纺织服饰行业：纺织服装与轻工行业数据周报11.18-11.22

Investment Rating - The investment rating for the textile and apparel industry is "Buy" [4]. Core Viewpoints - The textile and apparel industry is expected to see stable growth due to high entry barriers and strong competitiveness, despite some short-term trade friction risks for leading companies. Key companies to watch include Nanshan Zhishang, Weigang Medical, and Zhejiang Natural in the upstream textile manufacturing sector, and Huali Group, Weixing Co., and Jiansheng Group in the downstream apparel and home textile sectors [4][3]. - The report highlights the positive impact of government subsidy policies on home textiles, which are expected to benefit leading companies like Fuanna and Mercury Home Textiles if the real estate market recovers [4][3]. Summary by Sections 1. Industry Market Review - During the period from November 18 to November 22, the Shanghai Composite Index fell by 1.91%, while the textile and apparel sector (SW) rose by 1.16%, ranking 4th among 31 primary industries [41][4]. - The light industry sector (SW) increased by 0.66%, ranking 9th [41]. 2. Industry Data Tracking - In October 2024, China's cotton sock export value reached $229 million, a year-on-year increase of 20.3%. For the first ten months of 2024, the export value was $2.216 billion, up by 0.1% year-on-year [4]. - The export value of seamless apparel in October 2024 was $1.309 billion, reflecting a year-on-year increase of 14.0%, with a total of $13.69 billion for the first ten months, up by 4.6% [4]. 3. Key Company Valuations and Financial Analysis - Key companies in the textile and apparel sector are rated as "Buy" with reasonable values projected for their stocks. For example, Bi Yin Le Fen has a target price of CNY 32.19, while Anta Sports is projected at HKD 100.69 [8]. - The report includes detailed financial metrics such as EPS, PE ratios, and ROE for various companies, indicating a generally favorable outlook for the sector [8].