Textile Companies' Inventories Rose Again

In 2011, while most of the textile enterprises were in high inventory, due to the shrinking of orders, too much inventory was hard to digest. In 2011, it created 71 billion 103 million yuan. High inventory Then, in 2012, the inventory of textile and garment industry was not digested, but it was higher than that of 2011 and increased to 73 billion 172 million yuan.

Flush statistics show that in the first quarter of 2012, the total inventory of 85 listed companies in textile, clothing and fur industry reached 73 billion 172 million yuan, an increase of 10 billion 849 million yuan over the 62 billion 323 million yuan in the first quarter of last year, an increase of 17.4% over the same period last year.

National cotton industry inventories increased by 20.7%

Contrary to the phenomenon of cotton shortage in the first quarter of last year, cotton stocks were larger this year, while the enthusiasm of major textile enterprises increased slightly, and the intention of cotton blending tended to be stable.

According to the sampling survey of the national cotton market monitoring system, as of January 9th, the average daily use of cotton in the sample survey enterprises was about 38.5 days (including the quantity of cotton imported into the port), an increase of 6.6 days, a decrease of 0.8 days compared with that of the previous three years, an increase of 2.4 days compared with the average level of nearly three years.

According to relevant data projections, the national cotton industry inventory of about 1 million 51 thousand and 100 tons, an increase of 20.7%, an increase of 2% over the previous year, an increase of 5.3% over the past three years. The cotton industry in different provinces of China has different stock status, including Fujian, Shandong and Hebei provinces. Cotton industry Inventory is relatively large.

Flush statistics show that in the first quarter of 2012, the total inventory of 8 cotton textile companies totaled 5 billion 179 million yuan, an increase of 403 million yuan over the 4 billion 776 million yuan in the same period last year, an increase of 8%. Of the 8 companies mentioned above, 5 have increased their inventories.

Xiong Xiaokun, a light industry researcher at CIC, said that because the cotton price "roller coaster" has made textile enterprises accumulate a lot of high priced stocks, major textile enterprises are in a slow inventory digestion.

60% inventory growth

According to the analysis report, from December to January of next year is the spring production and preparation season. With the acquisition and storage, the cotton resources in the spot market are decreasing, and the domestic cotton price center is moving upward. In addition, the annual cotton import slide quota quota must be used up before the end of the year, and the purchasing power of textile enterprises will be slightly strengthened.

Flush statistics show that in the first quarter of 2012, 73 of the 85 listed companies in the textile, clothing and fur industry had more than 100 million yuan in inventory, 13 companies had more than 1 billion yuan in stock, and 6 companies had more than 2 billion yuan in inventory. Among them, YOUNGOR, Ordos, E capital B shares The stock of Hong Kong and Hong Kong shares exceeded 3 billion yuan, 23 billion 703 million yuan, 4 billion 258 million yuan, 4 billion 258 million yuan and 3 billion 683 million 870 thousand yuan respectively.

According to the purchase intention survey, in early January 2012, 68% of the enterprises were prepared to purchase raw materials, up by 4 percentage points, while the wait-and-see enterprises accounted for 27%, the annulus ratio decreased by 9 percentage points, and those who did not plan to purchase cotton accounted for 5%, an increase of 5 percentage points. At the beginning of January 2012, 92% of enterprises planned to stabilize cotton blending ratio increased by 8 percentage points, the proportion of enterprises that planned to reduce cotton blending ratio accounted for 5%, the ratio decreased by 3 percentage points, the proportion of enterprises that planned to increase cotton blending ratio accounted for 3%, and the ratio of cotton to cotton decreased by 5 percentage points.

Flush statistics show that in the first quarter of 2012, 49 of the 85 companies increased their inventories year-on-year. Of these, 4 companies had an increase of more than 100% in inventory, such as the highest increase in stock in Hyun Cheng mining, 3103.26% in the stock market, while 390.65% in the Jinyu City, second in the list, while the growth of ST road B and Zhejiang rich stock was 142.61% and 102.03% respectively. {page_break}

From the above data, we can see that the textile and garment industry increased significantly in the first quarter of 2012 compared with the same period last year. This makes the inventory of individual products difficult to digest, especially the yarn and cloth products inventory accumulation is obvious.

According to the survey report, since January this year, the textile production and sales rate of textile enterprises surveyed has picked up slightly, but the production and sales rate of cloth continues to decline and inventory backlog is significant. As of January 9th, the yarn production and sales rate of the enterprises surveyed was 94.8%, an increase of 2.3 percentage points, up 0.6 percentage points from the same period last year, 2.9 percentage points higher than the average level in the past three years, and 19.7 days in inventory sales, a decrease of 0.4 days, an increase of 6.3 days, an increase of 0.9 days than the average level of nearly three years.

Cloth rate of sale of marketed goods For 80.2%, the ratio fell by 1.1 percentage points, down 12.2 percentage points compared with the same period last year, 14 percentage points lower than the average level in the past three years, and 54.7 days in inventory sales, a decrease of 1 days, an increase of 23.1 days from the previous year, an increase of 18.7 days over the average level of nearly three years.

With the increase of inventory and the decrease of sales, the turnover rate of textile companies began to decline or even negative.

According to the flush statistics, 22 listed companies announced that in the first quarter of 2012, 16 companies had a negative turnover in inventory. Among them, there are 10 companies. Inventory turnover Reduced by more than 10%; Xian Cheng mining inventory turnover rate dropped the largest, reduced by 89.64%.