纺织服饰行业周报：冰雪消费持续升温，关注羽绒及滑雪产品销售表现

Investment Rating - The industry investment rating is maintained at "Overweight" [2] Core Viewpoints - The textile and apparel industry is experiencing a weak recovery in consumer sentiment, supported by policies aimed at boosting domestic demand, which is enhancing confidence in consumption [3] - The outdoor economy is driving high demand for sports apparel, suggesting a focus on high-certainty opportunities and high-growth segments [3] - The sports industry is recognized as a significant contributor to economic growth, with ongoing government support for high-quality development in sports apparel [4] Summary by Sections Market Review - In the week from December 2 to December 6, 2024, the A-share SW textile and apparel industry index rose by 1.82%, while the light industry sector increased by 1.23%. The CSI 300 index rose by 1.44%, and the Shanghai Composite Index increased by 2.33% [2] Textile and Apparel Industry - The overall consumption environment is showing signs of weak recovery, with policies aimed at expanding domestic demand boosting consumer confidence. The outdoor economy is stimulating high demand for sports apparel, indicating a focus on high-certainty opportunities and high-growth segments [3] - Notable developments include the potential acquisition of Woolrich by the brand report bird, which could enhance its presence in the high-end outdoor market [3] Sports Apparel - The sports industry is becoming a vital force for economic growth, with government initiatives promoting high-quality development in sports apparel. The demand for skiing equipment is increasing, with brands like Arc'teryx launching new products tailored for various skiing scenarios [4] Textile Manufacturing - The long-term growth logic for textile manufacturing includes overseas production shifts, market share increases, and enhanced core competitiveness. Companies such as Huali Group, Weixing Co., and New Australia Co. are recommended for attention [5] Light Industry - Favorable policies are catalyzing a recovery in the real estate sector, leading to increased consumer enthusiasm for home furnishings. The furniture manufacturing sector is showing steady revenue growth, with significant contributions from government subsidy policies [7] Export Chain - The U.S. is entering a rate-cutting cycle, and ongoing overseas replenishment demand is expected to benefit the light industry export chain, particularly in products like insulated cups and office furniture. Companies such as Jiangxin Home and Jiayi Co. are highlighted for their growth potential [9] Cross-Border E-commerce - The global e-commerce market is rapidly growing, with intensified competition among leading cross-border e-commerce platforms. Companies like Pinduoduo and SHEIN are noted for their growth potential in this sector [10]