In 2020, the COVID-19 epidemic continued to spread, and the world’s century-old changes accelerated. my country’s printing and dyeing industry experienced ups and downs in development, withstood complex and severe tests, and achieved a difficult recovery under the severe impact of the epidemic. The industry as a whole The recovery and development trend has been maintained. At the end of 2020, the capacity utilization rate of printing and dyeing enterprises has basically returned to the level of the same period in 2019. However, the operation and profitability of enterprises still declined significantly compared with the same period of 2019, and the industry still faces great pressure in returning to the pre-epidemic level.
01 Production growth rebounded steadily
According to data from the National Bureau of Statistics, from January to December, The output of printed and dyed fabrics by printing and dyeing enterprises above designated size was 52.503 billion meters, a year-on-year decrease of 3.71%. The decline in output narrowed by 3.50 percentage points from January to November, and the narrowing rate was the largest since the fourth quarter.
Figure 1 Printed and dyed fabric output and year-on-year change trends of designated printing and dyeing enterprises since 2020. In the month of December, the output of printed and dyed fabrics reached 6.254 billion meters, a year-on-year increase of 16.98%, the highest since 2020 Maximum output in a single month. Since September, the monthly output of printing and dyeing fabrics has achieved positive growth for four consecutive months, indicating that industry production has accelerated its recovery since the fourth quarter.
Figure 2 Monthly output and year-on-year change trends of printed and dyed fabrics by designated printing and dyeing enterprises since 2020
02 Operation quality continues to improve, but the recovery process is relatively slow
According to data from the National Bureau of Statistics, from January to December, printing and dyeing above designated size The ratio of three expenses for enterprises was 6.97%, an increase of 0.28 percentage points year-on-year. Among them, the ratio of cotton printing and dyeing enterprises was 6.70%, and that of chemical fiber printing and dyeing enterprises was 9.01%. The finished product turnover rate was 17.85 times/year, a year-on-year decrease of 20.05%; the accounts receivable turnover rate was 7.99 times/year, a year-on-year decrease of 21.31%; the total asset turnover rate was 0.94 times/year, a year-on-year decrease of 14.95%.
Compared with January to November, from January to December, the enterprise’s three fee ratios decreased by 0.02 percentage points; finished goods turnover rate, accounts receivable turnover rate and total asset turnover rate The rate of decline narrowed by 2.63, 2.76 and 1.34 percentage points respectively. Since the third quarter of 2020, as the domestic epidemic prevention and control situation continues to improve, the operation quality of the printing and dyeing industry has continued to improve. However, compared with the production recovery process, the gap between the main operation quality indicators from January to December 2020 and the same period in 2019 is still obvious. It will still take time for the industry to achieve full recovery.
Table 1 Main operational quality indicators of printing and dyeing enterprises from January to December 2020
03 Economic benefits continue to recover, but profitability pressure remains prominent
Data from the National Bureau of Statistics show that from January to December, the main business income of printing and dyeing enterprises above designated size was 254.132 billion yuan, a year-on-year decrease of 12.15%; the main business cost was 218.995 billion yuan, a year-on-year decrease of 11.91%, accounting for 86.17% of the main business income; the total profit was 12.668 billion yuan, a year-on-year decrease of 19.01%; the cost and expense profit margin was 5.35%, a year-on-year decrease 0.49 percentage points; sales profit margin was 4.98%, down 0.43 percentage points year-on-year; export delivery value was 34.591 billion yuan, down 16.83% year-on-year. Compared with January to November, from January to December, the decline in main business income and total profit narrowed by 1.88 and 3.90 percentage points respectively, the cost profit margin and sales profit margin increased by 0.39 and 0.34 percentage points respectively, and the export delivery value The decline narrowed by 1.11 percentage points.
From January to December, 431 of the 1,581 printing and dyeing enterprises above designated size suffered losses, accounting for 27.26% of the losses, a year-on-year expansion of 8.34 percentage points, and a decrease of 4.24 percentage points from January to November. percentage points; the total loss of loss-making enterprises was 1.889 billion yuan, a year-on-year increase of 15.82%, and the growth rate narrowed by 18.79 percentage points from January to November.
After experiencing significant fluctuations in the economic performance of printing and dyeing enterprises in the first half of the year, major economic indicators showed a gradual recovery trend in the second half of the year. Corporate profits improved significantly compared with the first half of the year, but the year-on-year decline was still The industry’s profit trend needs to be further consolidated.
Table 2 Main economic indicators of printing and dyeing enterprises from January to December 2020
Currently, globally The epidemic has not been fundamentally alleviated, the external environment remains uncertain, and the foundation for industrial recovery is not yet solid. Coupled with difficulties and problems such as increased industry comprehensive costs, arduous environmental protection tasks, and intensified market competition, the industry faces many challenges in maintaining smooth operation. But at the same time, as the only major economy in the world to achieve positive growth in 2020, my country has shown strong resilience in economic development, which provides a strong guarantee for the continued recovery of the printing and dyeing industry. In 2021, under the background of accelerating the construction of a new “dual cycle” development pattern dominated by the domestic large cycle, relying on my country’s world’s largest and most complete textile industry system, the printing and dyeing industry has the foundation and ability to achieve steady improvement in economic operations. condition. </p
