天风：预计李宁等国货7月继续高增，调整提供上车机会

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天风：预计李宁等国货7月继续高增，调整提供上车机会

洋装鉴赏札记 2021-07-28

近期受极端政策恐慌情绪影响，AH运动产业链公司出现大幅调整，提供较好买入时点。一方面，本轮新疆棉事件后国货崛起，恰是民族自信的充分体现，近期中纪委点赞鸿星尔克更是激发全民支持国货热情，与互联网等行业具有完全不同底层逻辑；另一方面，以安踏李宁为代表的国货水准今非昔比，我们认为已能与耐克阿迪等一线品牌抗衡，背后是品牌沉淀、设计研发及营销供应链等全面提升；具体来看：【李宁】市场担心6-7月流水降速，...

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孙大总
·2021-07-28
Hao
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洁净
·2021-07-28
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- 孙大总:
  Hao
  2021-07-28
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referrerpolicy=\"no-referrer\">近期受极端政策恐慌情绪影响，AH运动产业链公司出现大幅调整，提供较好买入时点。<b>一方面，</b>本轮新疆棉事件后国货崛起，恰是民族自信的充分体现，近期中纪委点赞鸿星尔克更是激发全民支持国货热情，与互联网等行业具有完全不同底层逻辑；</p>\n<p><b>另一方面，</b>以安踏李宁为代表的国货水准今非昔比，我们认为已能与耐克阿迪等一线品牌抗衡，背后是品牌沉淀、设计研发及营销供应链等全面提升；具体来看：</p>\n<p><b>【李宁】</b>市场担心6-7月流水降速，我们预计6月小幅受南方疫情及618等因素干扰但折扣保持健康，同时7月流水全面恢复积极增长，整体持续高增。近几年李宁品牌重塑效果显著，通过设计+科技成功占领年轻消费者心智，制造话题带动客单及销量提升，预计将有效占领阿迪市场。</p>\n<p><b>【安踏体育】</b>国旗款带动品牌向上，渠道分级+DTC提效实现高质量成长。国旗货助力冠军店配合商务款、运动时尚款等升级品牌形象，提升店效同时带动多维城市商品区隔。DTC有效提高商品周转及售罄，打破原有各地分销分割状态，提升运营效率及经营利润率。三大事业群接力增长持续高增。</p>\n<p><b>【华利集团】</b>对标丰泰上半年业绩高增，同为Nike重要供应商中报表现可期。丰泰21H1收入同增21%，归母净利同增59%，今年以来运动市场需求强劲复苏趋势已定，终端高速增长，供应链持续受益。短期汇率及航运影响较小，客户及产品结构优化带动毛利率稳定增长。</p>\n<p><b>【申洲国际】</b>越南疫情影响可控，订单预期乐观。2021国内产能正常，海外虽受疫情波动但公司积极转移产能降低影响，在全球供应链紧张背景下，申洲稀缺制造溢价不断提升，坐拥顶级客户分享赛道增长红利。</p>","source":"lsy1627451438519","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>近期受极端政策恐慌情绪影响，AH运动产业链公司出现大幅调整，提供较好买入时点。一方面，本轮新疆棉事件后国货崛起，恰是民族自信的充分体现，近期中纪委点赞鸿星尔克更是激发全民支持国货热情，与互联网等行业具有完全不同底层逻辑；\n另一方面，以安踏李宁为代表的国货水准今非昔比，我们认为已能与耐克阿迪等一线品牌抗衡，背后是品牌沉淀、设计研发及营销供应链等全面提升；具体来看：\n【李宁】市场担心6-7月流水降速，...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/YJpZV9eFGtZLnL9v77E5jQ\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/36c94c5afd401e5546b2679333bd30b1","relate_stocks":{"02331":"李宁"},"source_url":"https://mp.weixin.qq.com/s/YJpZV9eFGtZLnL9v77E5jQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122709229","content_text":"近期受极端政策恐慌情绪影响，AH运动产业链公司出现大幅调整，提供较好买入时点。一方面，本轮新疆棉事件后国货崛起，恰是民族自信的充分体现，近期中纪委点赞鸿星尔克更是激发全民支持国货热情，与互联网等行业具有完全不同底层逻辑；\n另一方面，以安踏李宁为代表的国货水准今非昔比，我们认为已能与耐克阿迪等一线品牌抗衡，背后是品牌沉淀、设计研发及营销供应链等全面提升；具体来看：\n【李宁】市场担心6-7月流水降速，我们预计6月小幅受南方疫情及618等因素干扰但折扣保持健康，同时7月流水全面恢复积极增长，整体持续高增。近几年李宁品牌重塑效果显著，通过设计+科技成功占领年轻消费者心智，制造话题带动客单及销量提升，预计将有效占领阿迪市场。\n【安踏体育】国旗款带动品牌向上，渠道分级+DTC提效实现高质量成长。国旗货助力冠军店配合商务款、运动时尚款等升级品牌形象，提升店效同时带动多维城市商品区隔。DTC有效提高商品周转及售罄，打破原有各地分销分割状态，提升运营效率及经营利润率。三大事业群接力增长持续高增。\n【华利集团】对标丰泰上半年业绩高增，同为Nike重要供应商中报表现可期。丰泰21H1收入同增21%，归母净利同增59%，今年以来运动市场需求强劲复苏趋势已定，终端高速增长，供应链持续受益。短期汇率及航运影响较小，客户及产品结构优化带动毛利率稳定增长。\n【申洲国际】越南疫情影响可控，订单预期乐观。2021国内产能正常，海外虽受疫情波动但公司积极转移产能降低影响，在全球供应链紧张背景下，申洲稀缺制造溢价不断提升，坐拥顶级客户分享赛道增长红利。","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":803400445,"gmtCreate":1627453043387,"gmtModify":1703490260089,"author":{"id":"3582273772475665","authorId":"3582273772475665","name":"洁净","avatar":"https://static.tigerbbs.com/17f10759a3774fee9c78df903daa7359","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582273772475665","authorIdStr":"3582273772475665"},"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/803400445","repostId":1122709229,"repostType":4,"repost":{"id":"1122709229","pubTimestamp":1627451896,"share":"https://ttm.financial/m/news/1122709229?lang=&edition=fundamental","pubTime":"2021-07-28 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referrerpolicy=\"no-referrer\">近期受极端政策恐慌情绪影响，AH运动产业链公司出现大幅调整，提供较好买入时点。<b>一方面，</b>本轮新疆棉事件后国货崛起，恰是民族自信的充分体现，近期中纪委点赞鸿星尔克更是激发全民支持国货热情，与互联网等行业具有完全不同底层逻辑；</p>\n<p><b>另一方面，</b>以安踏李宁为代表的国货水准今非昔比，我们认为已能与耐克阿迪等一线品牌抗衡，背后是品牌沉淀、设计研发及营销供应链等全面提升；具体来看：</p>\n<p><b>【李宁】</b>市场担心6-7月流水降速，我们预计6月小幅受南方疫情及618等因素干扰但折扣保持健康，同时7月流水全面恢复积极增长，整体持续高增。近几年李宁品牌重塑效果显著，通过设计+科技成功占领年轻消费者心智，制造话题带动客单及销量提升，预计将有效占领阿迪市场。</p>\n<p><b>【安踏体育】</b>国旗款带动品牌向上，渠道分级+DTC提效实现高质量成长。国旗货助力冠军店配合商务款、运动时尚款等升级品牌形象，提升店效同时带动多维城市商品区隔。DTC有效提高商品周转及售罄，打破原有各地分销分割状态，提升运营效率及经营利润率。三大事业群接力增长持续高增。</p>\n<p><b>【华利集团】</b>对标丰泰上半年业绩高增，同为Nike重要供应商中报表现可期。丰泰21H1收入同增21%，归母净利同增59%，今年以来运动市场需求强劲复苏趋势已定，终端高速增长，供应链持续受益。短期汇率及航运影响较小，客户及产品结构优化带动毛利率稳定增长。</p>\n<p><b>【申洲国际】</b>越南疫情影响可控，订单预期乐观。2021国内产能正常，海外虽受疫情波动但公司积极转移产能降低影响，在全球供应链紧张背景下，申洲稀缺制造溢价不断提升，坐拥顶级客户分享赛道增长红利。</p>","source":"lsy1627451438519","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>近期受极端政策恐慌情绪影响，AH运动产业链公司出现大幅调整，提供较好买入时点。一方面，本轮新疆棉事件后国货崛起，恰是民族自信的充分体现，近期中纪委点赞鸿星尔克更是激发全民支持国货热情，与互联网等行业具有完全不同底层逻辑；\n另一方面，以安踏李宁为代表的国货水准今非昔比，我们认为已能与耐克阿迪等一线品牌抗衡，背后是品牌沉淀、设计研发及营销供应链等全面提升；具体来看：\n【李宁】市场担心6-7月流水降速，...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/YJpZV9eFGtZLnL9v77E5jQ\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/36c94c5afd401e5546b2679333bd30b1","relate_stocks":{"02331":"李宁"},"source_url":"https://mp.weixin.qq.com/s/YJpZV9eFGtZLnL9v77E5jQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122709229","content_text":"近期受极端政策恐慌情绪影响，AH运动产业链公司出现大幅调整，提供较好买入时点。一方面，本轮新疆棉事件后国货崛起，恰是民族自信的充分体现，近期中纪委点赞鸿星尔克更是激发全民支持国货热情，与互联网等行业具有完全不同底层逻辑；\n另一方面，以安踏李宁为代表的国货水准今非昔比，我们认为已能与耐克阿迪等一线品牌抗衡，背后是品牌沉淀、设计研发及营销供应链等全面提升；具体来看：\n【李宁】市场担心6-7月流水降速，我们预计6月小幅受南方疫情及618等因素干扰但折扣保持健康，同时7月流水全面恢复积极增长，整体持续高增。近几年李宁品牌重塑效果显著，通过设计+科技成功占领年轻消费者心智，制造话题带动客单及销量提升，预计将有效占领阿迪市场。\n【安踏体育】国旗款带动品牌向上，渠道分级+DTC提效实现高质量成长。国旗货助力冠军店配合商务款、运动时尚款等升级品牌形象，提升店效同时带动多维城市商品区隔。DTC有效提高商品周转及售罄，打破原有各地分销分割状态，提升运营效率及经营利润率。三大事业群接力增长持续高增。\n【华利集团】对标丰泰上半年业绩高增，同为Nike重要供应商中报表现可期。丰泰21H1收入同增21%，归母净利同增59%，今年以来运动市场需求强劲复苏趋势已定，终端高速增长，供应链持续受益。短期汇率及航运影响较小，客户及产品结构优化带动毛利率稳定增长。\n【申洲国际】越南疫情影响可控，订单预期乐观。2021国内产能正常，海外虽受疫情波动但公司积极转移产能降低影响，在全球供应链紧张背景下，申洲稀缺制造溢价不断提升，坐拥顶级客户分享赛道增长红利。","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5355639,"gmtCreate":1627454136408,"gmtModify":1663231607929,"authorId":4090139550819220,"author":{"id":4090139550819220,"idStr":"4090139550819220","authorId":4090139550819220,"name":"孙大总","avatar":"https://static.tigerbbs.com/8357281ae394d72bc85b1760b4f2f0ee","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":803400445,"type":1,"supId":0,"prevId":0,"content":"Hao","text":"Hao","html":"Hao"}],"langContent":"CN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":5,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}