A brief analysis of the printing and dyeing industry in 2021Ⅱ

The running quality continues to be repaired, and the repair process of some indicators is slow

According to the data of the National Bureau of Statistics, from January to November, the three-cost ratio of enterprises above designated size in the printing and dyeing industry was 6.68%, a year-on-year decrease of 0.14 percentage points. Among them, cotton printing and dyeing enterprises accounted for 6.53%, and chemical fiber printing and dyeing enterprises accounted for 7.80%; the turnover rate of finished products was 17.55 times. / year, a year-on-year increase of 3.67%; accounts receivable turnover rate was 8.33 times/year, a year-on-year increase of 11.74%; total asset turnover rate was 1.01 times/year, a year-on-year increase of 8.43%. Compared with the same period in 2019, the three-fee ratio of enterprises above designated size in the printing and dyeing industry increased by 0.04 percentage points, the turnover rate of finished products and the turnover rate of total assets decreased by 16.99% and 7.38% respectively, and the turnover rate of accounts receivable increased by 4.55%.

From January to November, the year-on-year growth rate of accounts receivable turnover rate of printing and dyeing enterprises was 2.31 percentage points faster than that of January to October, indicating that the capital turnover efficiency of enterprises continued to improve, but the two indicators of finished product turnover rate and total asset turnover rate were repaired. Slow, the year-on-year growth rate slowed down by 3.46 and 2.18 percentage points respectively compared with January-October, mainly because under the influence of the epidemic, the supply chain connection of the textile industry chain was still not smooth enough, resulting in prolonged product delivery cycles. According to data from the National Bureau of Statistics, from January to November, the inventory of enterprises above designated size in the printing and dyeing industry increased by 12.67% year-on-year, an increase of 12.72 percentage points compared with the same period in 2020. Poor production and sales have led to lower operating efficiency of enterprises.

Steady improvement in operating efficiency, Profitability remains high

According to the data of the National Bureau of Statistics, from January to November, the 1,583 printing and dyeing enterprises above designated size in the country achieved an operating income of 263.156 billion yuan, a year-on-year increase of 17.13%, and an average increase of 0.93% in the two years; the total profit was 12.602 billion yuan, a year-on-year increase of 21.83%, two years. The average annual decrease was 3.04%; the cost and expense profit margin was 5.14%, a year-on-year increase of 0.22 percentage points; the sales profit margin was 4.79%, a year-on-year increase of 0.19 percentage points; the number of loss-making enterprises was 387, and the loss ratio was 24.45%, a year-on-year decrease of 7.05 percentage points; The total loss of loss-making enterprises was 1.653 billion yuan, a year-on-year decrease of 13.67%; the completed export delivery value was 34.915 billion yuan, an increase of 11.41% year-on-year, and an average decrease of 4.42% in the two years. Compared with the same period in 2019, the cost and expense profit margin of printing and dyeing enterprises above designated size decreased by 0.54 percentage points, the sales profit margin decreased by 0.49 percentage points, the loss area increased by 3.80 percentage points, and the total loss increased by 7.60%, see Table 3.

From January to November, the economic indicators of printing and dyeing enterprises above designated size showed an overall improvement. However, due to the realistic pressures such as fluctuations in raw material prices and high freight prices, the profitability of the industry was still at a low level, and the total profit was still at a low level compared with the same period in 2019. There is a clear gap, and the loss of loss-making enterprises continues to show an increasing trend, and the foundation for the steady recovery of the industry needs to be further consolidated.

At present, the international environment is becoming more complex and severe, the world economic recovery is slowing down, inflationary pressures are rising and the epidemic is spreading, and the printing and dyeing industry is facing certain pressures to maintain a stable economy. With the determination of the general tone of the country's economic work of "stabilizing the word and seeking progress while maintaining stability", the state's macro-control policies will be solidly advanced, the efforts to ensure stable supply and prices and help enterprises will be further strengthened, and the prices of major raw materials are expected to gradually return to normal. , the connection between the industrial chain and the supply chain will be further strengthened, and the printing and dyeing industry is expected to resume normal operation as soon as possible.