The article is sourced from the China Industrial Textile Industry Association, with the author being the China Industrial Textile Industry Association.
2、 Economic benefits
Affected by the high base brought by epidemic prevention materials, the operating income and total profit of China’s industrial textile industry have been in a declining range from 2022 to 2023. In the first half of 2024, driven by demand and the easing of epidemic factors, the industry’s operating revenue and total profit increased by 6.4% and 24.7% respectively year-on-year, entering a new growth channel. According to data from the National Bureau of Statistics, the industry’s operating profit margin for the first half of 2024 was 3.9%, an increase of 0.6 percentage points year-on-year. The profitability of enterprises has improved, but there is still a significant gap compared to before the epidemic. According to the association’s research, the order situation of enterprises in the first half of 2024 is generally better than that in 2023, but due to fierce competition in the mid to low end market, there is greater downward pressure on product prices; Some companies that focus on segmented and high-end markets have stated that functional and differentiated products can still maintain a certain level of profitability.
Looking at different fields, from January to June, the operating revenue and total profit of non-woven fabric enterprises above designated size increased by 4% and 19.5% respectively year-on-year under the low base effect, but the operating profit margin was only 2.5%. Spunbond and spunlace non-woven fabric enterprises generally reflected that the prices of general products have dropped to the edge of the balance point between profit and loss; There are significant signs of recovery in the rope, cable, and cable industries. The operating income and total profit of enterprises above designated size increased by 14.8% and 90.2% respectively year-on-year, with an operating profit margin of 3.5%, a year-on-year increase of 1.4 percentage points; The operating revenue and total profit of textile belt and curtain fabric enterprises above designated size increased by 8.7% and 21.6% respectively year-on-year, with an operating profit margin of 2.8%, a year-on-year increase of 0.3 percentage points; The operating revenue of enterprises above the scale of awning and canvas increased by 0.2% year-on-year, while the total profit decreased by 3.8% year-on-year, and the operating profit margin maintained a good level of 5.6%; The operating income and total profit of textile enterprises above designated size in other industries such as filtration, protection, and geotechnical textiles increased by 12% and 41.9% respectively year-on-year. The operating profit margin of 6.6% is the highest level in the industry. After significant fluctuations during the epidemic, it has now recovered to pre epidemic levels.
Post time: Sep-11-2024