Brief analysis of the economic operation of the printing and dyeing industry in the first quarter of 2022

In the first quarter of 2022, China's printing and dyeing industry is facing a more complex and severe development environment. On the international front, the global epidemic is still spreading, the escalation of the Russia-Ukraine conflict is intensifying, the normal operation of the global industry chain supply chain is obstructed, the major developed economies tighten their monetary policies, and the external risks continue to increase; on the domestic front, the epidemic is emitted frequently in many provinces and cities, and some enterprises implement measures to stop and reduce production to cope with the epidemic, coupled with factors such as continuous high fluctuations in raw material prices, restricted logistics and transportation, and weakened terminal consumption, the industry The economic operation in general presents a "stable under pressure" development trend.

1, production to maintain a modest growth, production growth rate has slowed down

According to the data of National Bureau of Statistics, in the first quarter of 2022, the output of printing and dyeing fabric of enterprises above the scale of the printing and dyeing industry was 12.175 billion meters, an increase of 1.93% year-on-year, with a growth rate of 4.01 percentage points lower than that of January to February. In the first quarter, China's epidemic showed a multi-point epidemic situation, Zhejiang Hangzhou, Shaoxing, Jiangsu Suzhou, Shandong Binzhou, Fujian Jinjiang and other printing and dyeing enterprises concentrated areas appear epidemic, printing and dyeing enterprises production and operation was affected to a certain extent. Under the influence of the epidemic, residents' travel and consumption activities were inhibited, and people's willingness to consume optional consumer goods of textiles and garments weakened. Data from the National Bureau of Statistics showed that the retail sales of clothing, footwear, needlework and textiles in the first quarter decreased by 0.9% year-on-year, with the growth rate dropping by 55.1 percentage points compared with the same period of the previous year, and the domestic market experienced the first decline since 2021. In the first quarter, the overseas market demand is basically stable, the domestic market is generally weak, combined with a high base of the same period last year, the printing and dyeing cloth production growth rate showed a slowdown.

2, the export situation is good, exports to achieve faster growth

According to China Customs statistics, in the first quarter of 2022, the number of exports of eight major products of printing and dyeing 7.176 billion meters, an increase of 14.10% year-on-year, the growth rate of 7.23 percentage points higher than in January to February; export value of $ 7.681 billion, an increase of 24.89% year-on-year, the growth rate of 5.63 percentage points higher than in January to February; the average export unit price of $ 1.07 / m, an increase of 9.46%, the growth of export unit price on the growth of enterprise profits is obvious. The supply chain of the textile industry chain in Southeast Asia is gradually recovering, and some countries have increased demand for our fabrics. At the same time, with Europe and the United States and other major consumer areas of clothing and apparel gradually cancel the epidemic prevention and control measures, the end consumption demand continues to rebound, China's indirect exports of printing and dyeing products to maintain growth. 1 ~ March, China's total exports of clothing and clothing accessories 35.685 billion U.S. dollars, an increase of 7.4%, including March clothing exports of 10.22 billion U.S. dollars, an increase of 10.9%; cumulative exports of home Textiles 10.677 billion U.S. dollars, an increase of 10.09% year-on-year, and export unit price increased by 7.78% year-on-year.

Table 1 The first quarter of 2022 printing and dyeing eight major products exports

3, running quality repair tends to slow down, production and marketing efficiency decline

According to the data of National Bureau of Statistics, in the first quarter of 2022, the ratio of three fees of above-scale printing and dyeing enterprises was 7.08%, lower by 0.61 percentage points year-on-year, among which, 6.87% for cotton printing and dyeing enterprises and 8.56% for chemical fiber printing and dyeing enterprises; turnover rate of finished products was 16.64 times/year, lower by 3.22% year-on-year; turnover rate of accounts receivable was 8.83 times/year, higher by 7.74% year-on-year. Total assets turnover rate of 0.97 times/year, an increase of 8.70% year-on-year. Compared with January to February, the growth rate of turnover of finished goods fell by 7.06 percentage points in the first quarter, and the growth rate of accounts receivable turnover and total assets turnover slowed down, mainly due to the severe domestic epidemic situation since March, the strengthening of local epidemic control measures, and the poor operation of the supply chain of the industry due to transportation and logistics restrictions.

4, the development of benefits overall to the good, the growth rate is facing a slowdown in pressure

According to the National Bureau of Statistics data, in the first quarter of 2022, above-scale printing and dyeing enterprises operating income of 67.806 billion yuan, up 16.86%, down 2.03 percentage points from January to February; total profit of 1.991 billion yuan, up 43.28%, down 8.20 percentage points from January to February; cost profit margin of 3.08%, up 0.51 The number of 1,677 printing and dyeing enterprises above the size of the loss of 651 households, loss of 38.82%, a small narrowing of 0.18 percentage points; total losses of enterprises 1.028 billion yuan, an increase of 6.50%. In the first quarter, the overall stability of the order quantity of printing and dyeing enterprises, the basic good start, in the context of Southeast Asian countries to China's printing and dyeing fabric demand increased significantly, the main economic indicators of enterprises to achieve a higher rate of growth, but also faced with the pressure of slowing down the growth rate.

Table 3 Main economic indicators of above-scale printing and dyeing enterprises in the first quarter of 2022

From the overall situation in the first quarter, China's printing and dyeing industry export performance is good, the domestic market demand is generally weak. In the second quarter, affected by the frequent outbreak of epidemic in April and May and the epidemic prevention and control policy, the domestic market demand continues to weaken, the stable development of the industry still faces more constraints, and the economic operation faces greater pressure. With the epidemic gradually under control, the production and operation of enterprises will gradually get into the right track, domestic consumption market will also usher in a rebound, in the country's loose monetary policy and stabilize foreign trade to promote consumption, increase support for the real economy and a series of measures to help enterprises to alleviate difficulties, the printing and dyeing industry operation will gradually stabilize.