Overview

In January-March, 2017, the textile machinery industry earned prime business revenue of CNY 26.94 billion, up 10.17% year-on-year; the total assets amounted to CNY 95.43 billion, up 5.33%.

In the first quarter of this year, the total costs and expenses of the textile machinery industry increased 8.40% year-on-year to CNY 25.09 billion, in which, the prime business costs amounted to CNY 22.69 billion, up 9.86% year-on-year, accounting for 90.41% of the total costs and expenses; selling expenses stood at CNY 722 million, up 7.04%, accounting for 2.88% of the total costs and expenses; the management expenses amounted to CNY 1.397 billion, down 2.88%; and the financial expenses amounted to CNY 289 million, down 6.22%, accounting for 1.15% of the total.

Profit

In the first three months of this year, the total profits of the textile machinery industry reached near CNY 1.81 billion, up 26.25% year-on-year; the deficit of loss-making enterprises amounted to CNY 211 million, down 16.89%; 18.52% of the enterprises operated in the red.

Import

According to the General Administration of the Customs, in the first quarter of this year, China's import and export of textile machinery totaled near US$ 1.44 billion, up 10.83% year-on-year. The export stood at US$ 652 million, down 2.46% from a year earlier, while the import stood at US$ 786 million, up 24.95% year-on-year.

In January-March of 2017, China imported textile machinery from 48 countries and regions. By product category, spinning machinery ranked the first with the import rising sharply by 50.33% to US$ 181 million, accounting for 23.07% of the total import; among the seven major categories, only nonwoven machinery presented negative growth, while spinning machinery, auxiliary equipment & components, and knitting machinery all registered higher growth than the industry's average. The imported textile machinery came mainly from Germany, Japan, Italy, Belgium and Taiwan. The import from these five major suppliers amounted to US$ 645 million, up 25.75% year-on-year, accounting for 82.01% of the total import.

Export

In January-March of 2017, China's export of textile machinery dropped moderately by 2.46% to US$ 652 million. The export of knitting machinery amounted to US$ 224 million, though dropped by 5.38% from a year earlier, is the bestseller, accounting for 34.28% of the total export. It is followed by auxiliary equipment & components, printing, dyeing & finishing machinery, weaving machinery, spinning machinery, nonwoven machinery and chemical fiber machinery. The export of chemical fiber machinery recorded the biggest decline by 37.54%. In this period, China exported textile machinery to 153 countries and regions. The top five destinations are India, Bangladesh, Vietnam, Pakistan and Indonesia, who accounted for 51.99% of the total export value. The export to India amounted to US$ 126 million, down 16.77% from a year earlier, accounting for 19.26% of the total export.

To sum up, in the first quarter of this year, the textile machinery industry achieved better performance than in the same period of last year, with all major economic indicators increased, the domestic demand picked up, import surged while export dropped moderately.