The epidemic has entered its third year. The cost of raw materials and logistics expenses have soared, causing textile companies’ profits to be significantly reduced or even suffered losses. The “bankruptcy wave” has once again surged, especially small and medium-sized textile manufacturers, which are struggling. Even some of the top textile giants in the industry experienced a trend of “slight increase in revenue and sharp decline in profits” in the first half of the year, and there were also many losers.
The undercurrent of bankruptcy is surging, and many well-established textile companies have collapsed!
The overall assets of Sheyang Desheng Textile Co., Ltd. including its factory buildings, land use rights and ancillary facilities will be auctioned on September 25!
All real estate, power distribution, office equipment and other assets of Shaoxing Keqiao Mingyang Textile Co., Ltd. have been auctioned on September 9! It ended on September 13 and was finally sold to the buyer at a price of 67,570,280 yuan.
According to online public information, Shaoxing Keqiao Mingyang Textile Co., Ltd. was established on June 5, 2002. Its registered address is No. 288 Silk and Satin Road, Huashe Street, Keqiao District, Shaoxing City. Its business scope includes production and processing: knitted textiles, clothing, Home textile products; wholesale and retail: knitted textiles, light textile raw materials, clothing, home textile products; import and export of goods (except where prohibited by laws and administrative regulations).
The factory buildings, other ancillary facilities and machinery and equipment owned by Shaoxing Zhengda Guangming Textile Co., Ltd. have been auctioned on September 6! It was finally sold to the buyer at a price of 60,111,090 yuan.
According to public information on the Internet, Shaoxing Zhengda Guangming Textile Co., Ltd. was established on November 16, 2001. Its registered address is Yuzhu Village, Keyan Street, Keqiao District, Shaoxing City, Zhejiang Province, and its legal representative is Chen Zhengwen. The business scope includes the production and sales of high-end textile fabrics; the development, sales and leasing of a standard factory building (construction area 110,771 square meters) located in Yuzhu Village, Keyan Street, Shaoxing County (operated with a valid qualification certificate).
On September 6, the Yizheng City People’s Court issued an announcement on the bankruptcy liquidation case of Yangzhou Ruihui Chemical Fiber Products Co., Ltd.
According to public information on the Internet, Yangzhou Ruihui Chemical Fiber Products Co., Ltd. was established on May 14, 2007. Its registered address is Keyan 4th Road, Yizheng Economic Development Zone, and its legal representative is Du Guifang. The business scope includes the manufacturing and sales of polyester fiber yarns; the sales of chemical fiber products and labor protection supplies; self-operated or agency import and export business of various commodities and technologies (except for commodities and technologies that are restricted by the state or prohibited from import and export).
On September 3, Hunan Heli Chemical Fiber Co., Ltd. issued an announcement on the bidding for land use rights, housing buildings, structures and green seedlings.
Hunan Heli Chemical Fiber Co., Ltd. was established on November 3, 2003. Its registered address is Longxutang, Shuangqing District, Shaoyang City. Its legal representative is Zhu Weimin. The business scope includes the manufacturing and export of viscose fiber, cotton pulp, sanitary paper and carbon disulfide; import of raw and auxiliary materials, machinery and equipment, instruments and spare parts required for the company’s production and scientific research; automobile transportation and repair services; power generation , heating, and comprehensive utilization of fly ash (if the above business scope involves licensed projects, they must be operated after obtaining a license).
The market has changed so drastically that textile workers have not made much money this year.
Sometimes it only takes one night to go from skyrocketing to plummeting. As crazy as the market was yesterday, it will be so miserable today. Yesterday, we shouted for a price increase, but today we collectively did not respond. This is the market. It can change its face faster than flipping through a book. You will be in awe!
It’s already September 2022, and there is still no good support for the downstream market. It is difficult for the market to improve in a short period of time. Factories cannot be sold, and downstream people dare not buy. Due to high costs and low profits, small factories are basically wiped out, even in the circle of friends. None of my colleagues can do it anymore
At this moment, every piece of negative information can almost crush the fragile hearts of textile people at any time. The textile people in 2022 are living too coldly, and they don’t know when they will wake up from the nightmare?
I was originally full of expectations for a turnaround in the second half of 2022, but reality gave me a slap in the face, and I didn’t get what I wanted this year., but loss, loss, loss. There will also be a lot of trouble with the payment collection at the end of this year, which may be another round of reshuffle of small and medium-sized enterprises.
I can’t help but sigh at the bankrupt textile companies. Nowadays, each year is worse than the previous year. Domestic demand is sluggish and external demand is turbulent. This is how people in the industry can do business with peace of mind. They should not grit their teeth and persist, or fall down. Looking for the stars and the moon, after all, it is With no hope of good market conditions, how to survive has become the most important thing at the moment.
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