Low Market Demand Caused Textile Prices To Drop &Nbsp, And Profits Fell Sharply Throughout The Year.
Wei Qiao textile (02698) issued a profit warning, referring to Chinese cotton this year.
Spin
Because of the sharp fall in cotton prices and low market demand, the textile market has seen a sharp decline in the price of textiles. Therefore, it is expected that the annual profit of the group will drop sharply as at the end of December this year.
In addition, by the end of November, the inventory of the company increased slightly compared with the first half of the year.
Price
The impact of the sharp decline, according to prudent accounting standards, the company will prepare for the existing stock price depreciation, so it will have a greater negative impact on the overall profit, so that the main business is expected to record a loss?
Wei said that the group's overall operation is still good, and sales volume is expected to remain stable in the second half of the year.
finance
The situation remains stable? I believe that if the textile market improves next year, the company's inventory will have a positive impact on the financial performance next year, and its good sales network and stable market share will also benefit the company.
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