In the first half of the year, the performance increased by more than 3 times Fuchun dyeing and weaving plans to build an intelligent precision spinning project of 2 billion yuan

Reporter Huang Qun

Fuchun Dyeing and Weaving released its first semi-annual report after listing on the evening of August 4, benefiting from the strong demand of downstream hosiery companies, and the company achieved operating income of 925 million yuan in 1-6 months, an increase of 56.48% year-on-year; and achieved a net profit of 103 million yuan - 106 million yuan, an increase of 318.87% year-on-year.

At the same time as the performance growth, Fuchun Dyeing and Weaving has thrown out an investment plan of 2 billion yuan to build an intelligent precision spinning project with a scale of 500,000 spindles and lay out the upstream spinning industry.

"The company's downstream customers are all hosiery companies, and the demand is very large. On the one hand, China's socks industry has formed a dominant position in the international market, and China has become the world's largest sock exporter. On the other hand, the improvement of domestic consumer spending power has changed a lot of dressing habits in the past, and socks will inevitably become the largest consumable in the field of clothing. As the upstream cotton yarn supplier of socks-making enterprises, Fuchun Dyeing and Weaving has broad prospects for development. The relevant person in charge of Fuchun dyeing and weaving said in an exclusive interview with the reporter of Securities Daily.

Give full play to the advantages of warehouse-based production

The printing and dyeing industry is the intermediate link of the textile industry chain, connecting the upstream textile fiber and the downstream textile and clothing industry, and plays an important role in the entire textile industry.

Fuchun Dyeing and Weaving landed on A-shares on May 28, and the prospectus showed that the company's first-quarter performance increased significantly year-on-year. From January to March this year, the company achieved a net profit of 38.8071 million yuan, an increase of 291.57% year-on-year.

According to reports, the pricing model of Fuchun dyeing and weaving yarn products is raw material price + processing fee, and the advantage of this model is that the processing fee is relatively fixed, so the gross profit margin of the product is basically stable. In this regard, Fuchun Dyeing and Weaving said in the semi-annual report that during the reporting period, the domestic epidemic was controlled, the global trade order was gradually restored, the company gave full play to the competitive advantages of warehousing production, environmental protection, etc., the brand effect of scale and products gradually appeared, production and sales increased compared with the same period last year, and the performance grew rapidly.

"China is not only the world's largest consumer of textiles but also the largest producer. Most of the products of domestic yarn enterprises are mainly high-count yarns, and Fuchun dyeing and weaving can achieve 80 or even 100 or 120 pieces. The tube color yarn produced by the company is mainly used for socks, T-shirts and other products. Therefore, the industry prosperity and development prospects of the socks industry will be directly reflected in the field of cylinder yarn printing and dyeing where the company is located. The head of the company said.

According to its introduction, relying on product quality advantages and price advantages, China's socks industry has formed a dominant position in the international market, and China has become the world's largest sock exporter.

It is planned to build an intelligent precision spinning project of 2 billion yuan

"This is one of our main workshops and now the capacity utilization rate has exceeded 100%." The person in charge of the company introduced it to reporters. The reporter saw in the workshop that a number of large dyeing cylinders were constantly spewing steam outwards, and busy workers were throwing piles of tube yarn into the dyeing cylinders.

Raw material procurement and inventory can reflect the industry's cold and warm, Fuchun dyeing and weaving procurement generally follows the principle of "production ordering + reasonable inventory".

"Affected by the rise in cotton prices, the price of cotton yarn in the first half of the year was all the way up, and now it can be said that it is difficult to find a yarn." The above-mentioned person in charge frankly said that the reason for this situation is the rapid development of the epidemic situation abroad, mainly India and Vietnam, which have been affected by the epidemic, and the local production capacity cannot be opened, resulting in a shortage of cotton yarn. According to its introduction, a large number of cotton yarns purchased by Fuchun Dyeing and Weaving are purchased from Pakistan, India, Vietnam, Indonesia and other countries.

According to industry practice, the production and operation of printing and dyeing enterprises must require that there is a certain inventory of raw materials. In the case of Fuchun Dyeing and Weaving, the company needs to guarantee inventory for one to one and a half months in the ordinary market year. "Cotton yarn is particularly tight this year, starting in the second half of last year, our monthly yarn production can reach 5400 tons, which requires 8000 tons of raw material inventory, without which production can not remain stable." At the end of June, our inventory was only more than 3,000 tons, which was close to about 60% of the annual monthly output. The above-mentioned person in charge said.

Two months after the listing, Fuchun Dyeing and Weaving began to plan to launch an intelligent precision spinning project to march into the upstream yarn industry. The company released the feasibility report of the precision spinning project on the evening of August 5, and the intelligent precision spinning production project with a total investment of 2 billion yuan was built with a construction scale of 500,000 spindles and was built in two phases. The first phase of the investment is about 1 billion yuan, and the project construction cycle is expected to be 36 months.

The person in charge of the company told reporters: "After the completion of this project, the strength, wear resistance, gloss and drape of the product are very good, which is the ideal yarn required for the production of high-grade fabrics." In addition, our upstream raw materials are high-grade yarns are guaranteed, and at the same time, they can effectively reduce costs. ”

In addition, Fuchun Dyeing and Weaving has also established an online monitoring system for wastewater, an online monitoring system for boiler flue gas, and networked with environmental protection departments to achieve information management of pollutant emissions. Rainwater and sewage diversion, sewage diversion, cold and hot diversion, the production process of cooling water, condensate recycling and reuse and other measures, the comprehensive water consumption per ton of yarn is lower than the industry standard value, to achieve the full use of water resources.

"Our wastewater meets the discharge standards after passing through the biological treatment sewage facility, and then discharged to the park's sewage treatment plant for centralized treatment. The processes include collection wells, regulation tanks, anaerobic oxidation ditches, primary sedimentation tanks, aerobic oxidation ditches, secondary sedimentation tanks, and efficient inclined plate sedimentation tanks. The person in charge of the company said that the boiler flue gas was discharged after treatment by SNCR denitrification, wet alkali desulfurization, cloth bag dust removal and other processes, and the sewage station odor was discharged after treatment by alkali spraying, UV photolysis and other processes, and the burnt exhaust gas was discharged after treatment by water spraying, filter and other processes.

(Edited by Sun Qian)