老铺黄金发布2024年正面盈利预告，预计净利润实现14.0-15.0亿元

Investment Rating - The textile and apparel industry maintains a rating of "Synchronize with the market - A" [1] Core Views - The report highlights the positive profit forecast from Laopu Gold for 2024, expecting a net profit of 1.4-1.5 billion yuan, representing a year-on-year growth of 236%-260% [2][13] - The growth in net profit is attributed to the expansion of brand influence, significant revenue growth from existing stores, continuous product optimization, and an increase in the number of stores [3][14] Summary by Sections Industry Performance - The textile and apparel sector underperformed the market, with a decline of 0.91% compared to a 1% increase in the CSI 300 index [7][15] - The PE-TTM for the textile manufacturing sector is 20.68, while for the apparel sector it is 22.11, indicating varying levels of valuation within the industry [19] Company Observations - Laopu Gold's same-store revenue increased by 104.2% in the first half of 2024, with online channel revenue growing by 138.9%, accounting for 11.1% of total revenue [2][13] - The company has created over 1,800 original designs and holds numerous patents, indicating a strong focus on innovation [3][14] Market Dynamics - Nike and SKIMS launched a new women's brand, NikeSKIMS, aimed at revolutionizing the fitness and sportswear industry [5][42] - Moncler Group reported a 4% increase in total revenue for 2024, with a strong performance in the Asia-Pacific region, particularly in mainland China [6][46] Investment Recommendations - The report suggests focusing on three investment lines within the textile manufacturing sector, including companies like Yuyuan Group and Shenzhou International, which are expected to benefit from reduced inventory pressure and stable sales outlooks [10] - In the brand apparel sector, it recommends companies like Anta Sports and 361 Degrees, which are well-positioned in the outdoor apparel market [10]