Are listed textile manufacturers in arrears for several months in wages?
what’s the situation! Are the major textile factories that have gone public now also in arrears with wages? It takes several months to pay off the debt!
Just yesterday, Xinye Textile responded publicly on the interactive platform. Since April 2022, the textile industry has encountered sales obstacles, poor logistics, declining orders, imbalanced production and sales, increased inventory pressure, increased capital chain pressure, and confidence. Due to setbacks due to the epidemic, as well as a series of problems such as Xinjiang cotton, business risks have increased, uncertainties have increased, and the company is facing many difficulties in production and operation. The company has delayed the payment of wages, but this has now been resolved. picture
Xinye Textile (002087) responded to investors’ concerns on June 23 on the investor relations platform.
Investors: Recently, many company employees have posted videos on short videos saying that they have not been paid for almost 7 months. Today there are messages saying that we will collectively go to the county committee to ask for wages. Some employees in the company’s production department also said they have been on vacation. Is the company’s current production normal? Why do these videos of unpaid wages suddenly appear on the Internet? How does the company deal with the current problem of depleted capital flow? Why not actively introduce private placement investment institutions in the securities market or speed up the asset restructuring process to supplement cash flow? It must be Will the company suffer losses and completely lose the good financing function of the securities market? Wouldn’t this make state-owned assets suffer greater losses?
Secretary of the Board of Directors of Xinye Textile: Dear investors, hello! Since April 2022, the textile industry has encountered a series of problems such as sales difficulties, poor logistics, declining orders, imbalanced production and sales, increased inventory pressure, increased pressure on the capital chain, frustrated confidence, and Xinjiang cotton, and business risks have increased. As a result, uncertain factors have increased, and enterprises are facing many difficulties in production and operation. The company has delayed the payment of wages, which has now been resolved. Although faced with many difficulties, the company has risen to the challenge and worked hard to improve its internal strength by trying various ways, such as diversifying sales channels, supply chain processing trade, and paying close attention to business management, etc., to ensure employment, production, and employees’ lives, and strive to achieve success. There is a situation of arrears of wages to employees. thanks for your attention!
There are overwhelming voices asking for wages online
2022 is really a particularly difficult year for textile people, and the reasons leading to this situation are well known!
So, now that big factories are like this, how can small factories survive?
Company Profile
According to public information, Henan Xinye Textile Co., Ltd. is a large-scale national textile backbone enterprise. It was listed on the stock market in November 2006 and is a national functional product development base. It mainly produces and operates four series of more than 100 varieties of pure cotton and blended yarns, pure cotton and blended fabrics, yarn-dyed fabrics, and home textiles. It has an annual output of 150,000 tons of high-end fabric yarn and 150 million meters of clothing fabrics.
It is one of the 520 key enterprises in the country and the 50 key enterprises for product structure optimization in Henan Province. It passed the ISO9002 quality system certification in 2001. The company has 5 production branches, and two-thirds of the key textile equipment is imported from Germany, Japan, Italy and other countries. It has fixed assets of 1.36 billion yuan and currently has 9,035 employees. The products are sold domestically in more than 20 provinces and cities including Guangdong, Fujian, Shandong, and Shanghai, and exported to 12 countries and regions including the United States, Hong Kong, and South Korea. The company actively participates in international market competition, actively develops foreign trade business, and expands import and export trade volume, laying a solid foundation for the company to enter the international market. Ranked 52nd on the 2019 Henan Top 100 Enterprises list.
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