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Shenyin Wanguo: Men'S Clothing Industry Boom Is Expected To Continue To Improve.

2011/10/24 19:05:00 35

China garment industry

Prosperity index report shows that in the three quarter of 2011, the apparel industry in China

Gas index

It was 99.7 points, a slight rise of 0.1 points over the previous quarter, and the warning index of the clothing industry in China was 103.3 points, down 16.7 points from the previous quarter.

In the three quarter, the rise of the garment manufacturing industry was mainly due to the stable export tax rebate, the reduction of import tariffs on some textile raw materials, and the postponed implementation of the new national standard of textiles.

Specifically, in terms of external demand, according to customs statistics, from 2011 to September, the total export volume of textiles and clothing in China was $186 billion 139 million, an increase of 24.3% over the same period last year, and the growth rate decreased by 1.4 percentage points from 25.72% in the 1 to August in 1.

Among them, the export of textiles was US $70 billion 904 million, an increase of 25.9% over the same period last year. The growth rate dropped by 1.3 percentage points from 1 to August. The export of garments and accessories reached US $115 billion 235 million, an increase of 23.3% over the same period last year, and the growth rate dropped by 1.6 percentage points from 1 to August.

Peripheral demand

Dispirited

Textile industry orders are still not optimistic, and many small and medium-sized textile enterprises are facing.

Financing dilemma

The textile industry has declined in the second half of the year.

Domestic demand, 2011 1 to August, China

Quota

Above textile garments

Retail sales

For 480 billion 400 million yuan, an increase of 24% over the same period, the growth rate dropped by 0.2 percentage points from 1 to July.

Among them, the single month drop in August is more obvious, in August, the growth rate was 21.9% in August, and the growth rate was 2.2 percentage points lower than that in July.

7 and August are the traditional off-season garments.

It is expected that clothing sales will be good in September. On the one hand, it will fall into the autumn earlier this year. On the other hand, the supply chain system of garment enterprises has been continuously improved in recent years, and the supply is accelerated, so that autumn clothing will be listed earlier this year.

Clothing CPI reached 3.2% in September and has reached a new high this year. It is estimated that clothing prices will remain high in the fourth quarter to the first half of next year.

Looking forward to the four quarter and next year, we will continue to play a good role in the men's wear industry.

In August, the men's clothing industry increased by more than 30% in the spring and summer order meeting in 2012, and the growth rate is higher next year. So we continue to watch the men's clothing industry with strong ability to raise prices and stable customers.

We can comb out the 3 order meeting of the men's clothing industry: the 2011 spring and summer ordering in September 2010 will increase by about 20%; the 2011 orders in autumn and winter in March 2011 will increase by about 20% to 25%; in August 2011, the 2012 spring and summer orders will increase by about 30%.

At present, men's clothing industry is less expensive in the channel, and the franchisees are more motivated to get goods.

With the coming of October, the men's clothing listed companies will usher in the three quarterly announcement period.

It is estimated that the profit growth rate of the three quarterly report in 2011 is about 55%, and the three quarterly report of the seven wolves is expected.

Profit growth

About 45%, it is estimated that the earnings growth of the three quarterly report is about 40%. It is estimated that the three quarterly earnings growth of the three is 35%.

On the whole, it is estimated that the three quarterly performance of Listed Companies in men's clothing industry will still perform well and the growth momentum can be extended.

The men's clothing industry has gone through inventory from 2009 to 2010, and the inventory in the channel is relatively light. With the continuous improvement of design, fabric, service, store display and supply chain management, the leading strengths of all men's wear brand enterprises have been continuously consolidated. In addition, enterprises have constantly cut into the new market segments and continuously injected new vitality into the brand.

From the valuation point of view, the valuation of men's clothing is about 25 times that of 2011, and it is equivalent to the valuation of Hong Kong men's men's clothing enterprises. There is basically no risk of downvaluation.

Therefore, as a whole, we continue to be optimistic about the future market space of high and medium men's clothing, especially the high-end business men's clothing, which is strong in price increase, high in unit price, and insensitive to customers' prices.