Tianshan Textile earned 26 million last year

Recently, Tianshan Textile released its 2013 financial report. The company achieved revenue of 569 million yuan last year, an increase of 88.27% year-on-year; net profit of 77.955 million yuan, of which the net profit attributable to shareholders of listed companies was 26.2565 million yuan. In 2012, Tianshan Textile lost 9.479 million yuan, and the company was able to turn losses into profits, mainly benefiting from the newly-added subsidiary Xituo Mining.

In October last year, Tianshan Textile completed a major asset restructuring and acquired a 75% stake in Xituo Mining. The increase in sales of copper ore ore not only offset the decline in the performance of the textile business, but also enabled the company's main business income to achieve a positive growth of 90.04%. .

According to the annual report, in 2013, Tianshan Textile obtained revenue of 209 million yuan from the wool textile business, which was a decrease of 16.08% from the 250 million of the previous year, while the mining sector recorded a revenue of 350 million yuan, a year-on-year increase of 682.79%.

Although Tianshan Textile has reduced production by more than 10% in yarns and shirts than in 2012, due to poor sales conditions, stocks have been increasing, and yarn sales have fallen by nearly 50% year-on-year.

Tianshan Textile stated that in 2013, the import volume of the three major textile and apparel import markets in the United States, Europe, and Japan continued to decline. In particular, the import of textiles and clothing in the euro zone and Japan continued to weaken, while the predicament of rising domestic costs and insufficient market demand caused foreign trade has always been foreign trade. The export-oriented wool textile industry is facing a severe situation.

In 2013, the production costs of the textile industry were high and domestic and international demand was weak. According to data from the National Bureau of Statistics, the value added of the textile industry in 2013 only increased by 8.7% year-on-year. Huafang Textile, a large-scale enterprise, suffered a loss of 32.51 million last year, and Jilin Chemical Fiber's net profit fell by 4066.04%, with a loss of 394 million yuan.

In order to seek new business growth points, textile companies have opened up their sidelines. West Extension Mining acquired by Tianshan Textile currently owns 70.24 square kilometers of exploration rights and is mainly engaged in the selection and sale of copper concentrates and zinc concentrates. Xinjiang is rich in mineral resources and has great potential for prospecting. Tianshan Textile stated that it will actively acquire prospecting rights and expand the mining industry. Currently, the brands owned by Tianshan Textile include “Tianshan”, “gts” and “ss”. The company said in its annual report that it will increase the promotion of its own brand in 2014, shifting from a production-processing-oriented model to a brand-based model focusing on brands and channel operations.