Last Year, A Large Loss Of Chemical Fiber Companies Hit A Huge Loss Last Year.
China's largest modern chemical fiber and chemical fiber raw material production base, Yizheng chemical fiber (600871, SH) released its annual report on 1, the annual report mentioned that the company lost 1 billion 645 million yuan in 2008, while Jilin chemical fiber (000420, SZ) also mentioned in the recent performance notice that in 2008, the company or loss 350 million to 370 million yuan.
In 2008, the net profit of the chemical fiber industry was much lower than that of the previous year. According to the statistics of China Chemical Fiber Industry Association, in 2008 1~8, the domestic chemical fiber industry realized a total profit of 4 billion 713 million yuan, a sharp decrease of 47.1% compared to the same period last year. The deficit of deficit companies was 4 billion 126 million yuan, up 1.2 times compared with the same period last year. The total industry deficit reached 24.43%, up 5.6 percentage points compared with the same period last year.
In 2008, Nanjing chemical fiber realized operating income of 367 million 258 thousand and 800 yuan, down 50.22% compared to the same period last year, and realized net profit of 2 million 89 thousand and 400 yuan, down 94.67% compared to the same period last year. Lianhua synthetic fiber has also released its performance forecast. It is expected that the company will lose 35 million yuan in 2008.
Some analysts believe that the recession of the upstream and downstream industries of the chemical fiber industry in 2008 has led to a decline in the performance of the chemical fiber industry.
Wu Zhaohui, Yizheng chemical fiber secretaries, said in an interview with the daily economic news, "in the first half of 2008, the domestic credit crunch made the downstream textile industry limited in liquidity, and business development was more difficult. Coupled with the reduction of export tax rebate, sales of textiles have also been greatly affected. In the second half of the year, the lack of overseas and domestic market demand led to the predicament of the textile industry.
The impact of oil in upstream industries of chemical fibre should not be overlooked. The sharp fluctuation of international crude oil prices since the beginning of 2008 has a great impact on the chemical fiber industry, which has increased the difficulty of judging and operating raw material prices, and has increased the business risk of enterprises.
"The overall chemical fiber industry in 2008 is not very good." Xiao Hui, an analyst with the joint securities and chemical industry, pointed out to the "daily economic news" that "although demand is now relatively stable, overcapacity is very serious."
The first textile editor, Wang Qian, put forward his own view on the development of chemical fiber industry: "on the one hand, enterprises should reduce their own cost as much as possible, and on the other hand, we should develop product structure and develop products with high added value." But Xiao Hui said: "the chemical fiber industry is a mature industry, the cost of enterprises is very difficult to substantially reduce."
Xiao Hui further stressed: "the profitability of the chemical fiber industry is determined by the relationship between supply and demand. Too much capacity is the root cause of losses. If supply can be compressed to reduce some enterprises, the demand will be relatively stable.
Editor in chief: Xu Qiyun
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