Garment Enterprises IPO Follow &Nbsp, Inventory Turnover Must Be Promoted.

Garment enterprises have become the worst hit areas in the 2011 IPO application. According to statistics, since the beginning of this year, a total of 11 garment enterprises A shares IPO applications, of which 6 were not. Passing rate Only 45%.

However, the low passing rate did not affect the IPO enthusiasm of such enterprises. Many companies such as del Hui, Hai Lan's home, Jordan sports, noble bird, Fion women's bag, Zhejiang Georges white dress and Zhejiang Maison cultural creativity have submitted the A share IPO application. They are queuing up for examination.

Ping An Securities, an investment bank, pointed out that since 2010, the price of domestic clothing sales has generally risen by 10% to 20%, which has led to a sharp increase in the number of clothing companies which have been too much in pursuit of gross margins, and the inventory turnover rate has dropped significantly, which has hidden a larger sales risk and sustained profitability has been affected. This year, IPO applications have no clothing enterprises basically exist such problems.

Haitong Securities, an investment bank, suggested that the R & D design and marketing channel construction is the two core competitiveness of clothing enterprises. To be listed clothing enterprises should increase investment in R & D design, on the other hand, it should increase the average sales volume of single stores (sales outlets). Sale Ability.

　　 consumption Demand growth supports industry development

Driven by the upgrading of domestic consumption structure, the garment industry has been developing rapidly in recent years.

According to the Ministry of industry and statistics, from 2010 to November, the domestic garment industry was completed in 1. Investment amount An increase of 29.99% over the same period.

After the 2008 global financial crisis, the profitability of the domestic garment industry has been improving. According to the independent third party Research Institute Dahe consulting statistics, as of the end of 9 in 2011, the scale of the above scale (annual business income of more than 20 million yuan) clothing enterprises reached 1.03. The number of deficit enterprises was 1327, down 214 from February 2011. The apparel sector listed companies achieved sales revenue of 40 billion 627 million yuan in the first half of 2011, an increase of 22.43% over the same period last year. operating profit 4 billion 637 million yuan, an increase of 49.57% over the same period last year. {page_break}

According to the reporter's understanding, according to the usual classification method in the industry, apart from textile manufacturing and home textiles, the domestic garment industry can be divided into men's clothing, women's wear, casual wear, children's wear, footwear, socks and hat industry.

China is a big exporter of clothing. According to the statistics of the General Administration of customs, in 2010, the annual export volume of domestic textile and garment industry exceeded 200 billion US dollars, increasing by more than 20%. Among them, footwear exports amounted to 9 billion 930 million pairs, total exports amounted to US $35 billion 600 million, and exports accounted for more than 53% of the world's total exports.

At the same time, China is also a big consumer of clothing. Taking shoe industry as an example, according to Da he consulting statistics, in recent years, China's annual consumption of footwear has exceeded 2 billion pairs, ranking first in the world.

It is worth mentioning that China's sustained growth of per capita income is the biggest driving force to support the huge demand in the clothing market.

According to the statistics of National Bureau of statistics, the per capita disposable income of urban households in China in 2006 and the per capita net income of rural residents were 11 thousand and 800 yuan and 3587 yuan respectively, while in 2010 they increased to 19 thousand and 100 yuan and 5919 yuan respectively, and the annual compound growth rate reached 10.4% and 8% respectively.

In fact, the growth rate of clothing consumption demand in China is even faster than per capita income and GDP growth. According to the National Bureau of statistics, from 2003 to 2009, the per capita consumption of Chinese urban households for clothing has increased from 593.99 yuan to 1224.08 yuan, with a compound annual growth rate of 12.8%.

Everbright Securities researcher Li Jie pointed out that after the baptism of the financial crisis in 2008, the competitiveness of China's garment industry has been greatly improved, and the industry has gradually become large-scale and branding. In addition, with the continuous improvement of the purchasing power of Chinese residents, more and more enterprises are turning their development strategy to the deep domestic market.