纺织与服装行业周报：24H1多家制造企业净利高增部分企业提升股东回报

海通证券股份有...08-28

中报陆续披露，制造&品牌均有亮点。①制造：头部企业24H1 净利高增：华利集团/ 伟星股份/ 九兴控股/ 裕元集团24H1 归母净利润分别同比增29%/38%/65%/121%；②品牌：Saucony、始祖鸟、Salomon 品牌大中华增速亮眼，特步、361 度、李宁电商表现更优；③股东回报方案值得关注：九兴控股宣布三年内回馈1.8 亿美元现金，晶苑国际派息率增36pct，特步国际派发特别股息，...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2462176326?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2024-08-28 09:32","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2462176326","market":"hk","top_or_hot":-1,"title":"纺织与服装行业周报：24H1多家制造企业净利高增 部分企业提升股东回报","media":"海通证券股份有...","content":"<div>\n<p>中报陆续披露，制造&品牌均有亮点。①制造：头部企业24H1 净利高增：华利集团/ 伟星股份/ 九兴控股/ 裕元集团24H1 归母净利润分别同比增29%/38%/65%/121%；②品牌：Saucony、始祖鸟、Salomon 品牌大中华增速亮眼，特步、361 度、李宁电商表现更优；③股东回报方案值得关注：九兴控股宣布三年内回馈1.8 亿美元现金，晶苑国际派息率增36pct，特步国际派发特别股息，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082809360695ca99e6&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>纺织与服装行业周报：24H1多家制造企业净利高增 部分企业提升股东回报</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n纺织与服装行业周报：24H1多家制造企业净利高增 部分企业提升股东回报\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-28 09:32 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082809360695ca99e6&s=b><strong>海通证券股份有...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>中报陆续披露，制造&品牌均有亮点。①制造：头部企业24H1 净利高增：华利集团/ 伟星股份/ 九兴控股/ 裕元集团24H1 归母净利润分别同比增29%/38%/65%/121%；②品牌：Saucony、始祖鸟、Salomon 品牌大中华增速亮眼，特步、361 度、李宁电商表现更优；③股东回报方案值得关注：九兴控股宣布三年内回馈1.8 亿美元现金，晶苑国际派息率增36pct，特步国际派发特别股息，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082809360695ca99e6&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0620787316.HKD","symbol_name":"HSBC GIF ASIA EX JAPAN EQUITY SMALLER COMPANIES \"AD\" (HKD) INC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082809360695ca99e6&s=b","article_id":"2462176326","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2024082809360695ca99e6&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2462176326","pubTimestamp":1724808777,"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"中报陆续披露，制造&品牌均有亮点。多家制造企业中报净利高增。24H1 华利集团/伟星股份/九兴控股/裕元集团归母净利润分别同比增29%/37.8%/65%/120.6% ， 归母净利率16.4%/18.1%/11.9%/4.6%，同比提升0.6/1.6/4.2/2.6pct。我们判断制造企业净利高增主因产能利用率随订单回暖提升，经营杠杆改善。Salomon鞋服24H1 在中国增长良好，Q2 中国店铺数较Q1 末增24.8%，预计H2 店铺数将增47.1%。伟星股份自2007 年以来首次宣派年中现金分红。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"LU0620787316.HKD":"HSBC GIF ASIA EX JAPAN EQUITY SMALLER COMPANIES \"AD\" (HKD) INC","BK1512":"体育用品","LU0082770016.USD":"HSBC GIF ASIA EX JAPAN SMALLER CO. \"AD\" INC","02331":"李宁","01836":"九兴控股","01368":"特步国际","LU0082770016.SGD":"HSBC GIF ASIA EX JAPAN EQUITY SMALLER COMPANIES \"AD\" (SGD) INC","LU0164939612.USD":"HSBC GIF ASIA EX JAPAN SMALLER CO. \"AC\" ACC","BK1168":"鞋类","BK1583":"高瓴概念","BK1502":"双十一"},"translate_title":"Textile and Apparel Industry Weekly Report: Many manufacturing companies saw high net profits increase in 24H1, and some companies increased shareholder returns","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01836":0.9,"02331":0.9,"01368":0.84},"content_text":"中报陆续披露，制造&品牌均有亮点。①制造：头部企业24H1 净利高增：华利集团/ 伟星股份/ 九兴控股/ 裕元集团24H1 归母净利润分别同比增29%/38%/65%/121%；②品牌：Saucony、始祖鸟、Salomon 品牌大中华增速亮眼，特步、361 度、李宁电商表现更优；③股东回报方案值得关注：九兴控股宣布三年内回馈1.8 亿美元现金，晶苑国际派息率增36pct，特步国际派发特别股息，伟星股份首次宣派中期股息。多家制造企业中报净利高增。24H1 华利集团/伟星股份/九兴控股/裕元集团归母净利润分别同比增29%/37.8%/65%/120.6% ， 归母净利率16.4%/18.1%/11.9%/4.6%，同比提升0.6/1.6/4.2/2.6pct。华利集团和伟星股份在Q2 基数走高情况下，保持双位数增长，华利集团Q1/Q2 归母净利润增63.7%/11.9%，伟星股份Q1/Q2 归母净利润增45.2%/36.2%。裕元集团Q2 较Q1 提速，Q1/Q2 归母净利润增96.6%/157.8%。我们判断制造企业净利高增主因产能利用率随订单回暖提升，经营杠杆改善。品牌端线上线下仍有增长亮点。以Saucony 为主的特步国际专业运动分部24H1收入同比增72.2%，受惠于同店收入双位数增长+线上销售稳健。特步主品牌/361度/李宁电商收入实现较快增长，分别同比增20+%/16.1%/11.4%。Amer Sports大中华收入增长23Q3 以来逐季提速，24H1大中华地区收入同比增52.4%。24H1科技服饰（始祖鸟为主）/户外性能（Salomon 为主）收入增39.3%/8.2%。Salomon鞋服24H1 在中国增长良好，Q2 中国店铺数较Q1 末增24.8%，预计H2 店铺数将增47.1%。九兴控股、晶苑国际、特步国际、伟星股份股东分红和回报提升。九兴控股拟在70%派息率基础上额外于24-26 年以特别股息或回购方式回馈股东最高1.8 亿美元现金，过去12 月股息率叠加每年额外现金回报率达13.7%。晶苑国际宣派中期股息13.8 港仙，派息率61%，同比提升36pct。特步国际中期派息率维持50%，宣派特别股息每股0.447 港元，假设全年维持分红比率50%，24 股息率预计达14%。伟星股份自2007 年以来首次宣派年中现金分红。投资建议。我们认为当前纺织服装板块应关注三条主线：1）虽然关税政策目前具有不确定性，但仍然看好具有①拓展优质客户、②供应商份额提升、③盈利水平提升等阿尔法逻辑的优质纺织制造企业。建议关注华利集团、九兴控股、申洲国际、伟星股份、新澳股份。2）国务院印发《国务院关于促进服务消费高质量发展的意见》明确指出要激发改善型消费活力，重点促进旅游消费、体育消费等，利好优质运动品牌与全球箱包龙头。建议关注安踏体育、李宁、特步国际、新秀丽。3）我们认为市场对业绩确定性的偏好持续，继续看好低估值+高股息投资主线。建议关注富安娜、江南布衣、海澜之家。风险提示。消费者喜好改变，行业竞争加剧，经济下行零售环境疲软。","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2462176326"}

纺织与服装行业周报：24H1多家制造企业净利高增 部分企业提升股东回报

精彩评论

纺织与服装行业周报：24H1多家制造企业净利高增部分企业提升股东回报