汇丰银行-xx纺织品市场-china textiles ＆ footwear positive read-across from regina miracle-20170629-hsbc.pdfVIP

Flashnote 29 June 2017   China Textiles Footwear EQUITIES TEXTILES, APPAREL LUXURY GOODS Positive read-across from Regina Miracle China Regina Miracle reported FY March-17 results and commented Scott Chan*, CFA positively on orders growth Analyst, Consumer Retail Research The Hongkong and Shanghai Banking Corporation Limited scotttkchan@.hk Commentary over L Brands and Puma positive to Pacific +852 3941 7005 Textiles and Shenzhou, in our view Erwan Rambourg Global Co-Head Consumer Retail Research Our key pick in the space is Shenzhou (Buy, TP HKD56.80) HSBC Securities (USA) Inc. erwanrambourg@ +1 212 525 8393 Regina Miracle (2199 HK, non-rated) reported FY17 (YE: March) results on 28 June. Karen Choi* Net profit was down 78% on the