纺织服装行业周报：小市值个股表现活跃，静待内需板块基本面的改善

Investment Rating - The industry investment rating is "Positive (Maintain)" [1] Core Viewpoints - The report indicates a recovery in retail sales growth driven by trade-in programs, with expectations for a continued recovery in the future [3] - The industry is anticipated to experience a "valuation-led recovery followed by fundamental support" due to ongoing policy support for consumption [3] Summary by Relevant Sections Market Review - Last week, the CSI 300 Index rose by 0.79%, the ChiNext Index increased by 2%, and the textile and apparel industry index (CITIC) surged by 5.09%, outperforming both the CSI 300 and ChiNext indices [4][7] - The textile manufacturing sector (CITIC) rose by 3.83%, while the branded apparel sector (CITIC) increased by 6.21%, with small-cap stocks performing well [4][7] Important Industry and Company Information - Xtep International reported a median year-on-year retail sales growth for its main brand as of September 30, 2024, with retail discounts around 75% and channel inventory turnover of about four months [4][12] - New Australia Holdings achieved a revenue of 1.315 billion, a year-on-year increase of 10.54%, and a net profit of 104 million, up 7.79% year-on-year [9][13] - The report highlights the performance of several companies, including a significant revenue drop for Fuanna, which reported a revenue of 579 million, down 11.21% year-on-year, and a net profit decline of 40.78% [15] Investment Recommendations and Targets - The report recommends a portfolio including Weixing Co. (002003, Buy), Proya (603605, Buy), Shenzhou International (02313, Buy), and Bosideng (03998, Buy) [5][17] - It emphasizes the potential for leading companies in the domestic demand sector, particularly in sports and functional apparel, to gradually improve their fundamentals [5][17] - The report also suggests monitoring cosmetic and medical beauty leaders that are showing strong growth, such as Proya (603605, Buy) and others [5][17]