Winner Medical(SZ:300888) SINOLINK SECURITIES·2025-04-20 10:23Investment Rating - The report suggests a positive outlook for the apparel sector, indicating potential investment opportunities as consumer confidence and spending gradually recover [1][10]. Core Insights - In March, retail sales showed a robust performance with a year-on-year growth of 5.9%, while apparel retail sales grew by 3.6%, slightly below the overall market due to adverse weather conditions affecting spring apparel sales [1][10]. - The report highlights that the recovery in consumer spending is supported by government initiatives, including consumption subsidies and a special action plan to boost consumption [1][10]. - The apparel sector is viewed as being in a recovery phase, with potential for further growth as temperatures rise in key cities, which is expected to enhance sales of spring and summer clothing [1][10]. Industry Data Tracking - Raw material prices remain stable, with 328 grade cotton priced at 14,902 RMB per ton, and the price of American cotton at 80.1 cents per pound [3][14]. - The report tracks various segments within the industry, noting that the sports and outdoor apparel sector is on an upward trend, while men's and women's apparel are stabilizing at the bottom [3][14]. Investment Recommendations - For apparel brands, the report recommends companies like Hailan Home, which is adapting to consumer trends and has strong profitability potential, and Anta Sports, which is expected to benefit from the recovery of major brands like Adidas and Nike [4][26]. - In the upstream manufacturing sector, the report suggests that leading textile manufacturers are well-positioned to withstand external uncertainties, with recommendations for companies such as Zhejiang Natural and Shenzhou International [4][26]. Market Review and Company Announcements - The textile and apparel sector saw a weekly increase of 1.57%, ranking 6th among 28 industry sectors [5][21]. - Key company announcements include Baolong Oriental reporting a revenue of 7.941 billion RMB, a year-on-year increase of 14.86%, despite a decline in net profit [5][31].