In the first half of 2020, the global spread of the COVID-19 epidemic had a greater impact on my country’s printing and dyeing industry. In the first and second quarters, major economic indicators such as production, investment and quality efficiency of printing and dyeing enterprises all declined significantly compared with the same period last year. The industry as a whole Showing a negative growth trend. Although some indicators in the printing and dyeing industry have shown signs of recovery since the second quarter, the current pressure on production and operation of enterprises is still relatively prominent, and insufficient demand is still the biggest problem plaguing enterprises. The industry faces greater challenges in maintaining stable operation throughout the year.
01 The decline in output of printed and dyed fabrics continues to decline Narrow
According to data from the National Bureau of Statistics, from January to June 2020, the output of printed and dyed fabrics by printing and dyeing enterprises above designated size was 21.995 billion meters, a year-on-year decrease of 12.04%. Since the second quarter, as the domestic COVID-19 prevention and control situation has continued to improve, domestic economic activities have gradually resumed. In addition, since May, foreign markets have been gradually liberalized, and textile end market demand has rebounded. The decline in output from January to June has narrowed month-on-month. 2.42 percentage points.
02 Operation quality has further declined month-on-month, and corporate operations continue to be under pressure
According to data from the National Bureau of Statistics, from January to June 2020, the proportion of three expenses for printing and dyeing enterprises above designated size was 7.53%, a year-on-year increase of 0.71 percentage points, of which 7.16% was for cotton printing and dyeing enterprises and 10.25% for chemical fiber printing and dyeing enterprises. The finished product turnover rate was 7.58 times/year, a year-on-year decrease of 30.79%; the accounts receivable turnover rate was 3.59 times/year, a year-on-year decrease of 26.67%; the total asset turnover rate was 0.41 times/year, a year-on-year decrease of 24.21%.
From a month-on-month perspective, the proportion of enterprises’ three expenses increased by 0.16 percentage points from January to June, the decline in finished product turnover rate narrowed slightly by 0.32 percentage points, and the turnover rate of accounts receivable and total The declines in asset turnover rates increased by 1.82 and 2.19 percentage points respectively, indicating that the capital turnover pressure of enterprises has not been significantly alleviated, and the operating pressure they face is still relatively high.
03 Enterprise economic benefits have further deteriorated
According to data from the National Bureau of Statistics , from January to June 2020, the main business income of printing and dyeing enterprises above designated size was 105.115 billion yuan, a year-on-year decrease of 21.81%; the main business cost was 92.506 billion yuan, a year-on-year decrease of 21.62%, accounting for 88.00% of the main business income; cost and expense profits The profit rate was 3.30%, down 1.15 percentage points year-on-year; the sales profit margin was 3.16%, down 1.05 percentage points year-on-year; the total profit was 3.316 billion yuan, a significant decrease of 41.46% year-on-year; the export delivery value was 15.087 billion yuan, a year-on-year decrease of 23.95%.
The number of loss-making households among the 1,566 printing and dyeing enterprises above designated size was 665, with a loss rate of 42.46%, an increase of 18.84 percentage points year-on-year; the total loss of loss-making enterprises was 1.887 billion yuan, a significant increase of 92.37% year-on-year. %.
From a month-on-month perspective, although the decline in corporate printing and dyeing fabric output has narrowed since June, corporate profitability is still slightly lower than in May, and there is still great pressure to improve efficiency.
04 The export situation has improved, but the recovery process is relatively slow
According to China Customs statistics, in the first half of 2020, my country’s total import and export of eight major categories of printing and dyeing products was US$10.064 billion, a year-on-year decrease of 29.17%; the trade surplus was US$8.922 billion, a year-on-year decrease of 28.62%.
The import quantity of eight major categories of printing and dyeing products was 269 million meters, a year-on-year decrease of 40.95%; the import value was US$571 million, a year-on-year decrease of 33.19%; the average import unit price was US$2.12/meter, a year-on-year increase of 13.15 US dollars %.
The export quantity of the eight major categories of printing and dyeing was 9.695 billion meters, a year-on-year decrease of 25.45%; the export value was US$9.493 billion, a year-on-year decrease of 28.91%; the average export unit price was US$0.98/meter, a year-on-year decrease of 4.64% .
From a month-on-month perspective, the export quantity and export value of the eight major categories of printing and dyeing products narrowed slightly by 0.92 and 0.63 percentage points respectively from January to June, indicating that the export situation showed signs of improvement, but recovery The process is slower.
05 Major export markets
From the perspective of major export markets, from January to June 2020 In March, the export volume of eight major categories of printing and dyeing products to the United States and the European Union, which are severely affected by the epidemic, fell by more than 30%, but the decline was narrowed by 2.27 and 1.08 percentage points respectively compared with May; the export volume and export value to countries along the “Belt and Road” decreased Both exceeded 20%, and the declines narrowed slightly by 0.90 and 0.64 percentage points respectively; exports to Japan performed relatively well, but with the rebound of the domestic epidemic in Japan since the second quarter, the export quantity and export value of the eight major categories of printing and dyeing products to Japan have declined. There is an expansion trend, which increased by 1.63 and 2.15 percentage points respectively compared with May (see table below).
Currently, the global epidemic is still spreading, and the outlook is still highly uncertain. The epidemic has an impact on the operation and safety of the global supply chain. The impact caused by economic operations will continue to develop and evolve, and the pressure on the industry to maintain smooth operation throughout the year will still be great. Looking forward to the second half of the year, the continuous accumulation of positive factors such as the continued efforts of national macroeconomic policies and the further release of domestic demand will provide important guarantees for the industry’s economy to return to normal track. </p
