Textile Industry’s Financial Condition in Jan. ~ Aug. 2013

By CnAgri2013-10-29 11:34:01 Print The textile industry’s assets registered RMB3.683 trillion at the end of Aug., of which RMB2.08 trillion were liquid assets, 4.59% and 5.3% of the nation’s industrial total respectively. The textile industry’s debt ratio was 56.96%, below the nation’s industrial average of 58.56%.
 
The textile industry’s revenue from kernel business was RMB3.906 trillion, its profit RMB179.79 billion and its tax payment RMB101 billion in Jan. ~ Aug., accounting for 6.06%, 5.16% and 3.74% of the nation’s industrial total respectively.
 
The textile industry’s liquid asset turnover and total asset turnover were 1.88 times and 1.06 times respectively in Jan. ~ Aug., more than the nation’s industrial average of 1.64 times and 0.8 times respectively. The textile industry’s ratio of profit + tax against assets was 7.62%, below the nation’s average of 7.71%. Its profit ratio was 4.6%, just 85.15% of the nation’s average.
 
The cost of the textile industry’s kernel business was RMB5.771 trillion in Jan. ~ Aug., 8.95% of the nation’s industrial total. The textile industry spent RMB234.98 billion on sales, management and financial management, 5.2% of the nation’s industrial total. The textile industry’s bank loan interest expense was RMB42.25 trillion, 5.88% of the nation’s industrial total.
 
The textile industry attained a profit of RMB25.1 billion in Aug., suggesting a profit ratio of 4.75%, below the nation’s industrial average of 8.05%.

From “China Cotton Bi-Weekly Market Report”