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轻工制造&纺织服饰行业周报：政策持续加码 短期关注“双十一”大促
渤海证券·2024-10-28 08:39

Investment Rating - The report maintains a "Neutral" rating for the light industry manufacturing and textile apparel sectors [9][33] - The report recommends "Increase" ratings for specific companies: Oppein Home, Sophia, Good Wife, Pathfinder, and Semir Apparel [9][33] Core Insights - The report highlights a significant increase in packaging paper prices, with major paper companies implementing price hikes between 30 to 50 CNY per ton, and some companies raising prices by up to 100 CNY per ton due to rising raw material costs [11] - LVMH Group reported a third-quarter revenue of 19.08 billion euros, which was below market expectations, indicating potential challenges in the luxury goods sector [11] - The upcoming "Double Eleven" shopping festival is expected to boost consumer demand in home and apparel categories, contributing to marginal improvements in the market [33] Summary by Sections Industry News - The report notes the concentrated price increases in packaging paper and the overall positive market sentiment as companies adjust prices [11] - LVMH's disappointing sales figures in the fashion and wine sectors suggest challenges in the luxury market [11] High-Frequency Data - TDI and MDI prices have increased, with TDI averaging 13,000 CNY per ton and MDI at 18,300 CNY per ton as of October 18 [11] Company Announcements - Shanying International has secured a 200 million CNY special loan for share repurchase [25] - Linuo Glass has obtained a 100 million CNY loan for share buyback purposes [26] - Pathfinder expects a year-on-year profit increase of 107.23% to 133.27% for the first three quarters of 2024 [26] Market Review - From October 14 to 18, the light industry manufacturing sector underperformed the CSI 300 index by 0.16 percentage points, while the textile and apparel sector lagged by 0.01 percentage points [27][32] - The report identifies the top-performing stocks in the light industry and textile sectors, highlighting significant gains for companies like Songfa and Risheng [31][32] Weekly Strategy - The report emphasizes the importance of government policies aimed at stabilizing the real estate market, which are expected to support demand in the home and apparel sectors [33]