Nanjing Chemical Fiber Manufacturers Lose Money In The First Half Of 2020

On July 31, Nanjing chemical fiber released the semi annual report of 2020. In the first half of 2020, the company realized operating income of 136647387.14 yuan, a year-on-year decrease of 66.25%; the net profit attributable to shareholders of listed companies was -41303870.73 yuan, which was increased compared with the loss in the same period of last year.

At the end of the reporting period, the total assets of the company were 1822216725.72 yuan, down 5.56% compared with the end of the previous year; the net assets attributable to shareholders of the listed company were 1346434032.94 yuan, down 2.89% compared with the end of last year.

It is understood that 2020 is the key year for the transformation and upgrading of the company. The substantial impact of Sino US economic and trade frictions and mutual tariff increases on domestic economic development is still continuing. The outbreak of new crown pneumonia at the beginning of the new year has brought about a serious decline in the prosperity of the textile and chemical fiber industry. The textile export has shrunk, and the operating rate of viscose staple fiber downstream enterprises has dropped sharply. The staple fiber price was 13200 yuan / ton by the end of 2018, and has dropped to 8100 yuan / ton by the end of June 2020, a decrease of nearly 38.63% As a result, it is very difficult to sell staple fiber products, and manufacturers have reduced production and production to reduce losses. The company is facing an extremely severe business situation.

Closely around the work policy of "integrating and gathering effective resources and promoting industrial transformation and upgrading", the company has made concerted efforts to strengthen target management, practice hard, work hard to resolve risks, actively integrate various resources, and strive to promote the construction of key projects with an annual output of 40000 tons of Lyocell staple fiber, the standardized disposal of idle assets of Jinling bio based company, the stable production, quality improvement and consumption reduction of Jiangsu Jinling Second, the main business merger and development and other major work, production and operation activities carried out in an orderly manner.