Main points
Papermaking:
The paper sector still showed a downward trend this week. In terms of pulp, the price of broad-leaved pulp was significantly lower than that in March this year, and the price of coniferous pulp tended to be flat. In terms of waste paper, due to the continuous impact of the epidemic, the price of waste paper recycling still keeps rising. In terms of other paper products, the power of price rise is insufficient, and the price remains unchanged. It is suggested to pay attention to: Shandong Huatai Paper Industry Shareholding Co.Ltd(600308) , C&S Paper Co.Ltd(002511) , Shandong Sun Paper Co.Ltd(002078) .
Home:
This week, the overall trend of the home sector picked up. The 2021 home service industry analysis report points out that the estimated market scale of home service industry in 2022 will reach 2.56 trillion. In the past two years, affected by the improvement of the overall purchasing power of the people, home services in the fourth and fifth tier cities have surged. In addition, the trend of home decoration is obviously enhanced in enterprises this year. Considering the rigidity of the home service market, non first tier cities have great market potential and broad prospects. It is suggested to pay attention to: Suofeiya Home Collection Co.Ltd(002572) , Oppein Home Group Inc(603833) , Jason Furniture (Hangzhou) Co.Ltd(603816) .
Textile clothing:
This week, the disturbance of epidemic situation in some high-speed cities continued, and the terminal sales of textile and clothing were phased suppressed. At this stage, we are optimistic about two main lines: 1) targets with relatively high dividend yield and stable defense attribute in the sector. It is recommended to pay attention to Shenzhen Huijie Group Co.Ltd(002763) , Luolai Lifestyle Technology Co.Ltd(002293) , Zhejiang Semir Garment Co.Ltd(002563) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) ; 2) In the critical stage of epidemic prevention and control, the main business is strongly related to the expectation of economic recovery, which is expected to gradually show configuration value. It is suggested to pay attention to Zhejiang Aokang Shoes Co.Ltd(603001) .
Electronic cigarette:
The new regulation of electronic cigarette continues to ferment, and its long-term growth is still significant. In the “several policies and measures on regulating the development of e-cigarette industry (Trial)”, the competent authorities encourage and support the e-cigarette industry, especially to improve the overall technical level of the e-cigarette industry and build a technological innovation system with e-cigarette enterprises as the main body, market orientation, industry university research and application coordination and the integrated development of upstream and downstream industries. As a leader in the field of atomization, smore international has built a technical barrier under the first mover advantage and long-term high R & D investment, which is conducive to deeply binding key customers and developing new customers. Under the continuous technical iteration, it is expected to maintain its market leading position. Suggested attention: smore international.
Market performance this week:
This week, CITIC light industry manufacturing industry index fell by 1.52% compared with last week, and the overall sector underperformed the CSI 300 index by 0.46 percentage points; This week, the CITIC textile and garment industry index decreased by 1.51% compared with last week, and the overall sector underperformed the CSI 300 index by 0.45 percentage points. The CSI 300 fell 1.06%, the Shanghai Composite Index fell 0.94%, the Shenzhen Component Index fell 2.20%, and the gem index fell 3.64%. Among the 30 CITIC first-class industries, light industry manufacturing ranked 16th and textile and garment ranked 15th. Among the secondary industries of CITIC light industry manufacturing this week, papermaking fell by 0.76%, packaging and printing fell by 3.18%, household rose by 0.07%, entertainment light industry fell by 0.97%, and other light industries fell by 2.04%; Among the secondary industries of textile and clothing this week, textile manufacturing decreased by 1.51% and brand clothing decreased by 1.52%.
Investment advice
For the paper sector, it’s suggested to focus on 6 Zuming Bean Products Co.Ltd(003030) 30a \ , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) , Zhejiang Aokang Shoes Co.Ltd(603001) , e-cigarette section suggests to pay attention to smore international.
Risk tips
Policy risk, price fluctuation risk of raw materials, sluggish downstream demand risk, and failure of production capacity to meet expectations
