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The chemical fiber industry has gradually entered a trough.

Tianxiang investment consulting energy and infrastructure group

the chemical fiber industry is currently at a cyclical trough. Among the 25 listed companies in the industry, 15 had negative net profit growth in the first half of 2008. Compared with the grand occasion that the annual net profit growth of 2007hf:650 ℃/16h/ac exceeded 100% and reached 11 companies, the industry is no longer prosperous

due to the appreciation of RMB, the reduction of export tax rebates, the increase of labor costs and other factors, the downstream textile enterprises are facing many difficulties, resulting in the reduction of the enterprise's purchase of raw materials, the price of viscose and spandex peaking and falling, while the decline of cotton pulp, MDI and other chemical fiber raw materials also makes the price of viscose, spandex and other products lose support. To survive and develop in this environment, enterprises must increase the development of new products and improve the added value of their products. Differentiation is the way to survive. In 2008, some anti-bacterial, flame-retardant and differentiated fibers with superior performance over ordinary fibers were still welcomed by the market. Those companies with leading technology, high product differentiation rate and relatively complete industrial chain will be able to take the lead in the market competition

the performance of listed companies decreased significantly year-on-year. In the first half of 2008, the listed companies in the chemical fiber sector achieved a total operating income of 28.7 billion yuan (excluding st and new shares this year). The tear test of the electronic universal testing machine was to calculate the tear strength value, with a year-on-year increase of 0.2%; The total profit was 820million yuan, a year-on-year decrease of 49.14%; The net profit was 482million yuan, a year-on-year decrease of 66.04%. There were 25 listed companies in the sector. In the first half of the year, there were 7 loss making companies, accounting for 28% of the total number of companies. There were 2 loss making companies in the same period of last year. Some listed companies in the viscose industry, such as Jilin chemical fiber, Hubei Jinhuan, Xinxiang Chemical fiber, etc., which had a large growth in the same period of last year, suffered losses in the first half of the year

the price of polyester raw materials was stable, and the price of viscose raw materials increased significantly. From the perspective of capacity structure, polyester accounts for more than 80% of the total chemical fiber capacity. Polyester raw materials are mainly downstream polyester products of petrochemical industry. Due to the excess capacity of polyester products, its price has not risen with the sharp rise of crude oil price, and the price fluctuates slightly at about 11000 yuan/ton. As a chemical auxiliary material used in the production of viscose, the price of sulfuric acid and other products rose sharply (sulfuric acid rose 240% year-on-year), and the profit space of the viscose industry was greatly squeezed, and the profit growth of relevant companies slowed down or even suffered losses

in the month of 2008, China's total export value of textile and clothing was 106 The insufficient oil in the tank can also make the pressure tonnage unable to rise, which is also a problem that users do not pay attention to. At this time, filling up the tanker with oil can reach US $2.9 billion, with a growth rate of the previous year's low. The weakness of downstream demand led to the continuous decline in the prices of chemical fiber related products, and the profit space of enterprises narrowed. After the boom market in the early stage, the chemical fiber industry has entered a cyclical adjustment period, and the profitability of products has declined

although the downstream enterprises are facing the adjustment of the industries they serve mainly include automobile, electronics and electrical, construction, sports and leisure, we should see that those textile and garment enterprises with brand advantages are still developing rapidly, and they will be more demanding on the texture of raw materials. Only chemical fiber enterprises with high product quality can win the market. It is suggested to pay attention to companies with complete industrial chain, high product added value and strong market development ability, such as Shanxi 3D, Yunwei Co., Ltd., Shandong Hailong, hailide, Yantai spandex and Huafeng spandex

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