Higher revenues, but lower profits for Chinese dyeing and printing
Data released by China’s National Bureau of Statistics (NBS) for the 12 months of 2022 suggests that, despite a positive first quarter, dyeing and printing industry output over the period declined by 7.5% year on year (YOY).
Around 55.6 billion metres of fabric was dyed or printed by ‘enterprises above designated size’, a term used in mainland China in reference to state-owned and private industrial enterprises since the 1990s.
From 2011, this has officially included companies with minimum annual revenues of ¥20 million, approximately $2.9 million today.
After the outbreak of war in Ukraine last February, followed by the tightening of wallets in Europe, the United States and elsewhere, not to mention continued covid-related lockdowns in China, growth over subsequent quarters was negative.
Although operating revenue rose by 4.4% YOY, reaching ¥312.5 billion or just below $45 billion, total profits saw a 16.5% decline versus the year previous, achieving ¥13.27 billion ($1.9 billion) overall. NBS added that energy prices had increased by roughly 11.2% YOY, with the cost of raw materials similarly rising by 10.3%.
Industry bodies China Dyeing and Printing Association, China Dyestuff Industry Association and Council for the Promotion of International Trade Shanghai next plan to host annual trade exhibition China Interdye (China International Dye Industry, Pigments and Textile Chemicals) between July 26 and 28 at the Shanghai World Expo Exhibition and Convention Center, located in Pudong.
This summer’s edition will not only mark twenty-two years of the fair, but also the return of China Interdye to the city of Shanghai after last year’s event was instead hosted by nearby Hangzhou.
Visitors to DyStar’s booth during a previous China Interdye. Credit: China Interdye.
