The fund’s position in the A-share textile and garment industry was at a low position, with an increase in 22q1 compared with 21q4. According to wind statistics, the proportion of heavily held A-share textile and garment industry by public funds has continued to decline since 16q1, reaching the lowest value of 0.23% in 17q3, then rebounded to 0.77% in 18q2 and began to decline again, reaching a record low of 0.11% in 20q3. After that, it rebounded for three consecutive quarters, 21q3 fell again, 21q4 began to rise continuously, and 22q1 increased by 0.02pct to 0.27% month on month, lower than the proportion of textile and garment industry in the total market value of A-share (0.60%). In terms of sub sectors, the market value of 22q1 public fund’s heavy holdings in textile manufacturing accounted for 0.03%, down 0.02pct month on month; Clothing and home textile heavy positions accounted for 0.24% of the stock market value, with a month on month increase of 0.03pct.
From the number of heavy warehouse funds, there are more clothing and home textiles. According to wind, 22q1’s clothing and home textile sector has more heavy warehouse funds than the textile manufacturing sector, and the top five funds are: Biem.L.Fdlkk Garment Co.Ltd(002832) (52), Huali Industrial Group Company Limited(300979) (23), Saturday Co.Ltd(002291) (19), Zhejiang Weixing Industrial Development Co.Ltd(002003) (19), Bros Eastern Co.Ltd(601339) (12). Among the 25 comparable targets, the number of funds held by 8 targets increased compared with 21q4, 11 were flat and 6 decreased.
From the total holdings of heavy warehouse funds, there are more clothing and home textiles. According to wind, the top five shares held by 22q1 are Hla Group Corp.Ltd(600398) (139.9 million shares), Biem.L.Fdlkk Garment Co.Ltd(002832) (92.81 million shares), Saturday Co.Ltd(002291) (85.14 million shares), Zhejiang Hangmin Co.Ltd(600987) (70.96 million shares), Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) (54.89 million shares). Among the 25 comparable targets, the number of shares held by 11 target funds increased month on month and 14 decreased.
Judging from the market value of the fund’s heavy positions, Biem.L.Fdlkk Garment Co.Ltd(002832) ranks first. The top five textile and clothing industry targets in the market value of 22q1 fund’s heavy positions are Biem.L.Fdlkk Garment Co.Ltd(002832) (RMB 2.192 billion), Huali Industrial Group Company Limited(300979) (RMB 2.108 billion), Saturday Co.Ltd(002291) (RMB 1.513 billion), Hla Group Corp.Ltd(600398) (RMB 756 million) and Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) (RMB 424 million).
From the proportion of the market value of the fund’s heavy positions in the total market value of the company, Biem.L.Fdlkk Garment Co.Ltd(002832) ranks first. The top five textile and clothing industry targets with 22q1 fund’s heavy position market value accounting for the company’s total market value are Biem.L.Fdlkk Garment Co.Ltd(002832) (16.26%), Saturday Co.Ltd(002291) (9.28%), Zhejiang Hangmin Co.Ltd(600987) (6.75%), Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) (6.62%) and Zhejiang Natural Outdoor Goods Inc(605080) (3.75%).
Summary of changes in industry fund positions: the overall attention has increased, the attention of textile manufacturing sector has decreased, and the attention of clothing and home textile sector has increased. In the textile manufacturing sector, the fund paid more attention to the leading companies in the supply chain of various fine-grained industries (mainly Zhejiang Hangmin Co.Ltd(600987) , Zhejiang Xinao Textiles Inc(603889) etc.) with low valuation in the sector and small increase in share price, and the mixed reform of controlling shareholders and the introduction of textile OEM giants, which is expected to further deepen the Anhui Huamao Textile Company Limited(000850) attention of supply chain coordination. In terms of the apparel and home textile sector, the funds are mainly aimed at the 21-year-old fashion movement fine molecule industry leaders (mainly the Biem.L.Fdlkk Garment Co.Ltd(002832) \ etc.) increased attention.
Investment suggestion: it is suggested that the upstream textile manufacturing sector pay attention to: Huali Industrial Group Company Limited(300979) , Zhejiang Natural Outdoor Goods Inc(605080) , Zhejiang Weixing Industrial Development Co.Ltd(002003) , Zhejiang Xinao Textiles Inc(603889) , Zhejiang Jasan Holding Group Co.Ltd(603558) , Luthai Textile Co.Ltd(000726) , Anhui Korrun Co.Ltd(300577) , etc. It is suggested to pay attention to the downstream clothing and home textile sector: Biem.L.Fdlkk Garment Co.Ltd(002832) , Comefly Outdoor Co.Ltd(603908) , Luolai Lifestyle Technology Co.Ltd(002293) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) , Shanghai Shuixing Home Textile Co.Ltd(603365) , etc.
Risk warning. RMB exchange rate fluctuation risk; Risk of falling raw material prices; Low end demand risk; Risk of supply chain upgrading less than expected
