Feng Zhu Textile Two Executives Resigned &Nbsp; The Company Said The Production And Operation Of Normal.

In April 7th, Fujian Feng Zhu textile Polytron Technologies Inc (600493) (short for Phoenix Bamboo Textile) announcement, the company supervisor Ma Guiying, chief financial officer Chen Guisheng resigned.

Is there any hidden story behind the resignation of the company's supervisor and chief financial officer?

Or is it pressure on performance?

Reporters call Fujian phoenix bamboo textile company, the relevant personage said: "the company's former chief financial officer Chen Guisheng work change, back to Shenzhen home to find a new company, supervisor Ma Guiying also returned to Zhejiang home, finished the 2009 annual report, they happened to leave together.

At present, the company's production and operation is normal, and it is expected that a quarterly report will be disclosed in April 27th.

Gao Guo of Huatai Research Institute told the Securities Daily reporter: "phoenix bamboo textile has not been investigated, and its performance is general.

This year's big textile enterprises increased profitability compared with the same period last year, the prices of products were rising, downstream demand was high, and sales volume was also expanding.

For example, the announcement of Henan Xinye textile (002087) said that net profit in the first quarter of 2010 was expected to grow by 350%-380% over the same period.

But the annual report of Feng Bamboo textile shows this is not the case.

According to the annual report, the company achieved operating income of 687 million 750 thousand yuan, an increase of -3.96% over the same period last year. The reason is that in May 2009, the company pferred the share pfer of the original controlling shareholder, Fujian's phenanthrene garments limited liability company, and its operating results no longer merged into the company, resulting in a decrease in the main business income. Due to the decrease in the business of the printing and dyeing enterprises around the periphery, the discharge of its sewage also correspondingly decreased, resulting in a 2009 decline in the company's sewage treatment income.

Feng Zhu textile is a textile enterprise mainly knitted and dyeing and finishing.

In this regard, the Feng Bamboo textile related people said: "the textile industry in the last two or three years is less than the downturn, there is no big opportunity, this is a national problem.

The upper and middle reaches of Feng Bamboo textile are mainly to provide fabric for garment factories.

Previously, functional fabrics were favored by "Lining". This year, the personage said, "basically not to give 1, Lining" to provide fabrics, and other companies are not very quantitative.

Qu Jia, the first business researcher, thinks that the price index of raw materials, dyestuffs and power purchased by textile materials in March has risen by 0.85 points, and the clothing factory price index has increased by 1.61 points. The textile factory price index has risen 1.63 points.

In 2010, prices of raw materials such as cotton (information and market) are likely to remain on the rise. At the same time, with the rapid increase in labor costs caused by "labor shortage" and the increasing pressure of RMB appreciation, corporate profits will be compressed.

Therefore, market participants believe that enterprises that can effectively pfer costs have investment advantages.

Feng Zhu textile marketing center related personage said: "the company's raw materials are mainly cotton, cotton yarn and dyestuff and so on. Prices are all rising and supply is insufficient. We increase the price of finished cloth accordingly, but the company orders in the first quarter are normal, even business connections have increased than before, mainly in Fujian clothing factory, foreign trade also has, only processing and dyeing.

Among them, there are tens of millions of large orders.

"The future situation is not a problem," said Gao, the Huatai Research Institute. "The appreciation of the renminbi is expected to be a negative factor in the foreign trade business, or it will affect profitability.

The Great Wall securities Wang Ping analyzed the supply and demand situation of the textile and garment industry, and found that the situation of supply exceeding demand has improved.

Judging from the foreign market, the sustained recovery of consumption in the United States and Japan is more certain, but there is still much uncertainty about whether the EU's consumption can continue to recover.

Because of the small and medium capacity, the profit rate of textile and garment industry is relatively low, which is only 3-5%.

We are optimistic about the brand listed companies facing the domestic market, such as the seven wolves (002029, stock bar), the American bond dress (002269, stock bar), the wedding bird, the Luo Lai home textile (002293, the stock bar), the fuanna (002327, the stock bar) and so on.