纺织服装行业周报：12月社零增速有所改善，可选消费表现分化

Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Insights - December retail sales data shows improvement with a year-on-year growth of 3.7%, and retail sales excluding automobiles increased by 4.2%, indicating a recovery from November [3][17] - The textile and apparel industry index saw a rise of 3.43%, reflecting a rebound in the market, particularly among small and mid-cap stocks related to "Xiaohongshu" [8][3] - The report highlights a clear differentiation in optional consumption, with certain categories benefiting from policies like the old-for-new program, while others like jewelry and clothing saw declines [3][17] Summary by Sections Retail Sales Performance - In December, the total retail sales of consumer goods increased by 3.7% year-on-year, with online retail of physical goods growing by 6.5% [3][17] - Specific categories showed varied performance: jewelry sales decreased by 1%, cosmetics grew by 0.8%, and clothing and footwear fell by 0.3% [3][17] Market Trends - The textile and apparel sector is expected to remain active, driven by policy expectations and thematic concepts, with a gradual improvement in the fundamentals of leading companies as domestic policies focus on boosting internal demand [3][17] - The report suggests that leading export manufacturers with global competitiveness, such as Weixing Co., Shenzhou International, and Huali Group, are recommended for long-term investment [3][17] Recommended Stocks - The report recommends several stocks for investment: Weixing Co. (002003), Shenzhou International (02313), Huali Group (300979), Bosideng (03998), and Anta Sports (02020) [3][19] - In a declining market risk appetite, stocks like Semir Apparel (002563) and Hailan Home (600398) are considered worthy of attention as stable investments [3][19]