Main points
Papermaking:
The paper sector as a whole showed a downward trend this week. In terms of pulp, the price has a callback trend, and the major downstream paper manufacturers still hold a wait-and-see attitude. In terms of waste paper, the price of domestic waste paper has increased, and the price of box board paper has increased simultaneously. In terms of cultural paper, affected by the outbreak of the epidemic all over the country, although the price of cultural paper tends to rise, there is some uncertainty in the future. It is suggested to pay attention to: Winner Medical Co.Ltd(300888) , Hangzhou Huawang New Material Technology Co.Ltd(605377) , Shandong Sun Paper Co.Ltd(002078) .
Home:
This week, the overall trend of the home sector decreased slightly. Affected by the real estate sentiment, the valuation of household enterprises has been suppressed and continued to be weak, so we need to wait for the opportunity of valuation repair. On the basis of new housing construction, with the gradual release of the second-hand housing decoration market, home retail business will usher in a huge stock market. In addition, the whole package released by various household enterprises in 315 activity is expected to achieve brilliant results and boost market confidence. Suggestions: Minhua holdings, Oppein Home Group Inc(603833) , Jason Furniture (Hangzhou) Co.Ltd(603816) .
Other light industries:
Shanghai M&G Stationery Inc(603899) announced that its securities abbreviation was changed to “Chenguang shares”. After renaming, it can more comprehensively and accurately reflect the business situation of the company, better reflect the business and strategic layout of the company, and further strengthen the corporate image and brand value Zhang Xiaoquan Inc(301055) announced the performance in 2021: the company achieved an operating revenue of 7 Nari Technology Co.Ltd(600406) 00 yuan and a total profit of 985307 million yuan, of which the main business revenue was 753389000 yuan, accounting for 99.12% of the operating revenue. Focusing on the kitchen and home scene, the company has actively expanded new categories such as kitchenware, kitchen electricity and home hardware, and improved the company’s product matrix. Through the continuous and stable construction of online, offline, retail, foreign trade and other channels, mutual integration and empowerment, the channel moat has been strengthened. It is suggested to pay attention to: Shanghai M&G Stationery Inc(603899) , Zhang Xiaoquan Inc(301055) .
Electronic cigarette:
The e-cigarette sector rebounded after falling this week. The state tobacco monopoly administration has issued the measures for the administration of e-cigarettes, and the new regulations are to be implemented from May 1, 2022. The management measures impose relatively strict restrictions on tastes and channels, raise the industry access threshold, and the industry competition returns to the product itself We will continue to invest in the research and development of new tobacco brands and provide comprehensive services for our customers. Suggested attention: Shenzhen Jinjia Group Co.Ltd(002191) .
Textile and clothing:
The epidemic is still repeated this week, it still takes time for passenger flow to recover to the pre epidemic level, and the pressure on consumer and retail terminals remains the same. We are optimistic about stocks with undervalued value, high dividends (high dividend yield) and a certain degree of robust defense attribute. We suggest to pay attention to: Dazzle Fashion Co.Ltd(603587) , Jiangnan Buyi, Shenzhen Huijie Group Co.Ltd(002763) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) ; There is still a certain degree of disturbance at the level of sportswear and Hong Kong stock trading, and the allocation value of excellent companies is prominent. It is suggested to pay attention to Anta sports and Li Ning.
Market performance this week:
This week, CITIC light industry manufacturing industry index fell by 2.11% compared with last week, and the overall sector underperformed the CSI 300 index by 1.17 percentage points; This week, the CITIC textile and garment industry index fell by 2.55% compared with last week, and the overall sector underperformed the CSI 300 index by 1.61 percentage points. The CSI 300 fell 0.94%, the Shanghai Composite Index fell 1.77%, the Shenzhen Component Index fell 0.95%, and the gem index rose 1.81%. Among the 30 CITIC first-class industries, light industry manufacturing ranked 21st and textile and garment ranked 24th Among the secondary industries of CITIC light industry manufacturing this week, papermaking fell by 3.8%, packaging and printing fell by 1.04%, household fell by 1.94%, entertainment light industry fell by 1.51%, and other light industries fell by 1.66%; Among the secondary industries of textile and clothing this week, textile manufacturing fell by 2.44% and brand clothing fell by 2.66%.
Investment advice
For the paper sector, it is suggested to focus on the Winner Medical Co.Ltd(300888) itis suggested to pay attention to Shenzhen Jinjia Group Co.Ltd(002191) , textile and clothing Dazzle Fashion Co.Ltd(603587) , Jiangnan cloth, Shenzhen Huijie Group Co.Ltd(002763) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) , Anta sports and Li Ning.
Risk tips
Policy risk, price fluctuation risk of raw materials, sluggish downstream demand risk, and failure of production capacity to meet expectations
