From January to July 2021, the overall development quality and efficiency of China's printing and dyeing industry continued to recover, and the enterprise operation continued to improve. However, under the influence of uncertain and unstable factors such as domestic and foreign epidemic situations and domestic flood conditions, the growth rate of major economic indicators of the industry slowed down, and the steady recovery of the industry is still under pressure.
The production continued to grow, and the output growth rate dropped somewhat
According to the data of the National Bureau of statistics, from January to July 2021, the output of printing and dyeing cloth of Enterprises above Designated Size in the printing and dyeing industry was 34.078 billion meters, with a year-on-year increase of 25.63%, an average increase of 4.53% in two years, and an average growth rate of 5.2 percentage points lower than that from January to June. In July, affected by multiple factors such as the continuous evolution of epidemic situation abroad, sporadic epidemic situation in some domestic areas and superimposed flood situation, the production of printing and dyeing enterprises was under pressure, and the two-year average growth rate of printing and dyeing cloth production was lower than that of last month.
The quality and efficiency of development continue to be repaired, and the foundation for a good development still needs to be consolidated
According to the data of the National Bureau of statistics, from January to July 2021, the proportion of three fees for Enterprises above Designated Size in the printing and dyeing industry was 6.87%, a year-on-year decrease of 0.33 percentage points, including 6.68% for cotton printing and dyeing enterprises and 8.32% for chemical fiber printing and dyeing enterprises; The turnover rate of finished products was 18.23 times / year, with a year-on-year increase of 20.41%; The turnover rate of accounts receivable was 8.45 times / year, with a year-on-year increase of 14.69%; The total asset turnover rate was 1.00 times / year, with a year-on-year increase of 16.36%. The main operation quality indicators have achieved significant restorative growth on the basis of the low base in the same period of last year, but some indicators are still far behind before the epidemic. Compared with the same period in 2019, the proportion of three fees of Enterprises above Designated Size in the printing and dyeing industry increased by 0.19 percentage points from January to July 2021, the turnover rate of finished products and total assets decreased by 12.98% and 9.12% respectively, and the turnover rate of accounts receivable increased by 2.10%, reflecting that the current production and marketing connection of printing and dyeing enterprises is still not efficient and smooth.
According to the data of the National Bureau of statistics, from January to July 2021, 1560 printing and dyeing enterprises above Designated Size achieved an operating revenue of 157.834 billion yuan, a year-on-year increase of 25.36% and an average growth rate of - 0.80% in two years; The total profit was 6.214 billion yuan, with a year-on-year increase of 45.36% and a two-year average growth rate of - 6.41%; The cost profit margin was 4.18%, with a year-on-year increase of 0.62 percentage points; The sales profit margin was 3.94%, with a year-on-year increase of 0.54 percentage points; The number of loss making enterprises was 430, with a loss of 27.56%, a year-on-year decrease of 13.26 percentage points; The total loss of loss making enterprises was 1.279 billion yuan, a year-on-year decrease of 35.68%; The export delivery value was 20.99 billion yuan, a year-on-year increase of 17.86%, and the average growth rate in two years was - 5.62%. Compared with the same period in 2019, from January to July in 2021, the cost profit margin of printing and dyeing enterprises above designated size decreased by 0.51%, the sales profit margin decreased by 0.48%, the loss area expanded by 4.51%, and the total loss increased by 8.08%. It can be seen that although the main benefit indicators of the industry still maintain a restorative growth trend, they have not yet returned to the pre epidemic level, and the foundation for the steady recovery of the industry is not solid.
At present, in terms of production, the output of printed and dyed cloth has recovered and exceeded the level before the epidemic, but there is still a gap between the enterprise's revenue and profit compared with that before the epidemic, especially the profit level. The main reason is that the price of bulk commodities remains high, the price of raw materials in printing and dyeing production rises sharply, superimposed with high international freight costs, the enterprise cost remains high, and the market competition is fierce, The cost is difficult to transmit to the downstream, resulting in the squeeze on the profit space of printing and dyeing enterprises.
Exports showed a trend of simultaneous increase in volume and price, but they have not fully recovered to the same period before the epidemic
According to the HS8 digit code statistics of China Customs, the export volume of eight categories of printing and dyeing products from January to July 2021 was 15.837 billion meters, a year-on-year increase of 33.54%, down 7.12 percentage points from January to June; The export value was US $15.589 billion, a year-on-year increase of 35.22%, down 6.11 percentage points from January to June; The average export unit price was US $0.98/m, a year-on-year increase of 1.25%, an increase of 0.78 percentage points over January June. Compared with the same period in 2019, the export volume increased by 2.43%, the export amount decreased by 1.04%, and the average export unit price decreased by 3.39%. Exports continued the restorative growth trend in the first half of the year, but the export growth rate decreased compared with the first half of the year. At present, although the export of the industry has maintained a good growth, export-oriented enterprises are still facing the pressure of high international logistics costs and RMB exchange rate fluctuations.
On the whole, from January to July 2021, the printing and dyeing industry continued the restorative growth trend in the first half of the year, and the main economic indicators continued to improve, but the growth rate was lower than that from January to June. The quality and efficiency of the industry are stable and good, the efficiency has been greatly improved, and the export has increased significantly. The sustained recovery of the global economy is the main underlying logic for the steady recovery of China's textile industry. The attributes of basic consumer goods of textiles and clothing determine that the sustained recovery of the industry needs the continuous empowerment of terminal consumption. It is expected that the global economic growth will further improve in the second half of the year, and the demand in the international market is expected to continue to pick up; China's macroeconomic recovery will continue to be consolidated, and domestic demand is expected to be further stable and good. In the second half of the year, the printing and dyeing industry is expected to continue to maintain a good trend of repair and development. In view of the high base factor in the second half of last year and the gradual normalization of restorative growth rate, it is expected that the growth rate of major economic indicators will drop significantly in the second half of last year.
