纺织服装行业2025年投资策略：六大关键词：贸易摩擦，第二曲线，品牌复苏，家纺回暖，户外趋势，市值管理

Investment Rating - The textile and apparel industry is rated as "Buy" [2] Core Insights - The report highlights six key themes for 2025: trade friction, second curve, brand recovery, home textile rebound, outdoor trends, and market capitalization management [2] - As of November 15, 2024, the textile manufacturing and apparel sectors have underperformed compared to the CSI 300 index, with changes of -6.1% and -11.7% respectively, while the CSI 300 increased by +15.7% [2][91] - In October 2024, textile exports increased by 16.1% year-on-year, while apparel exports rose by 8.1% [99] Summary by Sections 1. Review of the Textile and Apparel Industry from Early 2024 - The textile manufacturing and apparel sectors have shown negative performance compared to the CSI 300 index, with textile manufacturing at -6.1% and apparel at -11.7% [91] - The textile export value in October 2024 was $12.39 billion, a 16.1$13.09 billion, an 8.1% increase [99] 2. Investment Strategy for the Textile and Apparel Industry in 2025 - The report suggests focusing on leading companies in the textile manufacturing sector that are exploring new products and markets [2] - It is recommended to pay attention to companies involved in mergers and acquisitions aimed at industry consolidation and new productivity developments [2] 3. Key Company Analysis - A-share companies to watch include Huayi Group, Weixing Co., and Jiasheng Group, among others [2] - Hong Kong-listed companies of interest include Shenzhou International and Anta Sports [2]