Recently, we went to the company to conduct research and communicated on the development status of the printing and dyeing industry, the results of the company's diversified business development, and the progress of new project construction. The brief statements are as follows.
The printing and dyeing cloth business grew steadily, and the production of weaving fabrics brought benefits. In the first three quarters, the company’s revenue increased by 7.98%. In the printing and dyeing cloth business, the company's business model is mainly the fabric processing by fabric distributors, and the sales of self-developed products account for a very small proportion. Although processing costs are not affected by fluctuations in the prices of grey fabrics, due to the increase in labor costs and prices of printing and dyeing materials this year, the company has made small price increases for products, about 5-10%. In addition, the company's continuous technological transformation has led to an increase in production capacity. In the first three quarters, printing and dyeing cloth revenue increased by more than 10%. In addition, the weaving branch's air-jet looms began to bring profits in March this year. This year's printing and dyeing industry was affected by the weak downstream demand and the overall growth rate was slow. From January to October, the output of printing and dyeing cloth of enterprises above designated size increased by 9.27%. As the industry's leading full-fledged orders, the company still maintains full-load operation. At present, the company's production capacity is over 800 million meters. We expect the project of 72 million meters of printing and dyeing cloths to be added will solve the existing capacity bottleneck after the project is put into operation at the end of the year. At the same time, the elimination of outdated production capacity in the industry also has a long-term positive effect on the company’s increase in market share.
Thermal power, coal-fired, and shipping business integration. The company has a full industrial chain for coal, coal transportation, heating and steam supply, mainly to meet the needs of their own, based on the group's needs for the company's two industrial areas where the company provides services; the same time a small part of self-sufficient electricity. The expansion projects currently under construction include the boiler renovation and the construction of 25,000 tons of cargo ships, of which the new ones are expected to be put into production early next year.
The progress of non-woven fabric expansion projects is slow. In 2010, the company acquired non-woven fabrics under the group and added 10,000 tons of needle punch and spunlace nonwoven fabrics. The company then plans to add 10,000 tons of needle-punched non-woven fabrics. Delayed implementation of the project due to slow progress, but is expected to be put into operation next year. The new project will be the highlight of next year's performance and it is expected to make a greater contribution to the improvement of profits.
The printing and dyeing cloth business grew steadily, and the production of weaving fabrics brought benefits. In the first three quarters, the company’s revenue increased by 7.98%. In the printing and dyeing cloth business, the company's business model is mainly the fabric processing by fabric distributors, and the sales of self-developed products account for a very small proportion. Although processing costs are not affected by fluctuations in the prices of grey fabrics, due to the increase in labor costs and prices of printing and dyeing materials this year, the company has made small price increases for products, about 5-10%. In addition, the company's continuous technological transformation has led to an increase in production capacity. In the first three quarters, printing and dyeing cloth revenue increased by more than 10%. In addition, the weaving branch's air-jet looms began to bring profits in March this year. This year's printing and dyeing industry was affected by the weak downstream demand and the overall growth rate was slow. From January to October, the output of printing and dyeing cloth of enterprises above designated size increased by 9.27%. As the industry's leading full-fledged orders, the company still maintains full-load operation. At present, the company's production capacity is over 800 million meters. We expect the project of 72 million meters of printing and dyeing cloths to be added will solve the existing capacity bottleneck after the project is put into operation at the end of the year. At the same time, the elimination of outdated production capacity in the industry also has a long-term positive effect on the company’s increase in market share.
Thermal power, coal-fired, and shipping business integration. The company has a full industrial chain for coal, coal transportation, heating and steam supply, mainly to meet the needs of their own, based on the group's needs for the company's two industrial areas where the company provides services; the same time a small part of self-sufficient electricity. The expansion projects currently under construction include the boiler renovation and the construction of 25,000 tons of cargo ships, of which the new ones are expected to be put into production early next year.
The progress of non-woven fabric expansion projects is slow. In 2010, the company acquired non-woven fabrics under the group and added 10,000 tons of needle punch and spunlace nonwoven fabrics. The company then plans to add 10,000 tons of needle-punched non-woven fabrics. Delayed implementation of the project due to slow progress, but is expected to be put into operation next year. The new project will be the highlight of next year's performance and it is expected to make a greater contribution to the improvement of profits.