轻工行业周报：1-8月家具制造业利润总额同比增长7.1%

Investment Rating - The report maintains an "Overweight" rating for the light industry sector [2]. Core Insights - The furniture manufacturing industry saw a profit increase of 7.1% year-on-year from January to August 2024, with total profits reaching 20.3 billion yuan and revenues of 419.18 billion yuan, reflecting a 3.4% growth [5][6]. - The paper industry demonstrated significant growth, with production of mechanical paper and cardboard increasing by 11.7% year-on-year, resulting in revenues of 934.03 billion yuan and profits of 28.54 billion yuan, marking an 86.2% increase [5][6]. - The plastic products industry faced a slight decline, with production decreasing by 0.3% year-on-year, totaling 48.314 million tons [6]. Market Review - From October 21 to October 25, the light manufacturing industry index rose by 6.95%, outperforming the Shanghai and Shenzhen 300 index, which increased by 0.79% [7][8]. - Year-to-date, the light manufacturing industry index has decreased by 8.27%, while the Shanghai and Shenzhen 300 index has increased by 15.31% [8]. Investment Strategy - The report suggests continued focus on leading companies in the home furnishing sector, particularly those in the post-real estate cycle, such as Gujia Home, Oppein Home, Sophia, and ZB Home [2]. Important News and Company Announcements - A new project for producing 500,000 tons of functional paper chemicals in Guangxi has been approved, with a total investment of 300 million yuan, expected to be completed by January 2026 [15][16]. - Haoyue Care announced a share buyback, having repurchased 1.06% of its total shares, with a total transaction amount of 56.68 million yuan [17].