The performance of the textile and chemical fiber group in July showed the performance of "thin at the top and fat at the bottom". Downstream garment factories benefited from the traditional peak season for shipments, and revenues showed a growth momentum in July. Among them, Juyang (1477) achieved its highest comprehensive revenue in July this year under the condition of high unit price orders and an increase in the proportion of shipments.

 

The upstream and midstream chemical fiber factories are still adjusting due to the economic boom, and the demand is still sluggish. The comprehensive revenue of processed silk factories Hongyi (1452) and Lianfafang (1459) in July still fell by about 30% year-on-year.

 

Hongyi’s consolidated revenue in July was 97.83 million yuan, a year-on-year decrease of 28.05%; Lianfafang’s July consolidated revenue was 80.42 million yuan, a year-on-year decrease of 50.49%.

 

In addition to the decline in downstream demand affecting revenue performance in July, people in the chemical fiber industry pointed out that the expansion of polyester and nylon production capacity in mainland China has led to market price competition and affected the shipments of relevant domestic manufacturers. The average production line utilization rate has decreased, and the performance is naturally not good.

 

In addition, the market pointed out that the visibility of orders in the hands of domestic polyester and nylon factories is at most about one month, which is not enough to support operational growth.

 

Due to the current price drop of polyester and nylon, insiders in the chemical fiber industry revealed that many of their counterparts did not open the market at all, and the market supply dropped sharply. Although the prices of related products have risen due to this, the overall profit in the second half of the year will be slightly higher than that in the first half of the year. However, full-year operations are still expected to struggle to match last year's performance.

 

Juyang’s comprehensive revenue in July was 2.966 billion yuan, a year-on-year decrease of 20.23%, but an increase of 5.94% from June. Juyang pointed out that the third quarter is the traditional peak season, and the inventory adjustment of American customers is coming to an end, so the effect of this year's peak season can be expected.

 

Looking forward to the fourth quarter, Juyang said that although the current order visibility is still low, driven by Japanese customers, the annual growth rate of shipments in the second half of the year is still expected to reach double digits. Overall, this year's business growth trend is still worth looking forward to. (Source: ctee 0808) ☺

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