Policy Restructuring Textile Industry Expect Textile Stocks To Shine Brilliantly
On the 21 day, the A share market was lower by the influence of the US stock, but the textile stocks were brilliant. Deep textile, Tianshan textile, Xinmin technology and other low price textile stocks became an important part of the trading board. The textile sector is expected to become a major investment thread in the A share market in the near future.
政策重塑紡織業預期
For the textile industry, the current background is not optimistic. In the 1-10 months of 2008, the export of textiles and clothing was US $153 billion 680 million, an increase of 5.86% over the same period last year. The 5.86% increase was 5.19 percentage points lower than the first half of this year, down 13.84 percentage points from the same period last year, the lowest in nearly 6 years.
The textile industry is not only a large exporter but also a labor-intensive enterprise, which is related to the pfer of a large number of rural surplus labor force. According to media reports, Premier Wen Jiabao chaired a State Council executive meeting on 19 April, and the study identified 6 policy measures to promote the healthy development of the textile industry.
Of these, 2 are directed against the textile industry. The first is to further reduce the tax burden and alleviate the cost pressure. We should continue to increase the export tax rebate rate for textiles, garments and some light industrial products. Two, we should intensify the technological pformation of light textile industry, promote industrial upgrading, arrange central budgetary funds, and support special textile and other key industries to carry out special technological pformation. Such a strong textile industry policy is expected to help the textile industry out of the predicament, so that the various funds to reshape the expectations of the textile industry.
開源節流關注優質股
This expectation has also been corroborated by such two data: first, the impact of the increase in export tax rebate rate on earnings growth. In October 21st, the Ministry of Finance announced that from November 1st, the export rebate rate of textiles and clothing increased by 1 percentage points to 14%. This is the second increase in the year. The export tax rebate rate for textile and garment has increased by 3 percentage points this year. Industry analysts believe that the two increase in the export tax rebate rate will increase the profits of Enterprises above the industry scale in 2009 by 19 billion 336 million yuan.
The two is the impact of VAT reform. The value added tax reform has been implemented since January 1, 2009, assuming that the fixed assets investment in the textile industry can maintain a 10% growth in 2008, while the investment in 2009 is basically the same as that in 2007, that is, the investment in fixed assets of the textile industry in 2009 is 280 billion yuan, and 45% of the fixed assets investment belongs to the category of fixed assets that can be deducted, so the total preferential tax revenue enjoyed by the textile industry in 2009 is about 16 billion 100 million yuan.
From this we can see that after the value-added tax reform, net profit and operating cash flow are showing growth trend, and the business environment of textile enterprises will also be significantly improved, which will also encourage enterprises to upgrade their technology and upgrade their industries.
It is worth noting that only those stocks with brand advantage can fully enjoy the investment opportunities brought about by the changes in the industry. Therefore, there are two types of stocks that can be tracked: first, the stocks of domestic consumer brands, the seven wolves, the good news birds and so on; two, the high quality export enterprises with relatively large profits and relatively stable profitability, and the varieties of A and so on.
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