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| Zhang Bin: facing the textile industry is not the exchange rate but vicious competition |
| Zhang Bin: facing the textile industry is not the exchange rate but vicious competition
A-share market ushered in the recent positive constant release, Tencent Finance invited the State Securities analyst Zhang Bin (microblogging) micro-interviews guest Tencent Finance 27, 15:30-16:30, as we interpret the fourth quarter of the A-share market investment strategy.
The appreciation of the renminbi is not conducive to the long-term development of the textile industry
Quotes on the textile and garment industry, Zhang Bin said that Tencent microblogging From a fundamental point of view, not to the worst of times, serious excess capacity for manufacturing class FangQi, business failures continue to close down the year before; for the retail class FangQi sustained growth.
RMB appreciation impact on the textile and garment industry, said Zhang Bin, unilateral appreciation of the textile industry is adversely affected. Relatively large impact on exports, but more is reflected in the long-term development, the biggest negative factors in the short-term cotton prices plummeted after-effects and serious excess capacity, industry consolidation. The manufacturing class FangQi Lutai, Huafu color spinning, Air China shares, most companies in the industry are manufacturing class, but there are a lot of enterprise diversification. Adverse impact of the appreciation of the industry is the medium to long term, the biggest trouble is three, a serious excess capacity, a raw material is cotton headed plummeted to the formation of the finished goods inventory backlog, a high-priced raw materials and operating costs push up the price of suppress domestic consumption demand. He has been optimistic about the domestic textile and apparel retail enterprises, such as the seven wolves, Joeone, Carolina, Anna Fu, Meng Jie, Wei magnitude. Fourth quarter, for the manufacture of garments businesses, business is still difficult to improve, mainly repeatedly mentioned the cost pressures and overcapacity, as well as lack of demand and other reasons; for retail garment enterprises, to maintain rapid growth before. Appreciation for enterprises, is not the most critical factor, and its adverse effect is gradually emerging.
For the apparel industry market in the fourth quarter, Zhang Bin winter clothing due to high unit price, the amount of sales the highest annual "spring" of the industry should refer to the fastest growing. May summer listed the case from the experience and logical point of view, is the full-year market benchmark. Domestic textile and apparel retail sales growth fell slightly this year, this momentum until the first half of next year to stop. His most promising retail sector, although the overall growth rate of decline, but the listing of leading is good.
Some friends mentioned a saying: the textile industry is not facing the RMB exchange rate issue, but industry vicious competition. In this regard, Zhang Bin said very much agree. Industry is in urgent need for integration, and hoped that the country will not break the industry consolidation process, market factors play its due role. If the past few years to complete the consolidation in the industry, an appropriate increase in the degree of concentration of the industry, long-term point of view, is conducive to enterprise development Weixing, Lutai.
Investment strategy for the textile and apparel industry, Zhang Bin said Tencent microblogging, textiles and clothing is a perfectly competitive industry, retail companies need to research investment ideas from the bottom up, you need to focus on the viability of corporate management, so from I do not quite agree with the top down to find the so-called segments. Listed companies, I am optimistic about the excellent texture, and sound management of the company. | | | Source:Ling Hu Clothing (ribbon) Time:2011/9/8 15:14:12 |  |
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