Shanghai And Shenzhen Two Textile Products Listed Companies In 2019 Performance Comparison

In 2019, China's textile industry withstood the severe test under the pressure of more complex external trade environment, slower demand for domestic and foreign markets, and continuous upgrading of comprehensive costs. The whole industry insists on deepening the structural reform of supply side, striving to overcome the pressure of downside risks and accelerating industrial transformation and upgrading. From the relevant economic operation statistics, the situation of industrial production is generally stable, and the overall prosperity of the industry is still running in the normal range. However, the main economic performance indicators are slowing down, and investment growth momentum is weak, and the level of efficiency has declined.

Textile and apparel listed companies have made important contributions to the innovation and development of the whole industry and the smooth operation of the textile economy in the course of the development of the industry. With the conclusion of the end of the April Shanghai and Shenzhen two annual reports and the first draft of the China Textile Planning Research Institute "2019 annual report on the development of the textile and garment industry listed companies", the 2019 annual performance report of textile and apparel listed companies has reached a preliminary conclusion.

Annual revenue accounted for 2019

The whole industry is regulated by 1/4 of the enterprises.

1, according to incomplete statistics, as of the end of 2019, there were 176 A shares listed companies in the two cities of Shanghai and Shenzhen. Compared with the statistics base of the previous 166 years, the new IPO listed companies mainly came to the 2019 and increased or changed to the main business of textile and garment.

Of the 176 textile and apparel listed companies, 82 were the main board, 73 were medium and small boards, 21 were gem, and three accounted for 46.59%, 41.48% and 11.93% respectively.

2, by the end of 2019, the market value of 176 major textile and garment listed companies in Shanghai and Shenzhen two cities was about 1 trillion and 397 billion 561 million yuan, an increase of 29.48% over the previous year, accounting for 2.05% of the total market capitalization of A shares in Shanghai and Shenzhen two cities.

4, statistics show that, with the further deepening of market-oriented reform of domestic capital market in recent years, the demand for additional financing, mergers and acquisitions and issuance of convertible bonds of textile and apparel listed companies has been continuously released. In 2019, a total of 8 textile and apparel listed companies in Shanghai and Shenzhen two cities raised 25 billion yuan (including 3 billion 503 million yuan for additional financing) through the issuance of additional funds, 6 enterprises actually completed restructuring, and 14 textile and apparel listed companies released the first announcement of reorganization; 5 textile and garment companies raised 2 billion 273 million yuan by issuing convertible bonds.

5. Industry status and role of textile and apparel listed companies in Shanghai and Shenzhen two cities

Related data statistics show that the number of Listed Companies in textile and clothing companies in Shanghai and Shenzhen two, which accounts for only 0.51% of the total assets and the proportion of assets accounted for 47.16%, accounted for about 25.85% of the total industry's total revenue in 2019 and accounted for 36.36% of the profits. The main items are as follows:

Table 1 position of textile and apparel listed companies in the economic operation of the textile industry in Shanghai and Shenzhen two cities

Data sources: National Unification Bureau, annual report of listed companies, and China Textile Economic Research Institute

Both comprehensive evaluation and health index were improved.

1. According to the Asys.16 evaluation and evaluation system, the total score of textile and apparel listed companies in the year 2019 is 505.06, which is 2.72% higher than that of the previous year. Among them, the measurement of earnings quality and profitability was 47.81 (0.64% lower than the previous year), and the operational quality and control capability were 56.38 (3.09% higher than the previous year), 59.56 of the capital structure and debt paying ability (3.03% higher than the previous year), and the assessment of development potential was 36.69 (up 8.45% over the previous year).

In 2 and 2019, the health index (HIS score) of Shanghai and Shenzhen two textile and garment listed companies was 74.22, an increase of 2.42 points over the previous year, but it was still sub healthy (HIS score was 60-75 points). It shows that there are potential risks or unstable factors in textile and clothing listed companies in Shanghai and Shenzhen two cities. Compared with the previous year, the number of entrepreneurs in the 2019 health index above 76 points was 64.20% (113), which was higher than that in 2018 (4.56 percentage points). This shows that the overall operation and development trend of textile and apparel listed companies in 2019 has turned to a healthy direction.

28 companies have revenues of over ten billion yuan.

Accounting for nearly 2/3 of total revenue.

1, revenue situation

From the perspective of revenue distribution, the total revenue of textile and apparel listed companies with a total revenue of over 15.9% billion and a total revenue of 914 billion 377 million yuan accounted for nearly 2/3 of the total revenue. About 2/3 of textile and apparel listed companies accounted for about 5 billion yuan in 2019.

2. Profitability

In 2019, 176 textile and apparel listed companies in Shanghai and Shenzhen two realized a net profit of 62 billion 845 million yuan, an increase of 15.69% over the same period last year. Among them, 82 (accounting for 46.59%) realized net profit year-on-year growth, the highest increase was about 850.23%; and 94 (accounting for 53.41%) net profit fell year by year.

3. Profitability and quality

4. Operation and cash flow statistics.

(1) the cash earning capacity, inventory turnover, accounts receivable turnover and liquidity turnover of textile and apparel listed companies in the year 2019 are basically the same as that of the previous year.

(2) the net cash flow generated by business activities of 107 (60.80%) enterprises increased positively compared with the previous year, indicating that over 60% of the listed companies of textile and clothing companies outperformed the previous year in terms of cash flow generation.

(3) enterprise operating costs continued to rise in 2019. Among them, the selling cost is 75 billion 954 million yuan, the management cost is 47 billion 100 million yuan, and the financial cost is 22 billion 24 million yuan. They increased by 15.63%, 20.57% and 27.75% respectively over the previous year.

5, asset size and capital structure

(1) by the end of 2019, the total net assets of 176 textile and apparel listed companies in Shanghai and Shenzhen two were 825 billion 896 million yuan, an increase of 15.61% over the previous year, and the growth rate increased by 5.89 percentage points over the same period last year. The total assets amounted to 1 trillion and 918 billion 306 million yuan, an increase of 24.42% over the previous year, and the growth rate dropped by 1.01 percentage points over the previous year.

(3) the proportion of current assets (mean) is 55.16%, and the proportion of current liabilities (mean) is 83.20%, which is 0.35 and 1.37 percentage points lower than that of the previous year, respectively.

6, short-term loans and solvency

(1) statistics show that in 2019, two textile and garment listed companies in Shanghai and Shenzhen two realized short-term loans of 292 billion 53 million yuan, an increase of 31.63% over the previous year. It has maintained a high growth rate of the annual growth rate of short-term loans of listed companies of textile and clothing since 2017, which has been growing at around 30%.

(2) the turnover ratio, the quick ratio and the cash ratio of the textile and apparel listed companies in the 2019 are 2.41, 1.82 and 0.80 respectively, which are basically the same as those of the previous year.

7, R & D investment situation

(1) the total annual R & D expenditures of textile and apparel listed companies in 2019 totaled 20 billion 666 million yuan, an increase of 22.36% over the previous year. The intensity of R & D input was 3.08, down 1.21 percentage points from the previous year.

(3) R & D input intensity (mean) 3.08. There are 52 textile and apparel listed companies (accounting for 29.55%) with R & D strength exceeding 3.

Yu Yizheng / Wen