YOUNGOR: The Most Severe Layoffs In 2011

According to a comprehensive report, the annual report of Listed Companies in Shanghai and Shenzhen two cities in 2011 ended at the end of April.

The China securities network shows that 73 listed textile and garment enterprises achieved a total operating income of 166 billion 753 million yuan last year, an increase of 15.63% over the same period last year.

Profitability fell to a single digit. Last year, the net profit of shareholders belonging to the parent company reached 12 billion 470 million yuan last year, an increase of only 2.16% compared with the same period last year, and the growth rate dropped sharply. In 2010, the figure increased by 28.95%.

Performance growth fell sharply, Huafang textile (600273) surplus to lose 295 million yuan first

According to Wind statistics, the profitability of the 73 listed textile and garment enterprises has declined significantly, of which 26 companies net profit fell.

ST de cotton (002072), ST Xinlong (000955), ST Zhong Guan, ST Miya (000971), Huafang textile and phoenix bamboo textile (600493) appeared from profit to loss, resulting in net profit falling the first six place, down 1612.88%, 1070.64%, 523.15%, 506.34%, 310.55%, 117.93% respectively.

Net loss of net profit attributable to parent company is 98 million 949 thousand and 300 yuan, 28 million 713 thousand and 300 yuan, 17 million 361 thousand and 600 yuan, 74 million 36 thousand and 200 yuan, 294 million 866 thousand and 700 yuan and 16 million 777 thousand and 800 yuan.

Huafang textile lost 295 million yuan, becoming the most serious loss company in the textile and garment industry.

Statistics show that 73 textile and garment enterprises last year inventories of 66 billion 298 million yuan, compared to 54 billion 942 million yuan in 2010, an increase of 20.67%.

Inventories rose to 43.32% of current assets, up 1.39 percentage points from 2010.

The increase in inventories has also led to a corresponding increase in the proportion of some companies' inventory in current assets.

China Securities Network Channel combing shows, ST Miya, Hong Kong shares (600400),

(600177), cashmere industry, URI's share (002083), China Textile share (600448), Huasheng share (600156), Huafang textile, San Mao Pai Shen (000779), and Lu Tai A (000726) 10 companies account for more than 50% of liquid assets.

ST Miya 84.52% topped the list, followed by Hong Kong shares, YOUNGOR 81.28% and 75.09% respectively, compared with 2010 increased by nearly 10 percentage points.

The number of employees is reduced, and YOUNGOR has laid off 17 thousand and 200 people.

In the 73 textile and garment enterprises, after excluding the two companies listed last year (002634) and 100 round pants industry (002640), the number of employees in 71 companies decreased by 22179 to 347068 last year, a decrease of 6% over the same period last year.

Combing shows that last year, a total of 36 companies were downsizing, that is, half of the companies listed on textile and clothing companies were implementing the staff reduction plan.

Among them, the number of employees decreased by more than 1000, respectively, YOUNGOR, Huafu color spinning (002042), ST de cotton, Jihua Group (601718), Xinye textile (002087), Xun Xing shares (002098), Changshan shares (000158), respectively, reducing 17199, 3314, 3131, 1837, 1478, 1317, and 1478.

YOUNGOR's loss of 17199 people has undoubtedly become the most tragic company in the industry, and its number of layoffs exceeds the total of the remaining 35 textile and garment enterprises, accounting for 77.55% of the total number of 71 companies in the last year.

Data show that YOUNGOR's profitability continued to decline.

In 2009, 2010 and 2011, the growth rate of YOUNGOR's net profit was 106.17%, -18.13% and 34.03% respectively.

Net profit in the first quarter of 2012 was 256 million yuan, down 34.26%.

Compared to YOUNGOR's layoffs, on Saturday (002291), fuanna (002327), keno Technology (600398), Luo Lai home textile (002293), and RANSE stock increased the number of employees last year, the top five, 1579, 1121, 1119, 784 and 710 respectively.

But it is worth noting that the stock of the group rose 1.5 times over the same period last year.