Xinye Textile: Special yarn project will be put into production by the end of the year

Business News on October 10

A staff member of the Securities Department of Xinye Textile (002087.SZ) told the Great Wisdom News Agency on Wednesday that the infrastructure construction of the company’s special yarn project has been completed, and the machines are being installed and debugged for trial production. It is expected to be put into production by the end of the year and is expected to reach the scheduled revenue value starting next year.

Last year, the company began to invest in the construction of a special spinning production line with a capacity of 140,000 spindles to produce special yarn products such as siro spinning, combed yarn, and elastic core-spun yarn. After the project is completed, it is expected to produce approximately 32,000 tons of various yarns annually, with an average annual sales revenue of 975.28 million yuan and a total profit of 80.12 million yuan.

The above-mentioned staff said that the infrastructure construction of the project has been completed and the machines are still being debugged, and they strive to be put into production before the end of the year. “Because it takes time to run in, the benefits will not be visible this year. The expected benefits should be almost achieved next year.”

An analyst from a securities firm said that after the project is put into production, it will become a new profit growth point for the company. According to the company’s plan, after the project is completed, more than 50% of the special yarn products will be directly exported, and about 40% will be exported after the company produces high-end fabrics, which will help improve the company’s product quality and high added value.

The semi-annual report shows that the company’s high-grade combed yarn accounts for more than 85%, and siro spinning, compact spinning, and elastic yarn account for more than 60%. R&D expenses increased significantly in the first half of the year to more than 20 million yuan.

(Source of article: Great Wisdom News Agency)

AAE4T45UY75T

Disclaimer:

Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights, please contact us and we will change or delete it as soon as possible.