How Did The Textile And Apparel Listed Companies Perform In The First Quarter Of The Epidemic?

In the first quarter of 2020, under the impact of the outbreak of the new crown virus, the textile and garment listed companies were exposed to the risks and pressures brought by the global market downturn and the economic downturn, and the economic operation, production and sales were greatly affected. Relevant statistics show that the 11 main industries of the textile industry, except chemical fiber and other industries, have decreased to a certain extent in the first quarter of the year, and their quality and efficiency levels have declined as a whole.

From a quarterly (1~3 month) monthly economic operation data changes and special investigation, textile and apparel listed companies showed strong confidence and resilience in the face of the impact of the epidemic. Most companies say that the impact of production and operation is temporary and limited. Although the first quarter performance has declined, with the two or three quarter of production and operation gradually restored to normal, the impact on the whole year should be small and controllable.

Market capitalization is higher than average market capitalization of A shares.

In the first quarter of 2020, the global stock market fell sharply, the highest since the financial crisis in 2008. The Shanghai Composite Index of domestic capital market dropped 9.83%, Shenzhen composite index fell 4.49%. As of the end of March, there were 3793 listed companies in the A share market, with a total market value of 60 trillion and 690 billion yuan, more than 3 trillion and 600 billion yuan lower than the beginning of the year, and a loss of about 5.93% in market value.

Data show that the market value of textile and garment listed companies is relatively larger. At the end of March, the total market value of 176 textile and garment listed companies was 1 trillion and 302 billion 571 million yuan, which was 94 billion 990 million yuan lower than the beginning of the year, and the loss rate reached 6.80%. The market value of A shares was higher than that of A shares in the first quarter.

The overall quality and efficiency of economic operation showed a downward trend.

According to statistics, as of March 31st, 176 textile and apparel companies achieved a total operating income of 251 billion 477 million yuan, and net profit totaled 11 billion 317 million yuan, representing a decrease of 5.75% and 36.98% compared with the same period last year. Among them, 22 companies (accounting for 12.50%) revenue grew year-on-year, 42 companies (accounting for 23.86%) net profit increased year by year, 58 companies suffered losses, the loss reached 32.95%.

Statistics show that the net interest rate of textile and apparel listed companies in the first quarter was 4.49%, a decrease of 2.24 percentage points from the same period last year, a drop of nearly 3, and a 1.05 turnover of inventory (14.6%), a decrease of 14.6% compared with the same period last year, and a 0.12 decrease in total assets turnover, a 25% decrease over the same period last year.

At the end of the first quarter, the total liabilities of 176 textile and garment listed companies totaled 1 trillion and 146 billion 547 million yuan, up 25.35% from the same period last year, and short-term loans 347 billion 637 million yuan, an increase of 35.95% over the same period last year.

The first quarter results show obvious characteristics of industry differentiation.

According to the statistics of 98 listed companies, including 3 sub industries including chemical fiber, clothing and apparel, industrial textiles, etc., the following statistics are listed in Table 1, table 2 and table 3:

1. The first quarter revenue grew year by year. The revenue of chemical fiber listed companies increased by 8.64% compared with the same period last year. The growth rate of industrial textile category listed companies and clothing and apparel listed companies was lower than that of the -5.75% industry, which were -12.93% and -40.45% respectively.

2. The first quarter net profit year-on-year growth rate was most prominent in the industrial textile production listed companies, net profit increased by 91.09% over the same period last year. Chemical fiber production listed companies took the second place, net profit increased by 45.06% compared with the same period last year, and apparel apparel processing listed companies grew by -67.14% compared with the same period last year, lower than the -36.98% industry average.

Net interest rate is an important index to measure the level of enterprise income. In the first quarter, the net interest rate of chemical fiber listed companies was 5.65%, an increase of 1.42 percentage points over the same period last year; the net interest rate of apparel and apparel listed companies was 4.51%, a decrease of 5.26 percentage points over the same period last year, a drop of more than half; and the net interest rate of industrial textile listed companies was 8.72%, an increase of 4.75 percentage points over the same period last year, an increase of 119.65%.

In the first quarter, the loss of most of the textile industry has expanded to varying degrees. Chemical fiber listed companies suffered a loss of 29.17% in the first quarter, up 25 percentage points over the same period last year, 7 times the deficit level in the first quarter of 2019, and 46.67% of apparel and apparel listed companies in the first quarter, a 40 percentage point increase over the same period last year, nearly 8 times the first quarter of 2019, and 17.24% of the first quarter of industrial textiles listed companies, representing a 10.34 increase over the same period last year. Percentage point is 2.5 times the deficit of the same period last year.

Grasping prevention and control and promoting production "double line operations"

Full efforts to promote resumption and resumption of production

From the survey and statistics of the China Textile Planning Research Association in mid 2, nearly 90% of the listed companies of textile and clothing have been started. Some listed companies also make arrangements to invest in new (expanded) textile protective equipment production capacity and make every effort to raise funds and donations. According to incomplete statistics, as of February 23, 2020, the total amount of donations made by textile and apparel listed companies exceeded 276 million yuan, and the estimated value of donations of various kinds of anti epidemic materials exceeded 460 million yuan, which fully demonstrated the strong tenacity and responsibility of the listed companies of textile and clothing.