How To Deal With Abnormal Stock In Textile And Garment Enterprises

All along, the industry has regarded chemical fiber weaving enterprises and garment enterprises as the relationship between water and fish.

Chemical fiber weaving is water and clothing is fish.

Without water, fish can not survive; only water without fish is a stagnant water.

However, the overcapacity of the national textile industry is seriously troubled by the major enterprises in the industrial chain, and chemical fiber weaving enterprises are no exception.

It is foreseeable that the abnormal inventory of textile and garment enterprises has spread to chemical fiber.

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For A clothing companies, inventory problems continue to spread in recent years.

According to Wind statistics, as of last week, 40 listed garment enterprises in A share issued semi annual reports. The total inventory of these enterprises at the end of the reporting period reached 34 billion 850 million yuan, accounting for 35.08% of the current assets.

At the same time, the total net profit of the 40 listed garment enterprises in the first half is only 4 billion 853 million yuan, that is to say, the total inventory value is equivalent to 7 times the total net profit.

Since 2010, due to the sluggish demand and intensified competition in the industry, inventory backlog has become the deadlock of the garment industry. The turnover days of many listed garment enterprises are more than one year.

A certain Shaanxi

The staff introduced that the individual brand's inventory cycle even reached 3 years or so, and there was still need for profit support behind the sales inventory. The financial statements were not good looking, and the banks would be in debt at the later stage, so many garment enterprises had already fallen into a vicious cycle of turnover.

Faced with the shortage of short term chemical fiber products caused by the shortage of chemical fiber terminal market, the low growth rate and high storage of chemical fiber weaving industry have gradually become a normal situation, and high storage has also presented a new trend of development, that is, the inventory of the entire terminal products and the inventory caused by retailers are shifted to the upstream chemical fiber industry.

The most direct reason for excess capacity is the serious expansion of enterprises' scale, blindly pursuing the scale effect, trying to reduce costs through scale expansion, and enhancing the competitiveness of enterprises, ignoring the most important survival index of enterprises is profit.

The output of domestic chemical fiber increased from 6 million 940 thousand tons in 2000 to nearly 50 million tons in 2015, with an average annual growth rate of over 35%. The profit rate has dropped to 5% of the total.

The lack of innovation ability also leads to more and more enterprises.

Because of the pursuit of scale, the lack of R & D investment in enterprises ultimately leads to serious homogenization of products in the industry.

Homogenization seriously aggravates the scale effect of enterprise competition, and then enters the cycle of vicious cycle.

As a result, the larger the scale of the industry, the lower the profit.

The main problem of the current crisis is the sluggish global market demand.

Under the global industrial configuration, China's chemical fiber industry has actually taken on the role of meeting the needs of world chemical fiber.

Capacity allocation is also based on the demand of the global market. However, after the world economy has entered the downlink cycle, the demand has declined, and the industry's daily sales have also reached the volume of the day.

It can be seen that the current

Generally bear great pressure, and with the production pressure from downstream downstream products to the upper and middle reaches, the upper and middle reaches of the stock increase, the price of products is low, and the profits of enterprises are gradually reduced or even lost.

Some enterprises even feel that the situation is even more severe than in 2008. It is expected that this pressure will continue in recent years.

The problem of overcapacity has caused many enterprises to go bankrupt due to default on loans. Now, the chemical fiber weaving industry seems to be suffering from excess capacity.

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"Digesting excess capacity and realizing industrial pformation and upgrading" has become the consensus of the chemical fiber weaving industry.

This year's polyester market is getting warmer. However, through the semi annual performance report of textile listed companies, most of the chemical fiber enterprises' profitability has not been improved.

The industry believes that these enterprises are mainly involved in real estate, futures and other non entity economic areas, and are not familiar with these industries, and enter into losses.

As a pillar industry of the state, the chemical fiber weaving industry is an important part of the textile industry. Its development is supported by the growth of downstream demand, and its ability to resist risks is strong.

Although the pressure of production capacity is larger, the profitability of enterprises is worse, but compared with some industries, the operation is relatively stable and healthy.

Some enterprises do not adapt to the psychological gap from high profits to low profits, and thus generate speculative psychology and get involved in other industries with strong financial attributes.

In recent years, the problem of capital chain breaking has aroused social concern in Jiangsu and Zhejiang provinces.

Some chemical fiber companies are involved.

Local people said that those who encountered capital chain breakage of chemical fiber enterprises often entered the real estate project, after the fall of the real estate industry was hit hard.

On the contrary, in 2015, the central bank's interest rate cut was intended to solve the financing difficulties of enterprises, but it stirred some enterprises to gain excess profits through the stock market.

The author believes that a solid and good industry can make enterprises invincible.

"Doing nothing" also leads to the difficulty of upgrading and changing the level of development of enterprises.

The pformation of the industry requires enterprises to concentrate on their main businesses.

In addition, in the current market, enterprises are often confused by the industry. The industry's enterprises say that some enterprises sell products like cabbage in the crisis, leading to the development of the whole industry.

Industry self-discipline needs to be strengthened.