Key investment points
The national epidemic is distributed in many places, and the impact of sub sectors is controllable as a whole
Since March, the epidemic has spread in many places across the country, and the prevention and control policies have become stricter. A few areas with serious epidemic have taken measures such as short-term traffic control, factory shutdown or closed management. Through relevant communication with the industry and companies, although the production and shipment of some subdivided tracks have been disturbed in a certain short term, the consumer demand is still relatively resilient. Considering that limiting traffic is only a temporary measure during the severe epidemic in some regions, it is judged that the impact of this round of epidemic control is comprehensive and controllable. In the early stage, with the overall adjustment of the market, the leading stocks of the light industry segment track have been in the value range in the medium term. It is suggested to start the layout. The preferred choice for the core mark is the first choice of the core mark. The first choice for the core mark is the first choice of the core mark. The first choice for the core mark is Oppein Home Group Inc(603833) 818 (14x in 22 years), Zhejiang Natural Outdoor Goods Inc(605080) (19x in 22 years) Shandong Yuma Sun-Shading Technology Corp.Ltd(300993) (22 years 18x) and other small and beautiful stocks.
Household demand is relatively rigid, and pattern optimization is the first α Faucet
We believe that the demand for home furnishings is relatively rigid. Through channel research, the current round of epidemic situation may delay the user's decision-making cycle and corresponding demand due to the restriction of the scale, but the prospect of passenger flow in the later stage is not pessimistic. According to the performance of this round of 315: (1) more activities are carried out in advance. At present, the predetermined growth target is generally better or exceeded, and the impact of the epidemic on flow storage is limited; (2) Leading brands should actively respond to and switch to online live broadcasting marketing activities, store customers in advance and lock orders, so as to open the gap with small brands; (3) There is no need to worry about the actual profit margin of the drainage package with good customer acquisition results, low price lock, passenger flow expansion and comprehensive transaction. Can judge the current round of faucet α Outstanding, and the share of advantageous enterprises is expected to increase rapidly under the background of the epidemic. Specific stocks include Oppein Home Group Inc(603833) (22 years PE 22x), Jason Furniture (Hangzhou) Co.Ltd(603816) (22 years 19x), Minhua Holdings (22 years 12x), Suofeiya Home Collection Co.Ltd(002572) (22 years 12x), Zbom Home Collection Co.Ltd(603801) (22 years 13X), etc.
Risk tip: the trade environment continues to deteriorate, the real estate boom fluctuates, the price of raw materials rises, the price of sea freight rises, and the impact of the epidemic intensifies.
