轻工制造&纺织服饰行业周报：政策预期强化，内需修复可期待

Investment Rating - The report maintains a "Neutral" rating for the light industry manufacturing and textile apparel sectors, while recommending an "Overweight" rating for specific companies including Oppein Home, Sophia, Good Housekeeper, Explorer, and Semir Apparel [1][18]. Core Insights - The report highlights a significant increase in production capacity for household paper, with 1.368 million tons expected to be added in 2024, marking a year-on-year increase of approximately 20,000 tons compared to 2023 [4]. - Fujian province's bag exports have shown resilience, reaching 17.262 billion yuan in the first nine months of the year, a year-on-year growth of 5.71%, indicating strong international demand [4]. - The report notes a positive trend in the domestic real estate market, with new housing sales showing a year-on-year increase of 0.90% in October, suggesting a potential recovery in consumer confidence and spending [18]. Summary by Sections Industry News - The household paper industry is set to add 1.368 million tons of new capacity in 2024, with a notable increase in production in the third quarter compared to previous quarters [4]. - Fujian's bag exports have increased by 5.71% year-on-year, with significant growth in exports to Asia and emerging markets [4]. Industry High-Frequency Data - TDI and MDI prices have risen, with TDI averaging 12,800 yuan/ton and MDI at 18,800 yuan/ton as of November 8, reflecting a week-on-week increase [5]. - Domestic prices for needle and broadleaf pulp have shown mixed trends, with needle pulp at 6,277.22 yuan/ton (up 23.78 yuan) and broadleaf pulp at 4,532.00 yuan/ton (down 48.00 yuan) [7]. Company Announcements - Seven Wolves has repurchased 16.041 million shares, accounting for 2.28% of its total share capital, with a total transaction amount of approximately 79.77 million yuan [14]. - Lega shares saw an increase of 669,200 shares by its actual controller, reflecting confidence in the company's future [14]. Market Review - From November 4 to November 8, the light industry manufacturing sector outperformed the CSI 300 index by 2.08 percentage points, with a sector growth of 7.58% compared to the index's 5.50% [15]. - The textile and apparel sector underperformed the CSI 300 index by 0.16 percentage points, with a sector growth of 5.35% [15]. Weekly Strategy - The report suggests a cautious outlook for the home goods sector due to recent export chain declines, while highlighting strong performers in the light industry manufacturing sector [16]. - The textile and apparel sector saw significant gains in specific stocks, indicating potential investment opportunities despite overall sector challenges [16].