CITIC SEC's Research Reports indicate that the pressure on Clothing consumption is expected to improve quarter-on-quarter in the fourth quarter of 2024, while relevant consumer subsidy policies are expected to boost the sales of home textile companies in the fourth quarter. Looking ahead to 2025, ongoing macro stimulus policies are expected to continue to enhance the consumer environment, suggesting attention to the recovery of each brand's consumption; the growth rate of sales in sports brands is generally accelerating quarter-on-quarter in the fourth quarter, recommending attention to each company's annual profit achievements and high-growth sectors such as outdoor sports, niche brands, and cost-effective consumption; in the Textile Manufacturing Sector, quality textile manufacturing enterprises are expected to achieve high certainty growth in performance for the whole year of 2024, meanwhile, some leading OEM companies have positive outlooks for order demand in the first half and the entire year of 2025, suggesting to focus on undervalued quality leading companies.

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中信证券:制造龙头高确定性成长,关注品牌服饰复苏趋势
CITIC SEC: Leading manufacturers have high certainty in growth, pay attention to the recovery trend in Clothing.
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