Sou Hu Cai Jing·2025-08-17 13:16Industry Overview - The textile and apparel industry report by Guotai Junan Securities provides a multi-dimensional analysis of the sector, highlighting key metrics across different market segments [1][2] - The A-share SW textile and apparel sector has a market capitalization of 688.1 billion yuan, with projected revenues of 535.7 billion yuan and net profits of 22.7 billion yuan for 2024 [1][9] - The Hong Kong HS textile and apparel sector has a market capitalization of 1,668 billion yuan, with net profits of 74.7 billion yuan [1][13] - The US WIND textile and apparel sector has a market capitalization of 299.7 billion yuan, with revenues of 169.8 billion yuan and net profits of 12.5 billion yuan [1][13] Market Segmentation - In 2024, the market share for women's wear, men's wear, sportswear, and children's wear is projected to be 46%, 27%, 15%, and 12% respectively [2] - The concentration ratios for the sportswear market are CR3 at 27.66%, CR5 at 44.80%, and CR10 at 65.73% [2] Supply Chain Structure - The industry supply chain is divided into upstream (raw materials like metals, oil, and textiles), midstream (production of dyeing, weaving, and garments), and downstream (brands and e-commerce channels) [1][22] - Key upstream materials include cotton and polyester, while midstream activities involve garment manufacturing and dyeing [1][22] Financial Performance - The report tracks revenue, cost proportions, and growth rates for various companies from 2019 to 2024, alongside metrics for US retail and apparel sales [2][25] - The textile manufacturing sector shows a high dependency on raw material costs, which can lead to cyclical performance [25][26] Company Analysis - The report lists major companies in the textile and apparel sector, including Huayi Group, Anta Sports, and Nike, detailing their market positions and financial metrics [1][9][13] - The performance of companies is influenced by their ability to adapt to market changes and manage operational efficiencies [19][25] Research Methodology - The report outlines the research methodology, including the tracking of external and internal growth impacts on company performance [2][24] - It emphasizes the importance of understanding market dynamics and consumer behavior in the textile and apparel industry [2][24]