The Overall Growth Of The Textile And Garment Industry Will Continue To Slow.

With the end of the disclosure of Listed Companies in 2010, various industries have also handed over the "examination paper". What is the performance of the textile industry?

According to the statistics of wind data, there are 69 listed companies in the clothing and textile industry, of which only 39 are listed in the textile industry only. However, in the textile industry, there are 7 earnings per share and net profit attributable to shareholders of the parent company is negative, and the overall performance is good.

Low base growth year on year

Textile industry recovered well

In 2010, the key industries of the textile industry grew rapidly. 60% of the key companies had a net profit growth of over 30%, and net profit grew by 37% over the same period.

In particular, the production performance of textile companies exceeded expectations.

It should be said that the textile industry has reached a high level in recent years.

Ma Li, a researcher at Galaxy Securities, said.

What causes the growth rate of the textile industry to accelerate?

"This is mainly due to the poor performance of the financial crisis last year and the emergence of a" low base number ". This year's export increase and domestic demand expansion, the entire terminal demand market is good, so the performance of the textile industry has been improved.

Ma Li said.

According to statistics, the amount of textile and clothing exports increased by 22.9% in the 1-7 months of 2010 compared with the previous year. In the first half of the year, exports rebounded more than expected. "Therefore, the leading performance of manufacturing enterprises is generally over expected, and the growth rate of Lu Tai A, Huafu color spinning and Weixing shares is over 40%.

Ma Li continued, "and another reason is that the recent rise in the price level, plus some inventory left by some companies, makes the company's profit level rising."

According to her analysis,

The companies whose expected performance exceeded expectations were: home textiles,

According to statistics, companies with an increase of around 30% or more: fuanna, Luo Lai home textiles, Meng Jie home textiles, Pathfinder, Mei Bang dress, Saturday, Lao Fengxiang, Weixing shares and Dayang creation.

"Home textile companies benefit from demand recovery, listing dividends and other factors, and sales performance is good."

According to the analysis, the United States through a series of more effective ways to ensure the rapid growth of Direct stores, such as thematic products and so on, joined the market to continue to recover under the support; on Saturday, due to the improvement of the quality of stores and the implementation of the cargo strategy, revenue has maintained a relatively rapid growth; jewelry consumption is the most powerful category after the crisis recovery, and the retail and wholesale business of Lao Fengxiang has been effectively developed; Weixing shares have benefited from the revival of exports and domestic sales, and the new production capacity has brought the expected performance of revenue.

The more stable growth is Saturday, Pathfinder and Lu Tai.

The negative growth is *ST yuan FA, Xinhua Jin, Vico essence, *ST de cotton, ST Xinlong, ST Miya and San Mao Pai Shen.

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Overall growth in the second half

But the growth rate will slow down.

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According to research and analysis, the three quarter net profit growth of higher and relatively low valuation of the company, may have a good performance.

At present, the price earnings ratio of home textile companies is 44-48 times in 2010. From the growth of China Daily, Roley home textiles is the best performing company in the industry.

Clothing companies corresponding to the 2010 earnings ratio of 30-36 times, there is room for growth.

In the China Daily, the US and costumes announced the three quarter growth range, and the two companies' growth in the three quarter was higher than that in the two quarter.

The performance of Smith Barney's clothing declined by 85% compared with the same period last year, but the company announced that its net profit in the 1-9 months increased by 0-20%.

At present, it has low valuation, corresponding to 10 years PE is 30 times, 11 years PE is 23 times, three quarterly report is expected to increase 40-60%, annual growth rate is lower than 40%.

"It is expected that in the short term, the high growth rate of exports may still be sustainable in the 3 quarter, but it will slow down in the 4 quarter, and the growth rate of domestic retail sales will continue to stay above 20%. Benefiting from the strong demand in the first half of the year, the factors of low cost raw material inventory and price increase will increase considerably in the 2 and 3 quarters."

Huatai Securities analyst also said.

However, the overall performance of the clothing and textile industry in 2010 still gave a satisfactory answer to the market.

In the long run, the market will pay attention.