Textile And Apparel Industry Shows Promising Prospects

Clothing consumption has changed positively over the past 14 years.

Clothing CPI began to pick up from October 14, and this year's value is around 3, indicating that clothing consumption is slowly recovering.

In the 1-9 months, the total volume of textile and clothing industry increased by 10.2%, 2 percentage points lower than the same period last year.

Physical channel sales and sales growth over the same period last year, hundreds of key shopping malls

Sales showed a marked increase in price and price trend.

In the three quarter of this year, the retail sales of all kinds of garments in 100 major large retail enterprises increased by 1.3% over the same period last year, 0.4 percentage points lower than the same period last year, and retail sales grew 7.1% over the same period last year, an increase of 8.7 percentage points over the same period last year.

The overall environment of manufacturing industry is not optimistic, and orders have gone to Southeast Asia in large numbers. The rising cost of labor and capital has become a major trend.

China's foreign trade growth has not reached its target for 3 consecutive years.

Customs statistics show that the overall growth rate of textile exports has been decreasing since 2010, making the dependence on foreign trade more serious.

Order shrinkage.

According to China Customs data, exports of textiles and clothing in China increased by 4.8% in the 1-9 months from the same period last year.

Three quarterly statistics show that the performance of Listed Companies in textile and garment sector has improved.

In the three quarter of 15 years ago, the revenue of the listed companies of textile and garment sector increased by 4.93%, and net profit increased by 12.17%, respectively. The growth rate increased by 7.25 percentage points and 14.22 percentage points respectively over the same period last year.

The year-on-year performance is mainly due to multiple factors such as consumption, manufacturing cost and stock market.

The gross profit margin of clothing sub sectors led to a larger fluctuation in textile sub sectors.

The average gross profit margin and net interest rate of listed companies increased by 25.96% and 7.88% respectively over the same period last year.

The gross profit margin and net interest rate of the textile sub sector still fluctuate in a certain range, which is in line with the actual situation of the mature industry.

The gross profit margin of textile manufacturing sub sectors in the first three quarters was 16.41%, the net interest rate was 5.44%, a slight change of -0.05 and 0.11 percentage points over the same period last year.

The gross profit margin and net interest rate of the home textile sub sector in 1-9 months were 33.65% and 9.83%, respectively, representing a 2.57 percentage point increase and 1.04 percentage point increase compared with the same period last year.

But clothing retailing in the future is bound to reduce the rate of increase in price. In the long run, the gross profit margin of the industry is under pressure.

Three quarterly statements in the balance sheet,

Industry inventory turnover and accounts receivable turnover rate deteriorated, and different sub sectors were divided.

The final inventory increased by 4.87%, the growth rate decreased by 1.61 percentage points compared with the same period last year, and the inventory turnover rate was 1.73 times, which is basically the same as that of 1.76 in the same period last year.

Accounts receivable increased by 20.1%, up 20.72 percentage points from the middle of last year, and accounts receivable turnover was 5.74 times, compared with 6.31 at the end of last year.

The decline of the textile sub sector is more obvious, and the turnover rate of inventory and accounts receivable turnover at the end of the three quarter are 2.06 and 6.07 times respectively, representing a decrease of 0.06 and 0.89 times compared with the same period last year.

The overall quality of the balance sheet of garment sub sectors has improved.

Inventory turnover was 1.56 times, slightly better than the 1.49 in the same period last year.

Operating net cash flow has worsened compared with last year.

The net cash flow of operating cash was 30 million yuan, 7 million yuan and -0.05 billion yuan respectively, representing an increase of 23 million yuan, a decrease of 33 million yuan and a decrease of 42 million yuan compared with the same period last year.

The difference between operating net cash flow and net profit is negative.

The income and net profit of key consumer stocks increased by 18.1% and 13% respectively, representing an increase of 13 percentage points and 12 percentage points over the 14 years.

After excluding the heavy weight Hai Lan, the growth rate was 12.64% and -1.46% respectively, which is still larger than that of the same period last year.

The final inventory turnover rate was 1.23 times, and the accounts receivable turnover rate was 5.98 times, which improved compared with the same period last year.

The trend of inventory and accounts receivable turnover is unchanged.

The third quarter net operating cash flow of -0.33 billion, significantly lower than the same period last year.