Nearly 70% Of Textile Enterprises Reported Losses In Advance, And Senior Executives Were Busy With Cash Out

In well-known brands clothing At the same time, the textile industry, which is located at the front end of the industrial chain, is also having a hard time.

According to the latest data released by the Ministry of Industry and Information Technology, from January to May this year, textile enterprises above designated size achieved a total profit of 91.7 billion yuan, down 2.4% year on year, and the growth rate was 40.5 percentage points lower than that of the same period last year; The loss of enterprises above designated size reached 18.6%, 5.4 percentage points higher than that of the same period last year; The loss amount of loss making enterprises increased by 128.5% over the same period last year, and the growth rate increased by 122 percentage points over the same period last year. Among them, the profit of chemical fiber industry dropped by 50.1% compared with the same period last year, and that of cotton yarn processing industry dropped by 5.9% year on year. At the same time, the Ministry of Industry and Information Technology expects that the operating situation of the textile industry will be difficult to improve significantly in the second half of this year.

The difficulties faced by textile listed companies can also be seen from the interim report performance forecast that has been disclosed in succession. According to the iFinD data statistics of Flush (17.990,0.09,0.50%), as of July 19, among the 30 listed textile manufacturing companies that have issued interim performance forecasts, there are 20 companies with pre losses and pre decreases, accounting for nearly 70%.

Moreover, in the face of the downturn in the industry situation, many important shareholders of listed textile manufacturing companies began to reduce their holdings and fled, with the recent reduction of Fengzhu Textile (4.16, -0.14, - 3.26%) being the most typical.

Low demand and high cost

Large area pre loss and pre reduction of listed textile enterprises

According to the statistics of Flush iFinD, among the 31 textile manufacturing listed companies that have issued interim performance forecasts, a total of 14 listed companies have issued first loss or continued loss forecasts, and another 7 listed companies have made performance forecasts. Among them, Changshan Shares (3.51,0.00,0.00%) occupies the first place in the current loss list. The company announced that it is expected to lose 40 million yuan in the first half of this year, down 328.18% year on year, with earnings per share of -0.056 yuan.

In addition, according to statistics, the performance of six listed companies, including ST Avenue B, Shenzhen Textile A (7.50, -0.16, -2.09%), Golden Eagle Shares (5.14, 0.08, 1.58%), Weike Essence (6.20, 0.42, 7.27%) and China Resources Jinhua, decreased by more than 100%.

Changshan Shares is explaining loss The reason was that, under the combined influence of such adverse factors as weak international demand, sluggish domestic demand, increased international and domestic cotton price difference, and increased factor costs, the cost of textile products increased while the sales price significantly decreased year on year, and the profitability declined, causing losses in the company's main business.

According to the data from the report Analysis of China's Textile Industry in the First Half of 2012, the global textile and clothing imports of the United States in 2011 increased by 8.6% over the previous year, while only 3.4% from January to April this year. The demand of the EU dropped significantly. From January to May, China's exports to the EU fell by 11.2%. The domestic market is affected by high prices, lack of market confidence and other factors, and also shows a slowdown trend. Moreover, due to the increase of China's comprehensive factor cost and the improvement of textile competitiveness of neighboring countries, some purchase orders in the international market have gone to Southeast Asian countries.

At the same time, the price difference between domestic and foreign cotton is still increasing. As of July 5, the price difference has been about 4500 yuan/ton, which has seriously weakened the international competitiveness of China's textile industry. At present, the loss of cotton textile enterprises tracked by the China Cotton Textile Association has reached 40%, and the production reduction and shutdown of spinning enterprises with less than 30000 spindles have reached nearly 50%.

It is also worth noting that, in the case of a sharp slowdown in production and sales growth, high financing costs are becoming another bottleneck restricting the development of textile enterprises. Data shows that from January to May, the interest expenditure of textile enterprises above designated size increased by 28.6% year on year, 18.4 percentage points higher than the growth rate of main business income in the same period, while the growth rate of interest expenditure was only 6.8 percentage points higher than the growth rate of main business income in the same period last year.

　 The loss area will expand again in the second half of the year

Several textile enterprise executives cashed out and left

At the same time, the above analysis report of the Ministry of Industry and Information Technology predicts that textile enterprises will still be in a difficult situation in the second half of the year, textile and clothing exports will continue to grow at a low level, the growth rate of the overall efficiency of the industry will decline significantly compared with the previous year, the loss area of enterprises and the loss amount of loss making enterprises will expand, and more small, medium-sized and micro enterprises will face the risk of being eliminated.

In the face of the cold wave in the whole industry, many important shareholders of listed textile companies began to reduce their holdings and withdraw. According to the statistics of iFinD in Flush, as of July 19 this year, 8 textile manufacturing listed companies had significant shareholder reduction, and most of the reduction occurred after June, with a total amount of 410 million yuan.

The most typical is Fengzhu Textile. According to the company's announcement data, from July 11 to 18, 2012, its shareholder Zhenxing Industrial Company sold 13.6 million shares of Fengzhu Textile through the block trading system and centralized bidding system of Shanghai Stock Exchange, accounting for 5% of the company's total share capital. Previously, Zhenxing Industrial had sold 27.2 million shares of Fengzhu Textile through the block trading system of Shanghai Stock Exchange from February 27, 2012 to March 5, 2012, accounting for 10% of the company's total share capital. As the second largest shareholder of the original company, Zhenxing Industrial has reduced its shares by 15% since this year stock right The total amount is 238 million yuan.

The most concentrated group of cash out is the executives of textile enterprises. According to the data, 6 of the 8 textile enterprises in which significant shareholders reduced their holdings were executives and their relatives, with a total reduction of 103 million yuan. Among them, the cash out amount of two executives of HTC High Tech was the most significant. Vice Chairman Li Hong reduced 2.7 million shares in total, with a market value of up to 35.577 million yuan; Director Mao Zhilin reduced 2.3 million shares, with a market value of 30.444 million yuan and a total cash out of 66.021 million yuan.