Analysis On Economic Operation Of Printing And Dyeing Industry From January To April In 2021

In April 2021, the economic operation of China's printing and dyeing industry continued to maintain a stable recovery trend, production continued to maintain a restorative growth, enterprise profitability improved significantly, and export trade accelerated to recover. However, in general, there are still many uncertain and unstable factors in the international epidemic situation. There is still a big gap in some economic operation indicators of China's printing and dyeing industry compared with that before the epidemic, and the industry still faces great pressure to achieve comprehensive recovery.

　　 Production maintained a rapid growth, and the scale of production exceeded the level before the epidemic

According to the data of the National Bureau of statistics, from January to April 2021, the output of printing and dyeing enterprises above designated scale will reach 17.318 billion meters, with a significant increase of 27.95% year-on-year and 18.16% compared with the same period in 2019. Since 2021, with the overall situation of the epidemic situation at home and abroad gradually improved, the demand of the terminal market continued to warm up. From January to April, the retail sales of clothing, footwear, knitwear and textiles above the quota increased by 48.1% year-on-year, and the export volume of textiles and clothing increased by 32.8%. The continuous improvement of market demand provided important support for the rapid growth of printing and dyeing industry.

　　 The operation quality was gradually improved and the recovery process was relatively slow

According to the data of the National Bureau of statistics, from January to April 2021, the proportion of three fees for printing and dyeing enterprises above designated size was 7.34%, which was 0.11 percentage points lower than that of the previous year. Among them, cotton printing and dyeing enterprises accounted for 7.02% and chemical fiber printing and dyeing enterprises was 9.59%; The turnover rate of finished products was 6.05 times / year, with a year-on-year increase of 19.84%; The turnover rate of accounts receivable was 2.75 times / year, with a year-on-year increase of 10.35%; The turnover rate of total assets was 0.31 times / year, up 14.75% year on year. Compared with the same period in 2019, from January to April in 2021, the proportion of enterprise's three fees increased by 0.23 percentage points, the turnover rate of finished products decreased by 16.00%, the turnover rate of accounts receivable decreased by 15.76%, and the turnover rate of total assets decreased by 10.29%. Since 2021, the proportion of "three fees" in printing and dyeing enterprises has gradually decreased. The turnover rate of finished products, the turnover rate of accounts receivable and the turnover rate of total assets have achieved rapid growth on the basis of the low base of last year, but they are still lower than the level of the same period before the epidemic situation. Compared with the recovery process of production, the enterprise's capital turnover pressure is still large.

Table 1   Main operation indexes of printing and dyeing enterprises above designated scale from January to April 2021

　　 The economic benefits have been obviously restored, and the good situation still needs to be consolidated

From January to April of 2021, the operating revenue of printing and dyeing enterprises above designated size was 83.715 billion yuan, with a year-on-year growth of 21.53%; The operating cost was 73.341 billion yuan, up 20.54% year on year, accounting for 87.61% of the business income; The total profit was 3.007 billion yuan, up 43.61% year on year; The profit margin of cost and expense was 3.78%, increased by 0.61 percentage points year on year; The profit margin of sales was 3.59%, up 0.55% year on year; The export delivery value was 11.602 billion yuan, with a year-on-year increase of 16.84%. Compared with the same period in 2019, from January to April of 2021, the operating revenue decreased by 3.36%, the total profit decreased by 6.81%, the profit margin of cost and expense decreased by 0.14%, the profit margin of sales decreased by 0.13%, and the value of export delivery decreased by 14.51%.

498 of the 1547 printing and dyeing enterprises above the designated scale suffered losses, accounting for 32.19% of the total loss, which was 11.20% lower than that of the same period in 2019, and increased by 6.33% compared with the same period in 2019; The total loss of loss making enterprises was 957 million yuan, a year-on-year decrease of 23.55%, and an increase of 20.33% compared with the same period in 2019.

From the perspective of the whole textile industry, from January to April, the business income of textile enterprises above designated size increased by 22.6% year-on-year, with an average growth of - 0.8% in two years; The total profit increased by 71.8% year on year, with an average increase of 8.0% in two years; The profit margin of operating revenue was 4.5%, with a year-on-year increase of 1.3 percentage points. From January to April, the main economic benefit indicators of the printing and dyeing industry were significantly improved compared with the first quarter, but slightly lagged behind the overall profit recovery process of the whole textile industry, and the better situation of the printing and dyeing industry still needs to be further consolidated.

Table 2   Main economic indicators of printing and dyeing enterprises above Designated Size from January to April 2021

　　 Export continued to maintain a rapid recovery trend

According to the statistics of HS8 code of China Customs, from January to April 2021, the export volume of eight categories of printing and dyeing products was 8.766 billion meters, with a year-on-year increase of 35.44%; The export value was 8.601 billion US dollars, up 33.87% year on year; The average unit price of export was 0.98 US dollars / meter, a year-on-year decrease of 1.16%. Compared with the same period in 2019, the growth rates of export volume, export value and average export unit price were 7.65%, 2.16% and - 5.09% respectively. As the epidemic situation at home and abroad tends to ease, the convergence of industrial chain supply chain is more smooth, the international business environment is gradually improved, and the effective demand continues to increase. At the same time, based on the new development pattern of "double cycle", printing and dyeing enterprises actively expand overseas markets, and the export scale increases slightly compared with that before the epidemic.

Table 3   Export of eight categories of printing and dyeing products from January to April 2021

In the "post epidemic era", the global economy is recovering in a resonant way, and China's economy is transforming from structural recovery to comprehensive recovery, which provides a strong guarantee for China's printing and dyeing industry to get out of the impact of the epidemic and realize sustainable recovery. It is expected that in the second quarter, the quality and efficiency of printing and dyeing industry will be further restored, and the profit situation of enterprises is expected to return to the level before the epidemic in the first half of the year. In the future, the industry needs to further focus on common development issues, accelerate transformation and upgrading, enhance market competitiveness with technological progress and product innovation, and strive to improve development quality and efficiency.

(source: China printing and dyeing industry association)