轻工制造行业周观点：多地发布明年国补工作通知，造纸行业景气度回升

Investment Rating - The industry rating is "Recommended (Maintain)" [12] Core Viewpoints - The report highlights a recovery in industry prosperity, with multiple regions releasing positive consumption subsidy policies for the upcoming year [12] - The focus is on the domestic demand recovery and cyclical opportunities, with an emphasis on the home furnishing sector and paper industry [12] Summary by Sections Market Review - The light industry manufacturing index underperformed the CSI 300 index by 3.82 percentage points this week [59] - The home furnishing sector saw a decline of 1.76%, while the paper sector experienced a slight decrease of 0.16% [59] Key Price Trends - The average price of corrugated paper is 2928 yuan/ton, with a week-on-week increase of 0.4% [39] - The average price of boxboard is 3763 yuan/ton, also up by 0.4% week-on-week [39] - The average price of white card paper is 4276 yuan/ton, reflecting a week-on-week increase of 0.8% [41] - The average price of double glue paper is 5375 yuan/ton, with a week-on-week increase of 0.2% [43] Home Furnishing Sector Tracking - The report notes that several provinces have announced continued implementation of consumption subsidy policies, which are expected to boost demand in the home furnishing sector [12] - Recommended stocks in the home furnishing sector include leading companies such as Oppein Home, Sophia, and Zhijia Home [12] Paper Industry Insights - The report indicates an improvement in supply and demand dynamics within the paper industry, with a focus on profit recovery opportunities [12] - The average price of copper plate paper is 5512 yuan/ton, with a week-on-week increase of 0.4% [4] - The report suggests that the industry is experiencing upward price adjustments, particularly in cultural paper and packaging paper [12]