Jingwei group is widely acknowledged as the leading textile machinery domestically with over fifty years of textile machinery manufacturing history encapsulating a streamlining textile machinery and accessory R&D, manufacture and sale. Influenced by the economic crisis and shrinking market demand, Jingwei group faces huge loss in the first half year according to its financial report unveiled on August 20th. Overall revenue in the first half year reaches up to 1.27 billion RMB, down by 41.45%, total net profit income reaches close up to -100 million RMB which is a huge loss to the company. Overall textile industry output value and sales income of textile machinery sector in 2009 indicated an unprecedented negative growth since 2008. Jingwei is taking dozens of measures such as reinforce new product innovation and R&D, adjust its current product structure trying to peddle over this special period.

Source: China Textile Leader