【Taiwan】Inflation shocks textile mills decrease by 2 digits per year.

Customer inventory is dragging down, inflation affects consumption, and the slowdown of orders placed by brand apparel factories will cause textile and fiber factories to decline in revenue in December 2022. From the upstream chemical fiber factory New Fiber (1402), the midstream silk thread factory Lili (1444), Jisheng (1455), Lianfafang (1459), and Juyang (1477), a downstream garment foundry, will all see double-digit annual revenue declines in December 2022.

 

Spinning mills expect that the industrial climate in the first quarter of 2023 is still in the adjustment period, and it is expected to pick up in the second quarter. Xinxian’s consolidated revenue in December 2022 will be 2.997 billion yuan, an annual decrease of 19.09%; Lili’s December revenue will be 651 million yuan, an annual decrease of 47.58%. Jisheng’s consolidated revenue in December was 536 million yuan, an annual decrease of 47.91%; Juyang’s December revenue was 2.468 billion yuan, an annual decrease of 22.33%.

 

Inflation and the epidemic have reduced the kinetic energy of apparel consumption, and the prosperity of the processed yarn and nylon industries in the middle reaches of the textile fiber industry has fallen into the lowest slump in the past ten years, and the utilization rate of related production plants has dropped to about 60%. As the market demand is still weak, inventory adjustment is still in progress, and the first quarter is the traditional off-season and there is the Lunar New Year holiday, the midstream industry expects that the operation in the first quarter of 2023 will remain conservative, and the revenue from the fourth quarter of the downstream apparel OEMs Judging from the lack of recovery, the "spring" of the processed yarn and nylon industries may have to wait until after the second quarter. (Source: chinatimes0111) ☺

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