Analysis Of Economic Operation Of Filament Weaving Industry In The First Half Of 2015

In the first half of 2015, under the influence of macroeconomic environment, China's textile industry has a downward pressure on the economy. Secondly, besides the US dollar, the relative depreciation of the major currencies, the deep adjustment of raw material prices and the rising cost have brought difficulties to the enterprises to raise profits.

Weak industry economy

Low output growth

According to statistics from various clustered areas, in 2015, 1~6, Shengze, Changxin, Xiuzhou, Longhu, Siyang, Ping Wang, Keqiao seven chemical fiber filament fabric production totaled 14 billion 204 million meters, an increase of 0.67% over the same period, and the growth rate decreased by 1 percentage points compared with the first quarter.

The gross industrial output value increased by 2.36% over the same period last year, the growth rate increased by 2.32 percentage points compared with the first quarter, and the product price increased by 1.67% over the same period last year.

As can be seen from table 1, the output of Siyang's industrial clusters has increased by 21.81%, while Changxin, Longhu and Keqiao have maintained steady growth. Xiuzhou and Ping Wang areas are all experiencing negative growth.

Income and profit growth is weak.

The main economic indicators of China's chemical fiber filament weaving industry showed a downward trend in the two quarter after a slow growth in the first quarter, and the income and profits of Enterprises above Designated Size showed a slow growth.

On the one hand, the narrowing of revenue and profit is the lack of market demand. On the other hand, the situation of oversupply of homogeneous products has depressed market prices, resulting in serious squeezing of corporate profits.

According to the statistics of National Bureau of statistics, the main business income of China's above scale chemical fiber weaving and dyeing and finishing enterprises totaled 52 billion 358 million yuan in 2015 1~6, an increase of 0.8% over the same period last year. The growth rate was 7.72 percentage points lower than that of the same period last year. The total profit amounted to 2 billion 394 million yuan, an increase of 2.62% over the same period last year, a decrease of 14.6 percentage points compared with the same period last year, and a decrease of 3.54% in operating profit, indicating that the actual profitability of the weaving industry is not good enough.

According to statistics from various industrial clusters, in 2015, 1~6, Shengze, Changxin, Xiuzhou, Longhu, Siyang, Ping Wang and Keqiao all together increased the main business income of chemical fiber weaving enterprises above designated size. Compared with the first quarter, the main business income increased by 2.32% over the same period of seven months. The increase was 1.93 percentage points lower than that in the first quarter.

Steady profitability

According to the statistics of National Bureau of statistics, in 2015 1~6, the profit rate of China's chemical filament weaving and filament dyeing and finishing industry was 5.12%, an increase of 0.91 percentage points over the same period last year. According to the statistics of industrial cluster regions, the profit margin of chemical fiber filament weaving industry in Shengze, Changxin, Xiuzhou, Longhu, Siyang, Ping Wang and Keqiao seven in 2015 1~6 was 3.78%, an increase of 0.75 percentage points over the same period last year.

On the one hand, the stability of profitability comes from the good news that the national export tax rebate rate has been raised. On the one hand, it also benefits from the consolidation of raw material prices in the first half of this year, which makes some enterprises with short production cycle and small inventory make profits.

Inventory growth control

Faced with the high inventory accumulated in recent years, every enterprise is doing everything possible to compress it.

After adjusting all aspects of low price promotion and control production, by June 2015, the growth rate of enterprise inventories has been greatly reduced, and the growth trend of inventory has been controlled, but the base is still large.

According to the statistics of National Bureau of statistics, in 2015 1~6, the finished product inventory of China's chemical fiber filament weaving enterprises was 6 billion 454 million yuan, an increase of 3.7% compared with the same period last year, and chemical fiber dyeing and finishing was 664 million yuan, an increase of 12.41% over the same period last year.

According to statistics from various industrial clusters, in 2015, 1~6, Shengze, Changxin, Xiuzhou, Longhu, Siyang, Ping Wang, Keqiao seven total production and sales rate of chemical fiber filament weaving enterprises above designated size was 92.28%, an increase of 0.05 percentage points over the same period last year.

The growth rate of production and marketing rate is small, which has declined compared with the two quarter.

Downward pressure on industry economy continues

According to the state

Bureau statistics, in 2015 1~6 months, China's chemical fiber filament weaving industry, the total deficit of loss making enterprises was 203 million 930 thousand yuan, an increase of 20.53% over the same period, with a deficit of 15.36%, a decrease of 0.1 percentage points compared with the same period last year. The average cumulative loss of a single loss enterprise was 1 million 282 thousand and 600 yuan, up 20.52% over the same period last year.

The total deficit of loss making enterprises in chemical fiber dyeing and finishing industry was 34 million 80 thousand yuan, an increase of 28.47% over the same period last year, with a deficit of 17.11%, an increase of 2.44 percentage points compared with that of last year. The average cumulative loss of a single loss enterprise was 1 million 310 thousand and 800 yuan, up 28.46% over the same period last year.

Investment is not active.

By the end of June 2015, China's chemical fiber filament weaving industry actually completed investment of 11 billion 714 million yuan, down 23.03% over the same period last year.

The number of construction projects decreased by 33.73% compared with the same period last year, and the number of new construction projects dropped by 39.83% over the same period last year.

This shows that under the macroeconomic downturn, the enthusiasm of enterprises is low.

Export market slump

In the month of 2015 1~6, the export growth rate of China's textile fabrics had a negative growth under the influence of insufficient international market demand.

According to customs statistics, in 2015 1~6 months, China's textile fabrics totaled 17 billion 531 million US dollars, an increase of 0.15% over the same period last year.

Among them, chemical fiber filament fabric exports totaled 5 billion 483 million US dollars, down 2.05% compared with the same period last year.

Despite the impact of the Spring Festival holiday in the first quarter, the export situation of China's chemical fiber filament fabrics rose slightly. But after entering the two quarter, it is still difficult to resist the pressure of the international market downturn, and there has been a negative growth.

Decline in export prices of filament fabrics

According to customs statistics, in 2015 1~6 months, China's chemical fiber filament fabric exports totaled 5 billion 391 million meters, an increase of 0.12% over the same period last year, the growth rate was 5.98 percentage points lower than that of the same period last year, and the average export price was 1.02 US dollars / meter, down 1.92% from the same period last year.

2015 1~6 months, China's chemical fiber filament fabric export prices generally declined.

From the perspective of specific products, in 2015 1~6 months, China's polyester filament fabrics exported 4 billion 671 million meters, down 0.95% compared to the same period last year, the growth rate was 6.64 percentage points lower than that of the same period last year, the price dropped by 2.88% compared with the same period last year, the export of nylon filament fabrics kept growing, the export volume was 161 million meters, up 28.37% over the same period last year, the growth rate increased 22.13 percentage points over the same period last year, the average price was 1.28 dollars / meter, and decreased by 6.57% compared to the same period last year.

There are many changes in the international market.

Mainly from

In the two quarter of 2015, the major export markets of China's chemical fiber filament fabrics were further adjusted and changed greatly.

Affected by price, exports to the EU dropped by 1.32% compared with the same period last year. The volume of exports to the United Arab Emirates and Brazil dropped by about 20%, due to factors such as orders and pport cycles. By the downstream industry pfer, exports to Bangladesh and Vietnam grew faster, the cumulative export volume for Bangladesh increased by 28.77% over the same period 1~6, and the total volume of exports to Vietnam increased by 19.03% over the same period last year.

Domestic market recovered slightly

Fluctuations in raw material prices

In April 2015, the national development and Reform Commission released the target price of cotton in Xinjiang in 2015 for 19100 yuan / ton, down 700 yuan / ton compared with last year.

Since 2014, domestic cotton prices have dropped by nearly 30%, but there is still a big price gap with international cotton prices.

This year, affected by the sharp decline in oil prices, the price of chemical fiber raw materials has declined significantly.

In the first quarter of 2015, polyester and nylon prices began to decline. Although the two quarter has picked up, the price of raw materials in 2015 is generally lower than that in the second half of 2014. Under the price of raw materials, the market expectation of the downstream filament fabric is lowered, and the downstream weaving industry is more stressed.

Market volume is low.

Affected by the Spring Festival holidays in China, the volume of domestic silk market in the eastern part of the 1~2 fell, and it resumed and began to grow in March.

The volume of domestic market remained stable in the two quarter, but the market paction price was low, and the profits of enterprises were relatively low.

In 2015, the prosperity index of filament fabrics increased and the price index remained low.

Forecast for future market

In the first half of 2015, the downward pressure on the industrial economy remained relatively large. Especially in the face of limited international and domestic market demand, fierce competition for homogeneous products, coupled with high cost, high inventory and low profit, forced enterprises to find ways to survive through restructuring and promoting pformation.

In the second half of the year, facing the complex and changeable environment at home and abroad, there are still many unstable factors in the operation of the market.

On the whole, there are three main problems in the development of China's chemical fiber weaving industry in the second half of the year. One is the uncertainty in the raw material market; the two is the pressure on energy saving and environmental protection; and the three is policy support to help improve.

In the domestic market, due to the pformation of domestic consumption patterns, the domestic demand market has higher requirements for product positioning, functional characteristics, product quality and so on.

In particular, serious homogenization of similar products has greatly weakened the competitiveness of enterprises in the domestic market, and the way of stimulating consumption by reducing prices and reducing profits has not worked.

Therefore, pformation and upgrading, adjusting product mix, and increasing R & D and innovation of new products are very necessary.

This is also the best choice for enterprises to get rid of the low profit trap and stimulate the market value of products.

Facing the second half year market, filament weaving enterprises should strengthen their confidence, constantly improve the quality of fabric products, enhance weaving technology, accurately locate the market, and promote industrial pformation through their own changes.

Industry associations should also guide enterprises to make use of the Internet industry to change production, weaving and research and development models, constantly improve product quality, comprehensively enhance industrial strength, and win market competition with the best quality products.