Gelonhui, December 5, 丨 Sporting goods stocks surged, Xtrek International and Anta Sports rose 6%, Bosideng and Li Ning rose 4%, Taobo and China trends rose 3%, and 361 degrees rose 1%. As many parts of the country cool down, Meituan data shows that on November 30, takeout sales of down jackets nationwide increased by more than 440% over the previous month. As early as October, the Zheshang Securities Research Report showed that sales of down jackets increased 140% month-on-month during the National Day, and the GMV growth rate of Tmall flagship stores of brands such as Xuezhongfei and Bosideng was over 100%; data from JD also showed that national down jackets increased 112% year-on-year in October. Guotai Junan expects the cold winter to arrive, which is expected to catalyze fall and winter clothing sales. We recommend Bosideng, the leader in down jackets that go on sale in the fall and winter and is expected to benefit from low temperatures, sports leaders Li Ning, Anta Sports, and Xtrek International, as well as high-end clothing leaders Biin Lefen and Haobao.