轻工制造及纺服服饰行业周报：10月轻纺出口转正，家居内销修复、继续推荐

Investment Rating - The report maintains a rating of "Overweight" for the light industry manufacturing and textile apparel sectors [2]. Core Insights - The report highlights a recovery in domestic home goods sales, driven by government subsidies for replacing old products and improving consumer confidence. October saw a month-on-month increase in domestic orders, indicating a positive shift in the market [3]. - Exports in the furniture and textile sectors turned positive in October, with furniture and parts exports amounting to USD 5.39 billion, a year-on-year increase, and textile exports also showing significant growth [3][13]. - The report emphasizes the potential for growth in the home goods sector, particularly in customized furniture and smart home products, as companies adapt to new consumer demands and government policies [3][4]. Summary by Sections Market Performance - From November 4 to November 8, 2024, the Shanghai Composite Index rose by 5.51%, the Shenzhen Component Index by 6.75%, and the light industry manufacturing index by 7.58%, ranking 7th among 28 industries. The textile and apparel index increased by 5.35%, ranking 19th [10][11]. - The sub-sectors within light industry manufacturing showed significant gains, with entertainment products up by 10.84%, packaging and printing by 10.52%, and paper by 9.04% [10][11]. Key Company Data - The report lists 154 companies in the industry, with a total market capitalization of CNY 909.91 billion and a circulating market value of CNY 785.70 billion [1]. Export Data - In October 2024, furniture and parts exports reached USD 5.39 billion, a year-on-year increase from USD 5.26 billion. Cumulative exports from January to October totaled USD 54.93 billion, up by 7.2% year-on-year [3][13]. - Textile and apparel exports also showed growth, with clothing and accessories exports at USD 13.09 billion (up 6.8% year-on-year) and textile yarns and fabrics at USD 12.39 billion (up 15.6% year-on-year) [3][13]. Domestic Sales Insights - The report notes a positive trend in domestic sales for home goods, with companies reporting a shift from negative to positive order intake in October, supported by government subsidy policies and a recovering real estate market [3][4].