Who Says Cotton Spinning Market Is Not Good? Jiangsu Yueda Only Sold Over 1 Billion 100 Million Of Cotton Yarn And Bed Products Last Year.

Jiangsu Yueda investment Limited by Share Ltd (hereinafter referred to as "Yue Da Investment") has released its 2019 annual report. During the reporting period, the company achieved operating income of 2 billion 580 million yuan, an increase of 1.2% over the same period, and a net profit of 107 million yuan attributable to shareholders of listed companies, an increase of 32.5% compared with the same period last year, with a basic yield of 0.13 yuan per share.

During the reporting period, the operating cost of the company was 2 billion 140 million, down 2.8% from the same period last year, and the operating income increased by 1.2% compared with the same period last year, pushing the gross profit margin up 3.4%. The period cost rate is 22.3%, which has not changed much compared with last year. Operating cash flow decreased from 200 million to -6719.6 million, down 134.1% from the same period last year. The company's R & D investment was 51 million 523 thousand, down 13.3% compared to the same period. The capitalization ratio of R & D investment is 4.2%.

From the perspective of business structure, "cotton yarn" is the main source of business revenue. Specifically, "cotton yarn" business income was 700 million, revenue accounted for 28.8%, gross margin was 12.9%, during the reporting period, the company's cotton yarn, grey cloth and bedding business income totaled 1 billion 120 million yuan, compared with the same period last year's 994 million yuan further growth.

According to public information, Yueda investment is a comprehensive investment enterprise. It is also one of the 520 key large state-owned enterprises in China, which has grown up in the tide of China's reform and opening up. Its business covers automobiles, highways, textiles, biodiesel, new materials, tractors, thermal power and coal. Among them, Yueda Textile Group is mainly engaged in two major businesses of spinning and home textiles. The existing production capacity of yarn is 26000 tons / year, home textile grey cloth 20 million meters / year, home textile products 10 million sets / year.

Yueda textile is a large textile enterprise under the command of Yueda group. It was founded in 2003. It is located in the coastal cotton producing area in Northern Jiangsu - Yancheng City. The first phase project covers an area of 3000 mu, with an investment of 4 billion yuan, and 200 thousand spindles of all imported equipment spinning factories. The company has successively worked with Itou Tada, France, Carrefour, Germany, Ttiumph, Ai Wende, Yueda KIA, and Taiwan south. The world famous brands, such as weft apparel, Australian four-dimensional clothing, have introduced world-class equipment and advanced management mode. Strive to build high-grade knitting yarn, woven yarn, fabric, clothing, household and industrial textiles production base.

The first textile network reporter learned here that in 2019, Yueda textile enhanced innovation and research and development, and developed 236 new yarn products, 209 new fabrics and new products, and independently researched and developed the "key technology and application of jet vortex spinning pure cotton high count yarn". It was awarded the two prize of Science and technology progress of China Textile Industry Federation. In the aspect of product structure optimization and upgrading, the company focuses on the "five categories" special yarn and finished fabric location, and aims to create high-end yarn products. In addition, the company also vigorously promotes Internet marketing to achieve integrated marketing on line and offline.

Yueda textile said that in 2019, the growth rate of China's textile and clothing domestic market has slowed down, the profit pressure of textile industry has increased significantly, and most of the links in the industrial chain have continued to bear pressure. The investment scale of the textile industry has been reduced in the whole year, and the investment in textile and chemical fiber industry has decreased by 8.9% and 14.1% respectively.

The external situation faced by China's textile industry in 2020 will be more and more complex and severe, and the development prospect is uncertain. From the perspective of risk factors, the complex situation of global economic turbulence sources and risk points increases, and domestic structural and cyclical problems are intertwined. The pressure of normalization, such as rising costs and intensifying competition, still exists, which puts great pressure on the smooth operation of the textile industry. The sudden outbreak of new crown pneumonia in the early part not only caused direct economic losses to textile enterprises, but also caused enterprises to face the loss of foreign trade orders and international competition for a long time after the end of the epidemic situation, which further increased the uncertainty of development.

Yueda textile project: in 2020, it mainly sold 29 thousand tons of yarn, 18 million 500 thousand meters of cloth and 7 million 300 thousand pieces of products. The company will also accelerate the upgrading of automation and intelligence to cope with the shortage of labor and the high quality requirements of customers, and continue to increase the proportion of high-end products. The sales volume of special products increased by 3 percentage points on the basis of 2019. Expand the proportion of finished fabrics, promote transformation to "finished fabric suppliers", seek cooperation in printing and dyeing projects, and make up the short board of industrial chain.