纺织服饰行业：看好纺织制造板块三季度行情

Investment Rating - The industry investment rating is "Buy" [4] Core Viewpoints - The textile and apparel industry has shown stable growth in textile exports, with year-on-year growth rates of 2.61%, 3.84%, and 3.69% for the first quarter, second quarter, and July respectively, driven by improved demand and low base effects from the previous year [2][3] - Retail sales of clothing and textiles have faced pressure, with year-on-year growth rates of 2.50%, 0.03%, and -5.18% for the same periods, indicating a challenging consumer environment [2] - The textile manufacturing sector is expected to perform well in the third quarter of 2024, while the apparel and home textile sector is anticipated to face continued pressure [2][3] Summary by Sections Textile Manufacturing Sector - The textile manufacturing sector is primarily engaged in OEM export business, benefiting from low performance bases from the previous year and improved demand from overseas brands [2][3] - Key companies to watch include Huayi Group, Jian Sheng Group, and Lutai A, which are expected to accelerate performance in the third quarter compared to the second quarter [3] - Companies like Xin Ao Co. and Bailong Dongfang are expected to show improved performance in the second half of the year due to previous high inventory costs being digested [3] - Traditional textile leaders involved in ultra-high molecular weight polyethylene fiber are expected to benefit from clarified export policies, with companies like Nanshan Zhishang and Henghui Anfang poised for performance acceleration [3] Apparel and Home Textile Sector - The apparel and home textile sector is expected to face short-term performance pressure, but long-term prospects remain positive for high-end and cost-effective brands [3] - Companies such as Hailan Home, Biyin Lefen, and Anta Sports are recommended for their resilience in the current consumer environment [3]