M10家具类零售额同比+7.4%，本周白板/箱板/瓦楞纸价环比上行

Investment Rating - The industry is rated as "Positive," indicating an expected overall return exceeding 5% above the CSI 300 index within the next six months [50]. Core Insights - The furniture retail sales in October (M10) increased by 7.4% year-on-year, while prices for whiteboard, boxboard, and corrugated paper showed a slight increase week-on-week [4][24]. - The light industry sector experienced a decline of 3.68% this week, with a year-to-date drop of 5.55% [10][20]. - Strong performance was noted in individual stocks, with Qiangbang New Material leading with a year-to-date increase of 423.76% [10][20]. Market Overview - The real estate market showed a contraction in October 2024, with transaction areas and units down by 6.33% and 10.53% respectively in 30 major cities, although the decline is narrowing [20][21]. - The furniture manufacturing industry reported a revenue increase of 2.50% year-on-year for the first nine months of 2024, with exports of furniture and parts up by 2.51% [24][26]. Industry Data Tracking Furniture Industry - The retail sales of furniture in October increased by 7.40% year-on-year, with social consumer goods retail sales also showing a positive trend [24][25]. - The prices of TDI and MDI were reported at 12,850 and 18,400 RMB per ton respectively, with year-on-year changes of -23.96% and +13.23% [24][25]. Paper Industry - In the paper sector, the import and export volumes of pulp and paper products saw a year-on-year decrease of 17.70% and an increase of 7.00% respectively [26][27]. - The market prices for whiteboard paper and white card paper were reported at 4,050 and 4,376.67 RMB per ton, with year-on-year declines of 10.60% and 16.53% [26][27]. Packaging Industry - The prices for polyethylene and polypropylene increased by 2.69% and decreased by 1.74% year-on-year respectively [33]. - The WTI and Brent crude oil prices decreased by 12.22% and 12.02% year-on-year, while LME aluminum prices increased by 19.77% [33][35]. Company Announcements - Reiter announced plans to invest in a project for producing 100,000 sets of smart bathroom products, with an estimated total investment of 742 million RMB [37]. - Guanhao High-tech plans to transfer 100% equity of Huaxin Color Printing, with the transaction details yet to be confirmed [37]. Investment Recommendations - The furniture industry is expected to benefit from the recovery in the real estate sector and policies promoting upgrades, suggesting a focus on resilient and undervalued leading companies [46]. - The paper industry is entering a traditional demand peak in Q4, with price increases likely to lead to profit recovery, recommending attention to integrated forest-pulp-paper leaders [47].