2013 Textile And Garment Industry Is Expected To Increase Downward

< p > in the < a target= "_blank" href= "//www.sjfzxm.com/" > clothing < /a > terminal consumption, the first half of 2013 continued the weaker trend in 2012.

Affected by this, in the first half of the year, the clothing and home textile industry lost 300 of the Shanghai and Shenzhen stock market by 3 percentage points.

But sales of clothing are slower than those of the same period last year. We expect that with the arrival of the peak consumption season in the second half of this year, terminal consumption is expected to be better than the first half.

At the same time, in addition to the impact of the economic environment, we believe that the underlying reason for the slowdown in consumption is that consumers' pursuit of "high price performance" and "fashion" is hard to be satisfied by the existing brands. Online shopping and fast fashion are rising rapidly under this background; and the future of the development of < a target= "_blank" href= "//www.sjfzxm.com/" > brand clothing "/a" lies in facing the pformation and reform of the "SPA" mode: facing the consumers, shortening the supply chain, and positioning the unique novelty.

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< p > < strong > the performance growth rate of the company will further slow down in the second half of the year < /strong > < /p >

< p > since 2012, < a href= "//www.sjfzxm.com/news/" > clothing brand < /a > growth mode has encountered bottlenecks, performance growth has slowed down, financial situation has deteriorated, facing the pformation of mode.

We believe that in order to achieve the pformation of the growth mode, we should make full use of the online and direct business information advantages at the present stage, take the consumer as the guide, reduce the distribution of intermediate profits through the flat channel, strengthen the channel control by the terminal operation, and integrate the supply chain to improve the market reaction speed.

Although the pformation is imminent, but not overnight, so the brand performance in the short term will still be under great pressure.

And from the brand's 2013 autumn and winter ordering situation, the company's performance growth rate continued to slow down in the second half of the year.

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< p > < strong > recommended "space big", "impact small", "pformation easy", "high quality" of the subject < /strong > /p >

< p > we choose the investment target through four dimensions: development stage determines growth space, < a href= "//www.sjfzxm.com/news/index_c.asp" > international brand < /a > and online shopping impact degree determines short-term performance, difficulty of pformation determines who break through first, Du Bangfen analysis Screening profitability and asset quality is better or improved.

Finally, in the four dimensions, we selected representatives of high-end apparel representing the direction of consumption upgrading, less impact and profitability, representing the group of "long" and "Nu Di Lu", who still have much room for growth, and can also maintain their influence through online channels.

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< p > < strong > maintain industry "recommended" rating < /strong > /p >

In the second half of 2013, terminal consumption is hard to pick up. The pformation of listed companies still needs long-term practice. In the short term, it is still facing the pressure of further slowing down of performance. Therefore, in the second half of the year, the a href= "//www.sjfzxm.com" > clothing home textile < /a > plate is still difficult to have trend machine.

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< p > but with the arrival of the peak season of consumption in the second half of the year, we expect that terminal consumption will be slightly better than the first half of the second half of the year. Especially after a period of adjustment, the quality of assets is improving in the process of conscious pformation of listed companies. We believe that the market pessimistic expectation has been released with the release of orders and other data. The second half of this year has underestimated and expected upward opportunities, and the market performance will be better than the first half.

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