In the first three quarters of 2021, the development of the printing and dyeing industry faces a complex situation with significantly increased risks and challenges at home and abroad. The global epidemic has repeated, and the textile industry chain and supply chain have not been fully restored; there is a shortage of energy, and prices of bulk commodities and raw materials are running at high levels. Enterprise production costs have risen sharply; some areas in the country have been hit by the epidemic and flood conditions, and enterprise production has been affected to a certain extent. Faced with the impact of many factors, the printing and dyeing industry has generally maintained a recovery and development trend. The main operating indicators have increased significantly compared with the same period last year, and some indicators have exceeded the levels of the same period in 2019. Since late September, the major producing provinces of printing and dyeing products have successively introduced “dual control” policies on energy consumption. Affected by power restrictions and production restrictions on enterprises, production and operation pressure has increased, and the industry faces challenges in maintaining stable growth throughout the year.
1 The production situation has recovered steadily
According to data from the National Bureau of Statistics, from January to September 2021 , the printing and dyeing cloth output of enterprises above designated size in the printing and dyeing industry was 44.286 billion meters, a year-on-year increase of 21.11%, and the two-year average growth rate was 5.34%. The two-year average growth rate was higher than the growth rate of the same period in 2019 (4.4%), indicating that industry production has recovered and exceeded the epidemic situation front level. As the base number increased in the same period last year, the growth rate of printing and dyeing fabric production showed a trend of “high at first and then low” (Figure 1).
Figure 1 Production of printed and dyed fabrics by enterprises above designated size in the first three quarters of 2019-2021
Printing and dyeing industry Production has maintained rapid growth, firstly because the domestic demand market for textiles and clothing has steadily improved. According to data from the National Bureau of Statistics, in the first three quarters of 2021, the national total retail sales of clothing, shoes, hats, and needlework textiles above designated size increased by 20.6% year-on-year, and the growth rate was higher than that of the previous year. It rebounded by 33 percentage points in the same period last year, with an average growth of 2.8% in the two years; secondly, because China’s textile and apparel exports maintain good growth momentum, Chinese customs data shows that in the first three quarters of 2021, China’s cumulative exports of textiles and apparel increased by 5.6% year-on-year, compared with 2019 The same period increased by 12.7%, of which clothing exports increased by 25.3% year-on-year and 8.5% compared with the same period in 2019, setting a new high for the same period in the past six years.
2 The export market maintains good growth
According to China Customs HS 8-digit code statistics, in 2021 From January to September, the export volume of the eight major categories of printing and dyeing products was 20.662 billion meters, a year-on-year increase of 28.48%, and the two-year average growth was 2.05%; the export value was US$20.444 billion, a year-on-year increase of 32.31%, the two-year average growth was 0.74%; the average export unit price was US$0.99 / meter, a year-on-year increase of 2.98%, and the two-year average growth was -1.48%. In the first three quarters of 2021, the export of major products in the printing and dyeing industry showed a trend of “increasing volume and price”, and the export scale has exceeded the level of the same period in 2019. However, the average unit price of exports is still a certain gap compared with before the epidemic, reflecting that the current export market of the industry is still facing a large competitive pressure.
Table 1 Export status of eight major categories of printing and dyeing products in the first three quarters of 2021
3 Operation quality has steadily improved, and the foundation for good progress remains Need to consolidate
According to data from the National Bureau of Statistics, from January to September, the proportion of three fees for enterprises above designated size in the printing and dyeing industry was 6.80%, a year-on-year decrease of 0.23 percentage points. Among them, the ratio for cotton printing and dyeing enterprises was 6.63 %, chemical fiber printing and dyeing enterprises were 8.11%; finished product turnover rate was 18.32 times/year, a year-on-year increase of 12.88%; accounts receivable turnover rate was 8.49 times/year, a year-on-year increase of 14.68%; total asset turnover rate was 1.01 times/year, a year-on-year increase 13.33%. Compared with the same period in 2019, the proportion of three fees for enterprises above designated size in the printing and dyeing industry increased by 0.14 percentage points, the turnover rate of finished products and total asset turnover rate decreased by 13.60% and 6.88% respectively, and the turnover rate of accounts receivable increased by 3.99%. In the first three quarters of 2021, as the production capacity of the printing and dyeing industry is gradually released, the industry’s main operating quality indicators are stable and improving, and corporate operating efficiency continues to improve. However, some indicators still have significant gaps compared with before the epidemic, and the foundation for the industry’s steady recovery still needs to be further consolidated.
Table 2 Main operational quality indicators of printing and dyeing enterprises in the first three quarters of 2021
4 Run The overall efficiency has improved, but the operating pressure of enterprises is still high
According to data from the National Bureau of Statistics, from January to September, 1,567 printing and dyeing enterprises above designated size across the country achieved operating income of 208.904 billion yuan, a year-on-year increase 21.23%, the two-year average growth rate is 0.92%, the two-year average growth rate is slightly higher than the growth rate in the same period in 2019 (0.72%); the total profit was 8.826 billion yuan, a year-on-year increase of 27.47%, the two-year average growth rate was -4.93%; cost The expense profit margin was 4.50%, a year-on-year increase of 0.25 percentage points; the sales profit margin was 4.23%, a year-on-year increase of 0.21 percentage points; the number of loss-making enterprises was 408, with a loss area of 26.04%, a year-on-year narrowing of 9.94 percentage points; the total loss of loss-making enterprises was 1.475 billion yuan , a year-on-year decrease of 24.70%; the export delivery value was 28.205 billion yuan, a year-on-year increase of 13.24%, and the two-year average growth rate was -4.97%. Compared with the same period in 2019, the cost profit margin of printing and dyeing enterprises above designated size decreased by 0.57 percentage points, the sales profit margin decreased by 0.53 percentage points, the loss area expanded by 4.11 percentage points, and the total loss increased by 12.65%. In the first three quarters of 2021, the operating efficiency of the printing and dyeing industry has improved significantly compared with last year, and operating income has exceeded the level of the same period before the epidemic. However, due to factors such as the sharp increase in upstream raw material prices, high international shipping costs, and the rise in the RMB exchange rate, the printing and dyeing industry has…Production costs have increased significantly. Due to the difficulty in transmitting costs to downstream, the profit margins of printing and dyeing enterprises have been squeezed, and production and operation pressure has been great.
Table 3 Main operating efficiency indicators of printing and dyeing enterprises in the first three quarters of 2021
In the first three quarters of 2021, my country’s printing and dyeing industry In the face of complex and severe domestic and international situations, we have basically maintained a good momentum of restorative development. Entering the fourth quarter, the prices of upstream raw materials have remained adjusted at a high level overall. Some regions have introduced policies to limit power supply and production. The efficiency of the international textile industry chain and supply chain connection still needs to be improved. The production and operation pressure of the printing and dyeing industry is still high. However, driven by the peak consumption seasons at home and abroad, the printing and dyeing industry is expected to achieve smooth operation throughout the year.
Note: The two-year average growth rate refers to the growth rate calculated using the geometric mean method based on the corresponding corresponding period in 2019. </p
