1. Textile giant fell from the altar? 40 billion in debt, bankrupt subsidiary, and another 40 million loss in 9 months (Popularity: ★★★★★★)
According to the third quarter performance announcement released by Ruyi Group on October 28, the company suffered a net loss of 43.3 million yuan in the first three quarters of this year. Ruyi Group regrets turning from profit to loss.
However, losses are not the only problem Ruyi Group faces today. It still has tens of billions of debts to repay. According to data released in Ruyi Technology’s 2020 annual report, the company is carrying nearly 40 billion in debt. Because they were burdened with high loans and the company’s capital flow was very tight, many subsidiaries of Ruyi Group went bankrupt one after another.
2. Foreign trade is ushering in great benefits: the U.S. Treasury Secretary is considering reducing tariffs on some Chinese goods, and the global textile industry is welcoming Strong recovery! (Popularity: ★★★★★)
Recently, U.S. Treasury Secretary Yellen said in a TV interview that the United States is considering reducing some tariffs on Chinese goods. .
24 American business associations sent a letter to Dai Qi and Yellen last Friday (12th), calling on the White House to reduce tariffs on Chinese goods and expand the scope of import tariff exemptions to restore the competitiveness of American companies. According to Hong Kong’s South China Morning Post, these associations complained in the letter that tariff measures continue to cause disproportionate economic harm to American companies, farmers, workers and families.
According to the agreement between China and the United States, President Xi Jinping held a video meeting with US President Biden on the morning of November 16. The two sides had full and in-depth communication and exchanges on strategic, overall and fundamental issues related to the development of Sino-US relations, as well as important issues of common concern. Some institutions and companies have recently judged that the phone call between the heads of state of China and the United States on November 16 will push the United States to reduce or cancel the tariffs on imported goods from China and at the same time lift the ban on the import of Xinjiang cotton products, which may be beneficial to China’s textile and apparel imports. European and American exports are back on track.
3. Polyester filament welcomes another big promotion: a sharp drop of 200-600 yuan/ton (hotness: ★★★ ★)
“Power restrictions and production restrictions” caught the entire textile industry chain off guard, with reduced production capacity, rising raw material prices, and shortages. Phenomena such as goods are reflected from the raw material end to the demand end. Entering November, although some conditions have improved, the textile market seems to be in a more tangled state than in October.
Recently, the prices of textile commodities have fluctuated. Fluctuations in raw material prices were transmitted downwards. On the 15th, major polyester manufacturers once again had major promotions, with prices falling by 200-600 yuan/ton. As of November 15, the prices of polyester filament products were compared with the highest value last month and this year. Polyester filament FDY150D fell by 1,250 yuan/ton to 7,950 yuan/ton, POY150D fell by 1,350 yuan/ton to 7,750 yuan/ton, and DTY150D fell by 1,350 yuan/ton. ton to 9,450 yuan/ton.
4. Suddenly, a dyeing factory in Zhejiang issued a notice to suspend production! (Popularity: ★★★)
On November 18, a well-known printing and dyeing factory in Zhejiang issued a temporary suspension notice. It is expected that starting from November 20, 2021, The annual production electricity consumption has been used up and production has to be temporarily suspended. It will be resumed after January 1, 2022.
Although power rationing has also occurred during peak power consumption in previous years, “open for two and stop for five”, “limit production by 90%”, and “thousands of companies stop limiting production” The situation is unprecedented. If there is a long-term power outage, production capacity will definitely not be able to keep up with demand, and orders can only be further reduced, making the supply on the demand side even tighter.
5. Xinfengming’s production capacity is accelerated again: Dushan Energy Phase III PTA project kick-off meeting! (Popularity: ★★)
From November 8th to 12th, the third phase of the PTA project of Zhejiang Dushan Energy Co., Ltd. kicked off in Dushan, Pinghu City Hong Kong Petrochemical Industrial Park was successfully held. Zheng Yongwei, Vice President of Xinfengming Group and General Manager of Dushan Energy, Du Qunlong, Asia Director of Koch Technologies UK Ltd. (KTS), Liu Wei, Assistant General Manager of Jingding Engineering Construction Co., Ltd. and other relevant leaders and members of the tripartite project team attended the meeting. Xiao Haifeng, deputy general manager of Dushan Energy, chaired the meeting.
The smooth convening of the opening meeting of the Dushan Energy Phase III PTA project not only pressed the “start button” for the substantive construction of the project, but also enabled Xinfengming Group to realize the “three Thousand” strategic goal pressed the “fast forward button”.
6. The demand for down jackets has exploded, with sales soaring nearly 140% year-on-year! (Popularity: ★)
Since the beginning of winter, the temperature has gradually dropped in various places. In some areas, it has even “entered winter in one day”, with the temperature plummeting by 10 degrees Celsius. , equipped to keep out the coldAs a popular consumer item, many people have begun to purchase down jackets.
Lin Ting, manager of a Shanghai brand’s down jacket flagship store: Before the temperature dropped, the number of people entering the store every day was about 700 to 800, or thousands. Two to three thousand people. In terms of sales, for example, yesterday, our sales exceeded 900,000 yuan. Last year we could only do two to three hundred or three to four hundred orders. This year we can break through to six to seven hundred orders, a year-on-year increase of nearly 140%.
In 2020, the size of my country’s down jacket market has reached 131.7 billion yuan, with an industry growth rate of 8.93%. Industry analysts pointed out that due to the expected impact of the cold winter, it is expected to exceed 150 billion yuan this year. As domestic down jacket brands continue to upgrade, the prosperity of the down jacket industry will increase in the future. </p
