According to the BOC Securities Research Report, China's textile and garment industry as a whole is recovering in 2023, while exports are bottoming out. Looking forward to 2024, as consumer confidence and overseas demand continue to improve, we are optimistic about the retail and export performance of clothing. The proposal focuses on three main lines: clothing brands that have gone through cycles under fluctuations in domestic demand, sportswear that has escaped difficulties and entered a reasonable allocation range, and textile manufacturing leaders whose orders are expected to reach an inflection point.