1. In early June, the national cotton industry inventory usage was about 42 days
A sample survey of the National Cotton Market Monitoring System showed that as of early June, the average cotton inventory usage of the sampled companies The number of days is approximately 42 days (including the quantity of cotton imported into Hong Kong), which is a decrease of 2.2 days month-on-month and an increase of 4.6 days year-on-year. The national cotton industry inventory is estimated to be approximately 954,000 tons, a month-on-month decrease of 5.0% and a year-on-year increase of 32.3% (see table and figure 1). The cotton industry inventory situation in major provinces across the country is different. The cotton industry inventory discount days in Fujian, Hebei, and Xinjiang provinces are relatively high (Figure 2).
2. The willingness to purchase raw materials decreased month-on-month and the intention to allocate cotton was stable
The purchasing intention survey showed that in early June, 58.2% of the companies were prepared to purchase cotton, a decrease of 11.4 percentage points month-on-month and a year-on-year decrease of 6.7 percentage points; 38.8% held a wait-and-see attitude, a decrease of 11.4 percentage points month-on-month. An increase of 12.7 percentage points, a year-on-year increase of 7.6 percentage points; companies that do not plan to purchase cotton accounted for 3%, a month-on-month decrease of 1.4 percentage points, and a year-on-year decrease of 0.9 percentage points (Figure 3).
In early June, 95.7% of the sampled companies planned to stabilize the cotton allocation ratio, a month-on-month decrease of 1.4 percentage points and a year-on-year increase of 0.8 percentage points; 1.4% of companies planned to stabilize the cotton allocation ratio. Increasing the cotton allocation ratio remained the same month-on-month and increased by 0.2 percentage points year-on-year; 2.9% of companies planned to reduce the cotton allocation ratio, increasing by 1.4 percentage points month-on-month and decreasing by 1.0 percentage points year-on-year (Figure 4).
3. Improvement of corporate capital turnover
Funds turnover survey shows At the beginning of June, 54.4% of the companies had good capital turnover, an increase of 3.0 percentage points from the previous month and an increase of 3.8 percentage points year-on-year; 36.8% had poor capital turnover, a decrease of 1.8 percentage points from the previous month and an increase of 1.7 percentage points year-on-year; those with serious lack of funds Accounting for 8.8%, a month-on-month decrease of 1.2 percentage points and a year-on-year decrease of 5.5 percentage points (Figure 5).
At the beginning of June, 65.2% of the sampled enterprises had normal employment conditions, a month-on-month decrease of 0.5 percentage points and a year-on-year decrease of 1.0 percentage points; 29% of the enterprises had normal employment conditions. The gap increased by 1.8 percentage points month-on-month and 0.4 percentage points year-on-year; 5.8% of enterprises were seriously short of workers, a month-on-month decrease of 1.3 percentage points and a year-on-year increase of 0.6 percentage points (Figure 6).
Four. The business operating rate dropped slightly month-on-month
In early June, The operating rate of the sampled enterprises was 93%, a decrease of 0.6 percentage points from the previous month.
5. Yarn and cloth production and sales rate decreased and product inventory increased
Yarn production and sales rate was 95% , a month-on-month decrease of 1.4 percentage points, a year-on-year increase of 9.6 percentage points, and a decrease of 1.4 percentage points from the average level of the same period in the past three years (2017-2019); inventory is 11.8 days of sales, a month-on-month increase of 0.3 days, a year-on-year decrease of 17.5 days, and a year-on-year decrease of 17.5 days. The average level during the same period in the three years (2017-2019) decreased by 8.0 days (Figure 7 and Figure 8). The production and sales rate of cloth is 85%, a month-on-month decrease of 0.4 percentage points, a year-on-year decrease of 0.3 percentage points, and a decrease of 10.2 percentage points compared with the average level of the same period in the past three years (2017-2019); the inventory is 38.6 days of sales, a month-on-month increase of 0.9 days, It decreased by 7.4 days year-on-year and 4.4 days less than the average level of the same period in the past three years (2017-2019) (Figure 7 and Figure 9).
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