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The Decline In Cash Flow Reflects The Continuing Downturn In Clothing Consumption.

2013/9/4 8:59:00 32

Apparel Industry Clothing Inventory Clothing Consumption

the last two years, the inventory of a target= "_blank" href= "//www.sjfzxm.com/" > clothing /a > has been criticized. Last year, it was because of the rapid growth of inventory. The market was pessimistic about the growth expectation of a href= "//www.sjfzxm.com" > clothing company "/a". In the first half of this year, it remained unchanged, with inventory of 45 billion 100 million yuan, an increase of 2.27% over the same period last year. If we exclude YOUNGOR (quotes, inquiring) (YOUNGOR's inventory of 23 billion 667 million yuan in the year, the vast majority of land), an increase of 5.57% over the same period. Although the a target= "_blank" href= "//www.sjfzxm.com/" > clothing "/a" (quotes) and "a" href= "//www.sjfzxm.com/news/index_c.asp" > Semir clothing "/a" (quotes, interrogation) inventory decline, but the Pathfinder (quotes), 100 yuan trousers industry, fuanna (market inquiry), Saturday (quotes, inquiring) and other 27 companies increased year by year, accounting for 73%. This also shows that many companies' inventory clearance efforts have not been effective. In the overall downturn of consumption, it is not easy to go inventory. 
 many listed companies are preparing for the stock price drop. Seven wolves (quotes, interrogation) inventory in the first half of 2013 was 662 million yuan, the provision for inventory depreciation was 201 million yuan, and the reported birds were 963 million yuan in the first half of 2013. The company's provision for inventory depreciation was 97 million 164 thousand and 100 yuan. 
 relative to inventory, the cash flow index of operating activities is even more difficult. The 37 companies listed below a href= "//www.sjfzxm.com/news/" > clothing < /a > achieved a total net operating cash inflow of 2 billion 320 million yuan, down 36% from the same period last year. The decline is more obvious in the news birds, search for special (quotes, interrogation), China Group (quotes, interrogation), Pathfinder and so on. In the first half of last year, the cash flow of net cash inflow was 99 million 820 thousand yuan, and the net outflow was 303 million yuan in the middle of this year. However, Semir clothing has greatly changed from a net outflow of 111 million yuan to a net inflow of 478 million yuan. Last year, 15 companies operating cash flow negative, this year increased to 17. 
 37 apparel listed companies achieved net profit of 3 billion 994 million yuan in the first half of the year, down 3% from the same period last year, with only 2 losses. Taking into account the first half operating income of 49 billion 838 million yuan, an increase of 11% over the same period, we can see that the profitability of clothing listed companies is still declining. If the reference of operating cash flow is much lower than net profit, we can see that the quality of related enterprises' net profit is not high. 
 from the perspective of the turnover of listed companies, the consumption downturn is still going on. From the perspective of inventory and cash flow, it is still necessary for apparel listed companies to stabilize and stabilize.