Core view
Market review: throughout the week, the CSI 300 index rose 0.82%, the gem index fell 5.59%, and the textile and garment industry index rose 3.14%, which was stronger than the CSI 300 and the gem index. Among them, the textile manufacturing sector rose 3.26%, and the brand clothing sector rose 3.04%. In terms of individual stocks, we have achieved positive returns in Chow Tai Seng Jewellery Company Limited(002867) , Zhejiang Semir Garment Co.Ltd(002563) and Hla Group Corp.Ltd(600398) .
Overseas highlights: (1) Pandora’s sales hit a record in the fourth quarter. (2) Hong Kong’s retail industry grew by 6.2% in December, with one-day disease breaking through thousands. The prospect of this year is bleak. (3) Columbia sports beat expectations in the fourth quarter, admitting weak sales in China.
Important information of industry and company: (1) Shanghai Jahwa United Co.Ltd(600315) : as of January 28, 2022, the company has repurchased 968400 shares through centralized bidding, and the proportion of repurchased shares in the total share capital of the company is 0.1425%. (2) Winner Medical Co.Ltd(300888) : as of January 31, 2022, the Company repurchased 3280091 shares of the company through centralized bidding transaction through the special securities repurchase account, accounting for 0.7691% of the total share capital of the company. (3) Lancy Co.Ltd(002612) : akabang, the company’s overseas holding subsidiary, issued the performance forecast for 2021 on February 10, 2022, and is expected to realize an operating revenue of about 848 million yuan, a year-on-year increase of 18.32%; The net profit was 72.4633 million yuan, a year-on-year increase of 729.18%. (4) Biem.L.Fdlkk Garment Co.Ltd(002832) : as of February 9, 2022, the total share capital of the company has increased from 550326712 shares on January 10, 2022 to 559584771 shares. The shares held by the company’s shareholders Xie Bingzheng and those acting in concert Feng Lingling and Xie Ting have been actively reduced and passively diluted by 1.05%.
Suggested sector combinations this week: Shenzhou International, Huali Industrial Group Company Limited(300979) , Zhejiang Weixing Industrial Development Co.Ltd(002003) , Anta sports and Zhejiang Natural Outdoor Goods Inc(605080) . Last week’s performance of Shenzhou and international sports: 6050% {0020%} and 6050% {0020%} 3000%} respectively.
Investment proposal and investment object
This week, the performance of CSI 300 and gem was significantly differentiated. The high growth track stocks with outstanding performance in 21 years continued the weak trend in 22 years, which dragged down the index performance and market sentiment. Due to the large adjustment range in the second half of 21 years and the current low proportion of institutional positions, the textile and garment sector performed relatively strongly in the recent index adjustment process. From a fundamental point of view, benefiting from the recovery of overseas demand, export manufacturing is still one of the few industries with high prosperity, and the leaders of subdivided categories are expected to continue the stable growth of performance in 22 years; For the brand clothing sector, there is a lack of catalyst for short-term terminal data. With the digestion of the high base, it is expected that the annual operating performance will show a trend of low before high, and there will be more structural opportunities in investment. For the whole year of 2022, our first choice is still the two deterministic tracks of high prosperity sportswear and great beauty (cosmetics and medical beauty). Among them, the sportswear sector recommends Li Ning (02331, buy), Anta sports (02020, buy), Huali Industrial Group Company Limited(300979) (300979, buy) and Shenzhou International (02313, buy). It is suggested to pay attention to Tebu International (01368, buy), Large beauty sector is optimistic about Proya Cosmetics Co.Ltd(603605) (603605, buy), Yunnan Botanee Bio-Technology Group Co.Ltd(300957) (300957, overweight), it is recommended to pay attention to Shanghai Jahwa United Co.Ltd(600315) (600315, overweight), Bloomage Biotechnology Corporation Limited(688363) (688363, Unrated) and Imeik Technology Development Co.Ltd(300896) (300896, buy). The traditional clothing sector recommends Zhejiang Weixing Industrial Development Co.Ltd(002003) (002003, buy), Bosideng (03998, buy), Zhejiang Natural Outdoor Goods Inc(605080) (605080, buy), Luolai Lifestyle Technology Co.Ltd(002293) (002293, overweight), Zhejiang Semir Garment Co.Ltd(002563) (002563, buy), etc. In addition, it is recommended to pay attention to Baoxiniao Holding Co.Ltd(002154) (002154, not rated), Biem.L.Fdlkk Garment Co.Ltd(002832) (002832, not rated), etc. Recently, the attention of the gold and jewelry sector has increased significantly, which may be mainly due to two reasons: on the one hand, the terminal consumption has maintained a high heat since new year’s day, and the market has expectations for the leading performance in the first quarter; on the other hand, the overseas uncertainty has significantly increased the fluctuation of gold price. We suggest that in the short term, we still pay attention to the manufacturing leaders with relatively certain performance growth, and moderately pay attention to the opportunities of undervalued gold and jewelry leaders.
Risk tips
The repeated global epidemic, the pressure of economic slowdown on China’s retail terminals, trade friction, cotton price and RMB exchange rate fluctuations, etc.
