Our investment strategy for the 2009 textile and garment sector is: low matching upstream and export companies, super quality sports and casual wear Brand Company.

Adjusting the profit anticipation to fully reflect the adverse changes of the macro economy, the performance of the brand clothing companies will be differentiated, and the excellent companies are expected to maintain a good growth rate and gradually step out of the rising market independent of the big cities.

A shares focuses on investment opportunities for leisure brands, such as the seven wolves (slow growth in the first half of 2009) and the American border dress (with high valuation and liquidity risk caused by small circulation market value).

The value of the company is higher than the market value, and the dividend yield is high, which is a typical value investment opportunity.

In 2009, the growth rate of clothing consumption in the domestic market is expected to drop to around 10%.

The growth rate of brand clothing retail stores in 2009 is expected to be 5%.

China's clothing consumption still has much room for development. Clothing consumption has a good defensive function in the economic downturn cycle, especially sports and leisure wear categories.

Upstream and export related industries (textile, printing and dyeing, garment processing, etc.): it is difficult to boost in the medium and short term. In 2009, the growth rate slowed down to the level of unit numbers and even negative growth.

Yang Jing: editor in charge