Core view
This week’s special topic: the Winter Olympic Games will drive the upsurge of ice and snow sports, and the sports equipment market is expected to expand: (1) the Beijing Winter Olympic Games will promote the prosperity of ice and snow sports consumption. The unprecedented heat of the Beijing Winter Olympic Games has driven the growth of consumption of ice and snow tourism, peripheral products and sports shoes and clothing. (2) The ice and snow sports crowd has a broad penetration space, and the sports equipment market is expected to continue to grow. With the support of policies, ice and snow sports venues have increased year by year, and ski trips have increased significantly, but there is still much room for improvement in penetration and sports stickiness. (3) Chinese enterprises accelerate the layout of ice and snow sports market. Chinese enterprises actively layout through the improvement of product strength, brand strength and the acquisition of high-quality assets. In the long run, there is a broad space for market expansion.
Investment strategy in 2022: seek “progress” in “change” and take the lead in subdividing leaders. Furniture: focus on domestic market channel reform opportunities. Among them, it is recommended to pay attention to Oppein Home Group Inc(603833) , Suofeiya Home Collection Co.Ltd(002572) , Zbom Home Collection Co.Ltd(603801) , Goldenhome Living Co.Ltd(603180) for customized furniture; For finished furniture, it is suggested to pay attention to Jason Furniture (Hangzhou) Co.Ltd(603816) , Qumei Home Furnishings Group Co.Ltd(603818) , etc. Papermaking, packaging and printing: subdivide the track pattern and optimize the strong. It is recommended to pay attention to Shandong Sun Paper Co.Ltd(002078) , Shanying International Holdings Co.Ltd(600567) , Xianhe Co.Ltd(603733) , Quzhou Wuzhou Special Paper Co.Ltd(605007) , Chongqing Baiya Sanitary Products Co.Ltd(003006) , Hangzhou Haoyue Personal Care Co.Ltd(605009) , etc. Entertainment and jewelry sector: the consumption upgrading continues and the prosperity rises. It is recommended to pay attention to Shanghai M&G Stationery Inc(603899) and Chow Tai Seng Jewellery Company Limited(002867) . Retail of home building materials: professional home building materials stores are still dominant, and digital and high-frequency consumption empowerment have become the mainstream. It is suggested to pay attention to Easyhome New Retail Group Corporation Limited(000785) , Red Star Macalline Group Corporation Ltd(601828) leading in digital transformation. Textile and clothing: the trend of national fashion continues, and there are good opportunities for sports shoes and children’s wear. It is suggested to pay attention to Anta sports, Huali Industrial Group Company Limited(300979) , Zhejiang Semir Garment Co.Ltd(002563) , Winner Medical Co.Ltd(300888) , Bosideng, etc.
This week’s market review: this week, the Shanghai Composite Index rose 0.8%, and the light manufacturing industry rose 0.62%, slightly underperforming the market. The textile and garment industry rose 1.63%, slightly outperforming the market. Among them, the paper sector rose 0.78%, the packaging and printing sector fell 0.69%, the home sector fell 0.47%, the entertainment light industry sector rose 4.5%, and other light industry sectors rose 1.96%; The textile manufacturing sector rose 2.23%, and the clothing and home textile sector rose 0.84%. This week, the top three increases of light industry manufacturing industry were Yotrio Group Co.Ltd(002489) (24.62%), Kangqi shares (15.04%), Guangdong Songfa Ceramics Co.Ltd(603268) (14.88%), and the top three decreases were Xiamen Jihong Technology Co.Ltd(002803) (- 11.09%), Jiangshan Oupai Door Industry Co.Ltd(603208) (- 10.09%) and the great wall of Culture (- 8.33%). The top three increases in the textile and garment industry this week were Zhejiang Weixing Industrial Development Co.Ltd(002003) (16.77%), Zhejiang Golden Eagle Co.Ltd(600232) (16.06%), Anzheng Fashion Group Co.Ltd(603839) (14.13%), and the top three decreases were Huasi Holding Company Limited(002494) (- 14.64%), Zhe Jiang Taihua New Material Co.Ltd(603055) (- 6.27%) and Li Ning (- 4.96%).
One week key data tracking: the price of dissolved pulp in this week was 7100 yuan / ton, unchanged from last week. The average market price of whiteboard / paperboard / carton board increased by 12 / 50 / 6 yuan / ton to 4947 / 6220 / 4941 yuan / ton respectively compared with last week, and the prices of other papers were flat compared with last week. Bleached coniferous pulp: Ma Pai (Canada) 890 US dollars / ton, up 22% from last week, and the external quotation of other pulp species was flat from last week. The number of commercial housing transactions in 30 large and medium-sized cities this week was 24345, down 9% from last week; This week, the transaction area of commercial housing in 30 large and medium-sized cities was 2.92 million square meters, down 3% from last week. Spot cotton: this week, China’s cotton price index: 328 was 22727 yuan / ton, up 82 yuan / ton from last week; Cotlook: a index: 1% tariff was 21208 yuan / ton, down 131 yuan / ton from last week; Cotton futures: the closing price of cotton futures on the Zheng stock exchange this week was 21990 yuan / ton, down 155 yuan / ton from last week.
Risk warning: the price of raw materials fluctuates sharply; Risk of sluggish terminal demand; Exchange rate fluctuation risk.
