Research and Analysis on the operation situation o

2022-08-06
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Research and Analysis on the operation situation of China's sewing industry in 2012

in the first half of 2011, the industry market continued the high-speed growth of "supply exceeds demand" in 2010, showing a good situation of booming production and sales. To a certain extent, the market demand has been quickly met, and the supply-demand relationship of the industry is gradually balanced. However, in the second half of the year, especially after the end of the third quarter, the explosive demand growth gradually came to an end, the domestic and foreign market demand gradually became weak, and the industry supply and demand changed greatly

in the second half of the year, although the production and sales value of China's sewing machinery industry was still growing year-on-year, its growth rate was significantly slower than that of the first half of the year (Figure 1). The average growth rate of monthly output value of 226 sewing machine manufacturers above designated size was at least 10 percentage points lower than that of the previous year, and the monthly growth rate of output was significantly faster than the year-on-year growth of sales. The industry's production and sales rate fell month by month (Figure 2). The market showed a situation of "supply exceeding demand", The inventory of enterprises increased significantly. In addition, according to the statistical data of the association, the accumulated inventory of 105 complete machine enterprises in the industry reached 810000 units in December, a year-on-year increase of 13.65%

looking back on the export situation in 2011, the growth rate of the industry's monthly export volume also showed a trend of "high before low". The average growth rate of the export volume dropped from about 30% in the first half of the year to less than 10% in the second half of the year

from the perspective of enterprise benefits, except for the profit decline in February due to the Spring Festival, 1 and 3 authors: zhushenmin, deputy dean of School of materials science and engineering of Shanghai Jiaotong University, and the profit growth in April was more than 50% year-on-year. However, since May, the total profit of the industry has continued to run at a low level, and began to decline year-on-year in September. In October, the total profit of production enterprises above Designated Size fell to a low value of 38million yuan, a year-on-year decrease of 74.06%

the market is cold inside and hot outside

domestic sales, which have been booming for more than a year, have digested the market demand accumulated during the financial crisis. At the same time, with the end of the replenishment of the international clothing market, this wave of hot sales that is different from the past has finally come to an end. Since March, the downturn in the domestic market has directly led to the decline in industry sales. The average decline in orders of major domestic dealers in the second quarter was more than 40% year-on-year. By the third quarter, the industry production and sales rate had once dropped to 92.6%. At the end of the year, the industry market even showed a sluggish situation in which production exceeded sales

with the weakness of the domestic market, the overseas market, which was neglected due to the slow recovery of industrial capacity in 2010, quickly replaced the domestic market as the main factor to promote industrial growth. According to the data of the National Bureau of statistics, the export volume of 226 sewing machinery manufacturing enterprises above Designated Size in China has increased from 37% at the beginning of the year to 39% at the end of the year, with an increase of 2 percentage points. In addition, according to the data of the General Administration of customs, the export of China's sewing machinery industry remained at a high level throughout the year in 2011. In the 12 months, the accumulated export earned US $2.005 billion, an increase of 24.21%, reaching the highest point in history. Moreover, the overall export price of sewing machinery products showed an increasing trend. Except for embroidery machines, the average export price of other products showed different degrees of growth (chart 3). Among them, the average export price of movable overlock sewing machine increased the fastest, with an increase of 70.49%. (WY)

strong growth of domestic enterprises

among the 226 production enterprises above Designated Size in the industry in 2011, 167 domestic enterprises completed a total industrial output value of 19.62 billion yuan, accounting for 58.66% of the total output value of 226 enterprises, with a year-on-year increase of 26.15%; 32 foreign-invested enterprises completed a total industrial output value of 11.044 billion yuan, accounting for 33.02%, a year-on-year increase of 9.12%; The 27 Hong Kong, Macao and Taiwan invested enterprises completed a total industrial output value of 2.781 billion yuan, accounting for 8.31%. Therefore, China is also the world's largest vanadium consumer, with a year-on-year increase of 3.08%. The total industrial output value of all types of enterprises showed a year-on-year growth trend, but the growth rate of domestic enterprises was significantly higher than that of foreign-funded enterprises and enterprises invested by Hong Kong, Macao and Taiwan, which became the driving force driving the growth of the industry in 2011 (Figure 5)

in addition, from the perspective of benefits, among the three types of enterprises, only the total profits of domestic enterprises showed a year-on-year growth trend, while the profits of foreign-funded enterprises, Hong Kong, Macao and Taiwan enterprises fell sharply year-on-year

increase in product volume and decrease in profit

due to the rapid growth of costs and the increasingly fierce market competition, since the second quarter, the industry's profits have been declining, the overall benefits of the industry have been shrinking, the operating pressure of enterprises has been increasing, the hidden worries of the capital chain have been highlighted, the profit growth of the industry due to structural adjustment has been eroded, and the industry economy has the characteristics of increase in volume and decrease in profit, which has a great impact on the confidence of enterprises in redevelopment and reinvestment

in 2011, the labor cost of China's sewing machine enterprises increased by% on average, the cost of raw materials increased by% on average, and other costs increased by about 10% on average, which directly led to the decline of enterprise profit margin by more than 2%. At the same time, the accumulated appreciation of RMB in the whole year was as high as 4.5%, further weakening the price advantage of product exports

according to the data of the National Bureau of statistics, in 2011, the sales revenue of 226 sewing machine manufacturers above Designated Size in China increased by 19.75% year-on-year, while the total profit and sales profit margin decreased by 1.37% and 17.63% year-on-year respectively; The gross profit margin of the industry was 14.24%, a year-on-year decrease of 2.15%; There were 19 loss making enterprises, an increase of 6 enterprises over the same period of the previous year, with a loss of 140million yuan, a year-on-year increase of 179.13%. The industry's loss scope expanded, the depth of loss deepened, and the profitability of enterprises was worrying (Figure 4)

it is worth noting that the total profits of Zhejiang, Guangdong, Shaanxi, Tianjin and other major production areas of the industry showed a downward trend year-on-year, especially in Guangdong and Tianjin, with a decline of more than 20%. In terms of scale, the total profits of large and small enterprises at the two poles of scale showed an increasing trend year-on-year, while the total profits of medium-sized enterprises showed a sharp decline of more than 30% year-on-year

further optimization of product structure

with the acceleration of industrial upgrading in downstream industries such as clothing, the demand for electromechanical integrated sewing equipment with high efficiency, energy saving and special functions continued to increase. In 2011, among all kinds of sewing machinery products in China, the output growth of computer flat cars, pattern machines and other sewing machines with electronic control devices was significantly higher than the average output growth of the industry, and the process of industrial product structure adjustment was further accelerated (Figure 6)

it is estimated that the proportion of electric control sewing machines in industrial machines has increased from 25% in the same period of last year to 27% in 2011. In particular, the production and sales of electronic controlled high-speed lockstitch sewing machines in the electromechanical integration products have increased dramatically in the year. Their proportion in the output of high-speed lockstitch sewing machines has soared from 36% in the same period of last year to more than 40% in 2011, which has greatly promoted the development process of electromechanical integration in the industry. These high value-added products have gradually become the main products and new profit growth points of enterprises. According to the statistical data of the association, 105 complete machine enterprises in the industry produced nearly 1.4 million sets of electric control sewing machines, a year-on-year increase of 40.20%, far exceeding the average growth rate of about 6.87% of the output of the whole industry

in terms of export data, in 2011, China's export volume of sewing machines increased by 7.59%, and the value increased by 23.56%. The unit price of whole machine export increased by 14.82% over the same period of last year, and the product export structure was further optimized

in terms of enterprise structure adjustment, with the obvious change of the driving factor of the industry's production and sales growth from "domestic sales" to "export sales" in the past two years, China's sewing machine enterprises have further optimized their own market structure to adapt to the continuous development of the industry. In recent industry research, many enterprises that used to focus on domestic sales are gradually expanding the proportion of export sales. The proportion of domestic and foreign sales of SHUNFA, Huibao and other enterprises has reached about 1:1; Some enterprises mainly engaged in export sales are also gradually expanding their domestic sales, gradually balancing their domestic and foreign sales market share, combining the current problems in the utilization of oilfield chemicals and the key amount of technical research, so as to ensure the healthy development of enterprises under different economic situations

resources are concentrated in advantageous enterprises

in 2011, the speed of industry resource integration was further accelerated. Among the 226 production enterprises above Designated Size, the total industrial output value of enterprises of all sizes showed a year-on-year growth trend, but the growth rate of large enterprises was significantly higher than that of medium-sized enterprises and small enterprises. The industry's dominant enterprises were in good development and the industrial concentration increased

taking the data of the top 15 backbone enterprises in the industry as an example, in 2011, the total industrial output value was 8.88 billion yuan, an increase of 23.67% year-on-year; The cumulative sales revenue was 8.95 billion yuan, a year-on-year increase of 18.71%; The total accumulated profit was 530million yuan, a year-on-year increase of 34.59%. The average growth rate of each indicator data is higher than the average growth rate of the industry. The proportion of the total industrial output value of 15 enterprises in the total industrial output value also increased from 14% in 2010 to 15% in 2011. The concentration of industrial output value has increased. Compared with the negative growth of the total industrial profits, the total profits of the 15 enterprises increased significantly year-on-year, and the industrial profits were obviously concentrated in the advantageous enterprises

at the same time, the resource integration and strategic cooperation among enterprises have been accelerating, and the combination of powerful enterprises has accelerated the pace of resource concentration to industry backbone enterprises. Such as heavy machinery and Gaolin, brother and founder, Shanggong and Zoje... After resource integration, these industry backbone enterprises have achieved substantial growth in sales revenue and profits

the prospect of the industry is cold

in 2011, the total assets of China's sewing machinery manufacturing enterprises above designated size increased from 24.6 billion yuan at the beginning of the year to 28.6 billion yuan at the end of the year, but the monthly asset growth rate dropped from 14.65% at the beginning of the year to 10.43% at the end of the year, a decrease of 4 percentage points

from the perspective of industry asset prosperity index (Figure 7), the asset prosperity index of China's sewing machinery industry in 2011 was in a stable development range throughout the year, and the operation of industry assets was relatively stable and basically good

from the perspective of the industry output value prosperity index, in 2011, the industry output value prosperity index of China's sewing machinery industry remained above 110 before May, but since June, the industry output value prosperity index has declined slightly to below 110, hovering around 105, and the industry output value tends to develop steadily

according to the comprehensive prosperity index of the industry (Figure 8 and Figure 9), the prosperity index of China's sewing machinery industry in 2011 showed a downward trend throughout the year, from 130 in January at the beginning of the year to 93.44 in December. At the same time, various economic operation indexes of the industry have also declined to varying degrees. The sales prosperity index and export prosperity index have both dropped to the warning level, while the profit prosperity index has dropped to the low level of 65.24. The development prospect of the industry is "cold"

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