Printing And Dyeing Industry Becomes The Bottleneck Of Clothing Upstream
Printing and dyeing will be completed
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1H09, the bottleneck of demand recovery in upstream industry chain, began.
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drive
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Industry recovery, and then drive
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Upstream industry chain demand growth; environmental barriers led to the printing and dyeing industry to enter the threshold to improve, there is basically no new batch of printing and dyeing enterprises in the near future, 07 years since the adjustment of printing and dyeing industry has increased the concentration of the industry, making the industry will become.
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The bottleneck of demand recovery in upstream industry chain is that the overall supply and demand situation of the industry is better.
The largest printing and dyeing enterprise in China, which has a complete industrial chain, has 800 million meters of printing and dyeing capacity, and 19 million meters of weaving, 500 million degrees of electricity, 3 million 300 thousand tons of steam and 10 thousand tons of dyestuff, which constitute a complete printing and dyeing industry chain.
Printing and dyeing business adopts the mode of commissioned processing and processing fees to reduce operational risks.
Adjust the product structure, increase the gross profit margin of printing and dyeing industry, make the supply and demand situation of printing and dyeing industry better, and increase the cost of printing and dyeing processing.
The increase in printing and dyeing processing fees was the main reason why the gross margin level of the company rose from 16.32% in the two quarter to 19.08% in 4-6%.
Shipping business has become a new growth point. The controlling shareholder has 40 thousand tonnes of freight capacity to meet its own demand of about 1 million tons of coal pportation, and has about 1 million tons of capacity to pport coal in the surrounding areas.
In the 09 year of September, the shipping price was only 30 yuan / ton. At present, the shipping price has risen to around 50-60 yuan / ton, and the freight rate is expected to be about 60 yuan / ton in 2010.
It is estimated that shipping revenue will exceed 25 million yuan in 09 years and 110 million yuan in 10 years.
09-11, EPS0.40, 0.54, 0.66, gave "recommended" rating environmental barriers, so that the printing and dyeing industry will become
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The bottleneck of demand recovery in the upstream industry chain is to increase the processing fees, increase the gross profit margin of printing and dyeing business, and promote the steady growth of business performance by shipping products, and shipping business will become a new profit growth point.
We expect EPS to be 0.40, 0.54, 0.66 yuan in 09-11, giving the company a "recommended" rating.
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