This week, the textile and garment sector lagged behind the market by 2.77pct, with Jiangsu Sanfame Polyester Material Co.Ltd(600370) , Shenzhen Ellassay Fashion Co.Ltd(603808) , Dazzle Fashion Co.Ltd(603587) rising ahead. This week (03.28-04.01), SW textile and garment sector fell 0.34%, Shanghai and Shenzhen 300 rose 2.43%, and textile and garment sector lagged behind the market by 2.77pct. Among them, SW textile manufacturing sector fell 0.98%, and SW clothing and home textile rose 0.01%. From the valuation level of the sector, the industry PE calculated by SW textile and garment overall method (TTM, excluding negative value) is 16.44 times, which is lower than the average value in recent one year. The top five companies in the textile and garment sector were: Jiangsu Sanfame Polyester Material Co.Ltd(600370) (+ 10.47%), Shenzhen Ellassay Fashion Co.Ltd(603808) (+ 8.9%), Dazzle Fashion Co.Ltd(603587) (+ 7.3%), Guangdong Bobaolon Co.Ltd(002776) (+ 6.8%), Xinlong Holding (Group) Company Ltd(000955) (+ 6.74%).
The household goods sector lagged behind the market by 0.7pct this week, with Jiangshan Oupai Door Industry Co.Ltd(603208) , Qumei Home Furnishings Group Co.Ltd(603818) , Hhc Changzhou Corp(301061) rising ahead. This week (03.28-04.01), SW household goods sector rose 1.73%, Shanghai and Shenzhen 300 rose 2.43%, and household goods sector lagged behind the market by 0.7pct. From the valuation level of the sector, the current industry PE calculated by SW household goods overall method (TTM, excluding negative value) is 21.85 times and SW furniture is 20.74 times, which is lower than the average value in recent one year. The top five companies in the furniture sector this week are: Jiangshan Oupai Door Industry Co.Ltd(603208) (+ 11.4%), Qumei Home Furnishings Group Co.Ltd(603818) (+ 10.57%), Hhc Changzhou Corp(301061) (+ 7.07%), Vohringer Home Technology Co.Ltd(603226) (+ 5.47%), Suofeiya Home Collection Co.Ltd(002572) (+ 5.46%).
Important industry news:
\u3000\u30001. Fujian Septwolves Industry Co.Ltd(002029) acquired "laofoye" brand with the same name made a profit for the first time. In 2021, Fujian Septwolves Industry Co.Ltd(002029) revenue increased by 5.52% year-on-year to RMB 3.514 billion, and the net profit was RMB 231 million, with a year-on-year increase of 10.65%. After four years of cultivation, Fujian Septwolves Industry Co.Ltd(002029) acquired Karl Lagerfeld finally turned losses into profits. In terms of channels, by the end of 2021, Fujian Septwolves Industry Co.Ltd(002029) Direct stores and franchise stores had 897 and 979 respectively, further reducing from 909 and 1003 in the previous year; The average store efficiency was about 1.4 million yuan, an increase of 7.69% over 2020, and the average operating revenue of old Direct stores increased by 1.83% year-on-year. For online channels, in 2021, Fujian Septwolves Industry Co.Ltd(002029) online revenue decreased by 18.37 million yuan to 1.435 billion yuan compared with the previous year, while the operating revenue of direct and franchise channels increased by 167221 million yuan, 184 million yuan to 687 million yuan and 1.106 billion yuan respectively. Karl Lagerfeld, the invested luxury brand, turned losses into profits, which is also the brand's first profit since 2014. In 2021, the brand sales revenue was 279 million yuan, a year-on-year increase of 107.32%; The net profit was 112036 million yuan and the loss in 2020 was 221799 million yuan Fujian Septwolves Industry Co.Ltd(002029) said that in 2021, the company improved the product supply chain of Karl Lagerfeld, enriched the product structure, formed a product series covering men's clothing, women's clothing and accessories, continued to optimize the channel construction, combed and established a core talent team, and improved the brand awareness through diversified marketing promotion. Next, Fujian Septwolves Industry Co.Ltd(002029) will continue to improve the Karl Lagerfeld supply chain system, expand channels based on city classification, lay out e-commerce channels, and build a standard retail operation system under Wuxi Online Offline Communication Information Technology Co.Ltd(300959) unified management.
\u3000\u30002. Hla Group Corp.Ltd(600398) launched the brand of men's care. Recently, Hla Group Corp.Ltd(600398) 's male brand HALFOFFREE semi free tiktok has launched the new series of exploring men's Eau De Toilette pure water (Hang Haijia), which is now on Tmall and jute shop, priced at 168 yuan / bottle. The birth of semi free brand is an important step for Hla Group Corp.Ltd(600398) realizing the strategic layout of youth. In August 2021, Sofitel conducted a cross-border cooperation with Hla Group Corp.Ltd(600398) to launch a men's anti falling off maintenance suit - anti falling off hair box, which was fully launched on August 25 at Hla Group Corp.Ltd(600398) national stores, drugstore supermarkets and online platforms. Then in September 2021, Hla Group Corp.Ltd(600398) its Chinese cutting-edge men's personal care brand "semi freedom" was officially launched on tmall. Semi free is positioned as a brand specialized in personal care for Chinese men, aiming at Chinese young men aged 18-28. It provides men's personal care products with the formula of science and technology + natural ingredients. At present, semi free has released several SKUs, and the products are mainly for men's daily needs, such as men's scrub shower gel, men's oil control shampoo, men's anti stripping shampoo, etc. As of November last year, Hla Group Corp.Ltd(600398) had 7537 stores. The third quarter report of last year showed that its offline revenue was 11.645 billion, compared with 1.95 billion online. Accounting for 85.6% and 14.4% of revenue respectively.
\u3000\u30003. Senma first opened a brand collection store in the park. On March 25, Senma opened the first multi brand collection S-Mall store in Wenzhou. It is reported that the collection store is located in the Wenzhou Industrial Park of Senma, Ouhai Economic Development Zone, with a business area of more than 2000 square meters and a collection of two head brands, Senma and barabarabara. The store adopts the concept of online new retail + offline physical store, and constructs multiple different modules such as offline physical image area, new retail live broadcast area, self-service sales area, in store customer experience area and online cloud store sales area, so as to create a consumer-centered digital business complex integrating social networking, culture, technology and Wuxi Online Offline Communication Information Technology Co.Ltd(300959) experience.
Important announcement of the company: [Anta Sports] annual report of 2021; [ Ningbo Peacebird Fashion Co.Ltd(603877) ] annual report for 2021; [Shenzhou International] preliminary annual results announcement for the year ended 31 December 2021; [ Ningbo Peacebird Fashion Co.Ltd(603877) ] announcement on the amount of financing guarantee provided by the company in 2022; [Tebu international] 2021 annual report; [Lutai a] Luthai Textile Co.Ltd(000726) foreign investment announcement; [ Baoxiniao Holding Co.Ltd(002154) ] announcement on the company's access to government subsidies; [ Zhejiang Semir Garment Co.Ltd(002563) ] annual report for 2021; [Lutai a] Luthai Textile Co.Ltd(000726) public issuance of A-share convertible bonds, 2022 interest payment announcement.
Investment suggestion: for the clothing and home textile sector, it is suggested to pay attention to Anta sports and Li Ning, the leaders of sportswear with higher prosperity and better competition pattern, as well as Chow Tai Seng Jewellery Company Limited(002867) , Bosideng, Ningbo Peacebird Fashion Co.Ltd(603877) .
Risk tips: 1 Real estate sales did not meet expectations; 2. The epidemic situation in China continues to occur repeatedly; 3. Intensified brand competition; 4. The epidemic situation in Southeast Asia may affect the production capacity release of the textile manufacturing industry; 5. The exchange rate fluctuates greatly.
