Xinye Textile: Strengthening and expanding the main business to create A-share yarn leading enterprises

CSI News (Reporter Jiang Yiling) Recently, the board of directors of Xinye Textile passed a resolution to invest in the construction of air spinning project in the Alashankou Free Trade Zone in Xinjiang. The total investment of the project is 489.37 million yuan, of which self-raised funds are 189.37 million yuan and bank loans are 300 million yuan. The total production capacity of the project is 22,000 air spinning spinning production lines. The construction period is 12 months. After completion, it will have 35,000 tons of annual spinning capacity, accounting for 21% of the company's yarn production in 2016. According to the company's calculation, the project can achieve an annual sales income of 600 million yuan and a total profit of 97 million yuan.

The Board also passed a resolution to build high-end denim fabric items in the new field headquarters. The total investment of the project is 524.69 million yuan, of which self-raised funds are 164.69 million yuan and bank loans are 360 ​​million yuan. The total production capacity of the project is 41.12 million meters of high-grade denim fabric, and the construction period is 12 months. The company's 16-year fabric production includes 143.5 million meters of grey fabric and 6.95 million meters of dyed fabric. The project will enrich the company's fabric products category. According to the company's calculation, the project can realize an annual sales income of 710 million yuan and a total profit of 90 million yuan.

The company is currently under construction projects include Jin Xinjiang region 100 000 and 5000 cast rotor spinning project, the new field headquarters 120 000 Smart spinning project, as well as knitted fabrics wild new project headquarters. Among them, the Xinjiang Jinyu project has been gradually put into production, and the two projects of the Xinye headquarters are in the construction period. The two newly added projects are expected to be put into production by the end of 2018 according to the construction period. The continuous launch of new capacity will drive rapid growth of the company's performance

From January to September 2017, the company achieved operating income of 3.826 billion yuan, a year-on-year increase of 30.7%. Among them, revenue in the third quarter was 1.242 billion yuan, a year-on-year increase of 12.7%. From January to September, the net profit attributable to the mother was 237 million yuan, a year-on-year increase of 69.1%. Among them, the net profit of returning to the mother in the third quarter was 100.2 million yuan, a year-on-year increase of 38.2%. The company expects the return range of net profit in 2017 to be 29,043,200 yuan to 331,192,300 yuan, an increase of +40.0% to +60.0%.

At present, the company's Alashankou Comprehensive Bonded Zone project is progressing smoothly. According to the investment agreement signed by the company and the Alashankou Comprehensive Bonded Zone Management Committee in October, the company's new project can enjoy the special preferential policies of the bonded zone in addition to the general preferential policies of Xinjiang textile enterprises. , especially in terms of import of cotton, in the case of cotton inside and outside the stage to expand the spread of major significance to the company's earnings growth.

Also since August 18, 2017, the Zhengzhou Commodity Exchange, cotton futures traded. After the cotton yarn futures market, the cotton yarn enterprises will be provided with cotton yarn price guidance as far as one year later, which will help the company to judge the future market trend and improve the ability to adjust the production capacity. At the same time, the company will only deliver the two cotton yarn futures factories as the A-share market. The unit is expected to make good arrangements in advance for cotton yarn futures and derivatives, win market opportunities and improve company performance.