纺织服装行业周观点：冰雪产业获政策加持，越南鞋类出口大增

Investment Rating - The report maintains a "Buy" rating for key companies including Huali Group, Weixing Co., and Biyinlefen [1]. Core Insights - The ice and snow industry is expected to benefit from government policies, potentially reaching a market size of 1.2 trillion yuan by 2027, with further growth anticipated to 1.5 trillion yuan by 2030 [5][6]. - Shanghai's home textile subsidies are being implemented rapidly, with a 15% subsidy on sales prices, which may expand to other regions [9][10]. - Vietnam's textile and footwear exports have shown significant growth, with textile exports up 19% and footwear exports up 50.5% year-on-year [11][12]. Summary by Sections 1. Key Views and Investment Suggestions - The ice and snow economy is projected to reach a total scale of 1.2 trillion yuan by 2027, driven by improved facilities and service levels [5]. - The home textile subsidy program in Shanghai is expected to stimulate market consumption, with sales potentially accounting for 40% of annual revenue in the fourth quarter [9]. - Vietnam's textile and footwear exports have seen substantial increases, indicating strong export resilience [11]. 2. Market Review - The textile and apparel index increased by 5.8% in the past week, outperforming the CSI 300 index [15]. - Year-to-date performance shows textile manufacturing down 4.8% while brand apparel is down 3.7% [15]. 3. Major Raw Material Trends - The report includes various charts detailing the trends in raw material prices, such as cotton and polyester, which are essential for the textile industry [4].