Analysis of Textile Machinery Industry Operation in the Third Quarter of 2010

From January to August 2010, the import and export of China's textile machinery industry recovered better than expected, and it has basically returned to pre-crisis levels, and the trade balance has further narrowed. It is expected that the global economy will continue to improve in the latter part of 2010, and the effects of domestic stimulus policies will continue to show. The stage of corporate supplementary inventories will continue and the economic operation will stabilize, and economic growth may show a trend of highs and lows.

The scale of the industry continues to expand From January to August 2010, the textile machinery industry achieved sales revenue of 56.990 billion yuan, an increase of 50.16%; assets totaled 72.716 billion yuan, an increase of 25.77%; number of companies is 1058; the average number of employees It was 14.50 million people, an increase of 4.05% over the same period last year. It can be seen that after five years in the textile machinery industry, the number of enterprises has grown from 730 to 1,058, an increase of 76.04%. The gradual reduction in the number of employees, the increase in sales revenue, and the increase in total assets have further confirmed the level of manufacturing technology in the industry. improve.

From January to August, the industrial sales value of textile machinery industry was 56.162 billion yuan, an increase of 48.85% year-on-year; the ratio of production to sales was 97.40%, a year-on-year decrease of 1.59 percentage points; the capital occupied by finished products was 3.948 billion yuan, a year-on-year decrease of 9.68%.

From January to August 2010, the cost of textile machinery industry grew faster. From January to August 2010, the total cost of the textile machinery industry was 56.162 billion yuan, an increase of 48.85% year-on-year. Among them, the cost of product sales was 48.838 billion yuan, an increase of 46.69% year-on-year, accounting for 91.16% of the total cost and expenses.

From January to August 2010, the total profit of the textile machinery industry was 3.418 billion yuan, an increase of 172.04% year-on-year; the loss of loss-making enterprises was 162 million yuan, a year-on-year decrease of 63.74%; the loss was 13.16%, a decrease of 10.09 over the same period of the previous year. Percentage points; the depth of loss was 8.80%, which was a greater improvement than the same period of last year.

Industry operating performance continues to grow From January to August 2010, the growth rate of sales revenue of the textile machinery industry was 50.16%, an increase of 50.69 percentage points year-on-year; the total assets growth rate was 25.77%, an increase of 24.05% over the same period of last year; the growth rate of capital preservation was 123.14%. , an increase of 21.89 percentage points over the same period last year.

From January to August 2010, the textile machinery industry has generally improved its profitability. The gross profit rate of the textile machinery industry was 14.31%, an increase of 2.03 percentage points year-on-year; the profit margin of sales revenue was 6.00%, an increase of 2.69 percentage points year-on-year; the profit margin of cost expenses was 6.38%, an increase of 2.97 percentage points year-on-year; the profit margin of assets was 4.70%. The year-on-year increase of 2.53 percentage points; net asset profit margin was 11.83%, an increase of 6.47 percentage points year-on-year. From January to August 2010, the asset-liability ratio of the textile machinery industry was 60.26%, an increase of 0.85 percentage points from the same period last year; interest guarantee multiple was 7.93 times, year-on-year. Increased 3.89; property rights ratio was 1.52 times, down 0.05 from the same period of last year.

From January to August 2010, the total asset turnover rate of the textile machinery industry was 78.37 times, an increase of 12.73 times; the current assets turnover rate was 1.24 times, an increase of 0.17 times; the finished product turnover rate was 0.35 times, a year-on-year decrease of 0.01 Times.

According to the China Business Economic Index, the business climate index of the textile industry in the second quarter of 2010 was 99.4, which was higher than the 1.01 percentage point in the same period of last year and 1.40 percentage points lower than the same period of the manufacturing industry business climate index.

From January to August 2010, the investment in fixed assets of the textile machinery industry was 4.433 billion yuan, a year-on-year increase of 10.50%. The fixed assets investment in the textile machinery industry accounted for 3.34% of the fixed assets investment in the textile industry, a slight decrease from the same period of last year. 0.42 percentage points, the growth of fixed assets investment in the textile machinery industry slowed down.

The industrial operation in key regions was in good condition. From January to August 2010, 31 provinces, municipalities and autonomous regions across the country had exports of textile machinery products in 29 provinces, municipalities and autonomous regions, and the top five provinces and municipalities accounted for 85.78% of the total.

Jiangsu, Zhejiang, and Shandong provinces are the major provinces for the production of textile machinery in China. From January to August 2010, the sales revenue of products was 177.25, 71.20, and 12.251 billion yuan respectively. The total sales revenue of the three provinces accounted for 65.09% of the country's total. Product sales revenue concentration decreased by 2.91 percentage points year-on-year.

From January to August 2010, the total profit of the textile machinery industry was 3.418 billion yuan, of which the top three provinces were Jiangsu, Shandong, and Zhejiang, with total profits of 1.219 billion yuan, 767 million yuan, and 487 million yuan respectively. yuan. The total profits of the three provinces accounted for 72.37% of the total industry, and the total concentration of profits dropped by 19.17 percentage points year-on-year.

The speed of recovery of exports and imports exceeded expectations. At present, foreign trade has basically returned to the level before the financial crisis. The trade balance has gradually narrowed, and the recovery rate of imports and exports has exceeded expectations. In spite of this, the foundation of the global economic recovery is still relatively fragile, signs of slower recovery momentum are more evident, and overseas stock-repairing activities have basically ended. At the same time, the pace of domestic restructuring has accelerated, the momentum of economic growth has slowed down, and adjustments have been made to export tax rebates and exchange rate policies. Uncertain factors such as the increase in labor costs and raw material costs have affected the development of foreign trade.

From January to August 2010, total import and export of textile machinery reached US$3.726 billion, a year-on-year increase of 56.84%. Among them, US$ 1.084 billion was exported, a year-on-year increase of 43.35%, an increase of 75.76 percentage points over the same period of the previous year; imports were US$ 2.642 billion, an increase of 63.13% over the same period of last year, an increase of 108.08 percentage points over the same period of last year.

Affected by factors such as the domestic market rebounding better than the international market, import demand picked up faster than exports, and import growth was higher than export growth by 19.78 percentage points.

Imports of textile machinery products are optimistic. According to customs statistics, from January to August 2010, textile machinery was imported from 54 countries and regions. The total value of imports was 2.642 billion U.S. dollars, a year-on-year increase of 63.13%.

From the category of imported products, the import of knitted machinery ranked first. Total imports amounted to US$7.11 billion, an increase of 12.69% year-on-year, and imports of knitting machinery accounted for 26.92% of total imports, which represented a decrease of 12.06 percentage points from the same period of last year.

In January-August 2010, the main countries and regions for textile machinery imports were mainly Japan, Germany, Italy, China’s Taiwan region, Belgium, and other countries. The total trade volume of the top five import countries and regions was 2.219 billion U.S. dollars, a year-on-year increase. 65.50%, accounting for 83.99% of the total imports, of which Japan's textile machinery exports to China ranked first in the US $ 824 million, an increase of 76.18%, and mainly knitted machinery, trade volume was $ 196 million, a year-on-year decrease of 15.24%. The specific situation is shown in the following table.

From the perspective of the nature of the importing enterprises, the import of collective enterprises and joint ventures rebounded strongly. The growth rate of imports of private enterprises was higher than the overall increase rate of 20.33%, while the growth rate of imports of wholly-owned enterprises, state-owned enterprises and cooperative enterprises was lower than the overall increase. Among them, the total import value of private enterprises was 825 million U.S. dollars, an increase of 83.46 percent year-on-year, accounting for 31.23 percent of the total import volume. The import of textile machinery was dominated by the general trade mode. The total import volume was 1.962 billion U.S. dollars, accounting for 74.27% of the total import volume, which was a year-on-year increase. The growth rate of 107.54% of general trade is higher than the overall increase of 44.41 percentage points. The rapid increase in the growth of general trade imports indicates that the industry’s demand for equipment imports remains strong.

The foreign-invested enterprises imported equipment and articles ranked second, with total imports of 291 million U.S. dollars, accounting for 19.48% of total imports, an increase of 19.43% year-on-year.

From January to August 2010, 31 provinces, municipalities and autonomous regions across the country had 28 provinces and cities with different numbers of imports. Zhejiang, Jiangsu, Guangdong, Shanghai, Shandong and other five provinces and cities ranked top five in total imports, accounting for 88.16% of total imports. The total import volume of Zhejiang Province ranked first at US$726 million, a year-on-year increase of 71.91%, accounting for 27.47%. Among the top five provinces and cities in the province, except for the growth in Guangdong province which is far lower than the overall growth rate, the growth rates in the other four provinces are all higher than the overall growth rate.

Exports of textile machinery products continue to grow According to customs statistics, textile machinery exports from January to August 2010 amounted to US$ 1.084 billion, an increase of 43.35% year-on-year.

From the above table, we can see that except for the negative growth of knitted machinery, the growth rate of printing and dyeing finishing machinery is lower than the overall growth rate, and the growth rate of other textile machinery categories is higher than the overall level. Among them, the export value of knitted machinery was 305 million U.S. dollars, a year-on-year decrease of 8.50%, accounting for 28.08%, ranking first. The rest were auxiliary equipment and spare parts, printing and dyeing finishing machinery, chemical fiber machinery, spinning machinery, weaving machines, non-woven fabric machinery and weaving preparation machinery. The maximum growth rate of weaving preparation machinery was 297.98%.

From January to August 2010, India, Bangladesh, Japan, Indonesia, and Pakistan ranked among the top five countries and accounted for 46.91% of total exports. It can be seen that except for India's negative year-on-year growth, the growth rate of the other four countries is high. The overall growth rate is the main country and region for the export of textile machinery in China. The total exports to India was 215 million U.S. dollars, a year-on-year decrease of 17.93%, accounting for 19.86% of the total export value. From the following table, it can be seen that except for the significant year-on-year decrease in knitting machinery, the increase of other equipment is far higher than the overall growth rate of exports to India, while the export of chemical fiber machinery to India is a sudden rise, with a year-on-year increase of 299.55%.

In the export of textile machinery products during January-August 2010, private companies ranked first, with an export value of US$404 million, a year-on-year increase of 7.82%, accounting for 37.24% of the total. Sole-proprietor enterprises exported 364 million U.S. dollars, an increase of 79.67% year-on-year, accounting for 33.59% of the total export value, ranking second. Others are state-owned enterprises, joint ventures, collective enterprises, and cooperative enterprises.

Exports were dominated by general trade, with an export value of 856 million U.S. dollars, an increase of 36.35% year-on-year, accounting for 78.98% of the total export volume; and import processing and processing trade exports of 170 million U.S. dollars, an increase of 48.02% year-on-year, accounting for 15.67% of the total exports; The method exported US$57,995,800, an increase of 329.12% year-on-year, accounting for 5.35% of the total exports.

In summary, with the continuous recovery of the global economy and the consolidation of the domestic economy’s upward trend, as well as the further manifestation of the stabilization of external demand policies, industrial production has accelerated and the investment in fixed assets has continued to grow. Imports and exports have recovered better than expected. It has basically recovered to pre-crisis levels and the trade balance has further narrowed. It is expected that the global economy will continue to improve in the latter part of 2010, and the effects of domestic stimulus policies will continue to show. The stage of corporate supplementary inventories will continue and the economic operation will stabilize, and economic growth may show a trend of highs and lows.