Main points
Home:
The overall household sector declined slightly this week. Since this year, more than 60 cities across the country have adjusted their real estate financial policies, and all cities have introduced subsidy policies. Under the depressed market situation of the real estate market, this wave of “subsidy volume” has helped all localities to rescue the market. The policy direction of supporting reasonable demand and the regulation of urban policies are one of the main themes of the property market policy this year. With the support of policies, the property market is expected to gradually pick up, and the valuation of the home industry is expected to repair slowly. It is suggested to pay attention to: Jason Furniture (Hangzhou) Co.Ltd(603816) , Oppein Home Group Inc(603833) .
Papermaking:
The paper sector continued to decline this week. In terms of pulp, the continuous high price of pulp futures supports the rise of pulp price again. In terms of waste paper, the price of national waste yellow paperboard will rise slightly. With the gradual smooth logistics, the price of national waste paperboard is expected to fall in the future. In terms of cultural paper, the performance is relatively stable. Overseas orders of white cardboard are hot, and the price has risen. It is suggested to pay attention to: Shandong Huatai Paper Industry Shareholding Co.Ltd(600308) , Shandong Sun Paper Co.Ltd(002078) , Winner Medical Co.Ltd(300888) .
Other light industries:
Gongniu Group Co.Ltd(603195) held a performance presentation meeting. The company said that the main lamp is a new development trend of the lighting industry and the strategic focus of the company. At present, the company’s main lamp products have begun large-scale trial sales, and give full play to its comprehensive competitive advantages in products, channels, supply chain and brand to accelerate the development of the main lamp business. At the same time, the company will accelerate the transformation and upgrading of enterprises around the new energy power business track with charging gun and charging pile as the core. Bubble Mart released the latest business status announcement in the first quarter of 2022. The announcement shows that the overall operating revenue of bubble Mart in the first quarter increased by 65% – 70% year-on-year, of which the revenue of bubble Mart box extractor increased significantly. At the same time, UNIQLO and bubble mart’s joint brand series ut were officially launched in UNIQLO’s national stores, UNIQLO’s official website and handheld flagship stores. In addition, bubble Mart created the first Mega Collection series products for skullpanda, which is the high-end product line launched by bubble mart for another head IP series after Molly. Bubble mart will also continue to layout the art collection product line. It is suggested to pay attention to: Gongniu Group Co.Ltd(603195) , bubble Mart.
Textile and clothing:
The sector index fluctuated greatly this week, and the market expected trend to turn better. The dawn is beginning to appear. We believe that the purchase value of some tracks in the industry is emerging: first, sportswear tracks and some high-speed cities are expected to benefit first after the economic recovery, and return to their long-term configuration value matching the prosperity. It is suggested to pay attention to Anta sports, Li Ning and Tebu International; 2、 For the textile manufacturing and processing track, overseas factories are expected to get links affected by the epidemic, and the leading enterprises have the advantage of integration, and the external market demand is relatively stable. It is suggested to pay attention to Shenzhou International and Huali Industrial Group Company Limited(300979) .
Market performance this week:
This week, CITIC light industry manufacturing industry index fell by 6.09% compared with last week, and the overall sector underperformed the CSI 300 index by 6.17 percentage points; This week, the CITIC textile and garment industry index fell by 9.77% compared with last week, and the overall sector underperformed the CSI 300 index by 9.85 percentage points. The CSI 300 rose 0.07%, the Shanghai Composite Index fell 1.29%, the Shenzhen Component Index fell 0.27%, and the gem index rose 0.98%. Among the 30 CITIC first-class industries, light industry manufacturing ranked 27th and textile and garment ranked 30th. Among the secondary industries of CITIC light manufacturing this week, papermaking fell by 5.25%, packaging and printing fell by 5.05%, household fell by 4.27%, entertainment light industry fell by 2.83% and other light industries fell by 2.16%; Among the secondary industries of textile and clothing this week, textile manufacturing rose by 4.14% and brand clothing rose by 5.62%.
Investment advice
It is suggested to pay attention to Winner Medical Co.Ltd(300888) , Shandong Huatai Paper Industry Shareholding Co.Ltd(600308) , Shandong Sun Paper Co.Ltd(002078) , Oppein Home Group Inc(603833) , Jason Furniture (Hangzhou) Co.Ltd(603816) , bubble Mart in the paper sector, Shenzhou International, Huali Industrial Group Company Limited(300979) , Anta sports, Li Ning and Tebu international in the home sector.
Risk tips
Policy risk, price fluctuation risk of raw materials, sluggish downstream demand risk, and failure of production capacity to meet expectations
