How Difficult Is It For Textile Companies To Be Short Of Money?

Since the beginning of this year, capital turnover has been blocking many enterprises' necks. Interest rate increase order Spin Such enterprises capital Demand side financing The cost has been further raised, and the reserve ratio has been raised several times, which has greatly reduced the position of commercial banks. Textile enterprises' funds have been stretched to the limit.

Recently, Hebei, Jiangsu, Shanxi Textile enterprises such as other places have reflected that the shortage of funds has made it more difficult for enterprises to survive. Recently, the phenomenon of "passive default" resulting from the tightening of money has frequently emerged. The complexity of the economic situation in Europe and the United States has reduced the proportion of China's export of textile and clothing products, while the "export to domestic sales" can further exacerbate the cost war and price war in the domestic market.

　　 Acceptance discount rate to increase "sticker" profit

According to a cotton textile enterprise in Handan, Hebei, the company has long relied on the old relationship to make orders and maintain production. Due to the trust relationship between them, payment is always made after delivery. In the first half of this year, there will be a certain amount of cash to pay. In the second half of the year, there will only be accepted bills, and there is no guarantee of full payment. The manager of the enterprise said: "it is not easy for an enterprise to get the acceptance bill now. In order to maintain production, enterprises must retain a certain number of workers, so they have to discount 8% for cash, while last year's discount is only 5%. It can be said that the discount of 8% is the beginning of the loss of enterprises, and the profit of enterprises is only 3% now. Even so, everyone can take various measures to get the acceptance bill. In addition, even if the bill of exchange is due to be paid to the bank, the official seal on the endorsement is not clear if the bank will refuse to pay it, so the enterprise must contact the other party to prove that it will take at least one week to go back and forth. "

The acceptance bill has been used for 20 years in our country. It is understood that it was a kind of instrument which appeared at the time to solve the triangle debt, and the bank realized time was 3 months, half a year or even 1 years. Today, the use of acceptance bills is also a matter of frustration.

　 Huge expansion leads to financial difficulties.

A textile industry in Jiangsu, who does not want to be named, has revealed that Jiangsu's largest chemical fiber production enterprise has caused capital chain breakage due to over expansion and rising operating costs. Although the head of the company said that there would be no financial crisis, some textile companies expressed concern about the prospect of the company, saying that if the national tightening policy continued, the company would not survive. Faced with these doubts, the company official said that the company's development momentum is not bad, although the macroeconomic situation is not good, but there is no such a serious problem of capital chain rupture.

According to the governor of a bank branch in Changshu, because local textile companies have long experience and have undergone several adjustments in the industry, there is little likelihood of mass failure. From the analysis of bank loans, loans continued to grow, but slower than last year, which restricted the development of the textile industry, but this is only for the expansion of the wishes of enterprises. {page_break}

A well-known weaving company in Shandong, which has been doing business through orders, has a slightly better living condition. The company's official said that the company relies on stable customers and prudent business philosophy, its profit margin can remain at around 5%. According to the report, the company expanded its capacity last year and invested 60 million yuan to buy 1000 looms, which brought some pressure to the company's capital turnover. It is understood that, in order to alleviate the pressure of funds, the company has hired a domestic investment bank to carry out joint stock system reform and prepare for direct listing in the year.

High interest lending costs increase

In another textile industry concentrated area, Zhejiang, most enterprises are experiencing the most difficult year in history. The region has always been known for its economic activity, but the current funding problem is plaguing the entire textile industry.

"During the financial crisis, we were not so hard." The general manager of a local textile machinery company said that the wages of ordinary employees rose from 2600 yuan to 3700 yuan in the past two years, and the salary increase of the whole enterprise is expected to be close to 20%. The price of spinning machine products has not risen this year. Although the company has increased the R & D and production of new products, orders in the second half of this year are still down by more than 1/3 compared with the same period last year. In the latter half of the year, the outsourcing processing orders which accounted for a large part of the company's business were almost none. He said that in the second half of the year, there were few new orders, and the orders were mainly concentrated on old customers. In addition, because of the depressed market environment, it is easy for new customers to take risks. Last year, as the textile industry met with a good year, most of the profits of the user enterprises increased. This year, in the case of tight money, some enterprises began to borrow money to tide over the difficulties, and the interest of private lending increased month by month. This undoubtedly increased the risk of business operation. Now, in some parts of Zhejiang, some loans have reached 13% interest rates. Some companies have only borrowed 1 million yuan for 1 million 500 thousand yuan. If this situation is not solved as soon as possible, it will cause serious social problems.

According to Professor Gu Jing of the Institute of Social Sciences, the most obvious manifestation of all kinds of unfavorable factors is the difficulty of financing. This is especially evident this year. Only about 10% of SMEs can get loans from the formal banking system. At present, the annual interest rate of private lending is as high as 120%. Even so, private financing is still in short supply.

"Private lending is short of supervision and interest rate is high, and the pressure of debt repayment of SMEs is huge, and huge debt risk has been hidden." Professor Gu said.