Export saw sign of recovery.
Domestic retail market was likely to stabilize and rebound.
Listed companies saw increment in 2008 revenue yet not the profit.
Three main segment industries began to differentiate.
We recommend domestic famous brands, bellwethers in accessories and those with export advantages, including Shanghai Metersbonwe Fashion & Accessories (002269), Fujian Septwolves Industry (002029), Zhejiang Baoxiniao Garment (002154), Youngor Group (600177), Henan Rebecca Hair Products (600439), Zhejiang Weixing Industrial Development (002003), Shandong Jining Ruyi Woolen Textile (002193) and Anhui Huafu Top Dyed Melange Yarn (002042), thus “Overweight” rating is maintained for these counters.