Ministry Of Commerce: 50 Index Analysis Of "China Shengze Silk Chemical Fiber Index" In June

The "50 index" of Shengze adopts the fixed base index method, that is, taking August 2007 as the base period, providing a benchmark from a vertical angle, so as to provide a reference standard for enterprises and market researchers.

According to Ministry of Commerce China Shengze silk

In June, the Shengze 50 index declined, while the 50 companies obviously outperformed the small and medium-sized enterprises in terms of company size, product innovation, product sales channels and liquidity. However, in the face of the low market sales in June, they still failed to get rid of the trend of exponential decline, which was mainly caused by the reduction of demand for orders at home and abroad, increased receivables, lack of skilled workers in the enterprises, and inadequate operating rate.

First, let's analyze the negative factors that affect the decline of the 50 Index in June.

1, labor costs rise.

The textile industry is a labor-intensive industry. At present, the average profit margin of textile enterprises is only 3% - 5%, and some even lower than 3%.

On the whole, although the scale of the 50 enterprises is very large, large-scale production has also led to a high cost of human resources. With the rising labor costs, Shengze textile enterprises will be under tremendous pressure.

2, the depreciation of the euro has a certain impact on textile exports.

In the first half of this year, the depreciation rate of the euro against the RMB has exceeded 10%.

The EU is China's largest export market for textiles and clothing, accounting for more than 20%. Therefore, the devaluation of the euro against the yuan has triggered investors' concerns about the decline in export growth in the future.

It can be clear that the continued depreciation of the euro is very unfavorable for the export of Shengze textiles to the euro area. If the euro zone economic downturn continues, the decline in textile and clothing consumption will gradually be reflected, and the foreign trade orders of Shengze foreign trade enterprises will continue to decrease.

3, the rise in raw material prices has led to a decline in corporate profits.

At this stage, with the gradual consumption of raw materials in the early stage, the cost pressures of high priced raw materials purchase have begun to appear, which has further affected the further recovery of enterprises' production.

In June, the spot price of China's 328 cotton was 17549 yuan / ton, up 37% compared with the same period last year. The price of viscose staple and polyester staple increased 15.8% and 12.9% respectively.

The prices of major products, such as yarn, cloth and clothing, have also gone up to varying degrees. The profits of textile enterprises fluctuate constantly along with the price changes of raw materials and finished products.

4, the insufficient operating rate of enterprises seriously affects the delivery of product orders.

In June, most of the textile, dyeing and finishing enterprises in Shengze market, including 50 enterprises, were involved in the scope of environmental protection inspection. Enterprises started to stop, the production order was disrupted, and the delivery time of orders was delayed, which resulted in the loss of many enterprises' orders, the embarrassing situation that new orders were not dared to scrambling, and the original market sales were rather dull.

Although the Shengze 50 index declined in June, the overall sales situation of the 50 enterprises was not ideal in the first few months, but this does not mean that 50 enterprises are not competitive in the current off-season. Next, we will analyze the positive factors that affect the 50 index.

1, RMB exchange rate reform has limited impact on large-scale enterprises.

Recently, the RMB exchange rate reform has been put on the agenda, and there will be a slight appreciation in the year.

For the textile industry, the appreciation of RMB is a big blow to small and medium-sized enterprises, but has a relatively small impact on large enterprises with stable customers and bargaining power.

At present, 80% of domestic textile and clothing exports are settled in US dollars, and the appreciation rate of RMB will have a serious impact on the export of domestic textile and clothing.

The excessive appreciation will make the export profits of most OEM SMEs greatly diluted or even lose, which will affect the enthusiasm of the enterprises. However, the large scale enterprises have a long-term stable customer base. After the appreciation of the renminbi, the enterprises can generally reach an agreement with the customers to reduce the impact of the appreciation of the currency.

If large enterprises push new products, they will make up for the impact of RMB appreciation and even benefit production orders to large enterprises.

2.

Two, we analyze the factors that affect the trend of the 50 index from the trend of classification curve.

Note: the following four kinds of curve charts (average sales volume, average sales weight, average total wages, average raw material purchase amount) are all 50 enterprise sub index comprehensive change trend, the curve only reflects the operation efficiency fluctuation of main enterprises in Shengze area, and reflects the change of enterprise competitiveness in a certain degree.