Cotton textiles are the primary textiles in the industry for their good performance, low prices and simple manufacturing processes. Major consumption and production regions of cotton textiles include North America, Europe, Japan, Southeast Asia, China and India. China is an important cotton textile manufacturing country. The status of the cotton textile industry has not been replaced by other growing industries including chemical fiber, woven, printing and dyeing and home textiles. Cotton textile companies provide large quantities of raw materials and basic products for woven, printing and dyeing, home textile and garment industries in the downstream. The cotton textile industry also affects China's economy because it not only creates a lot of jobs, but is an important export industry.
According to CRI, in 2016, China's cotton textile industry developed in stability. Although the fluctuation in cotton prices rendered negative influences on the industry, enterprises were better coping with changes and reported higher returns than that in 2015. In 2016, the sales revenue of the cotton textile industry was CNY 2,256.2 billion, increasing by 4.3% YOY over 2015; gross profits were CNY 115.7 billion, increasing by 2.6% YOY; export delivery value was CNY 99.8 billion, increasing by 3.6% YOY.
A highlight in the industry in 2016 was investment, the YOY growth of which was higher than average. Investment in the textile industry from January to September 2016 grew by 9.54% YOY while that in the cotton fabric processing grew by 18% YOY and that in cotton weaving processing grew by 21.78% YOY.
In this report, CRI analyzes 13 cotton textile enterprises listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1) financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
- Earnings per Share
- Book Value per Share (BPS)
- Sales per Share (SPS)
- Net Cash Flow per Share from Operations
- Net Cash Flow per Share (CNY)
- Return on Net Worth
- Net Profit Margin on Total Assets
- Return on Invested Capital (ROIC) (%)
- Gross Profit Margin on Sales (%)
- Net Profit Margin on Sales (%)
- EBIT Margin (%)
- EBITDA Margin (%)
- Debt to Asset Ratio (%)
- Total Asset Turnover (times)
- Cash/Operating Income Received from Sales of Goods or Services
- YOY Growth Rate of Operating Revenue (%)
- YOY Growth Rate of Operating Profit (%)
- YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
(2) Summary of Income Statement
- Gross Revenue (CNY, million)
- Total Operating Costs (CNY, million)
- Revenue (CNY, million)
- Operating Profit (CNY, million)
- Total Profit (CNY, million)
- Net Profit (CNY, million)
- Net Profit Attributable to Shareholders of Parent Company (CNY, million)
- Non-recurring Items (CNY, million)
- Net Profit Deducting Non-recurring Items (CNY, million)
- R&D Costs (CNY, million)
- Earnings Before Interest and Tax (EBIT) (CNY, million)
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (CNY, million)
(3) Summary of Balance Sheet
- Liquid Asset (CNY, million)
- Fixed Asset (CNY, million)
- Long-term Equity Investment
- Total Assets (CNY, million)
- Liquid Liability (CNY, million)
- Non-current Liability (CNY, million)
- Total Liability (CNY, million)
- Capital Reserve (CNY, million)
- Surplus Reserve (CNY, million)
- Undistributed Profit (CNY, million)
- Shareholders' Equity (CNY, million)
- Equity Attributable to Shareholders of Parent Company (CNY, million)
(4) Summary of Cash Flow Statement
- Cash Received from Sales of Goods and Services (CNY, million)
- Cash Flow from Operations (CNY, million)
- Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
- Cash Paid for Investments (CNY, million)
- Cash Flow from Investments (CNY, million)
- Cash Received from Investors (CNY, million)
- Cash Received from Borrowings (CNY, million)
- Cash Flow from Financing (CNY, million)
- Net Increase of Cash and Cash Equivalents (CNY, million)
- Cash and Cash Equivalents, End of Period (CNY, million)
- Depreciation and Amortization (CNY, million)
Companies in the report:
1 Ningbo Veken Elite Group Co., Ltd. (600152.SH)
2 Hunan Huasheng Co., Ltd. (600156.SH)
3 Fujian Fynex Textile Science & Technology Co., Ltd. (600493.SH)
4 Black Peony (Group) Co., Ltd. (600510.SH)
5 Bros Eastern Co., Ltd. (601339.SH)
6 Shijiazhuang Changshan Textile Company Limited (000158.SZ)
7 Lu Thai Textile Co., Ltd. (000726.SZ)
8 Anhui Huamao Textile Company Limited (000850.SZ)
9 Huafu Top Dyed Melange Yarn Co., Ltd. (002042.SZ)
10 Kairuide Holding Co., Ltd. (002072.SZ)
11 Sunvim Group Co., Ltd. (002083.SZ)
12 Henan Xinye Textile Co., Ltd. (002087.SZ)
13 Jiangsu Lianfa Textile Co., Ltd. (002394.SZ)
1 Ningbo Veken Elite Group Co., Ltd. (600152.SH)
2 Hunan Huasheng Co., Ltd. (600156.SH)
3 Fujian Fynex Textile Science & Technology Co., Ltd. (600493.SH)
4 Black Peony (Group) Co., Ltd. (600510.SH)
5 Bros Eastern Co., Ltd. (601339.SH)
6 Shijiazhuang Changshan Textile Company Limited (000158.SZ)
7 Lu Thai Textile Co., Ltd. (000726.SZ)
8 Anhui Huamao Textile Company Limited (000850.SZ)
9 Huafu Top Dyed Melange Yarn Co., Ltd. (002042.SZ)
10 Kairuide Holding Co., Ltd. (002072.SZ)
11 Sunvim Group Co., Ltd. (002083.SZ)
12 Henan Xinye Textile Co., Ltd. (002087.SZ)
13 Jiangsu Lianfa Textile Co., Ltd. (002394.SZ)
