Economic Operation Of Printing And Dyeing Industry In The First Half Of 2021

In the first half of 2021, China's overall epidemic prevention and control and economic and social development achievements continued to consolidate, the printing and dyeing industry production situation continued to improve, the enterprise efficiency gradually improved, the export maintained a rapid growth, and the overall economic situation was stable and good. At the same time, we should also see that the current epidemic situation in foreign countries has been repeated, and the epidemic has rebounded in many places in China. The rise of international commodity prices has affected the production and operation of the industry. The development situation of the industry is still complex, and the stability and recovery of the industry are still facing many challenges.

　　 The production situation is constantly improving and the momentum of development is continuously increasing

Since 2021, the capacity utilization rate of China's printing and dyeing industry has remained at a high level, and the output scale has been significantly improved compared with that before the epidemic. According to the data of the National Bureau of statistics, in the first half of 2021, the output of printing and dyeing enterprises above designated size was 28.743 billion meters, with a significant increase of 25.93% over the same period of 2019, and 20.41% higher than that of the same period in 2019. On the one hand, the situation of epidemic prevention and control in China is basically stable, which provides a strong guarantee for enterprises to carry out various production and operation activities in an orderly manner; On the other hand, thanks to the sustained release of domestic and foreign market demand and the increasing role of consumption, in the first half of this year, the sales of clothing, footwear, knitwear and textiles above the national quota increased by 33.7% year-on-year, and the cumulative export volume of clothing increased by 40.3% year-on-year. The smooth circulation of domestic and foreign consumer markets has become an important support for the stable recovery of the industry. The output of printing and dyeing fabrics of printing and dyeing enterprises above designated scale in the first half of 2019-2021 is shown in Figure 1.

　　 The quality and efficiency of development have been continuously improved, and the foundation for recovery still needs to be consolidated

According to the data of the National Bureau of statistics, in the first half of the year, the proportion of three fees for printing and dyeing enterprises above designated size was 7.03%, which was 0.39% lower than that of the previous year. Among them, cotton printing and dyeing enterprises accounted for 6.75% and chemical fiber printing and dyeing enterprises accounted for 9.00%; The turnover rate of finished products was 9.32 times / year, with a year-on-year increase of 21.45%; The turnover rate of accounts receivable was 4.30 times / year, up 18.13% year on year; The turnover rate of total assets was 0.50 times / year, an increase of 18.30% year-on-year, reflecting that the current industry production and marketing convergence is more smooth, and the operation quality has been continuously improved. Since this year, with the gradual normalization of production and operation of enterprises, the main operation quality indicators of the industry have achieved significant recovery growth on the basis of the low base in the same period of last year, but there is still a significant gap between some indicators and those before the epidemic. Compared with the same period in 2019, in the first half of 2021, the proportion of three fees of printing and dyeing enterprises above designated size increased by 0.26%, the turnover rate of finished products and total assets decreased by 11.64% and 9.35% respectively, and the turnover rate of accounts receivable increased by 6.18%. The foundation for stable improvement of the industry operation quality still needs to be further consolidated.

Table 1   Main operation indexes of printing and dyeing enterprises above designated scale in the first half of 2021

According to the data of the National Bureau of statistics, in the first half of the year, 1550 printing and dyeing enterprises above Designated Size realized 135.120 billion yuan of business income, an increase of 27.02% year-on-year; The total profit was 5.213 billion yuan, up 53.76% year on year; The profit margin of cost and expense was 4.09%, increased by 0.75% year on year; The sales profit margin was 3.86%, up 0.67 percentage points year on year; The number of loss making enterprises was 458, accounting for 29.55%, with a year-on-year decrease of 12.91 percentage points; The total loss of loss making enterprises was 1.125 billion yuan, with a year-on-year decrease of 38.68%; The export delivery value was 18.203 billion yuan, an increase of 19.10% over the same period of last year, reflecting that the current enterprise's profitability has been accelerated to recover and the operating efficiency has been continuously improved. Compared with the same period in 2019, in the first half of 2021, the operating income of printing and dyeing enterprises above Designated Size will decrease by 0.73%, the total profit will decrease by 12.50%, the profit margin of cost and expense will be reduced by 0.55%, the profit margin of sales will be reduced by 0.52%, the loss area will be expanded by 5.93%, the total loss will be increased by 8.95%, and the export delivery value will be reduced by 9.17%.

On the whole, driven by the gradual recovery of domestic and foreign markets, the economic benefits of the industry have continued to recover. In the first half of the year, the business income of printing and dyeing enterprises above the designated level was basically the same as that before the epidemic. However, due to the obvious rise in raw materials, labor costs and shipping expenses since this year, the operating costs of enterprises have increased and the profit space has been squeezed, The gap between the total profit and sales profit margin of the industry and that in the same period of 2019 is still obvious, and there are still many challenges for the industry to achieve a comprehensive recovery.

Table 2   Main economic indicators of printing and dyeing enterprises above Designated Size in the first half of 2021

　　 Export continued to grow and the foreign trade situation remained good

Since this year, the state has issued a series of stable foreign trade policies and measures, and launched effective measures to support enterprises to expand the market and increase orders. The export of printing and dyeing industry has maintained a rapid growth trend, and the export scale has also achieved positive growth compared with that before the epidemic. It is particularly noteworthy that the average export unit price of eight categories of printing and dyeing products has achieved positive growth for the first time since the epidemic. According to the statistical data of HS8 code of China Customs, in the first half of 2021, the export volume of eight categories of printing and dyeing products was 13.637 billion meters, with a year-on-year increase of 40.66%; The export value was 13.417 billion US dollars, up 41.33% year on year; The average export unit price was 0.98 USD / m, with a year-on-year increase of 0.47%. Compared with the same period in 2019, the export volume and export amount increased by 4.87% and 0.47% respectively, while the average export unit price decreased by 4.19%, reflecting the fierce competition in the export market.

Table 3   Export of eight categories of printing and dyeing products in the first half of 2021

Overall, the economic operation of the printing and dyeing industry continued to recover in the first half of the year, laying a good foundation for the smooth operation of the whole year. In order to cope with the uncertainty of the external environment faced by the industry development in the future, the industry should further consolidate the scale advantage, give full play to the advantages of the complete manufacturing industry system, continuously promote the supply side structural reform, accelerate the formation of innovation driven flexible supply system, and continuously improve the added value of products through material innovation, process innovation and product innovation, We will improve the industry's ability to resist risks and develop its resilience, and further consolidate the foundation for the steady development of the industry's economy.

(source: China printing and dyeing industry association)