Economic Operation Analysis Of Cotton Spinning Industry In 1-2 2020

1. Import and export of cotton textiles and garments

According to the statistics of China Customs, the total export volume of cotton textiles and clothing in 2020 was 8 billion 564 million US dollars, down 24.12% from the same period last year, accounting for 27.28% of the total export volume of textiles and garments of 31 billion 391 million US dollars, of which the total export volume of cotton textiles in the 1-2 months was 2 billion 609 million US dollars, a decrease of 24.12% over the same period last year, accounting for 18.67% of the total export volume of textiles 13 billion 976 million US dollars; 1-2 months cotton uniform in 1-2 months. Total exports amounted to US $5 billion 955 million, down 24.12% from the same period last year, accounting for 34.19% of the total export volume of clothing, which is US $17 billion 416 million.

In terms of imports, China's total imports of cotton textiles and clothing in 2020 1-2 amounted to 1 billion 622 million US dollars, down 22.04% from the same period last year, accounting for 41.20% of the total textile and clothing imports of 3 billion 936 million US dollars, of which 1-2 months the total import of cotton textiles was 1 billion 39 million US dollars, down 22.04% from the same period last year, accounting for 42.59% of the total import value of textiles, 2 billion 439 million months. The US dollar decreased by 22.04% compared with the same period last year, accounting for 38.94% of the total import volume of clothing, which is 1 billion 497 million US dollars.

　　　 2. Import and export volume and price changes of cotton products

According to the statistics of China Customs, China imported 1-2 tons of cotton cloth in 2020, exported 922 thousand and 200 tons, and exported 895 thousand and 600 tons, indicating that the export momentum of China's cotton fabric industry was relatively strong in the month of 2020.

Compared with last month, the import and export situation of the cotton industry in 2020 1-2 months has been maintained well, making the cumulative net exports increase significantly.

According to the import and export price of cotton cloth, the average price of imports in 2020 was $2446.93 / ton in 1-2 months, and the average export price was $1517.49 / ton.

　　 3, cotton products import and export quantity and price changes

According to the statistics of China Customs, China imported 1-2 tons of cotton in 2020, 1 thousand tons of exports and 411 thousand and 500 tons of net imports, indicating that the domestic market demand of China's cotton industry is relatively strong.

Compared with last month, the import and export situation of cotton industry in 1-2 months in 2020 has been maintained well, making the cumulative net imports increase significantly.

From the unit price of cotton imports and exports, the average price of imports in 2020 was $1742.37 / ton in 1-2 months, and the average export price was $1872.85 / ton.

　　 4, cotton yarn output growth momentum is good.

According to the statistics of the National Bureau of statistics, China's yarn production in 2020 was 2 million 708 thousand and 500 tons, down 39.43% from the same period last year, of which cotton yarn production was 1 million 607 thousand and 600 tons, a decrease of 41.90% over the same period last year. The blended yarn production was 470 thousand and 100 tons, a decrease of 42% over the same period last year, and the output of purified yarn was 630 thousand and 900 tons, a decrease of 29.46% over the same period last year. It shows that the output of Chinese cotton yarn is increasing generally in 1-2 years.

　　 5, cotton spinning industry production and operation and profitability

From the perspective of enterprise production and profitability, the gross profit margin of cotton textile industry in 2020 was 9.83% in 1-2 months, 0.82 times that of the whole textile industry, and the three fee ratio (business, management and financial expense rate) was 7.13%, 0.75 times the average of the industry, the profit rate was 1.83%, the 0.91 times of the industry average, and the inventory ratio (product inventory, excluding raw material stock) was 60.15%. The average number of industries is 0.87 times; the proportion of exports is 8.68%, which is 0.52 times the average of the industry; the loss of enterprises is 35.26%, which is 0.94 times the average of the industry. It can be seen that the operating environment of cotton textile industry is slightly lower than the average level of the whole textile industry.

　　 6, cotton spinning industry production and marketing linkage and asset operation

From the link between production and marketing, the production and sale rate of the cotton textile industry in 2020 was 98.11%, equivalent to 1 times that of the textile industry, indicating that the product sales were in good condition; the turnover rate of accounts receivable (main revenue / accounts receivable net) was 1.31 times, 1.37 times the average of the industry, and the account receivable operation cycle (60 days / accounts receivable turnover rate) was 45.63 days, 0.73 times the average of the industry. 1-2. The more the number of accounts receivable turnover, or the less turnover days of accounts receivable, indicating that the channel for profit making in the industry is more and more smooth.

From the perspective of asset operation, the turnover rate of total assets in the cotton textile industry (main income / assets) in 2020 was 0.13 times in 1-2 months, equivalent to 1.10 times that of the industry average, and the total assets operation cycle (60 days / total assets turnover rate) was 473 days, equivalent to 0.91 times of the industry average; and the turnover rate of current assets (main income / current assets net balance) was 0.24 times, which was equivalent to the average of the industry. 1.15 times the number of assets, the current assets operating cycle (60 days / current assets turnover) is 252 days, equivalent to 0.87 times of the industry average, the more total assets and liquidity turnover times, or the less total assets and turnover days, indicating the higher efficiency of asset utilization.

The asset liability ratio of cotton textile industry in 2020 was 56.70% in the month of 1-2, which is 1.02 times that of the industry average, indicating that the financial policy of the enterprise is relatively stable. The net assets yield is 0.54%, which is 1.03 times the average of the industry. It shows that the efficiency of the enterprise's net assets is close to the average level of the industry.

　　 7. Short term debt repayment and liquidity change in cotton spinning industry

Judging from the change of short-term debt repayment and liquidity, the liquidity ratio of the cotton textile industry (current assets / current liabilities) was 2.35 times in 1-2 months in 2020, 0.93 times that of the textile industry, and the higher the current ratio, indicating that the short-term debt paying ability of the enterprises was strong.

From the change of quick ratio (liquidity assets to inventory) / current liabilities, the cotton textile industry is 1.37 times, 0.93 times that of the whole textile industry, and the fast moving ratio is relatively high, which indicates that the liquidity of the current assets of the enterprises is strong without considering the stock.

From the change of cash ratio (Monetary Fund + short-term investment) / current liabilities, the cotton textile industry is 0.79 times, 1.09 times the total textile industry, and the cash ratio is higher. It shows that the short-term debt paying ability of enterprises is more secure without considering inventory and accounts receivable. This shows that the industry's short-term solvency and liquidity are close to the average level of the textile industry.

　　 8. Comparison of average size of cotton spinning enterprises

From the change of the average size of enterprises, the average output value of cotton textile enterprises in 2020 was 15 million 350 thousand yuan, 1.22 times the average of the whole textile industry; the average assets of enterprises were 118 million 380 thousand yuan, 1.13 times the average of the industry; the average business income of enterprises was 15 million 20 thousand yuan, 1.23 times the average of the trades; the average profit of enterprises was 274 thousand and 800 yuan, 1.13 times of the average of industries; 1-2 The average export delivery value of enterprises is 1 million 325 thousand and 200 yuan, 0.65 times the average of the industry, and the average number of enterprises is 161, which is 1.04 times the average of the industry. It can be seen that the average size of cotton textile enterprises is close to the average level of the whole textile industry, which reflects that the industry has a certain level of large enterprises and high quality production capacity, and the development momentum of the industry is relatively healthy.

　　 9. Comparison of per capita size of cotton spinning industry

From the change of per capita size of the industry, the average output value of cotton textile industry in 2020 was 95 thousand and 700 yuan, 1.17 times the average of the whole textile industry; the average per capita asset was 737 thousand and 600 yuan, 1.08 times the average of the industry; the average per capita business income was 93 thousand and 600 yuan, 1.18 times the average of the industry; the average profit per person was 1 thousand and 700 yuan, 1.08 times the average of the industry; and the export per capita was 1-2 yuan. The value is 8 thousand and 300 yuan, 0.62 times the average of the industry. It can be seen that the average per capita size of cotton textile industry is close to that of the whole textile industry, reflecting that the labor productivity and comprehensive competitiveness of the industry are equivalent to the average level of the whole industry, and the contribution to the whole industry is considerable.