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Tianhong Textile Announces Annual Report &Nbsp; Vietnam Has Low Plant Cost.

2010/6/25 15:58:00 32

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March 29th, the world's largest

Core cotton textiles

Supplier Tianhong Textile Group announced its 09 year performance announcement today. The HK.02678 annual report shows that the textile industry has recovered substantially. The company's top executives say that Vietnam has been successful in investing in Vietnam, and its Vietnamese company is the Affiliated Companies with the highest profitability in the company.

In the performance announced by Tianhong textile today, the company's turnover was 4 billion 88 million yuan, an increase of 9.4% over the previous year and net profit of 286 million yuan, an increase of 33.3% over the previous year.

Hong Tianzhu, executive director and chairman of the group

Sina Finance

The company set up factories in Vietnam mainly based on two aspects: labor cost and electricity cost.

"Our survey found that Vietnam's labor is still lower than that of the mainland, Vietnam has 3 more electricity per kilowatt hour, also less than 5 of China's gross domestic product, and Vietnam's production capacity now accounts for nearly 1/3 of the company's total (production capacity)."

He pointed out.

In addition, according to the chief financial officer of Tianhong, Vietnam has implemented four tax exemption and nine reduction policy for foreign enterprises, and has no customs duties, which is very attractive for small and medium-sized enterprises.

It is reported that domestic

Textile enterprises

There are not many factories abroad, and some attempts have been made in Kampuchea, Mexico and other countries.

According to the statistics of China's National Bureau of statistics, the total investment in large-scale textile projects totaled 310 billion 200 million yuan in 2009, up 13.86% from 2008.

In 2009, China exported $167 billion in textile and clothing, down 10.1% from last year.

In 2010 1-2, textile and apparel exports totaled 28 billion 240 million US dollars, up 29% from the same period last year, of which the total value of exports in February reached US $12 billion 640 million, an increase of 89.3% over the same period last year.