability to raise prices. Maintain the investment rating of “recommended” brand clothing industry

discussion on the valuation of brand apparel industry: through the empirical research of international and Hong Kong brand companies, PE is highly correlated with growth. The value of PEG greater than 1 is usually given, which is more common in the range of 1-2. At present, the performance of domestic companies with relatively rapid development is generally about 30% – 40%. 1t is very reasonable for such companies to give a valuation of 30-40 times. At the same time, the valuation of domestic companies will also differ in the future.? Production industry: high cotton price poses great challenges to industry operation, and exchange rate fluctuation puzzles enterprises to receive orders. As of September, the export growth of the textile and clothing industry has gradually recovered from the crisis. 1n the fourth quarter, with the rising cost of raw materials, the uncertainty of the European and American economy, the rising labor cost, the appreciation of the local currency and other issues, the expectations of export enterprises are mostly pessimistic. Maintain a “neutral” rating

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