Flame retardant fabric_Flame retardant fabric_Cotton flame retardant fabric_Flame retardant fabric information platform Flame-retardant Fabric News Counter-cyclical expansion, the chemical fiber leader extends the integrated industrial chain by tens of billions! “Chinese supply chain” is moving towards “world supply chain”. Will Myanmar become another textile center?

Counter-cyclical expansion, the chemical fiber leader extends the integrated industrial chain by tens of billions! “Chinese supply chain” is moving towards “world supply chain”. Will Myanmar become another textile center?

-01- Xinfengming raised another 1 billion, Lay out an integrated industrial chain! On March 8, Xinfengming announced that the company plans to issue shares to specific targets to r…


Xinfengming raised another 1 billion,

Lay out an integrated industrial chain!

On March 8, Xinfengming announced that the company plans to issue shares to specific targets to raise a total of no more than 1 billion yuan, which will be used entirely for the PTA project with an annual output of 5.4 million tons after deducting issuance expenses.

Xin Fengming said that the investment projects raised this time will focus on the company’s main business, which is in line with relevant industrial policies and the company’s overall strategic development direction in the future, and will help the company further expand its business and consolidate and improve its competitive advantages.

A reporter from Yangtze Business Daily’s Bentium News noted that as of the end of 2021, Xinfengming’s 5 million tons of PTA has reached full production capacity. If the above-mentioned 5.4 million tons annual PTA project is successfully completed and reaches capacity, the production capacity will be doubled.

It is reported that in 2020, 2021 and January-September 2022, Xinfengming’s external procurement of PTA quantities was 2.5541 million tons, 621,000 tons and 411,300 tons respectively, and there is still a PTA production capacity gap. In addition, as the company’s polyester filament and polyester staple fiber projects gradually reach production and production capacity gradually increases, the demand for PTA will increase accordingly.

Xinfengming believes that further improving PTA supply capacity is of great significance to ensuring the stable production of downstream polyester filament and polyester staple fiber, and will help the company’s development strategy steadily advance. It is expected that the new production capacity of the raised investment project can be reasonably digested.

A reporter from the Changjiang Business Daily noticed that Xinfengming has raised funds several times to expand its production since its listing in 2017. With the addition of this 1 billion fundraising, the total amount raised has reached nearly 10 billion, which is basically used for its main business. Carry out construction.

Specifically, in 2017, Xinfengming entered the A-share market through an IPO, raising 2.062 billion yuan in its initial offering; in April 2018, Xinfengming raised 2.153 billion yuan through the issuance of convertible bonds; in December 2019, Xinfengming’s first private placement after listing successfully raised 2.217 billion yuan; in 2021, Xinfengming once again issued convertible corporate bonds with a scale of 2.5 billion yuan.

Public information shows that Xinfengming was formerly known as Tongxiang Zhongheng Chemical Fiber Co., Ltd., which was established in February 2000 and listed on the Shanghai Stock Exchange in 2017. Xinfengming is one of the leading enterprises in the national chemical fiber industry and has formed an integrated and large-scale business structure of the “PTA-polyester-spinning-texturing” industrial chain. The company’s main products include various types of civilian polyester filaments and polyester staple fibers, with a relatively rich product line.

After several expansions, the company’s production capacity has been further expanded. According to the 2022 semi-annual report, by the end of the reporting period, the company had a civilian polyester filament production capacity of 6.3 million tons and a polyester short fiber production capacity of 600,000 tons. In terms of annual output of polyester filament, the company ranks among the top three in the domestic civilian polyester filament industry. It is expected that by the end of 2022, the company will have a polyester filament production capacity of 6.6 million tons and a polyester short fiber production capacity of 1.2 million tons.

According to the announcement on February 27, Xinfengming’s wholly-owned subsidiary Zhonglei Chemical Fiber invested and constructed a 300,000-ton super-simulation differentiated fiber project, and its wholly-owned subsidiary Jiangsu Xintuo invested and constructed a 360,000-ton low-carbon and environmentally friendly fiber project. The new material intelligent manufacturing project was officially put into production on February 26, 2023.

At present, the company is making every effort to build an integrated industrial scale advantage, focusing on horizontal and vertical development, supplemented by a full range of auxiliary materials. A research report from Changjiang Securities shows that as industry leaders gradually promote integrated layout, competition in the polyester filament industry will shift from a single product to the entire industry chain. The integrated leader will have obvious cost advantages and be more resistant to cyclical fluctuation risks, which will further increase its market share.

However, due to rising costs and insufficient downstream demand, Xinfengming increased revenue but did not increase profits. As of the third quarter of 2022, the company’s total operating income was 37.943 billion yuan, a year-on-year increase of 3.76%, and the net profit attributable to the parent company was 284 million yuan, a year-on-year decrease of 85.32%.


Jiangsu Cathay Pacific,

Consider Myanmar’s textile industry base!

Jiangsu Cathay’s 2022 annual performance report shows that the company achieved total operating income of 42,978,689,967.76 yuan, a year-on-year increase of 9.10%, operating profit of 3,330,333,380.57 yuan, a year-on-year increase of 43.99%, and net profit attributable to shareholders of listed companies of 1,650,406,404.19 yuan, a year-on-year increase of 33.51%.

Jiangsu Cathay insists on unwavering in its main business of import and export, actively improves the level of supply bases, accelerates the implementation of overseas layout strategies, seizes development opportunities, continues to deploy multiple supply bases such as Myanmar, Vietnam, Cambodia, Bangladesh, and Egypt, and continues to promote the company from ” China’s supply chain integration” is changing to “world supply chain integration”. The company continues to focus on Southeast Asia and further expands the construction of overseas production bases. The production and exports of overseas production bases have steadily increased.

Supply chain services adhere to the service model of “trade, industry and technology”. The trade channels cover many countries and regions around the world. It has design centers in major markets such as Europe and the United States, and has a proofing center with strong technical strength in China. Many companies Through self-construction and cooperation, the holding subsidiaries have established multiple supply bases in both international and domestic markets, covering key provinces such as Jiangsu, Anhui, Henan, Shandong, Jiangxi, and Zhejiang, as well as Myanmar, Vietnam, Cambodia, Bangladesh, and Egypt.�� and other countries, gradually realizing global supply and procurement.

In terms of supply chain services, the company mainly focuses on the import and export trade of consumer goods, facing both international and domestic markets, focusing on consumer goods, and is committed to providing one-stop value-added services throughout the supply chain; in terms of chemical new energy business, its holding subsidiary Jiangsu Ruitai New As the development platform of the company’s new chemical materials and new energy business, Energy Materials Co., Ltd. is mainly engaged in the research, development, production and sales of lithium-ion battery materials and new chemical materials such as organic silicon.

The latest progress of the company’s convertible corporate bond-raised project “Myanmar Textile Industry Base Construction Project”. As the domestic situation in Myanmar remains complicated, resulting in certain uncertainties in its domestic political economy, the company will continue to pay close attention to the progress of the situation in Myanmar and proceed with the project prudently.

In terms of supply chain service business, it mainly faces external market risks, overseas trade policy and barrier risks, raw material price fluctuation risks, and exchange rate fluctuation risks.

In the face of various risk factors, we will take various measures to actively deal with it, such as establishing a special research department, strengthening product research and development, improving product grade and service quality, and combining the company’s trade advantages with Southeast Asia’s cost advantages to reduce costs and enhance customer stickiness, strengthen competitive advantages, and enhance the company’s overall ability to resist risks.

Comprehensive overview:

Oil prices fell for three consecutive days, and yesterday’s polyester filament factory production and sales data continued to fall. Polyester filament is expected to continue its sideways trend today. Pay attention to changes in raw materials and factory production and sales data.

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Author: clsrich