In the first quarter of 2022, the development environment of China's printing and dyeing industry is becoming more complex and severe. Internationally, the global epidemic is still spreading, the conflict between Russia and Ukraine is intensifying, the normal operation of global industrial chain supply chain is hindered, and the major developed economies tighten monetary policies, and external risks continue to increase; On the domestic side, epidemic outbreaks occurred frequently in many provinces and cities. Some enterprises implemented measures to stop production and reduce production to cope with the epidemic situation. Factors such as the continuous high fluctuation of raw material prices, Limited Logistics and transportation, and the weakening of terminal consumption intention, the overall economic operation of the industry showed a development trend of "stability and pressure".
Output maintained a small increase
Production growth slowed down
According to the data of the National Bureau of statistics, in the first quarter of 2022, the output of printing and dyeing fabrics of Enterprises above Designated Size in the printing and dyeing industry was 12.175 billion meters, with a year-on-year increase of 1.93%, and the growth rate was 4.01 percentage points lower than that from January to February. In the first quarter, the epidemic situation in China showed a trend of multi-point spread. The epidemic situation occurred in Zhejiang Hangzhou, Shaoxing, Jiangsu Suzhou, Shandong Binzhou, Fujian Jinjiang and other printing and dyeing enterprises concentrated areas, the production and operation of printing and dyeing enterprises were affected to a certain extent. Under the influence of the epidemic, residents' travel and consumption activities were restrained, and people's willingness to consume textile and clothing optional consumer goods weakened. According to the National Bureau of statistics, in the first quarter, the retail sales of clothing, shoes, hats and knitwear products of units above the national quota decreased by 0.9% year-on-year, and the growth rate was 55.1 percentage points lower than that in the same period of last year, The domestic market has declined for the first time since 2021. In the first quarter, the overseas market demand was basically stable, while the domestic demand market was generally weak. Superimposed on the factors of higher base in the same period of last year, the growth rate of printing and dyeing fabric output showed a slowing trend.
The export situation is good
Rapid growth in exports
According to the statistics of China Customs, in the first quarter of 2022, the export volume of eight categories of printing and dyeing products was 7.176 billion meters, with a year-on-year increase of 14.10%, 7.23 percentage points higher than that of January February; The export volume reached 7.681 billion US dollars, up 24.89% year on year, 5.63 percentage points higher than that in January February; The average export unit price was 1.07 USD / m, up 9.46% year-on-year. The growth of export unit price has obvious driving effect on the growth of enterprise profits. The supply chain of textile industry chain in Southeast Asia has been gradually restored, and the demand for Chinese fabrics in some countries has increased. At the same time, with the gradual elimination of epidemic prevention and control measures in major clothing consumption areas such as Europe and the United States, the terminal consumption demand has continued to warm up, and China's indirect export of printing and dyeing products has maintained a growth trend. From January to March, China's total exports of clothing and accessories reached 35.685 billion US dollars, an increase of 7.4% over the same period of last year. Among them, the export of clothing in March was 10.22 billion US dollars, with a year-on-year increase of 10.9%; The total export amount of household textiles was 10.677 billion US dollars, with a year-on-year increase of 10.09%, and the export unit price increased by 7.78%.
Table 1 export of eight categories of printing and dyeing products in the first quarter of 2022
Slow down operation quality
The efficiency of production and marketing convergence declined
According to the data of the National Bureau of statistics, in the first quarter of 2022, the proportion of three fees for printing and dyeing enterprises above designated size was 7.08%, which was 0.61 percentage points lower than that of the previous year. Among them, cotton printing and dyeing enterprises accounted for 6.87% and chemical fiber printing and dyeing enterprises was 8.56%; The turnover rate of finished products was 16.64 times / year, with a year-on-year decrease of 3.22%; The turnover rate of accounts receivable was 8.83 times / year, with a year-on-year increase of 7.74%; The turnover rate of total assets was 0.97 times / year, an increase of 8.70% year-on-year. Compared with January to February, the growth rate of finished product turnover decreased by 7.06 percentage points in the first quarter. The growth rate of accounts receivable turnover rate and total asset turnover rate slowed down, which was mainly affected by the severe domestic epidemic situation since March, the strengthening of epidemic control measures by the local government, and the poor operation of the industrial chain supply chain due to traffic and logistics constraints.
Table 2 main operation quality indexes of printing and dyeing enterprises above designated scale in the first quarter of 2022
The overall development efficiency is better
The growth rate is facing the pressure of slowing down
According to the data of the National Bureau of statistics, in the first quarter of 2022, the business income of printing and dyeing enterprises above Designated Size reached 67.806 billion yuan, a year-on-year increase of 16.86%, a decrease of 2.03 percentage points from January to February; The total profit was 1.991 billion yuan, a year-on-year increase of 43.28%, 8.20 percentage points lower than that of January February; The profit margin of cost and expense was 3.08%, increased by 0.51 percentage points year on year; The sales profit margin was 2.94%, up 0.47 percentage points year on year; The export delivery value was 9.450 billion yuan, up 14.99% year on year. The number of 1677 printing and dyeing enterprises above designated size was 651, accounting for 38.82% of the total loss, with a slight decrease of 0.18% year-on-year; The total loss of loss making enterprises was 1.028 billion yuan, a year-on-year increase of 6.50%. In the first quarter, the overall order volume of printing and dyeing enterprises was stable, and the starting situation was basically good. Under the background of the obvious increase in the demand of Southeast Asian countries for China's printing and dyeing fabrics, the main economic indicators of enterprises achieved a high range of growth, but at the same time, they were also facing the pressure of slowing down the growth rate.
Table 3 main economic indicators of printing and dyeing enterprises above Designated Size in the first quarter of 2022
From the overall situation of the first quarter, the export performance of China's printing and dyeing industry was good, and the overall domestic market demand was weak. In the second quarter, due to the frequent outbreaks in many places and the epidemic prevention and control policies in April and may, the domestic market demand continued to weaken, the stable development of the industry still faced many constraints, and the economic operation faced greater pressure. With the gradual control of the epidemic situation, the production and operation of enterprises will gradually get on the right track, and the domestic demand consumption market will also usher in a recovery. Under the state's loose monetary policy, stabilizing foreign trade and promoting consumption, and increasing support for the real economy, the printing and dyeing industry will gradually stabilize.
(source: China printing and dyeing industry association)