In The First Half Of 2014, The Domestic Textile And Garment Industry Started To Search Bottom.

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Xiaobian net to introduce to you is the first half of this year, the domestic textile and garment industry as a whole continues to find the bottom.

In the one or two quarter, the income of Listed Companies in textile and garment industry decreased by 1.61% and 4.30% respectively, and net profit decreased by 0.62% and 2.37% respectively.

Among them, manufacturing revenue grew steadily, the growth rate slowed down compared with the middle of last year, net profit decreased year by year, gross margin and net interest rate slipped slightly, consumer income decreased year-on-year, net profit growth slowed down, gross margin and net interest rate increased.

The performance adjustment rate of key consumer companies is higher than that of the industry: in the one or two quarter, the income of key consumer enterprises decreased by 9.39% and 6.66%, respectively, and net profit decreased by 14.42% and 24.81% respectively.

The balance sheet and cash flow statement show that corporate financial indicators continue to deteriorate.

In the whole industry, the average inventory in the first half of the year increased by 6.12%, the growth rate was higher than that of the same period last year, and the inventory turnover rate was 1.25 times, the lowest in the last 3 years (1.5 times last year). At the same time, the growth rate of accounts receivable slowed down to 4.37% (13.99% in the same period last year), and the weekly turnover rate of accounts receivable fell to 4.29 times from 4.56 in the same period last year.

The inventory and accounts receivable turnover rate of the plate (all manufacturing) is similar to that of the whole industry, which is reduced by 0.15 and 0.67 times respectively.

It is worth noting that the operating net flow of textile sector enterprises has improved after 12 years (net value is greater than net profit), and has declined since the 13 mid term.

These show that manufacturers of textile enterprises are also facing difficulties.

In terms of key consumer enterprises, accounts receivable decreased by 7.26% in the first half of this year, and accounts receivable turnover was flat compared with the same period last year. The stock market has increased by 10.08%, and the inventory turnover rate has dropped to 0.82 times from 0.98 times in the same period last year. Moreover, the net operating cash flow has continued to be lower than net profit.

Accounts receivable turnover stability shows that enterprises adopt a more prudent business strategy, despite prudence, but inventories continue to grow, inventory pressure is still huge.

The external factors that continue to explore the industry lie in

Restrained by external demand, slow recovery and rising costs, domestic demand is impacted by foreign brands and electric providers. The internal mechanism is that the extensive expansion of enterprises in early years left behind worries, and the successful pformation takes some time.

At present, the macro-economy is facing a decline in growth rate. The reform dividend has not yet been clearly manifested. We expect that the textile and garment industry will linger in the second half of the year, and there will be signs of recovery after the Spring Festival in 2015.