Weiqiao Textile'S Performance Forecast For The First Half Of The Year Is Lower Than That Of The Same Period Last Year

Recently, Weiqiao Textile Co., Ltd. released the company's performance forecast. According to its unaudited management accounts, it is expected that the interim performance of the group in the six months ending June 30, 2020 will be significantly lower than that in the same period in 2019.

The main reasons are as follows: in the first half of 2020, due to the negative impact of the global new coronavirus pneumonia epidemic, the domestic and foreign textile market continued to be weak, resulting in the overall decline in demand for textiles, the group's cotton textile products sales volume decreased year-on-year, and the sales price also decreased compared with the same period last year; in the first half of 2020, although the group's power business remained profitable, it was still in the The sales volume of electricity decreased year on year.

According to the announcement, Weiqiao textile will pay close attention to the overall industry dynamics of China's textile industry in the second half of the year, timely adjust the group's operation strategy according to the overall situation of the industry, give full play to its own characteristics and advantages, continue to make great efforts in management innovation, cost reduction and efficiency improvement, R & D investment and green intelligence, so as to enhance its competitiveness in the domestic and foreign markets.