Six Countries Welcome Breathing Opportunities For The Textile Industry

The textile industry, which is troubled by the decline of export trade, has finally ushered in the "six countries". As a traditional industry highly dependent on exports, the "six countries" of the textile industry will become the way to solve the problem.

Under the influence of "six countries", the textile plate began to start on the 20 day, and many textile stocks such as Tianshan textile (000813.SZ) and Shenda (600626.SH) were sealed yesterday.

As an important industry to protect employment and improve people's livelihood, the textile and garment industry has always been the main sector to solve the employment problem. However, the cost and pressure of the first half of the year and the recent global financial crisis have affected the textile and garment industry.

The core of the "six countries" is the further improvement of the export tax rebate rate and the measures to alleviate financial strain.

According to the latest research report of Dongfang securities, the export tax rebate as the most direct measures to promote the development of the industry has been raised two times in the early stage, which eventually raised the export tax rebate rate of textiles and clothing to 14%. If the tax rebate rate is raised again, the export tax rebate rate has been raised by 3 percentage points. The profit and export environment of the textile and garment industry will be improved, and the accumulative role will be accumulated. Among them, the companies with a high proportion of exports will benefit the most, but the impact on the actual performance of the companies depends on the bargaining power of their products.

In addition, the effect of the "real pfer" policy on the suspension of textile processing trade accounts is also more obvious for the relevant enterprises.

At present, the proportion of processing trade in industry exports is about 30%, but the proportion of processing trade to some specific enterprises is relatively high.

The introduction of this policy is of positive significance for relieving the capital and financial pressure of such enterprises.

But the "six states" only provide a breathing space for the textile industry.

Wind statistics show that the profitability of the textile and garment industry has weakened in the three quarter of this year.

The SFC's textile, clothing and fur industry in the three quarter of this year achieved an arithmetic average asset liability ratio of 52.14%, an increase of 0.4 percentage points compared with the 51.74% in the medium term, and a 6.54% decline in net profit in the third quarter, compared with the average gross margin of 20.07% in the medium-term industry. The gross profit of the textile industry decreased to 18.93% in the three quarter, while the net asset yield was further reduced to 1.13% by the average 3.43% in the medium term statistics. Obviously, the survival environment of the industry is deteriorating further, and the profitability of the textile industry is also very weak.

Although the increase of cumulative effect will bring some opportunities to the textile industry, but the higher proportion of exports and the Backward Influence of historical production mode, the improvement of textile industry in the future still needs to be solved by the industry itself.

Because of the current RMB appreciation and labor cost increase, the domestic textile industry has weakened compared with the previous international comparative advantage.

Besides, the current financial crisis has not yet shown signs of relaxation. For the export-oriented industries highly dependent on exports, the textile and garment industry still needs to rely on the improvement of its own product image to promote the upgrading and upgrading of the industrial structure.

As the most populous country in the world, domestic demand still needs to expand.

Although the state proposes 4 trillion yuan investment plan to stimulate the economy, but for the textile industry, the real upgrading of the product development space is still a huge rural market.

Further stimulation of domestic demand in the future is the real solution for the industry.