1）2021财年第三季度业绩：单季度收入同比增长5%，动荡环境中略超预期充分验证运营实力；2）分地区：货品短缺持续，北美和APLA（亚太和拉美）地区收入增长较快，大中华区收入降幅收窄至8%；3）经营情况：生产端恢复正常，运输时间恶化但公司情况好于行业，预计秋季货品供应将改善；4）未来展望：维持2022财年收入同比增长中单位数的指引，略微上调毛利率指引并下调销售管理费用指引；

During the first half of 2020 the Covid 19 outbreak had a global impact, affecting the furniture and mattress markets on both the demand and supply sides Innerspring mattresses holds the largest share of 32 7 in market followed by Memory foam 21 then latex Innerspring mattresses are preferred more due to inherent properties such as higher load bearing capacity and ease of adaptation to body postures In addition, The growing number of affluent consumers in emerging economies such as India, Brazil, and China drives up demand for top quality mattresses memory foam with innerspring technology

Personal protective equipment (PPE) includes various products like gloves, face masks, surgical gowns, and more. There is always a huge demand for PPE materials across the globe due to the developing healthcare infrastructure in developing countries and the increased requirement for safety measures in healthcare setups. In a few cases, the demand for PPEs is due to exceptional factors like disease outbreaks, pandemics, and epidemics. The world is exposed to multiple outbreaks and other disastrous infections. One such event occurred in 2019, which started as a simple respiratory infection, and later spread to more than 190 countries and killed millions of people across the globe. The COVID-19 pandemic is driving the demand for various PPE materials in healthcare settings. An important PPE material that is largely in demand during the pandemic, pre-pandemic, and post-pandemic, is medical face masks. This is one of the most essential materials used in various healthcare settings from hospitals, labs, research centers, ambulatory surgical centers, long-term care facilities, clinics, and more.

Respiratory masks (RM) are protective devices covering a part of the user’s face. They are designed to protect both the person who wears them and the immediate environment from breathable pollutants (respiratory poisons or bacterial/viral pathogenic organisms). Face masks can be classified as full masks, half, and quarter masks. While a full mask covers the whole face, a half mask fits from under the chin to above the nose, a quarter mask fits from the top of the nose to the top of the chin. The breathing resistance varies proportionally to the density of the mask material used.

春节期间，布伦特原油价格突破90 美元/桶，涤纶长丝POY、FDY、DTY 价格分别上调150、300 和250 元/吨。

A sleeping pillow is a support for the head used while sleeping on a bed. The pillow is a kind of sleep tool. Generally, the sleeping pillow could provide sleep comfort. From the understanding of modern medical research, human spine is a straight line from the front view, but three physiological curves from the side view. In order to protect the normal physiological neck bending protection, sleeping pillow should be used. Sleeping Pillow refers to a support for the head used while sleeping on a bed. It contains cotton pillow, down pillow, memory foam pillow, and others. The sleeping pillow industry is characterized by a large number of competitors, none of which are dominant. As raw materials are easily available and downstream market is wide, so manufacturers of sleeping pillow are distributed around the world. With the rapid development of economy and people's living standards gradually improved, global demand for sleeping pillow is increasing.

社零：受疫情后补偿性消费影响，21全年零售前高后低。2021年社会消费品零售额整体呈增长 趋势；上半年由于基数原因增速处于高位，4月份之后剪刀差逐渐收窄，全年社零增速水平相对 偏向稳定。 预计22年一二季度受基数效应影响有一定压力，下半年将得到缓解。22年零售数据波动将小于 21年，整体行业增长中枢回归到中长期稳态均速水平。全年来看，行业指数收益率良好。从全年行情来看，受益后疫情的消费恢复和4月份新疆棉 事件影响，服装指数在上半年尤其是二季度取得较好的超额收益机会。 ➢相对其他行业：纺织服装板块在全部行业中涨幅位于中游水平。对比历史来看属于行业相对 较好一年。

The functional requirements of sportswear depend on the intensity level of a wearer’s physical activity. For instance, sports such as tennis and soccer require players to wear sportswear with functional benefits such as cooling, sweat absorbing, and quick drying. The increasing participation in various sports is also driving the demand for such high active sportswear.