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Textile and apparel: differentiation trend will be more obvious Recommendation 2 strands

 The overall point of view: clothing stocks within the plate, differentiation trend will be more obvious. Logical combing industry investment Textile industry level, is expected to raw material market prices weak downward, the stable growth of production and sales of key enterprises, mass effect basically stable operation, short in the medium term, cotton textile enterprises have configuration type investment value; Medium to long term, as the cotton policy adjustment, the textile industry is expected to have favorable opportunity, leading enterprises will benefit. Clothing industry level, domestic market as a whole, there is no obvious improvement, but presents the structural differentiation trend: (1) the rural consumer market growth is expected to continue to rise, but the town market growth is slowing; (2) the shopping channel is still high growth, growth is slowing but physical channel; (3) the downturn in the market as a whole but new consumer needs and expectations are. Differentiation trend of future clothing stocks profit is expected to more obvious: (1) the depth of the industry transition, breed more blind spot of consumption and business opportunities, such as double tenth red one, balance treasure, micro letter

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