After each practice correspondent Renshi Lei ,
louboutin CITIC Securities analyst Li Xin is that with the upcoming new cotton and cotton libraries worldwide sales rose, cotton prices have come down to judge possible. Long term, falling cotton prices help reduce costs,
christian louboutin, increase downstream demand, but in the cotton down channels, inventory management more difficult, there is pressure on product sales. The third quarter is expected to take a single case is still not optimistic, and the price cut may have.
but related report of China's information network is not so optimistic. The report shows that business confidence in the market is gradually passing, most of that August will be very tough. The same downstream textile market is not optimistic about the frequent price fluctuations of yarn weaving factory procurement positive, the moment comes the traditional off-season textile, coupled with hot weather, most mills stop production. Some mills stopped purchasing cotton and began spinning fiber or bamboo fiber and other new varieties. Although market participants hope the new year national purchasing and storage, but there are still more than a month old from purchasing and storage, the market can only wait in torment.
from the State Ministry of the report on the textile industry to run the first half of 2011, the report also shows that volatility in cotton textile industry to cause greater effects: First, see mood strong, affecting confidence in the industry, cotton prices continued to fall under the single-lead companies not to increase interest inventory, poor sales of the whole industry chain; Second, inventories, capacity utilization fell, a survey showed that general increase in business inventories cotton doubled, while the cotton industry capacity utilization of 80% (more than 95% last year), production and marketing rate of only 87%; third is drastically reduced profit margins, now 32 cotton price 29,500 yuan / ton , even under the current purchase price of cotton, tons of yarn loss will reach the thousand or so.
fact, lead to the reasons Huafang Pre-losing textile related with cotton. The company announced that first half of 2011, especially in the second quarter the price of cotton fell by the raw material market impact, the magnitude of price decline, the company pre-inventory materials based on cotton and cotton yarn of high cost, making the product gross margin decline. At the same time the state has tightened monetary policy to finance corporate finance costs. Huafang Textile said in a statement, Express its 2011 interim results show that 1 in June 2011,
ralph lauren, operating income of 697.6227 million yuan, operating profit of 108.146 million yuan, total profit of 113.7428 million yuan, net profit of 96.6814 million yuan, respectively, over the same period last year 15.47%, 46.82% , 45.80% and 45.80%.
Moreover, increasing pressure on production costs, the trend to shift orders from abroad is becoming increasingly apparent. Labor costs,
polo ralph lauren, RMB appreciation, raw material price fluctuations, interest rate increases and other increased operating costs of enterprises, affecting the textile industry's international competitiveness. 1 May U.S. imported cotton products from the world's number down 6.1%, which decreased the number of products from China imported cotton 13.4%, from Vietnam, Bangladesh, Indonesia imported cotton products were up 9.4%, 9.1% and 10.1%. State Ministry of the investigation, said,
franklin & marshall,
affected more than just stocks performance
reason, in 2011 due to the textile raw material price volatility impact of downstream textile industry demand for polyurethane products is suppressed, resulting in spandex sales fell; spandex sales Since May 2011 the price began to have a more significant reduction in year on year; purchase price of raw materials, labor costs rose by a big margin and other factors lead to results of operations during the reporting period are subject to greater influence.
focus of the company
8 brokerage force recommended Huafu color spinning
fluctuations in cotton prices in the industry also had a pressure when the accumulated inventory, gross profit margin of textile enterprises is further compressed, multi-stocks such as Huafang Textile (600 273, closing price of 8.67 yuan), Huafeng Spandex (002064, closing price of 8.84 yuan) interim results have declined. Huafeng Spandex net profit decline is to reach 45.80%.
Merchants Securities analyst Wang Wei, said first-half profit steady Huafu color spinning, but the second half of the cotton price decline will increase the operating pressure. Gradually release the second half with new capacity, capacity pressures will ease, but the product price may be adjusted due to cotton callback, in the second half operating results and trends are closely related to cotton. Long-term perspective, cotton prices fell leading to product sales benefit the restoration of the callback, as the continued expansion and future capacity to optimize the product structure, there is room to improve performance.
down, reduced orders and other circumstances, but on July 14 to August 2, during the day, still at least eight brokerage research reports issued agency force recommended Huafu color spinning. This eight brokerage research reports, without exception, to give them more than a prudent recommendation rating livelihood securities of which two rounds of research reports also provide highly recommended rating. Guotai Junan and Everbright Securities are given buy rating. Xiangcai securities and investment securities given in overweight rating.
cotton prices have surged last year,
moncler pas cher, but this year reached a record in March high point, but began to fall. According to data from China Cotton Information Network, August 4,
doudoune moncler, China Cotton Index (CCIndex328 level) show cotton is 19,716 yuan / ton, down 84 yuan, has not only been announced for the new year fell below 19,800 yuan / ton of purchasing and storage price, but also with up to March this year the price of 31,241 yuan per ton, a drop to 36.9%.
In fact, more than in the downstream industry, cotton stocks are inevitably subject to fluctuations, even companies with a loss for both sides
price pressure transmission to the whole industry chain
Panshao Chang told reporters, many textile enterprises are still in to the inventory phase, mainly due to sharp rise in cotton prices last year, so that the blind accumulation of cotton prices, cotton, blind expansion of production capacity; This year, cotton prices fell sharply, far beyond the general expectations of manufacturers, most of the manufacturers of cotton makes the higher price back higher costs of production, resulting in product prices, which in turn directly affect their sales. Forced in the upstream and downstream two cases, a substantial reduction in corporate profits in general. Coupled with rising labor costs, some companies have shut down some production lines in order to hold down costs.
China Cotton Information Network investigators in a number of companies within the industry research finds that, at present very few orders for textile and downstream, and a short single-based, under the weak form Although the mill orders more cautious, but more cautious is the order of the clothing business, today's inventory may mean a loss tomorrow. Uncertainty of the market outlook is expected to make the whole textile chain enterprises in perpetuity, at every step.
With the upcoming new cotton and cotton prices traditional peak season, the cotton price outlook lead? Individual stocks within the industry and whether made in the third quarter dazzling performance? Some analysts believe, has little room for cotton fell. In the depressed market conditions, the performance of the most notable non-Huafu color spinning (002 042, before the closing price of 27.65 yuan) is none other than the company received a total of eight brokerages highly recommended, many believe that its third quarter results continue to enhance the possibility exists
what is the reason making the domestic cotton price since March all the way down it?
last year out of the wave of soaring prices of cotton prices in the last five months, but all the way straight down. August 4, China Cotton Index (CCIndex328 level) show cotton is 19,716 yuan / ton, down 84 yuan this year the state concerned has fallen below 19,800 yuan / ton price of purchasing and storage.
for order issues, Minsheng Securities analyst Tian Hui blue that nearly half of the order in the cotton purchasing and storage, and to stock-price growth will ease. With the October new cotton market, cotton prices are expected to regain confidence in the fourth quarter. In addition, the fast fashion business with the company's downstream (Zara,
franklin marshall, H & M, etc.) start channel to sink the other hand, many foreign brands have entered China to seize the new market, coupled with the company in opening up the domestic second and third tier brands, and early results the continuous production of new capacity, to maintain 20% of future sales growth is period.
Huafu Dyed released July 30,
ralph lauren pas cher, 2011 report shows that during the reporting period, the company achieved net profit of 240 million yuan, an increase of 49.46%. Despite its growth, compared with the listed companies in the industry appears to be more prominent, but the company still said the company faced cotton prices have fallen sharply, to inventory, orders to reduce the severe test.
Dongguan Securities analyst Panshao Chang told the also the upcoming season, these factors have a positive effect of cotton prices, cotton prices continue to sharply lower so the possibility is relatively small.
China Cotton Information Network issued a survey report, the inflation pressure, tightening financial impact of the industry chain parties, the textile industry continues to be weak,
doudoune moncler pas cher, vulnerable performance electronic trading become depressed cotton prices of the three main reasons. Among them, the monetary tightening to keep the overall financing of the cotton industry chain pressures, lint procurement needs further limited, buying and selling in a depressed state is difficult to improve. The appreciation of the renminbi, raw material price volatility and other factors, as well as textile and garment export tax rebate or reduction and other rumors, companies can not take a long single, large single, operational problems worse, most are not optimistic about post-market.
7 15, Huafang textile released Pre-losing the 2011 interim results announcement, it is estimated 1 in June 2011 net profit to a loss, but did not to disclose specific data. While another listed company within the industry a new field of textile (002,087, closing price of 4.76 yuan), the first half of 2011 over the previous year net profit growth of 20% to 40%, compared to first quarter 2011 net profit of 45.47% of the growth has slowed.
Xiangcai Securities analyst Xu Wen with the hi half worry In particular, Xu Wen that the company purchased 1 to 3 months only 20% of high-priced cotton in the first half of the report reflect the company's third quarter gross margin will be a great threat. However, stocks of goods from the semi-annual report revealed the third quarter revenue growth, decline in cotton prices reduced space, growth in the second half performance gave the company a new guarantee, so the company can increase performance of the second half half half worry like to summarize.
from the highest point of the decline has been nearly forty percent
It is understood, August 2, Jiangsu, Shanghai, cotton, cotton companies will once again offer reduced 300 yuan / ton, the recent price adjustment more frequently, but did not see increased shipments . The textile enterprises, although the underlying current price is acceptable, but not too much but Ruoshi next purchase, can only be used with the buy-based,
For more information, please reproduced the Without the
website copyright cooperation and collaboration Tel: turn 688
readers Hotline: 4008890008
by newspaper subscriptions per telephone
Beijing: Shanghai: Shenzhen: Chengdu: Wuxi: Guangzhou 020 -89660257
cotton textile industry in terms of ups and downs of the species is undoubtedly the enormous pressure. Some market participants believe that this pressure has been transmitted to the whole industry chain.
market outlook are differences
Despite the spot price of cotton had fallen, but the downstream market demand is still not busy. China Cotton Information Network survey feedback showed that the current business four sales inventory stored cotton cotton, selling actively and urgently. But the textile procurement positive, slow-moving cotton are quite serious. 相关的主题文章：
China Securities Journal work together located in Yulin Jinjie Industrial Park Thailand is an independent country that lies in the heart of Southeast Asia.The largest city in Thailand is Bangkok, the capital, which is also the country´s center of political, commercial, industrial and cultural activities. Thailand offers a great variety of attractions. These include diving sites, sandy beaches, hundreds of tropical islands, varied night-life, archaeological sites, museums, hill tribes, exceptional flora and bird life, palaces, a huge amount of Buddhist temples and several World Heritage sites.
