西山SEO推广首选：2025年户外运动品牌与纺织制造行业趋势分析
谷歌推广该谁负责？招商证券最新行业报告给出答案
Who Should Be Responsible for Google Promotion? CICC's Latest Industry Report Provides Answers
智通财经APP获悉，招商证券最新研报指出，户外运动行业持续保持高景气度，2024年户外及运动品类表现显著优于传统服饰。展望2025年，随着增量政策不断出台，消费市场有望回暖，优质中高端品牌将迎来复苏机遇。
According to CICC's latest research report, the outdoor sports industry continues to maintain high prosperity, with outdoor and sports categories performing significantly better than traditional apparel in 2024. Looking ahead to 2025, with the continuous introduction of incremental policies, the consumer market is expected to recover, and high-quality mid-to-high-end brands will usher in recovery opportunities.
品牌服饰板块：户外运动领跑，中高端品牌蓄势待发
Brand Apparel Sector: Outdoor Sports Lead the Way, Mid-to-High-End Brands Poised for Growth
2024年数据显示：
• 户外板块涨幅+14.81%
• 运动鞋服+11.33%
• 家纺板块+7.41%
而中高端女装(-1.46%)和男装(-17.33%)板块则面临压力。
2024 data shows:
• Outdoor sector growth +14.81%
• Sports footwear +11.33%
• Home textiles +7.41%
While mid-to-high-end women's wear (-1.46%) and men's wear (-17.33%) sectors face pressure.
纺织制造板块：出口稳中向好，优质龙头持续受益
Textile Manufacturing Sector: Steady Export Growth, Quality Leaders Continue to Benefit
2024年初至今，在补库需求推动下，纺织制造龙头订单及估值持续修复：
• 成衣成鞋制造板块平均涨幅61%
• 制鞋细分领域涨幅达72%
• 辅料涨幅25%
Since the beginning of 2024, driven by inventory replenishment demand, orders and valuations of leading textile manufacturers have continued to recover:
• Average growth of 61% in garment and footwear manufacturing
• 72% growth in footwear manufacturing
• 25% growth in accessories
投资建议：重点关注三大方向
Investment Recommendations: Focus on Three Key Areas
1. 品牌端：安踏体育(02020)、波司登(03998)、报喜鸟(002154.SZ)、富安娜(002327.SZ)
2. 制造端：华利集团(300979.SZ)、伟星股份(002003.SZ)、九兴控股(01836)
3. 数字营销：西山SEO推广、谷歌推广等数字营销服务商
1. Brand Side: Anta Sports (02020), Bosideng (03998), Baoxiniao (002154.SZ), Fuanna (002327.SZ)
2. Manufacturing Side: Huafu Fashion (300979.SZ), Weixing Shares (002003.SZ), Stella International (01836)
3. Digital Marketing: Xishan SEO promotion, Google promotion and other digital marketing service providers
风险提示：内需不足、库存积压、外需不足等风险因素需警惕
Risk Warning: Be alert to risk factors such as insufficient domestic demand, inventory backlog, and insufficient external demand
