From January to August 2022, the production of the printing and dyeing industry continued to slow down, and the decline in the output of printed and dyed fabrics by printing and dyeing enterprises above designated size still showed an expanding trend; the main operating quality indicators fluctuated slightly, and the efficiency of the industry’s production and sales connection continued to improve; the growth rate of the main economic benefit indicators The growth rate of total profits has declined significantly, and corporate profits have been significantly under pressure; foreign trade has shown strong development resilience, and the export of major printing and dyeing products has maintained an upward trend in both volume and price.
The recovery of terminal demand is slow and enterprises have insufficient release of production capacity
According to data from the National Bureau of Statistics, from January to August 2022, the output of printed and dyed fabrics by enterprises above designated size in the printing and dyeing industry was 36.098 billion meters, a year-on-year decrease of 8.34% %, the decline expanded by 1.51 percentage points from January to July. On a month-on-month basis, the output of printed and dyed fabrics by printing and dyeing enterprises above designated size in August was 4.622 billion meters, a decrease of 1.44% from July. The monthly output continued to hit a new low for the year, reflecting that the current shortage of demand is still quite prominent, and the overall capacity utilization rate of printing and dyeing enterprises is low. . Data from the National Bureau of Statistics shows that from January to August, the national retail sales of clothing, shoes, hats, and knitted textiles above designated size decreased by 4.4% year-on-year. The decline was 1.2 percentage points narrower than that from January to July, but it was 29.2 percentage points lower than the same period last year. Affected by factors such as the frequent spread of the epidemic, the accelerated tightening of monetary policies in Europe and the United States and other countries, and the continuation of geopolitical risks, the consumer demand for textiles and clothing in the end market, especially the domestic market, has recovered relatively slowly.
Operation quality indicators fluctuate slightly, and the efficiency of production and marketing connection continues to improve
According to data from the National Bureau of Statistics, from January to August 2022, the proportion of three fees for printing and dyeing enterprises above designated size was 6.38%, a year-on-year decrease of 0.49 percentage points, including 6.19% for cotton printing and dyeing enterprises and 7.64% for chemical fiber printing and dyeing enterprises; the turnover rate of finished products is 17.07 times/year, a year-on-year slowdown of 1.72%; the accounts receivable turnover rate is 8.63 times/year, a year-on-year increase of 0.61%; The total asset turnover rate was 1.02 times/year, a year-on-year increase of 0.64%. Compared with January to July, from January to August, the growth rate of accounts receivable turnover rate and total asset turnover rate of the printing and dyeing industry fell slightly by 0.47 and 1.78 percentage points respectively, and the decline in finished product turnover rate narrowed by 0.64 percentage points, marking the second consecutive year. The industry has shown a recovery trend in recent months, and the efficiency of the industry’s connection between production and sales continues to improve.
The growth rate of efficiency indicators has dropped, and corporate profits are obviously under pressure
According to data from the National Bureau of Statistics, from January to August 2022, the operating income of printing and dyeing enterprises above designated size was 202.446 billion yuan, a year-on-year increase of 8.49 %; total profit achieved was 7.617 billion yuan, a year-on-year increase of 0.86%; cost and expense profit margin was 4.00%, a year-on-year decrease of 0.30 percentage points; sales profit margin was 3.76%, a year-on-year decrease of 0.29 percentage points; export delivery value was 26.561 billion yuan, a year-on-year increase 6.08%. The number of loss-making households among the 1,704 printing and dyeing enterprises above designated size was 572, accounting for 33.57% of the total; the total loss of loss-making enterprises was 2.229 billion yuan, a year-on-year increase of 58.95%.
Since August, the main economic indicators of the printing and dyeing industry have been under obvious pressure. Compared with January to July, the growth rate of operating income of printing and dyeing enterprises above designated size fell by 2.03 percentage points from January to August, and the growth rate of total profits fell. 9.21 percentage points, the decline in sales profit margin expanded by 0.28 percentage points, and the growth rate of total losses of loss-making enterprises increased by 7.66 percentage points. The growth rate of total profits of printing and dyeing enterprises above designated size has declined significantly, while the total losses of loss-making enterprises are still growing, reflecting that the current production and operation pressure of most enterprises is still high.
Foreign trade shows strong resilience and exports continue to grow
According to China Customs statistics, from January to August 2022, the export volume of eight major categories of printing and dyeing products was 20.085 billion meters, a year-on-year increase of 10.06% ; The export value was US$21.286 billion, a year-on-year increase of 18.31%; the average export unit price was US$1.06/meter, a year-on-year increase of 7.50%. In terms of products, from January to August, the export quantity and export value of synthetic filament fabrics increased by 18.27% and 30.15% respectively year-on-year. It is the category with the highest export share and the fastest growth among the eight categories of printing and dyeing products; the export of cotton products is due to Affected by the so-called “Xinjiang Act” introduced by the United States, the export volume of pure cotton dyed fabrics and pure cotton printed fabrics decreased by 17.11% and 20.54% respectively year-on-year.
Generally speaking, the current printing and dyeing industry is still facing many unstable and uncertain factors, and printing and dyeing enterprises are still facing relatively large phased difficulties in production and operation. Faced with high manufacturing costs and insufficient production orders, business operating pressure continues to increase. At the same time, under the influence of the epidemic, overall domestic consumption has been weak. As developed economies such as Europe and the United States accelerate the tightening of monetary policies, international market consumption expectations have also declined. The increased possibility of shrinking external demand has restricted the export of my country’s printing and dyeing products. Real pressure for the industry to achieve steady development still exists, and the foundation for steady recovery still needs to be further consolidated.
Keywords:
Printing and dyeing industry
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