The main review and outlook of the week: 1) In 2016, the retail sales of 100 key large-scale retail enterprises decreased by 0.2% year-on-year, of which the retail sales of clothing increased by 5.8% year-on-year, and the retail sales of cosmetics decreased by 1.9% year-on-year. 2) In October 2016, the retail sales of 50 key large-scale retail enterprises nationwide increased by 1.6% year-on-year. The retail sales of clothing increased by 6.4% year-on-year, and the retail sales of cosmetics decreased by 1.6% year-on-year.

Industry and company: 1. Pathfinder: Plan to make sports the second main business, focusing on sports fitness and sports training. 2. Hosa Fitness: The fitness industry will become more chained, branded and Internet-based in the future. 3. China Sports Fitness: The future income sources of the fitness industry will be diversified to improve average efficiency. 4. Hailan House: It is estimated that there will be more than 600 net openings this year. Designer cooperation models will continue to be launched, and inventory control has been effective. 5. Semir Apparel: E-commerce launches new brands this year and cooperates with Internet celebrities, and plans to quickly return 50% of products offline next year. 6. Cross-border communication: The company transferred 4.2% of its shares in Tongtuo Technology for RMB 83.56 million. The equity transfer premium is expected to increase the company's 2016 consolidated statement profit by approximately 38.56 million yuan. 7. Seven wolves: As Longling Investment was unable to complete the NEEQ listing and fixed increase procedures in the short term, the company decided to withdraw from Longling Investment, and Longling Investment returned a capital increase of 29.9 million yuan. 8. Qingdao Golden King: 1) The company will be accepted by the China Securities Regulatory Commission. 2) The company’s controlling shareholder, King King Transportation, released 19.49 million shares from the pledge, and then pledged 19.49 million shares to provide pledge guarantees for 220 million working capital loans, accumulatively pledged 86.99 million shares. 9. Huasi shares: Zou Hong resigned from the position of deputy general manager of the company. 10. Longzi shares: The controlling shareholder Shen Dongri pledged 6.2 million shares, which has pledged 52.7 million shares in total. 11. Lianfa Co., Ltd.: The company provided a mortgage loan of RMB 15 million to Jiangsu Siyou Cloth Industry, with a loan period of three years and an annual interest rate of 6%. 12. Youngor: 1) The company will continue to deposit the expired 150 million raised funds deposited as a certificate of deposit. 2) The company purchases 100 million yuan of wealth management products. 13. Aokang International: Aokang Investment, the controlling shareholder of the company, will postpone one year to repurchase the 13.5 million shares whose pledge has expired, with a total pledge of 107 million shares. 14. Jiansheng Group: The company suspended trading on November 15, 2016 due to plans for major asset acquisitions. 15. Gold Rabbi: Due to personal funding needs, the company's deputy general manager Sun Yu reduced his holding of 40,000 shares. 16. Xinur: Due to differences in transaction prices, the company's controlling shareholder, groom Xinur, terminated the transfer of his shares, and the company will resume trading on November 17. 17. Fu Anna: The company purchased 50 million yuan in wealth management products. 18. Lukang Culture: 1) The total amount of restricted stocks after adjustment is 9.04 million shares, and the repurchase price is adjusted from 5.9 yuan/share to 2.9 yuan/share; 2) the restricted stock incentive plan is implemented in the first phase of unlocking. The unlock ratio is 30%, totaling 2.46 million shares; 3) The company plans to repurchase and cancel the 847,000 restricted stocks granted but not unlocked by the incentive object for the first time due to the resignation of the incentive object, and pay the repurchase price A total of 2.447 million yuan, the total number of company shares will be changed to 890 million shares. 19. Xingye Technology: 1) The company received a government subsidy of 1.2 million yuan for innovation projects; 2) The company’s controlling shareholder Wanxing Investment will postpone the repurchase of 2.79 million shares of its pledge due for one year, with a total pledge of 40.27 million shares. 20. Bobaolong: The company issued 30.7 million shares to Beixin Ruifeng, Xinhua Fund, and Huatai Bai Rui at 32.2 yuan per share, raising funds of 988 million yuan, and will be listed on November 21. 21. Bangjie shares: Tao Jianwei, the controlling shareholder of the company, has pledged his 18.08 million shares to repurchase, with a repurchase period of one year, and a cumulative pledge of 99.02 million shares. 22. George White: Shareholder Qian Shaozhi released 8.1 million shares pledged, pledged 6.8 million shares, and pledged 6.8 million shares in total. 23. Hongdou shares: Nanjing Hongdou Real Estate, the holding company of the company, won the right to use a state-owned construction land in Nanjing for 460 million yuan.

The textile and apparel sector outperformed the market last week. Last week, the textile and apparel index rose by 1.24%, compared to the Shenwan A index rose by 1.10%. Among them, the textile manufacturing index rose by 2.25%, relative to the Shenwan A Index rose by 2.11%; the clothing and home textile index rose by 0.60%, relative to the Shenwan A Index rose by 0.46%.

Our point of view: At the end of the year, actively pay attention to companies that have a certain margin of safety in stock prices, and have requirements such as lifting the ban, and have mergers and acquisitions or forwarding companies. Continue to recommend: 1) Traditional leaders: Hailan House, Gelis, Luolai Life; 2) Small market value ambush varieties: Shandong Ruyi, Lianfa Co., Ltd.; 3) New model transformation: Pathfinder, Huasi, Langzi Shares; 4) Determine high growth: cross-border communication.