管理层讨论及分析
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資料來源 ： 中國紡織工業協會
年報 2 0 0 5
天 虹 紡 織 集 團 有限公司
Management Discussion & Analysis
12
While the international trading environment proved unfavorable to the export of textile products in China in 2005, demand from domestic market in China has grown substantially as a result of the continual economic growth of China. As shown in the above table, the sales value of China textile industry in 2005 is estimated to reach RMB2,000 billion, representing a 27.2% growth as compared to 2004, which is higher than the growth of the export of China textile and apparel of 20.6%. More importantly, the persistent increase in the consumption power of residents in China contributed to the increasing demand for higher quality textile products. High value-added textile materials designed to enhance the quality and value of textile products are instrumental in satisfying the market demand for quality textile products. In addition, overseas manufacturers of branded apparel flocking to establish plants in China or outsourcing production to the PRC enterprises also helps spurring the market demand for high value-added upstream textile products. The burgeoning market environment has provided impetus for upstream textile sector. Following the signing of the textile agreements between China and the US/EU governments in 2005, it is believed that the textile industry in China will be relatively more stable in 2006 to 2008. However, potential threats arising from trade protectionism and international trade disputes on textile and garment products are likely to continue and may impact on textile industry in China in the near future. Textile and garment enterprises with lower competitiveness will be posed with mounting challenges. Such development trend will expedite the consolidation process of the fragmented textile industry in China and create attractive merger and acquisition opportunities for larger scaled textile manufacturers with higher competitiveness. BUSINESS REVIEW The Group is one of the world’s largest suppliers of corespun cotton textile products, engaging in the sales of yarn, grey fabrics and garment fabrics with focuses on manufacturing high value-added core-spun yarn.
年
複
合
增
長
率
G CA
R=
25
.7
%
2,000
RMB Bn
2,000
年 複 合
增
長
率
CA
GR
=2
% 0.8
USD Bn
117.5
120
1,572.3 1,600 80.5
97.4
1,266.2 80 1,200
800 40 400
0
2003 2004 2005 2003 2004 2005
0
Source: China National Textile Industry Conuncil
Yarn (ton) Grey fabrics (million meters) Garment fabrics (million meters) The Group’s yarn and grey fabrics were sold to over 17 provinces and cities in China, including Jiangsu Province, Zhejiang Province, Guangdong Province, Shandong Province and Shanghai. While garment fabrics was exported to numerous regions such as Europe, North America, South Korea, Hong Kong, Bangladesh, etc. The Group’s sales in each market recorded significant growth in 2005, in which sales revenue of China market posted a year-on-year growth of 34.1% to RMB1,718.4 million and export sales amounted to RMB197.5 million, representing a 46.8% growth from last year. In February 2005, the Group leased a plant with five factories in Xuzhou, Jiangsu Province from Jiangsu Yinyu Sanlian Group Limited at an annual rent of RMB3.96 million, adding 87,000 spindles and 84 shuttleless looms for the Group. The plant commenced operations in April, soon after the upgrade of production facilities. At the same time, the Group expanded the production facilities of Xuzhou Texhong Yinfeng Textile Co., Ltd. by adding 12,600 spindles for manufacturing core-spun cotton yarn, which have been put into production in March 2005. Furthermore, in March 2005, the Group commenced construction of its new plant with 100,000 spindles in Suining County, Xuzhou, Jiangsu Province. Equipping with machineries and production facilities, the new plant has gradually commenced production since December 2005.
市場回顧
隨著出口配額制度於二零零五年一月一日廢 除 ， 中國紡織品出口數量於二零零五年第一季 大大提升 。 出口銷售額突然急升成為海外紡織 ， 尤其美國及歐盟紡織業界關注的問題 ， 彼等向 其政府施壓 ， 要求對某些中國紡織品實施特別 保護政策 。 一連串紡織貿易糾紛 、 歐盟及美國對 中國出口紡織品及成衣產品實施特別保護政策 及重施配額制度使中國紡織企業的出口市場存 在種種不明朗因素 。 中國紡織企業於回顧年度 面對困難及複雜的市場環境 ， 直至美國與中國 政府於二零零五年十一月八日簽訂紡織品協議 方有改善 。
20,000 20.6%
27.2%
/
TEXHONG TEXTILE GROUP LIMITED
ANNUAL REPORT 2005
Management Discussion & Analysis
13
The Group’s “quick – response” flexible operation strategy and high quality products have further gained recognition and orders from customers in 2005 and sales have increased substantially. Sales Volume 2005 2004 Growth
Management Discussion & Analysis 管理層討論及分析
11
MARKET REVIEW Following the abolition of the export quota system on 1 January 2005, exports of textile products in China increased significantly in the first quarter of 2005. The sudden surge in the export sales had become a major concern to overseas textile enterprises, in particular, the US and the EU textile sectors, which pressured their governments to implement special protection policies against some of the textile products in China. A series of textile trade disputes, implementation of special protection measures and the reimposition of quota system on the export of textile and garment products in China by EU and the US spelled uncertainties for the export markets of textile enterprises in China. PRC textile enterprises confronted a difficult and complicated market environment in the year under review until the signing of the textile agreement between the US and China governments on 8 November 2005.
wk.baidu.com
MARKET STATISTICS OF CHINA TEXTILE INDUSTRY 中國紡織工業的市場數據
中國紡織業銷售總值 Sales Value of China Textile Industry
人民幣 十億
中國紡織服裝出口 China Textile Apparel Export
美元 十億
年報 2 0 0 5
天 虹 紡 織 集 團 有限公司
Management Discussion & Analysis
12
While the international trading environment proved unfavorable to the export of textile products in China in 2005, demand from domestic market in China has grown substantially as a result of the continual economic growth of China. As shown in the above table, the sales value of China textile industry in 2005 is estimated to reach RMB2,000 billion, representing a 27.2% growth as compared to 2004, which is higher than the growth of the export of China textile and apparel of 20.6%. More importantly, the persistent increase in the consumption power of residents in China contributed to the increasing demand for higher quality textile products. High value-added textile materials designed to enhance the quality and value of textile products are instrumental in satisfying the market demand for quality textile products. In addition, overseas manufacturers of branded apparel flocking to establish plants in China or outsourcing production to the PRC enterprises also helps spurring the market demand for high value-added upstream textile products. The burgeoning market environment has provided impetus for upstream textile sector. Following the signing of the textile agreements between China and the US/EU governments in 2005, it is believed that the textile industry in China will be relatively more stable in 2006 to 2008. However, potential threats arising from trade protectionism and international trade disputes on textile and garment products are likely to continue and may impact on textile industry in China in the near future. Textile and garment enterprises with lower competitiveness will be posed with mounting challenges. Such development trend will expedite the consolidation process of the fragmented textile industry in China and create attractive merger and acquisition opportunities for larger scaled textile manufacturers with higher competitiveness. BUSINESS REVIEW The Group is one of the world’s largest suppliers of corespun cotton textile products, engaging in the sales of yarn, grey fabrics and garment fabrics with focuses on manufacturing high value-added core-spun yarn.
年
複
合
增
長
率
G CA
R=
25
.7
%
2,000
RMB Bn
2,000
年 複 合
增
長
率
CA
GR
=2
% 0.8
USD Bn
117.5
120
1,572.3 1,600 80.5
97.4
1,266.2 80 1,200
800 40 400
0
2003 2004 2005 2003 2004 2005
0
Source: China National Textile Industry Conuncil
Yarn (ton) Grey fabrics (million meters) Garment fabrics (million meters) The Group’s yarn and grey fabrics were sold to over 17 provinces and cities in China, including Jiangsu Province, Zhejiang Province, Guangdong Province, Shandong Province and Shanghai. While garment fabrics was exported to numerous regions such as Europe, North America, South Korea, Hong Kong, Bangladesh, etc. The Group’s sales in each market recorded significant growth in 2005, in which sales revenue of China market posted a year-on-year growth of 34.1% to RMB1,718.4 million and export sales amounted to RMB197.5 million, representing a 46.8% growth from last year. In February 2005, the Group leased a plant with five factories in Xuzhou, Jiangsu Province from Jiangsu Yinyu Sanlian Group Limited at an annual rent of RMB3.96 million, adding 87,000 spindles and 84 shuttleless looms for the Group. The plant commenced operations in April, soon after the upgrade of production facilities. At the same time, the Group expanded the production facilities of Xuzhou Texhong Yinfeng Textile Co., Ltd. by adding 12,600 spindles for manufacturing core-spun cotton yarn, which have been put into production in March 2005. Furthermore, in March 2005, the Group commenced construction of its new plant with 100,000 spindles in Suining County, Xuzhou, Jiangsu Province. Equipping with machineries and production facilities, the new plant has gradually commenced production since December 2005.
市場回顧
隨著出口配額制度於二零零五年一月一日廢 除 ， 中國紡織品出口數量於二零零五年第一季 大大提升 。 出口銷售額突然急升成為海外紡織 ， 尤其美國及歐盟紡織業界關注的問題 ， 彼等向 其政府施壓 ， 要求對某些中國紡織品實施特別 保護政策 。 一連串紡織貿易糾紛 、 歐盟及美國對 中國出口紡織品及成衣產品實施特別保護政策 及重施配額制度使中國紡織企業的出口市場存 在種種不明朗因素 。 中國紡織企業於回顧年度 面對困難及複雜的市場環境 ， 直至美國與中國 政府於二零零五年十一月八日簽訂紡織品協議 方有改善 。
20,000 20.6%
27.2%
/
TEXHONG TEXTILE GROUP LIMITED
ANNUAL REPORT 2005
Management Discussion & Analysis
13
The Group’s “quick – response” flexible operation strategy and high quality products have further gained recognition and orders from customers in 2005 and sales have increased substantially. Sales Volume 2005 2004 Growth
Management Discussion & Analysis 管理層討論及分析
11
MARKET REVIEW Following the abolition of the export quota system on 1 January 2005, exports of textile products in China increased significantly in the first quarter of 2005. The sudden surge in the export sales had become a major concern to overseas textile enterprises, in particular, the US and the EU textile sectors, which pressured their governments to implement special protection policies against some of the textile products in China. A series of textile trade disputes, implementation of special protection measures and the reimposition of quota system on the export of textile and garment products in China by EU and the US spelled uncertainties for the export markets of textile enterprises in China. PRC textile enterprises confronted a difficult and complicated market environment in the year under review until the signing of the textile agreement between the US and China governments on 8 November 2005.
wk.baidu.com
MARKET STATISTICS OF CHINA TEXTILE INDUSTRY 中國紡織工業的市場數據
中國紡織業銷售總值 Sales Value of China Textile Industry
人民幣 十億
中國紡織服裝出口 China Textile Apparel Export
美元 十億