轻工纺服行业周报：出海及织造板块中报优异，建议持续关注

Investment Rating - The industry investment rating is "Overweight (Maintain)" [17] Core Views - The textile and apparel industry has shown strong performance in the first half of 2024, with a focus on overseas expansion and high-dividend manufacturing targets [4][5] - The sports apparel sector is expected to benefit from the upcoming Olympics, driving sales growth [5] - The light industry sector is experiencing a recovery in exports, with leading companies establishing competitive advantages [8][10] Summary by Sections Textile and Apparel Industry - The SW textile and apparel industry index rose by 2.00% during the week of August 26-30, 2024, while the light industry index increased by 2.89% [3] - Key companies to watch include Huayi Group, Weixing Co., and New Australia Co. for textile manufacturing, with Taizhou New Material achieving a revenue of 3.419 billion yuan, up 55.64% year-on-year [4] - Brand apparel leaders such as Baoxini, Hailan Home, and Biyin Lefen are recommended for their resilience amid weak macro consumption [4] Sports Apparel - Anta Sports reported a record high revenue of 33.74 billion yuan in the first half of 2024, up 13.8% year-on-year, solidifying its position as a leader in the Chinese market [5] - The company’s FILA brand also showed growth, with revenue reaching 13.06 billion yuan, up 6.8% [5] Light Industry - The light industry is benefiting from ongoing overseas replenishment demand, particularly in products like insulated cups and office furniture [8] - Key players include Jiangxin Home, which reported a revenue of 1.207 billion yuan, up 27.67% year-on-year, and a net profit of 285 million yuan, up 41.81% [8] Cross-Border E-commerce - The global e-commerce market is rapidly growing, with a focus on leading cross-border e-commerce platforms and overseas warehouse growth [10] - Anker Innovations reported a revenue of 9.648 billion yuan in the first half of 2024, up 36.55% year-on-year, indicating strong performance in its core categories [10] Industry Tracking - The profit of large-scale industrial enterprises in China grew by 3.6% year-on-year from January to July 2024, with the consumer goods manufacturing sector seeing a profit increase of 10.2% [11] - The second round of the home appliance replacement program has been launched, providing subsidies of up to 2,000 yuan per item [11]