Vietnam Imported 1 Billion 140 Million Dollars Of Chinese Textile And Footwear Raw Materials In The First 9 Months.

according to Vietnam? According to statistics from the General Administration of customs, Vietnam's imports of raw materials for textiles and footwear amounted to US $394 million 240 thousand in September (2014), up 30.34% from August this year. The total value of imported textiles and footwear raw materials in Vietnam from 1 to September this year amounted to US $3 billion 640 million, an increase of 26.91% over the same period last year.

　　 China Vietnam was the first 9 months of this year. footwear The largest source of raw materials, of which $126 million 660 thousand was imported from China in September, imports 1 billion 140 million US dollars in the first 9 months, up 28.41% over the same period last year.

In addition to mainland China, Vietnam imported textiles and footwear raw materials from over the world in the first 9 months of this year to more than US $100 million, including:

South Korea ($585 million 750 thousand, an increase of 13.49%).

Taiwan ($364 million 500 thousand, an increase of 19.41%).

The United States ($194 million 260 thousand, an increase of 40.75%).

Japan ($165 million 430 thousand, an increase of 13.09%).

Hongkong ($161 million 30 thousand, down 1.59%).

Italy ($140 million 90 thousand, an increase of 47.92%).

Thailand ($139 million 150 thousand, an increase of 34.46%)

Brazil ($116 million 350 thousand, an increase of 146.08%).

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The 3 quarter net profit increased by 304%, a record high. In the first three quarters of 2014, the company achieved operating income of 9 billion 80 million yuan, an increase of 4.1% over the same period last year. The net profit attributable to parent company was 370 million yuan, an increase of 11.3% over the same period last year, and the realization of earnings per share was 0.20 yuan. In the first three quarters of 2014, the company consolidated gross profit margin was 19.29%, up 2.19 percentage points compared to the same period last year. The net interest rate at the same period was 4.15%, up 0.30 percentage points over the same period last year.

The company's revenue and profit grew year-on-year, mainly due to the increase in sales volume of soda ash, viscose, caustic soda and other products, and the recycling economy laid the cornerstone for company profits. The company intends to participate in the new energy of silver long. With the continuous decline in the production cost of new energy buses, the steady improvement of performance and the gradual improvement of charging facilities, the new energy bus market is expected to accelerate the volume. Silver Lung new energy is expected to enhance its competitive advantage in the new energy bus industry by AO ti.

We are optimistic about the development of new energy in the new energy vehicles, and also optimistic about the cooperation between the company and the new energy company. The target price of the company is raised to 8 yuan, and the rating is increased to buy.

In the 3 quarter of 2014, the company achieved operating income of 3 billion 180 million yuan, an increase of 3.2% over the same period last year, an increase of 6.2% compared with the same period of the previous year, and a net profit of 210 million yuan in the 3 quarter of 2014, an increase of 46.2% over the same period last year, and 304% increase in the annulus. In 2014, the gross profit margin of the company in the 3 quarter was 21.44%, an increase of 2.46 percentage points compared to the previous year, and an increase of 3 percentage points in the annulus.

In the 3 quarter of 2014, the company's net profit reached a record high, and the net profit in the 3 quarter increased significantly, mainly due to the profit increase of viscose staple fiber and soda ash.

At present, viscose staple fiber has fallen, and many enterprises are in a state of loss. With the addition of new capacity, the industry's negative factors are gradually eliminated, and the following viscose staple fiber is expected to usher in a stable rebound. Because of the excess state of dissolving pulp, its price has been falling all the way, while viscose staple fiber prices have remained stable and the price spreads have been widening. We believe that viscose staple fibers will be better next year and profits will show a reverse upward trend.

The main risks facing rating are the risk of product price fluctuation exceeding expectations.

Valuation, we expect the company's earnings per share for 2014-2016 years to be 0.29 yuan, 0.36 yuan and 0.46 yuan respectively. Taking into account the cornerstone of the company's circular economy, we are going to participate in the new energy of silver long to enter the lithium battery industry. We will give the company a 28 times earnings level in 2014. The target price will be raised from 5.88 yuan to 8 yuan, and the rating will be increased to buy.