轻工制造行业周观点：地产端利好不断，家居行业景气度持续回暖

Investment Rating - The report maintains an "Overweight" rating for the home furnishing sector, indicating a positive outlook for the industry [4][5][6]. Core Insights - The real estate sector is experiencing continuous favorable policies, contributing to a recovery in the home furnishing industry's performance. Recent measures include an increase in the area eligible for reduced deed tax and the expansion of support for urban village renovations [8]. - In October, the national retail sales of furniture increased by 7.4% year-on-year, reflecting a positive trend in consumer demand [8]. - The report suggests focusing on leading companies in the customized home furnishing segment, such as Oppein Home, and in the soft furniture segment, such as Kuka Home and Mousse [8]. Summary by Sections Home Furnishing Sector - Favorable policies from the real estate sector are boosting the home furnishing market, with a notable increase in retail sales [8]. - The report highlights the importance of leading companies' market sensitivity and organizational management capabilities in capitalizing on market opportunities [8]. - Investment recommendations include Oppein Home, Kuka Home, and other leading brands in the home furnishing sector [8]. Paper Industry - The report notes price increases for various paper products, including a rise in corrugated paper prices by 30-60 RMB per ton [8]. - The domestic demand is recovering, and the report recommends focusing on industry leaders like Sun Paper [8]. - The prices for packaging paper are showing signs of recovery, with specific price points provided for different types of paper [8].