As China's textile Printing and dyeing Industry Air China, one of the leading shares (600 987), listing more than half the market suffered the cold test, the current stock market value fell below the issue price has more than 50% of the market caused by the universal concern of all parties. To this end, Shanghai Securities News Reporter made a special trip to the on-site interviews. Air China shares in the production site of several printing and dyeing workshop, the reporters saw piles of cloth to be processed, steaming bleaching, dyeing, Printing And other finishing equipment are operating at full capacity; in sewage treatment plants and thermal power projects to raise funds new plant in the region, also a pack of vibrant production scene. Intense and busy production scene of people feel that the company's production and operation of an orderly. It can be said to be left out of the stock market and its secondary production lively scene in stark contrast. This is what causes what? Reporter interviewed the company's chairman Zhu Chongqing.
Zhu Chongqing reason elaborate to reporters. Since listing in August last year, the company fundamentals, some changes have indeed occurred. Achieve 2004 earnings per share 0.14 yuan, compared with the same period in 2003, down 58.33%; main business income of 944,592,400 yuan, compared with growth of 13.52% over the same period in 2003; to achieve net profit of 39.5429 million yuan, down 47.91 percent over the same period last year. The first quarter of 2005, realized main business income of 214,391,100 yuan, rose more than 20% in mid-2004, 5.7175 million yuan net profit achieved, proved in 2004 fell 11.03%. Company's main business growth and a dramatic decline in net profit shows the fact that in the global coal, oil, Iron ore Substantial price increases of raw materials and other basic premise, as the processing enterprises unprecedented profit margins squeezed. "As the processing enterprises, more and more money is not easy!"
Zhu Chongqing explains why the performance fell so fast it, first of all raw materials prices rose too quickly, greatly increases the costs. Since the second half of 2003, coal prices rose rapidly, causing a sharp rise in electricity costs. As the country while strict price control, related to the national economy and price, and not followed up, so the profits were mostly coal-fired electricity price "eaten", and thus the profitability of thermoelectric project had an impact. The company's main business of textile printing and dyeing it another piece, mainly due to two reasons: As the stone Oil prices Lattice up to make the production process of textile printing and dyeing and other chemical products required for glacial acetic acid prices rose sharply; surrounding areas as printing and dyeing enterprises in Xiaoshan rapid growth, intense competition, leading to rising production costs can not be transferred to the lower reaches of the price.
Tax policy changes, followed by decline in profits caused by a few years ago to enjoy a low corporate tax rate policy has been canceled as listed. In addition, the power plant from the original rate of 16% to 33%. The electricity sold as high as 17% VAT, the VAT rate of raw material suppliers is relatively low, making the difference between the higher tax rate can not be balanced, thus, brings greater the tax burden.
Zhu Chongqing, said the decline in the face of company performance, company management is trying to take active measures. Traditional industries is the most viable industry, textile industry and people's livelihood are closely related, the prospects for the industry is no doubt. He believes that after WTO entry in 2005 is Textile quotas Abolition of the first year, to the textile industry has brought new development opportunities. Although some countries are implementing anti-dumping on Chinese textiles, but he thinks it is not terrible, as long as the production technology has improved continuously, the level of various types of printing and dyeing processing technology to meet international standards, China's textile products can still be accepted by the international market. Of the domestic enterprises, the greatest enemy is internal friction, is the industry's disorderly competition and fraud, this is the decline in exports of Chinese textile industry, the real source. He stressed that the company in 2004, is a valley high in the past 25 consecutive growth process has been a cyclical adjustment. The company will adjust the active training, this year's goal is to stabilize domestic situation, and further strengthen the management, strengthen internal reforms to reduce the cost of industrial processes, while developing new products, cultivate new growth points for a later stage of recovery growth to make preparations.
In addition, the present, the company raised funds in the Qianjiang New cogeneration projects and cogeneration projects will be fully operational in August this year, which will bring new business profit growth. Raised funds for weaving fabric project equipment has now introduced a half, all of the introduction of the current world's most advanced weaving machine model, can be put into production this year. Meanwhile, the company raised funds in the project the green textile issue because although it failed to start site, but the company is considering the acquisition of other more powerful printing and dyeing enterprises technical means, to the realization of ecological balance, Cleaner Production , Strain the market and cost control as the main purpose of the project the green textile printing and dyeing, so as to continuously improve the company's printing technology. The company has locked the target company, is actively discussion. I am an expert from Mp3 Player Manufacturers, usually analyzes all kind of industries situation, such as car alarm transmitter , valet remote starter.
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