Phoenix Bamboo Textile Revenue In 2018 Exceeded 1 Billion, Only Because The Local Dyeing And Printing Enterprises Updated The Dyeing Machine.

"2018 China's top twenty printing and dyeing enterprises" -- Fujian Feng Zhu textile Polytron Technologies Inc (hereinafter referred to as "Feng Zhu textile") has released its 2018 annual report. The results show that in 2018, the business income of Phoenix Bamboo textile reached 1 billion 4 million yuan, an increase of 22.36% over the same period last year, mainly due to the increase in sales revenue both at home and abroad this year.

The company realized operating profit of RMB 43 million 968 thousand and 300 yuan, an increase of 26.23% over the same period of 34 million 831 thousand and 400 yuan last year, mainly due to the following: first, the sale price of the main products sold at home and abroad increased; two, the efficiency of the machine was raised after the renewal of the dyeing machine, the cost of the ton cloth was reduced and the gross profit rate was raised; the company achieved a net profit of 30 million 603 thousand and 300 yuan, an increase of 23.26% over the same period last year, mainly due to the increase in operating profit.

As of December 31, 2018, the total assets of Phoenix Bamboo textile were 1 billion 372 million yuan, an increase of 26.12% compared with the beginning of the year, and net assets of 719 million yuan, an increase of 3.22% over the beginning of the year.

The increase in net assets is mainly the increase in net profit for the current year.

The annual report shows that the scale of production of textile products such as spinning, weaving, dyeing, dyeing and finishing, printing and so on is 10000 tons, 25000 tons, 6000 tons, 36000 tons and 2400 tons respectively, and the capacity utilization rate is good.

From the point of view of the industry, the revenue of the textile industry increased by 22.28% over last year, mainly due to the growth of domestic and foreign sales revenue this year.

Gross profit margin increased by 1.65 percentage points over the same period last year, mainly due to the increase in the sales price of dyeing and finishing products, and two of the company's updated dyeing machine to raise the efficiency of the machine and reduce the cost of ton cloth.

According to the products,

1) the revenue of spinning products increased by 16.46% over last year, mainly due to the year-on-year increase in production and sales compared with the same period last year. The operating cost increased year by year, but the gross profit rate decreased slightly, but maintained a steady level.

2) yarn dyed products account for a small proportion in the company's sales, small orders, large fluctuations in product mix, although sales revenue has risen, but at the same time business costs also rise.

3) the revenue of dyeing and finishing products increased by 33.88% over last year, mainly for the export of finished products and the increase in export volume this year.

Gross profit margin increased by 3.17 percentage points over last year, mainly due to the increase in the price of export products and the reduction in the cost of ton cloth.

4) the gross profit margin of dyeing and finishing is 6.31 percentage points higher than that of last year. The main reason is that with the tightening of environmental protection policy, the environmental protection advantages of the company are highlighted, the bargaining power of dyeing and finishing is increased, the selling price of processing fees is increased and the cost of ton cloth is reduced.

5) the revenue of printed products increased by 31.61% over last year, mainly due to the increase in export printing products, and the gross profit margin decreased by 5.94 percentage points over the previous year. The main reason is that the cost of export printing products in this year is higher than that of the same period.

From a regional perspective:

Domestic revenue has increased by 21.25% over the same period last year, while foreign revenue has increased by 23.8% over last year. Domestic and foreign revenues have been greatly improved, and gross margins have also increased steadily.

In 2019, Feng Zhu textile will continue to base itself on knitting and dyeing industry, accelerate innovation and upgrading, build a modern new printing and dyeing factory by using intelligent and green technology, upgrade the traditional printing and dyeing industry to a new height, and become the benchmark of printing and dyeing industry. For this reason, the company plans to achieve 1 billion 100 million of its business revenue and 900 million of its operating cost.

It is also known that Feng Zhu textile was incorporated into the Meiling Group in June 2010. In January 2, 2018, it completed the 165.33 Mu related production and operation land reserve in Jinjiang Economic Development Zone, Fujian. With the strong support of the Jinjiang municipal government, all preparatory work for all the preliminary works has been completed.

The total production scale of the new plant is 100 thousand tons of knitted dyed and dyed fabrics per year, 7500 tons of knitted printed fabrics per year, and 3000 tons of cheese yarn per year, with a total investment of about 850 million yuan (adjusted 650 million yuan).

The Licensing companies management is fully responsible for implementing the related projects of the Anton project.

At present, the main structure of the main building of Anton new plant project has been completed in the decoration works, and other related construction work is advancing smoothly. It is expected that workers will be put into production in October 2019.

Public information shows that the main business of Phoenix Textile is production, processing of knitted, woven dyed fabrics, bleaching and dyeing, spinning, dyeing and printing, selling self-produced products, engaging in environmental protection facilities, engaging in import and export business of goods or technologies, etc. the products of the company are mainly divided into three categories: Knitted grey cloth, knitted fabric and cheese yarn.

Phoenix Bamboo textile is located in the middle and high-end products market, the main market and customers are concentrated in Fujian Province, and radiated to the whole country.

The 70-80% of the company's products is exported indirectly to Hong Kong, Taiwan, the Middle East, Europe and the United States and Japan in the form of clothing.

The weaving and dyeing and finishing business of Feng Zhu textile is an intermediate part of the textile industry chain, and ultimately provides knitted dyeing and finishing fabrics for the garment industry (mainly for all kinds of children's wear, sportswear, high-grade T-shirts and underwear manufacturers), because the company is positioned in the high-end products market, mainly based on brand list and middle and high-end school uniform.