(16.66 billion yuan, + 16.91%) are a new high. Review of the past five years in the domestic sports shoes and apparel market (channel Over the expansion of stocks to high) outside (foreign brands to seize the Chinese market) under the plight of the storm, Anta through multi-brand strategy, comprehensive sports marketing to build the first domestic sports brand, through the retail strategy to break out, the company continued to good business indicators, The income end of the breakthrough billions of scale, as the domestic sporting goods industry is absolutely leading at the same time in the management of the ability to control the background of the company's profitability is not only higher than other domestic brands or even higher than Nike, Adidas and other overseas leaders (2015 net profit rate: Anta 18.8% , Nike11.6%, Adidas3.7%).

Fashion frontier: ①Victoria'sSecret same-store sales are expected to drop 20%. ②EspritHoldings2017 first half of the fiscal year to continue to turn around, as of December 31, 2016 2017 first half of fiscal year, Esprit Global net profit of 61 million Hong Kong dollars (238 million yuan a year earlier loss). ③ Avon low performance in the fourth quarter of 2016, income fell 2.4% to 1.568 billion US dollars, of which skin care products were flat, slightly increased perfume 1%, make up with 2%. ④ Dieeers diamond jewelry retailer Forevermark2016 annual sales of 1 billion US dollars, there are 2,000 stores around the world, is expected to increase the number of stores in 2017 10%. ⑤ The investment group, comprising Bain Capital, BowStreet and AdamaPartners, has completed the acquisition of BlueNile at $ 40.75 per share, all in cash, with a total amount of $ 500 million.

Investment Strategy. Focus on the two main lines to grasp the investment opportunities: 1. Consumer upgrade process outbreak of emerging areas, market segments, and cutting-edge brand; 2. Industry chain links Excellent operators, resource card holders, and group operations of industry integrators The The core recommended song thinking, the tide Acer, Qingdao King, the new wild textile, search in the special, focusing on Senma clothing, Hailan home, nine animal husbandry king, psychic jewelry, Gang Tai Holdings, Lutai A.