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Investment Rating - The report maintains a "Positive" outlook on the textile and apparel industry, highlighting potential investment opportunities in brand apparel [2]. Core Insights - The textile and apparel sector has shown resilience, with the SW textile and apparel index rising by 0.9% from February 21 to 28, outperforming the SW All A index by 3.4 percentage points [3][4]. - Recent industry data indicates a slight decline in retail sales for clothing and textiles, with a total retail sales of 162.9 billion yuan in December 2024, down 0.3% year-on-year, although the decline has narrowed compared to previous months [3][18]. - Exports of textiles and apparel reached 28.07 billion USD in December 2024, marking an 11.1% increase year-on-year, with significant growth in textile yarns and fabrics [3][21]. Summary by Sections Market Performance - The textile and apparel sector outperformed the market, with notable gains in the apparel and home textiles index, which rose by 1.4% [3][4]. - Key stocks that performed well include Zhongyin Fashion (+15.9%), Hason Shares (+15.5%), and Huasheng Shares (+13.7%) [4]. Industry Trends - The report emphasizes the expected recovery in consumer demand, driven by government policies aimed at boosting consumption [6]. - Three main areas of focus for investment are identified: 1. Outdoor sports demand due to upcoming events [6]. 2. Home textiles and children's clothing, which are supported by ongoing policy encouragement [6]. 3. The integration of AI in apparel design and manufacturing, enhancing efficiency [6][7]. Technological Advancements - The textile industry is transitioning towards high-quality development, with a focus on new materials and AI applications [7]. - Companies are exploring dual business models, combining traditional textile operations with new growth areas such as computing and semiconductors [7]. Company Performance - Amer Sports reported a revenue of 5.183 billion USD for 2024, a year-on-year increase of 18%, with a significant profit turnaround [3][17]. - The report recommends several companies for investment, including sports brands like Anta Sports and Bosideng, as well as textile manufacturers like Huayi Group and Shenzhou International [3][6]. Export and Pricing Data - The report notes a 2.8% year-on-year increase in total textile and apparel exports for 2024, amounting to 301.1 billion USD [21]. - Cotton prices have shown a slight decline, with domestic cotton prices reported at 14,821 yuan per ton as of February 28, 2025 [23].