As of January 4, 2021, the third quarter reports of 64 listed textile and apparel companies in Shanghai and Shenzhen stock exchanges that reporters are following have been disclosed. The performance report shows that 12 companies’ operating income and net profit attributable to shareholders of listed companies both increased, while 40 companies’ operating income and net profit attributable to shareholders of listed companies both decreased.
Industry prosperity gradually and steadily recovers
Based on the growth rate of net profits attributable to shareholders of listed companies, a total of 18 companies saw net profits increase, and 10 companies saw net profits increase by more than 30%. The net profits attributable to shareholders of listed companies of Jiangnan High Fiber, Jialinjie, Huasheng Co., Ltd., and Nanfang Co., Ltd. increased rapidly, 317.43%, 274.85%, 220.13%, and 112.04% respectively; Youngor, Huafeng Microfiber, Peacebird, and Baoxi The net profits attributable to shareholders of listed companies for Niao, Hengli Petrochemical and Huafang increased by more than 30%, reaching 81.48%, 52.52%, 50.04%, 47.38%, 45.16% and 32.66% respectively.
Based on the decline in net profits attributable to shareholders of listed companies, a total of 39 companies saw a decline in net profits, and 25 companies saw a decline in net profits. Profits fell by more than 30%. The net profits attributable to shareholders of listed companies for Wensi Co., Ltd., Jilin Chemical Fiber, Pathfinder, Zhongtai Chemical, Anael, Meibang Apparel, Shanghai Sanmao, Huafu Fashion, Shinur, and ST Modern dropped significantly, reaching 865.43% respectively. %, 357.01%, 282.80%, 202.99%, 202.68%, 196.78%, 173.88%, 159.84%, 130.60%, 128.29%; Sanyou Chemical, Lutai Textile, Semir Clothing, Sunshine Shares, Souyute, Dongfang Shenghong, The net profits attributable to shareholders of listed companies fell by more than 50% for Jinlun Holdings, Shenma Holdings, Xinfengming, Xinxiang Chemical Fiber, Septwolves, Langzi Holdings, Kaikai Industrial, Fafa Rabbi, and Heilan House, respectively, to 93.88%. , 83.73%, 83.48%, 81.25%, 80.20%, 80.16%, 77.29%, 76.62%, 76.51%, 74.76%, 69.81%, 68.18%, 61.32%, 51.12%, 50.69%.
Data show that the total retail sales of consumer goods from January to August 2020 decreased by 8.6% year-on-year, compared with the same period from January to July. The growth rate improved by 1.3 percentage points, among which clothing, shoes, hats, needles, and textiles decreased by 15% year-on-year, which was an improvement of 2.5 percentage points from the growth rate from January to July respectively. The overall retail and clothing categories grew by 0.5% and 4.2% respectively in August. %, both of which have turned positive for the first time since the epidemic in 2020.
Haitong Securities analysis believes that although the negative impact of overseas epidemics on the global economy is becoming long-term and structured, The recovery process of China’s economy is not only making steady progress in terms of total volume, but also gradually improving in terms of structure. The main reason is that some overseas countries are gradually returning to normal operations, and the demand for textile and clothing products has increased. The epidemic situation of some small overseas economies is still unclear, and manufacturing orders have been transferred to China. Due to the good control of the epidemic in my country, manufacturing companies are fully operational. At the same time, due to the industrial The chain is complete and capable of undertaking downstream order requirements.
Leading companies continue to maintain high growth
A group of companies with outstanding performance in the first half of the year. The growth momentum continued to be maintained in the third quarter, and many of the leading companies’ single-quarter growth rates were even more gratifying.
Jiangnan High-fiber, which has rapid growth in net profit and strong growth momentum, achieved revenue of 220 million yuan in the first three quarters, year-on-year. A decrease of 19.7%, a month-on-month decrease of 52.6%; the single-quarter net profit attributable to the parent company increased sharply by 64.9% year-on-year to 38.647 million yuan, a month-on-month decrease of 75.9%, and the single-quarter non-net profit was 32.282 million yuan, a year-on-year increase of 38.1%. During the reporting period, the company’s net profit increased significantly by 317.4% to 210 million yuan, and the performance growth rate was impressive. In addition, excluding the impact of non-recurring gains and losses and other factors, the company’s core profit contribution during the reporting period was 95.2%, showing strong growth momentum.
Jialinjie, whose revenue and net profit have doubled, is mainly engaged in traditional advantageous industries, namely mid-to-high-end knitting and weft knitting functionality The research and development of fabrics and ready-made garments provides customers with high-quality services in the entire industrial chain of weaving, dyeing and ready-made garments. During the reporting period, affected by the COVID-19 epidemic, the company took many measures to overcome difficulties. On the one hand, it maintained close contact with customers, stabilized orders from original large customers, and increased efforts to develop the domestic market to maintain the overall market share of the original main business. , on the other hand, during the epidemic period, it actively deployed the production of masks, protective clothing and other anti-epidemic items, found new breakthrough points for the company’s development, and achieved growth in the company’s operating performance despite the disadvantages.
Huasheng Co., Ltd. is mainly engaged in the production, sales and foreign trade of ramie spinning, weaving, printing and dyeing, clothing and apparel, and medical machinery. exit. In the first half of 2020, the company achieved revenue of 463 million yuan, a year-on-year decrease of 13.09%; it achieved a net profit attributable to shareholders of the listed company of 21.9304 million yuan, turning a loss into a profit compared with the same period last year. The growth trend continued in the first three quarters of 2020, with net profit of 31.7559 million yuan, a year-on-year increase of 220.13%.
Apparel listed companies are taking advantage of the trend
From an industry perspective, online sales in various industries improved faster in September than in August, with sportswear and home textiles achieving outstanding performance. Affected by the epidemic, offline sales of clothing companies have been sluggish, and increasing their online presence has become the choice of most clothing companies. Online clothing sales have been significantly boosted by active marketing. In particular, leading sports brands have achieved good results in digital transformation and online consumer operations. Listed apparel companies, whose performance was severely affected by the epidemic in their semi-annual reports, seem to have gradually begun to recover in the second half of the year.
Among them, Kutech Intelligence, which has achieved double growth in revenue and net profit, has been among the top three companies in the company.The annual operating income increased by 28.04% year-on-year, and the net profit attributable to shareholders of listed companies increased by 8.77% year-on-year. Kute Intelligent explained that the main reason for the change in performance during the reporting period was that after the outbreak, the company actively participated in the production and sales of anti-epidemic materials and achieved better results. Therefore, the profit as of the end of the third quarter increased compared with the same period last year.
In the first three quarters, the company achieved total operating income of 510 million yuan, a year-on-year increase of 15.28%; it achieved listing The company’s shareholders’ net profit was 49.5419 million yuan, a year-on-year increase of 16.66%. The relevant person in charge of Mugaodi said that the company’s main business is the design, production and sales of camping tents, outdoor clothing and other outdoor products. This year’s epidemic has made people pay more attention to their health and actively participate in outdoor sports.
Peacebird’s revenue in the first three quarters of 2020 increased by 10.35% year-on-year; the net profit attributable to shareholders of listed companies increased by 50.04% year-on-year %. The announcement shows that in the first three quarters of 2020, the company continued to increase the proportion of e-commerce business based on the macroeconomic situation and market changes during the epidemic, and actively promoted new social retail channels such as mini programs and Internet celebrity live broadcasts; at the same time, it focused on operations and store profitability. The improvement of capabilities and the improvement of operation quality have led to the growth of online and offline omni-channel sales. Among them, online revenue increased by 29.77% year-on-year.
Youngor disclosed its third quarterly report. The company’s revenue in the first three quarters of 2020 was 8.66 billion yuan, a year-on-year increase of 26.1%; Quarterly net profit was 5.584 billion yuan, a year-on-year increase of 81.48%. During the reporting period, the company sold a total of 220 million shares of Bank of Ningbo, and the investment segment achieved a net profit of 3.556 billion yuan.
The company’s net profit in the third quarter was due to the recovery in terminal retail sales of its brands in the second half of the third quarter. A year-on-year increase of 141.19% has driven cumulative net profit to expand from a slight increase of 3.98% in the first half of the year to a year-on-year increase of 47.38% in the first three quarters.
Haitong Securities research report analysis believes that the main reasons for the gradual recovery of listed apparel companies are: first, the domestic suspension of operations in the early stage Stores have reopened, and the impact of the epidemic has gradually weakened; second, clothing companies have actively deployed online channels, launching mini programs, micro-malls, etc. to increase consumer stickiness; third, various regions have launched consumer coupons to stimulate consumption, and clothing consumption has also benefited. </p
