On Sep. 6, Xinye Textile Co., Ltd. announced that the company intends to invest in the construction of a 22,000-rotor spinning line for developing high-end rotor-spun yarn for knitting production. The investment of the project will total CNY 489.37 million, and the construction period is estimated at 12 months. After the completion, the project is expected to produce 35,000 tons of yarn annually, achieve CNY 600.16 million of sales revenue and CNY 97.31 million of total profits.

Besides that, the company also intends to invest a production line for high-end denim fabric with 41.12 million meters of annual output. The investment of the project will total CNY 524.69 million, and the construction period is estimated at 12 months. After the completion, the project is expected to produce 41.12 meters of high-end denim fabric, achieve CNY 705.72 million of sales income, and generate CNY 90.40 million of total profits.

Source: CHINA TEXTILE LEADER Express