Industry Stock Market: Cotton Textile Enterprises Report Weak Performance In The First Half Of The Year

This month, a number of enterprises listed in A-share or Hong Kong stock market with cotton textile as the main business or including cotton textile business issued performance forecasts for the first half of the year, and the overall performance was weak. Among the 10 representative enterprises, 3 have suffered losses, with a loss area of 30%. Only 3 have turned their performance from loss to profit and increased profits, accounting for 30%.

Enterprises with loss or decline in performance generally reflect that the overall effective demand of cotton textile market is weak, the terminal effective demand is insufficient, the sales price of products is down year on year, the sales volume is down year on year and other reasons lead to the decrease of gross profit of main business and the increase of inventory falling price reserves, the net profit has declined, and the operating performance has not improved significantly.

(Source: China Cotton Association)