Currently, the textile industry has a funny phenomenon, meet to talk about the weather , the first greeting : diverse yet ? Do like?

    After 30 years of development, the domestic textile industry has started to become lethargic pace , " sunset industry " is heard. In fact , the whole textile industry growth rate from over 30% in the past fell to single digits , according to the National Bureau of Statistics data released yesterday , in 2013 the textile sector grew by only 8.7%.

   In order to seek new business growth and further expand the Group's scale , a large number of textile companies began to get involved in other activities outside of the main industry , which is the so-called diversification.

   According to the " First Financial Daily" reporters to incomplete statistics, more than 40 A -share listed in the textile industry , there are 23 other areas in addition to entering the textile business, and basically concentrated in real estate, the three new energy and investment business large fields. Not only that, there are two large textile enterprises last year, also borrowed shell , Fujian, spinning (600483.SH) became the main business of electricity , Chinese clothing (000902.SZ) is turning to sell fertilizers.

   On the other hand , there are still some ways diversified textile company is taken around the main business start up just downstream expansion. With the recovery of textile exports, these seemingly conservative roots in the main industry companies are releasing previously accumulated energy.

Keen to real estate , the Nuggets new energy

   Compare the gross profit margin related industries , textile enterprises may be able to diversify Why keen to give birth to the most intuitive understanding.

   Data from Business intelligence network show in 2013 from January to September , China above-scale textile industry sales gross margin was 10.82% . Almost at the same time , the average gross margin of 104 real estate companies in the country was 36.7 %, while the photovoltaic industry is in a healthy state when almost no profit margin of less than 20% , leading companies such as GCL (03800.HK) PV gross margin was over 44 %.

    Then Huafang Textile (600273.SH) , for example, its gross profit margin in the first half of 2013 was only 3.68% of the textile industry , and wastewater treatment and battery manufacturing and other " sideline " of this value were 67.60% and 16.47% .

    Investment Advisor Consultant Cui Yu told the " First Financial Daily" , after 2005 , China's textile industry has already started down, sluggish sales and profits getting thin. In order to resist the textile impact of the market downturn , many companies choose to diversify seek to add new profit point , in order to improve the ability to resist risks .

   " High gain new energy , real estate , chemicals, finance and other fields is preferred many textile enterprises ." Forward first textile web editor Wang told reporters .

   But it is worth noting that the textile industry is labor-intensive industries to enter the technology , personnel -intensive emerging industry needs transformation process is not too short , and one risk is not self-evident.

   In recent years , there have been a lot of carry over photovoltaic, chemical, investment and other "low correlation " textile enterprises and businesses opted out , trial and error, the high cost of some companies even staggering .

   Cui Yu said , diversified domestic textile enterprises in the textile industry generally and the fit is not high , but when other areas of the textile industry started his less relevant experience , risk exposure is relatively large , " when companies choose a new business You can cut that can produce multi- market synergies . " Cui Yu said.

Main industry is still the center

    In the eyes of the more conservative business to another part of the unfolding around the main business diversification may be the most " reliable " in .

    Yarn-dyed domestic leading enterprises Lu Thai Textile Co., Ltd. (000726.SZ, hereinafter referred to as " Lutai A") is one of them.

    This pure cotton shirt fabrics for the main business of the company, in recent years, and constantly develop new products, while fabrics positive downstream, upstream up holding subsidiary Xinjiang Lutai into cotton cultivation , the downstream entity also created the brand " LTGRFF "( Lutai · Ge Leifen ) , has entered into a number of large stores .

    Will run through the cotton planting , spinning , dyeing , weaving, finishing and garment industry chain and other areas in hand, after the annual compound growth rate was Lutai A listing of over 32% . With the possible arrival of the textile export inflection point, is also optimistic about its prospects for many institutional investors.


    CICC analyst Guo Haiyan , said China's textile industry Lutai A "hidden champions ", " focus on high-end shirt fabrics industry , extending from top to bottom , has mastered the core values , the core of an international big brand suppliers ."

    In addition, Bank of cashmere industry (000982.SZ), Linda Silk (002404.SZ) and many other companies are also seize their own unique market segments, the expansion of product lines, extend the industrial chain big fuss , Adversity and has achieved some success.

    A senior industry professionals to the "First Financial Daily" respect, textile enterprises in carrying out diversified businesses must follow the " do what " principle , "Do not look at what the rush to make money on the hot-headed manner , it is best to select and basic industries concerned ; followed by the relevant resources , but not as long as the overall restructuring, the most fundamental thing to do strong core business . "

Source: First Financial Daily ( Shanghai )
Bundy line , Bondi yarn, cursory line - issued by Xu Sheng finishing line industry