A brief analysis of the economic operation of the printing and dyeing industry from January to July 2021

From January to July 2021, my country’s printing and dyeing industry will continue to recover as a whole in terms of quality and efficiency, and business operations will continue to improve. However, under the influence of domestic and foreign epidemics, domestic flood conditions and other uncertain and unstable factors, the industry’s main economic indicators have increased at a certain rate. Slowing down, the industry is still under pressure to achieve a steady recovery.

Production continues to grow, and output growth has slowed down

According to the National Bureau of Statistics, from January to July 2021, the output of printing and dyeing fabrics of enterprises above designated size in the printing and dyeing industry was 34.078 billion meters, an increase of 25.63% year-on-year, and an average growth rate of 4.53% in two years. The two-year average growth rate dropped 5.2 units from January to June. percentage point. In July, affected by multiple factors such as the continuous evolution of foreign epidemics and the occurrence of sporadic epidemics and floods in some areas of the country, the production of printing and dyeing enterprises was under pressure, and the two-year average growth rate of printing and dyeing cloth output fell from the previous month.

The quality and efficiency of development continue to be repaired, and the foundation for improvement still needs to be consolidated

According to data from the National Bureau of Statistics, from January to July, the proportion of three expenses for enterprises above designated size in the printing and dyeing industry was 6.87%, a year-on-year decrease of 0.33 percentage points. Among them, cotton printing and dyeing enterprises accounted for 6.68%, chemical fiber printing and dyeing enterprises 8.32%, and finished product turnover rate 18.23 times / Year, a year-on-year increase of 20.41%; accounts receivable turnover rate of 8.45 times/year, an increase of 14.69% year-on-year; total assets turnover rate of 1.00 times/year, an increase of 16.36% year-on-year. The main operational quality indicators have achieved obvious recovery growth on the basis of the low base in the same period last year, but some indicators still have a large gap compared with before the epidemic. Compared with the same period in 2019, from January to July 2021, the three-cost ratio of enterprises above designated size in the printing and dyeing industry increased by 0.19 percentage points, and the turnover rate of finished products and total asset turnover decreased by 12.98% and 9.12%, respectively. The account receivable turnover rate An increase of 2.10% reflects that the current printing and dyeing enterprises' production and sales connection is still not efficient and smooth.

According to the National Bureau of Statistics, from January to July, 1,560 printing and dyeing enterprises above designated size across the country achieved operating income of 157.834 billion yuan, a year-on-year increase of 25.36%, and a two-year average growth rate of -0.80%; realized a total profit of 6.214 billion yuan, a year-on-year increase of 45.36% , The two-year average growth rate was -6.41%; the profit margin of costs and expenses was 4.18%, an increase of 0.62 percentage points year-on-year; the sales profit rate was 3.94%, an increase of 0.54 percentage points year-on-year; Narrow by 13.26 percentage points; total losses of loss-making enterprises were 1.279 billion yuan, a year-on-year decrease of 35.68%; the completed export delivery value was 20.99 billion yuan, a year-on-year increase of 17.86%, and the two-year average growth rate was -5.62%. Compared with the same period in 2019, from January to July 2021, the profit margin of printing and dyeing enterprises above designated size decreased by 0.51%, the profit margin of sales decreased by 0.48%, the loss area increased by 4.51%, and the total loss increased by 8.08%. It can be seen that although the main performance indicators of the industry still maintain a recovery growth trend, they have not yet returned to the level before the epidemic, and the foundation for a steady recovery of the industry is not yet solid.

At present, from the production point of view, the output of printed and dyed fabrics has recovered and exceeded the level before the epidemic. However, there is still a gap in corporate revenue and profits from before the epidemic, especially the gap in profit levels. The price of raw materials in the link has risen sharply, superimposed on high international freight costs, and corporate costs remain high. At the same time, fierce market competition makes it difficult for costs to pass downstream, resulting in squeezing of the profitability of printing and dyeing companies.

Exports show an upward trend in both volume and price, but they have not yet fully recovered to the level of the same period before the epidemic

According to China Customs HS 8-digit statistics, from January to July 2021, the export volume of eight major categories of printing and dyeing products was 15.837 billion meters, a year-on-year increase of 33.54%, a decrease of 7.12 percentage points from January to June; the export value was 15.589 billion US dollars, a year-on-year increase of 35.22 %, down by 6.11 percentage points from January to June; the average export unit price was US$0.98/meter, an increase of 1.25% year-on-year, and an increase of 0.78 percentage points from January to June. Compared with the same period in 2019, the export volume increased by 2.43%, the export value fell by 1.04%, and the average export unit price fell by 3.39%. Exports continued to continue the recovery growth trend in the first half of the year, but the growth rate of exports slowed down compared with the first half of the year. At present, although industry exports have maintained good growth, export-oriented enterprises still face pressures from high international logistics costs and fluctuations in the RMB exchange rate.