Economic Analysis of Printing and Dyeing Industry in the First Half of 2010 - 6

Weak recovery of investment

From January to May, the actual investment in the printing and dyeing industry increased by 0.21% year-on-year, and the growth rate decreased by 1.85 percentage points year-on-year, which was lower than the growth rate of textile industry investment by 19.66 percentage points. The uncertainties in the international market environment and the cost of domestic production factors continued to increase. The lack of confidence in the market prospects and the development of the industry makes it difficult for industry investment to recover.

Pressure on production costs continues to increase

Since the beginning of this year, the purchase prices of raw materials and fuels have continued to rise. According to the statistics of the China Textile Industry Association Statistics Center, from January to April this year, the average price of coal for printing and dyeing enterprises reached 756.9 yuan per ton, up 28% year-on-year. The average price of steam is 153.24. RMB/ton, up 14.47% year-on-year; electricity average price was RMB 0.68/kWh, up 4.9% year-on-year; water price was RMB 2.17/ton, up 7.2% year-on-year; consumption of dyestuffs and raw materials increased by 6.7% year-on-year; labor cost increased by 10%~ 20%, the pressure on production costs continued to increase. From January to April, the average processing fee for bleached cloth, dyed cloth and printed cloth decreased by 1.36% year-on-year, by 8.58%, and by 8.57%. The cost of various production factors increased substantially. At the same time, the prices of corporate products have not been correspondingly increased, and companies are facing greater and greater cost pressures.

Accelerate structural adjustment

Under the guidance of the “Regulations on Textile Industry Adjustment and Revitalization”, under the promotion of relevant industry policies such as the elimination of backward industries, the printing and dyeing companies have actively adjusted their structure and transferred methods, and the industrial restructuring has steadily advanced. From January to May, printing and dyeing enterprises above designated size The cost-cost margin was 3.94%, an increase of 0.76 percentage points year-on-year; the proportion of three fees was 4.97%, a year-on-year decrease of 0.30 percentage points; the labor productivity (current production value) was 207,700 yuan/person, an increase of 26,600 yuan/person over the same period; the per capita profit was 7,351 yuan/ People, an increase of 2,264 yuan/person, industry management level and production efficiency gradually improved. Finished product turnover rate 9.76 times, an increase of 2.10 times over the same period, the company's market reaction capacity and operational efficiency improved. Current assets turnover rate 1.0715 times, an increase over the same period 0.06 times; the total asset contribution rate was 4.05%, an increase of 0.62 percentage points over the same period of last year, and the efficiency of corporate asset operations improved; the contribution rate of new products was 6.59%, an increase of 0.26 percentage points year-on-year, and the ability of independent innovation of enterprises increased.

Development Trends and Forecasts

In the international situation, the unemployment rate in the United States, Europe, Japan, and other economies remained high. In May, the unemployment rates in the United States, Japan, and the European Union were 9.7%, 5.2%, and 10.0%, respectively. Consumer purchasing power did not recover substantially. Export growth was mainly Restocking. The current European and American economies are facing a large downside risk, Europe and the United States inventories and orders growth have shown signs of slowing down, inventory consolidation efforts weakened. The EU debt crisis broke out, so that the EU countries to reduce expenditures, reduce consumption, while the euro devaluation Forcing the appreciation of the *** will affect China’s exports. The outbreak of the EU debt crisis has slowed the progress of the EU’s and even the global economy’s recovery, showing that there are many hidden concerns in the global economic recovery, and that the major global economies are considering or considering exiting the financial crisis. The introduction of economic stimulus plans increased the export uncertainty in the second half of the year.

In the domestic situation, the increase in raw material costs and the increase in labor costs have become an inevitable trend. The pressure on production costs of enterprises has continued to increase. The appreciation of anticipation poses a threat to the export of textiles, which will result in the loss of export orders, the reduction of foreign exchange, and the decline in profits, leading to exports. The pace of recovery has slowed, and domestic sales have increased. In addition, there is still some inflationary pressure in China. This year, China's macroeconomic stimulus policies gradually withdraw. Given the current economic growth shows a trend of correction, the pace of withdrawal of economic stimulus policies in the second half is expected to slow down. The government will implement the policy of "stabilizing fiscal resources and tightening the currency". While maintaining the continuity of fiscal policy, it will gradually tighten monetary policy on the other hand.

Development trend: In the context of slowing global economic growth and China's economic growth rate, the growth rate of the printing and dyeing industry will slow down in the second half of 2010, but it will remain at a relatively high level. It is expected that the annual output of printing and dyeing enterprises above designated size will increase. With a speed of 10%, gross industrial output growth rate of 17% and profit growth rate of 35%, export growth will face greater challenges in the second half of the year, and the pace of export recovery will slow down. It is expected that exports will maintain an increase of 10% to 12% for the whole year. Speed. The development of the industry is facing the challenges of complex domestic and international situations. Changing the mode of economic development is urgently needed. Printing and dyeing enterprises must accelerate the transfer of methods, adjust the pace of the structure, rely on scientific and technological progress and technological innovation, and gradually realize high efficiency, high quality, low carbon and brand internationally. Turning.