70% First Half Year Performance Of Listed Textile Enterprises

Despite the recent government support policies for textile and garment enterprises, the performance of most enterprises has not been satisfactory since the first half of the year announced by 47 listed textile and garment enterprises.

Among the 47 major textile listed companies, 34 of the first half of the year's performance declined, accounting for 72.34%, and the hardest hit areas were mainly concentrated in the fields of cotton spinning, chemical fiber and export processing garment enterprises. The number of enterprises with losses in the middle period reached 9, while the viscose industry, polyester industry and cotton textile industry suffered the most serious losses, with a deficit of 42.86%, 40% and 25% respectively.

In this regard, Wang Qian, editor in chief of the first textile network, believes that the profit margin of the newspaper can not really reflect the situation of the listed textile enterprises, because "some listed companies' profits include some other investments, such as equity pfer, real estate, electrolytic aluminum, or cross industry non main revenue, which largely obscure the difficulty of the main textile industry."

Wang said that from the perspective of the whole industry, except for the profit growth of some domestic brand clothing enterprises, the problem of declining profitability of textile enterprises has been very severe, and the survival crisis facing the industry is unprecedented.