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Cotton Price Diving Involves The Textile Industry &Nbsp; The Industry Believes That The State Regulation Has Little Effect.

2011/10/21 9:05:00 26

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October 20th, price of cotton raw materials in China for one year

Decline

Nearly 40%, a great impact on many textile enterprises, insiders told sina finance, the country's cotton regulation aimed at stabilizing cotton prices.

policy

After six months, little effect has been achieved.

It is reported that cotton prices last year, the highest peak of 34000 yuan / ton fell to 20000 yuan / ton today.

According to the latest data from the National Bureau of statistics, the textile industry grew by 7.5% over the first three quarters of this year, far below the GDP growth rate of 9.4%.

The textile industry has been hit hard.

Tianhong Textile Group has been downgraded by Credit Suisse, S & P and other agencies recently.

Hong Tianzhu, chairman of the board of Tianhong Textile Group, responded at the China Textile Forum yesterday. "The price of the company's products is closely related to the price of cotton. The fall in cotton prices has brought heavy sales pressure to the company and the profit level has declined.

In the fourth quarter, the whole cotton textile market situation is not optimistic, and the annual profitability is expected to drop sharply.

Companies can only spend the winter through promotions.

Tianhong textile daily reported that as of the end of June, the company's net

profit

It was only 256 million yuan, a decrease of 15.9% over the same period last year.

This tiring and its share price fell sharply, and it plunged 14.33% to HK $2.57, a record low of 52 weeks.

In the early September, S & P revised its rating outlook from "stability" to "negative", and pointed out that its profitability would deteriorate in the second half of the year.

And Credit Suisse also pointed out that it is expected that Tianhong textile needs to make provision for more inventories, which will reduce its earnings per share in the 11 year -13 to 50%-56%, to RMB 0.39 yuan /0.47 yuan /0.6 yuan.

As the downstream garment industry of the textile industry, the negative impact of cotton diving has been basically controlled.

According to the purchasing manager of American Apparel (26.29, -0.39, -1.46%) woven fabric weekly, the "roller coaster" era of cotton prices has passed, and has now returned to the level of the previous year, basically reducing the negative impact on the cost of the enterprise.

According to the 2011 China Daily report, the growth rate of the first half of the US apparel industry was 140%, and its operating income and net profit increased by 49.31% and 833.06% respectively.

Domestic retailers in the first half of 2011 performance list, in addition to the United States and the United States, Anta and Semir also entered the top twenty.

In order to stabilize cotton prices, according to the notice of the national development and Reform Commission and the Ministry of finance, the State Cotton store will open "unlimited quantity" to buy new cotton at the price of 19800 yuan / ton of standard lint cotton this year.

According to projections, at present, the national cotton storage can accommodate at least 3 million 600 thousand tons of new cotton, accounting for 1/2 of the estimated cotton output this year.

It is widely expected that this further decline in cotton prices will play a role.

In September 26th, the spot price of domestic grade 328 cotton was 19982 yuan / ton, slightly rising after the state started the cotton purchase and storage policy, but it was still lingering around the new year's 19800 yuan / ton storage price.

Compared with 30 thousand yuan per ton in March this year, the decrease was 36%.

Hong Tianzhu said that the promulgation of the national policy should take the right time node. "At present, our textile industry is still facing the problems of tight money, rising costs and financing difficulties, so the whole industry is being integrated."

The above weekly purchasing manager also believes that the policy has only been published for half a year, and the effect is not obvious.

"But in the long run, the cotton control policy can control the supply of raw materials, and play a positive role in preventing risks and stabilizing production."

Yuan Yue, chairman of the zero point research and consulting group, said through sina finance that the textile industry should be pformed from three directions: integration before and after integration, that is, the service and marketization level should be aligned with the home textile and clothing industry; and the integration of inside and outside, namely, from simple agency mode to land marketing mode, and comprehensive utilization of overseas platforms; from administrative localization to market positioning as the key, so as to open up market channels and get rid of the shadow of the collapse of cotton prices.