Main points
Papermaking:
The paper sector continued to decline this week. In terms of pulp, the price of pulp remains at a high level. In the short term, the price of pulp will not fluctuate significantly. In terms of waste paper, affected by the epidemic, the transportation of waste paper is relatively limited, and there is a shortage of goods. Some manufacturers have taken measures to raise prices. In terms of cultural paper, with the hot sale of teaching materials and other products, cultural paper finally ushered in the peak season in March, and major paper manufacturers have issued price increase letters. 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. Recently, household enterprises gradually announced their performance from January to February. Despite the rampant epidemic, announced household enterprises such as Qumei increased their net profit by about 85% year-on-year in February and 45% year-on-year in February. In addition, Beijing will raise 400000 sets of affordable rental housing during the 14th Five Year Plan period, and the valuation of household enterprises is expected to be repaired. It is suggested to pay attention to: Oppein Home Group Inc(603833) , Jason Furniture (Hangzhou) Co.Ltd(603816) .
Other light industries:
As an official fitness equipment supplier for the Beijing Winter Olympics, Shuhua Sports Co.Ltd(605299) officially released the “2030 strategic plan”, which plans to make every effort to reach the development goal of 10 billion sales in 2030. In the “post Winter Olympic era”, Shuhua Sports Co.Ltd(605299) will focus on “refined products” as the primary strategic tool to create the ultimate product strength, and will create the international first-line quality through local innovation, leading the smart Internet technology. It is suggested to pay attention to: Shuhua Sports Co.Ltd(605299) , Chenguang shares.
Textile and clothing:
The epidemic situation has been repeated and serious this week. Some high-speed cities have been disturbed by the epidemic, and the recovery of terminal retail is still under pressure. This week, the sportswear sector entered the performance disclosure period. The revenue of Anta sports / Li Ning / Tebu international increased by 38.84% / 56.55% / 22.58% respectively in 2021, and the net profit deducted from non parent company increased by 69.88% / 154.82% / 103.11% respectively in 2021. The upward momentum of the boom is clear, and we are firmly optimistic about the long-term configuration value of excellent companies with high-quality track. It is suggested to pay attention to Anta sports, Li Ning and Tebu International; Affected by the change of liquidity policy, we are still optimistic about High Dividend Stocks with valuation / dividend payout performance price ratio and stable defense attribute in the sector this week. It is recommended to pay attention to Dazzle Fashion Co.Ltd(603587) , Shenzhen Huijie Group Co.Ltd(002763) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) .
Market performance this week:
This week, CITIC light industry manufacturing industry index fell by 1.32% compared with last week, and the overall sector outperformed the Shanghai and Shenzhen 300 index by 0.82 percentage points; This week, the CITIC textile and garment industry index rose 1.10% over last week, and the overall sector outperformed the Shanghai and Shenzhen 300 index by 3.24 percentage points. The CSI 300 fell 2.14%, the Shanghai Composite Index fell 1.19%, the Shenzhen Component Index fell 2.08%, and the gem index fell 2.80%. Among the 30 CITIC first-class industries, light industry manufacturing ranked 15th and textile and garment ranked 6th. Among the secondary industries of CITIC light industry manufacturing this week, papermaking fell by 2.24%, packaging and printing fell by 0.34%, household fell by 2.21%, entertainment light industry remained unchanged, and other light industries rose by 0.82%; Among the secondary industries of textile and clothing this week, textile manufacturing rose by 2.11% and brand clothing rose by 0.18%.
Investment advice
For the paper sector, it’s suggested to focus on the Winner Medical Co.Ltd(300888) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) , Anta sports, Li Ning, Tebu international.
Risk tips
Policy risk, price fluctuation risk of raw materials, sluggish downstream demand risk, and failure of production capacity to meet expectations
