An explosive news about a leading textile company came into view.
According to Dahe Financial Cube Morning News, a subsidiary of Dahe News, Xinye Textile was listed as the person subject to execution by the Xinye County People’s Court due to a labor dispute, and the execution target was 223,400 yuan.
Public information shows that Xinye Textile is a national large-scale textile backbone enterprise, with 520 key enterprises nationwide and 50 product structures in Henan Province One of the key enterprises for optimization, it passed ISO9002 quality system certification in 2001. The company has 5 production branches, and two-thirds of the key textile equipment is imported from Germany, Japan, Italy and other countries. It has fixed assets of 1.36 billion yuan and currently has 9,035 employees.
The company mainly produces and operates pure cotton yarn, polyester-cotton yarn, thread, cloth, yarn-dyed fabric, towels, bed sheets and other products, with an annual output of 70,000 tons of yarn and 120 million tons of cloth. rice, the products are sold domestically in more than 20 provinces and cities including Guangdong, Fujian, Shandong, and Shanghai, and exported to 12 countries and regions including the United States, Hong Kong, and South Korea. The company actively participates in international market competition, actively develops foreign trade business, expands import and export trade volume, and lays a solid foundation for enterprises to enter the international market.
Xinye Textile disclosed its annual report on April 22, 2021. The company achieved total operating income of 4.87 billion in 2020, a year-on-year decrease of 1.51 billion %, the decline was larger than that of the same period last year; the net profit attributable to the parent company was 170 million, a year-on-year decrease of 38.4%, and the decline was larger than that of the same period last year; earnings per share was 0.21 yuan. During the reporting period, the company’s gross profit margin was 15%, a decrease of 4.6 percentage points year-on-year, and the net profit margin was 3.5%, a decrease of 1.4 percentage points year-on-year.
The company’s operating costs in 2020 were 4.14 billion, a year-on-year decrease of 10.2%, lower than the 15.1% decline in operating income, and the gross profit margin down 4.6%. The expense ratio during the period was 10.2%, a decrease of 1.4% from last year. Operating cash flow dropped from 1.11 billion to -130 million, a year-on-year decrease of 111.3%.
Also. Xinye Textile released a first-quarter performance announcement on the evening of April 29, stating that revenue in the first quarter of 2021 was approximately 1.340 billion yuan, a year-on-year increase of 26.54%; net profit was approximately 33.07 million yuan, a year-on-year decrease of 47.75%; basic earnings per share was 0.0405 yuan , a year-on-year decrease of 47.74%.
Judging from the above performance announcement, Xinye Textile’s net profit is declining. Regarding the recent incident where Xinye Textile was listed as a person subject to execution by the court due to a labor dispute, if there are any new We will continue to make progress. </p
