Continued Appreciation Of The RMB, The Prospect Of Textile Listed Companies Is Worrying.
At present, among the more than 170 listed companies that have disclosed quarterly reports, about 10 of the companies' performance is due to the appreciation of the renminbi and other reasons, resulting in a decline or even a loss in exports and overseas businesses. According to the statistics of the General Administration of customs, China's exports grew by 26.6% in January, while the export growth rate dropped to 6.5% in February. In January, -2 exports totaled 196 billion 990 million US dollars, an increase of 16.8% compared with the same period last year.
The standard share forecast declined by more than 50% in the first quarter. The main sewing equipment of the company increased by 18% last year, accounting for about 1/3 of its total business revenue. But in its 2007 annual report, the company disclosed that the continued appreciation and exchange losses made the company's financial expenses rise by 193.75% over the same period last year. ZOJE shares, which belong to the same industry, also declined in the first quarter net profit of 60%-80%.
In the textile and garment industry, Mei Xinda and black peony also experienced a similar "fate". Appreciation of the renminbi has made the company's performance worse. Mei Xinda accounted for more than 50% of foreign income. The appreciation of the local currency suppressed the growth of export revenue, and at the same time led to an increase in the company's financial expenses. The loss was expected to be 7 million -900 yuan in the first quarter. The black peony of the main denim and clothing is also expected to lose in the first quarter. Some industry researchers believe that on the one hand, the domestic textile industry is fiercely competitive. Meanwhile, the appreciation of the renminbi and the slowdown of the US economy make the export growth rate of the industry in a declining channel, and the prospect is not optimistic.
//cn.da
- Related reading
Wearing Shirts As T-Shirts? Hangzhou 100 Shirt Festival Released Shirt Trend
|- Management strategy | The Misunderstanding And Core Of Clothing Direct Shop Management
- Fashion Bulletin | Fashions And Sandals, Refreshing Your Feet In Summer.
- Local hotspot | Sichuan Fine Art Institute Fashion Design Graduation Show Staged A Visual Feast
- Association dynamics | High-End Business Men'S Wear Has Become Another Development Of Men'S Wear Industry In China.
- Dress culture | Viewing The Costume Changes Of Datong Women From Different Ages
- Information Release of Exhibition | Changshu'S Costumes Show "Forever South Of The Yangtze River"
- Instant news | South Korean Media Group Guangdong Line Has Asked Questions About Clothing Pformation And Upgrading.
- Guangdong | 深圳大浪時尚創意產業基地的華麗蛻變之路
- Market topics | Textile Raw Materials Market Continues To Decline, Enterprises Are Difficult To Survive
- Exhibiting knowledge | Marketing Skills Of Exhibition Organizers
- Shishi Brand Clothing Creates Magic Again
- Wearing Shirts As T-Shirts? Hangzhou 100 Shirt Festival Released Shirt Trend
- Analysis Of The Development Of Sewing Equipment Market In The Middle East
- Is Online Clothing Direct Selling A Flower Or A Trap?
- South African Ambassador To China Inspects Shiling Leather Industry
- Fur Company Smuggled Water Mink Fox Fur 300 Million Penalty 60 Million
- Italy FOOTHOLD -- Create A New Concept Of Simple And Fashionable Chinese Casual Men'S Wear
- Change The Painting! Fashion Art, Watercolor, Oil Painting, Clothing, Hot Clothing
- Kim Koala Holds The 2008 Spring Summer Conference
- The Second Hongkong International Fashion Underwear Exhibition Opens