In January 2022, the online retail of clothing Amoy platform fluctuated. Under the dual catalysis of the recovery of consumption heat during the Spring Festival and the decline of temperature after the year, Q1 online sales are expected to recover gradually. In the context of the Winter Olympics, sports brands continued to increase investment in promotion, and sports head brands achieved good growth.
The overall retail of clothing fluctuated in January, and Q1 is expected to stabilize. In January, the sales of Amoy platform in women’s clothing market was 25.860 billion yuan, a year-on-year decrease of 26.6%. The sales volume of men’s wear market was 12.049 billion yuan, a year-on-year decrease of 22.9%. Men’s wear sales increased somewhat year-on-year, mainly due to tiktok and other platforms. Under the dual catalysis of the recovery of consumption heat during the Spring Festival and the decline of temperature after the year, Q1 online sales are expected to recover gradually.
In the context of the Winter Olympics, sports brands continued to increase investment in promotion and achieved good growth. Among them, Anta improved its reputation by sponsoring the sports robes of the Chinese team in the Winter Olympic Games. Its sales on the whole platform of Amoy reached 540 million yuan in January, with a year-on-year increase of 29.85%. In addition to the marketing of ice and snow sports, Li Ning also launched a new series of clothes with stronger fashion, which was recognized by consumers. The online sales reached 598 million yuan, a year-on-year increase of 36.01%.
Online sales of Volkswagen leisure and home textile sectors fluctuated year-on-year, and are expected to recover in the future. Among them, the total sales of Ningbo Peacebird Fashion Co.Ltd(603877) and Ningbo Peacebird Fashion Co.Ltd(603877) men’s flagship stores were 121 / 78 million yuan, the total sales of Senma and its children’s clothing brand balabalabala were 118 / 236 million yuan, and the sales of Hla Group Corp.Ltd(600398) was 87 million yuan. Affected by the high online base in the same period last year, the sales growth of flagship stores of various brands of popular clothing decreased to a certain extent year-on-year. In terms of home textile sector, online sales of Luolai home textile, Shanghai Shuixing Home Textile Co.Ltd(603365) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) and LoVo fluctuated year-on-year, with sales of 1.05/1.36/0.67/0.41 billion yuan respectively. In the future, with the continuous improvement of the brand power of leading companies, it is expected to recover gradually.
Under the current situation, we continue to pay attention to the targets with good performance. Popular casual wear is recommended Hla Group Corp.Ltd(600398) , Zhejiang Semir Garment Co.Ltd(002563) . Middle and high-end clothing recommendations Biem.L.Fdlkk Garment Co.Ltd(002832) , Bosideng, Dazzle Fashion Co.Ltd(603587) . In terms of sports clothing, under the background of high industry outlook and recovery of demand, we mainly recommend Hong Kong stocks Anta sports, Li Ning and Tebu international. The home textile industry Wuxi Online Offline Communication Information Technology Co.Ltd(300959) has a good growth. It is recommended to focus on Luolai Lifestyle Technology Co.Ltd(002293) , and it is recommended to pay attention to Shanghai Shuixing Home Textile Co.Ltd(603365) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) . In terms of upstream textile manufacturing, with the effective control of the epidemic at home and abroad and the stabilization of orders at home and abroad, the integrated footwear ODM manufacturer Huali Industrial Group Company Limited(300979) ; Shenzhou International, a manufacturing leader with perfect production capacity layout, is expected to grow steadily in the future. It is suggested to pay attention to Zhejiang Xinao Textiles Inc(603889) .
Sector review: Gem (1.03%), Shenzhen Composite Index (- 0.35%), Shanghai and Shenzhen 300 (- 1.67%), Shanghai Composite Index (- 1.13%). The textile and garment industry decreased by 0.42%, the textile manufacturing sub sector decreased by 0.67%, and the clothing and home textile sub sector decreased by 0.70%.
Announcement of key companies: Baoxiniao Holding Co.Ltd(002154) recently issued an announcement about the holding subsidiary providing guarantee for its subsidiaries. The holding subsidiary of the company, Shanghai BAONIAO Clothing Co., Ltd., plans to provide working capital loan, bank acceptance bill, letter of guarantee and other joint and several liability guarantee of no more than RMB 10 million to its subsidiary, Shanghai Yilite Clothing Co., Ltd Jiangsu Hongdou Industrial Co.Ltd(600400) recently issued an announcement on the transfer of minority shareholders’ equity and related party transactions of Wuxi Hongdou sportswear Co., Ltd. Jiangsu Hongdou Industrial Co.Ltd(600400) plans to invest 8.8724 million yuan to transfer the minority shareholders of Wuxi Hongdou sportswear Co., Ltd. (Jiangsu Hongdou International Development Co., Ltd.), a holding subsidiary Jiangsu General Science Technology Co.Ltd(601500) holds 40% equity of sportswear company in total (corresponding subscribed capital contribution of 40 million yuan and paid in capital contribution of 5.6 million yuan).
Risk factors: the epidemic situation is uncertain, and the consumption recovery is less than expected
