BOHAI SECURITIES·2026-01-19 10:47Investment Rating - The investment rating for the light industry manufacturing and textile apparel sectors is "Neutral" [5][52]. Core Insights - The report emphasizes the cultivation of service consumption, with sports events and IP+ consumption expected to benefit directly from new policies aimed at boosting service consumption [4][51]. - Recent government measures, including the "Several Measures to Promote the Quality Improvement and Efficiency Enhancement of the Service Industry" in Shanghai, aim to stimulate service consumption and enhance supply quality [12][51]. - The report highlights the expected performance of key companies, with Jia Mei Packaging forecasting a decline in net profit for 2025 by 43.02%-53.38%, while Wo Le Home is expected to see a growth of 40.78%-56.42% in the same period [41][42]. Industry News - The State Council is focusing on accelerating the cultivation of new growth points in service consumption, particularly in sectors like transportation, home services, performances, and sports events [4][12]. - The Shanghai government has introduced 28 measures targeting six key industries to enhance service quality and stimulate consumption [12][51]. Important Company Announcements - Jia Mei Packaging anticipates a significant decline in net profit for 2025, projecting a profit of 85.44 million to 104.42 million yuan, a decrease of 43.02%-53.38% year-on-year [41]. - Wo Le Home expects a net profit increase for 2025, estimating a profit of 171 million to 190 million yuan, representing a growth of 40.78%-56.42% year-on-year [41]. Market Review - From January 12 to January 16, the light industry manufacturing sector underperformed the CSI 300 index by 0.54 percentage points, while the textile apparel sector outperformed it by 0.02 percentage points [2][42]. - The light industry manufacturing index decreased by 1.11%, while the textile apparel index decreased by 0.55% during the same period [2][42]. Weekly Strategy - The report suggests continuous attention to sectors benefiting from the new service consumption policies, particularly in sports equipment, athletic apparel, and related fields [4][51].