Listed Company: Cotton Textile Enterprise Semi Annual Report Performance Preview

Recently, most of the semi annual reports of cotton textile listed companies have been released, and the main economic indicators show that the overall performance is weak. 16 enterprises suffered losses of 31%, 44% of which suffered from declining revenue, and 69% of which suffered from losses and declining profits. The total revenue of 16 enterprises decreased by 9.7% year on year, and the revenue profit margin was 1.51%. Excluding Zhongtai and Tianhong, which suffered the largest losses in the same period last year, the total revenue of 14 enterprises decreased by 5.1%, the total profit decreased by 39.8%, and the revenue profit margin was 2.44%, down 1.41 percentage points. Enterprises with loss or decline in performance generally mention that the reasons for performance change are: the overall weak effective demand of cotton textile market, insufficient effective demand at the terminal, the year-on-year decline in product prices, and the year-on-year decline in sales volume.

(Source: China Cotton Association)