In the first quarter of 2020, affected by the sudden outbreak of the new coronavirus, listed textile and apparel companies Withstanding the risks and pressures brought about by the global market downturn and economic downturn, economic operations, production and sales have been greatly affected. Relevant statistics show that in the 11 sub-sectors of the textile industry, except for chemical fiber and other individual industries, all major economic operating indicators in the first quarter declined to varying degrees compared with the same period last year. The overall profit quality and efficiency level declined, and the development growth rate changed from positive to negative. Showing a trend of slowing down.
Judging from changes in monthly economic operation data and special surveys in the first quarter report (January to March), listed textile and apparel companies have shown strong confidence and resilience in the face of the impact of the epidemic. Most companies stated that the current impact on production and operations is temporary and limited. Although performance declined in the first quarter, as production and operations gradually return to normal in the second and third quarters, the impact on the full year should be small and controllable.
The market value loss is higher than the average value of A-shares
In the first quarter of 2020, global stock markets fell across the board, with the largest decline since the 2008 financial crisis. The Composite Index fell 9.83%, and the Shenzhen Component Index fell 4.49%. As of the end of March, there were 3,793 listed companies in the A-share market, with a total market value of 60.69 trillion yuan, a decrease of more than 3.6 trillion yuan from the beginning of the year, and a market value loss of approximately 5.93%.
Data show that the market value of listed textile and apparel companies is relatively greater affected by the epidemic. At the end of March, the total market value of 176 listed textile and apparel companies was 1,302.571 billion yuan, a decrease of 94.99 billion yuan from the market value at the beginning of the year, with a loss rate of 6.80%. This is higher than the average market value loss of A shares of 5.93% in the first quarter.
The overall quality and efficiency of economic operations is showing a downward trend
⑴ According to statistics, as of March 31, 176 textile and apparel companies achieved a total operating income of 251.477 billion yuan and a net profit of 251.477 billion yuan. A total of 11.317 billion yuan, down 5.75% and 36.98% respectively from the same period last year. Among them, 22 companies (accounting for 12.50%) achieved year-on-year revenue growth, 42 companies (accounting for 23.86%) achieved year-on-year net profit growth, and 58 companies suffered losses, with the loss rate reaching 32.95%.
⑵ Statistics show that the net profit rate of listed textile and apparel companies in the first quarter was 4.49%, a decrease of 2.24 percentage points from the same period last year, a decrease of nearly 30%; the inventory turnover rate was 1.05 (times), a decrease of 2.24 percentage points from the same period last year; A decrease of 14.6%; the total asset turnover rate was 0.12 (times), a decrease of 25% from the same period last year.
⑶At the end of the first quarter, the total liabilities of 176 listed textile and apparel companies were 1.146547 billion yuan, an increase of 25.35% over the same period last year; short-term borrowings were 347.637 billion yuan, an increase of 35.95% over the same period last year.
The performance in the first quarter showed obvious industry differentiation characteristics
According to the classified statistics of 98 listed companies in three sub-sectors including chemical fiber, clothing and apparel, and industrial textiles (as follows) Listed in Table 1, Table 2, and Table 3):
⑴The first-quarter revenue growth rate is 8.64% year-on-year for listed companies in the chemical fiber category; listed companies in the industrial textile category and listed companies in the clothing and apparel category The company’s revenue growth year-on-year was lower than the industry average of -5.75%, which were -12.93% and -40.45% respectively.
⑵ The most outstanding year-on-year growth rate of net profit in the first quarter was the listed company in the industrial textile production category, with net profit increasing by 91.09% compared with the same period last year. Chemical fiber production listed companies followed, with net profits increasing by 45.06% year-on-year; clothing and apparel processing listed companies’ revenue growth was -67.14% year-on-year, lower than the industry average of -36.98%.
⑶ Net interest rate is an important indicator to measure the level of corporate income. In the first quarter, the net profit margin of listed chemical fiber companies was 5.65%, an increase of 1.42 percentage points from the same period last year; the net profit margin of listed clothing and apparel companies was 4.51%, a decrease of 5.26 percentage points from the same period last year, a decrease of more than half; The net profit margin was 8.72%, an increase of 4.75 percentage points or 119.65% compared with the same period last year.
(4) In the first quarter, the losses of most textile sub-industries expanded to varying degrees. The loss rate of listed chemical fiber companies in the first quarter was 29.17%, an increase of 25 percentage points from the same period last year, and more than 7 times the loss rate in the first quarter of 2019; the loss rate of listed clothing and apparel companies in the first quarter was 46.67%, an increase of 40 percentage points from the same period last year. percentage points, nearly 8 times the loss in the first quarter of 2019; the loss of listed industrial textile companies in the first quarter was 17.24%, an increase of 10.34 percentage points from the same period last year, and 2.5 times the loss in the same period last year.
Table 1
Table 2
Table 3
Table 4
“Two-front operations” to prevent and control and promote production
Push all efforts to resume work and production
According to the survey statistics conducted by the China Textile Planning and Research Association in mid-to-late February, the recent Ninety percent of listed textile and apparel companies have started operations one after another. Some listed companies have also made emergency arrangements to invest in new (expanded) textile protective equipment production capacity based on the needs of the frontline anti-epidemic.� Go all out to raise money and donate materials. According to incomplete statistics, as of February 23, 2020, the total donation amount of listed textile and apparel companies exceeded 276 million yuan, and the estimated value of donated various anti-epidemic materials exceeded 460 million yuan, fully demonstrating the strong resilience and strong resilience of listed textile and apparel companies. Take responsibility. </p
