I. Overview
In the first half of 2020, the novel coronavirus epidemic had a great impact on the foreign trade export industry. In the context of macroeconomic downturn and declining demand at home and abroad, the company adheres to its own development philosophy and customer-centeredness, and strives to overcome difficulties, resume production, and open up new product areas and sales markets. However, the epidemic situation still has a certain negative impact on the company's production and operation. During the reporting period, the company achieved a total operating income of 2.287 billion yuan, an operating profit of 65.438+0.75 billion yuan, and a net profit attributable to the parent company of 65.438+0.44 billion yuan. The net profit attributable to the parent company after deducting non-recurring gains and losses was 65.438+0.08 billion yuan, which decreased by 28.2 1%, 64.56%, 64.97% and 765.438+0.3 1% respectively compared with the same period of last year.
During the reporting period, the company's main business, main profit sources and composition have not changed. As a dominant enterprise in textile manufacturing industry, the company was rated as "Top Brand Value of Private Enterprises in Shandong Province 100 in 2020" by Shandong Brand Promotion Committee and "High-end Brand Cultivation Enterprise in Manufacturing Industry in Shandong Province" by Shandong Market Supervision Administration. During the reporting period, the company carried out a series of work in new product development, market development and staff quality improvement.
First, actively develop new products, markets and channels.
During the reporting period, the company actively took measures to ensure the normal business of traditional customers, strengthened product development and customer expansion, closely followed the actual needs of customers, and actively responded to the dilemma of business decline with the guidance of "new products and new markets". According to the epidemic situation of major foreign customers, the company has developed and launched a series of protective products to overseas customers, especially to the Japanese market, which has met the requirements of basic protection, environmental protection and reusable products, and has been recognized by the market, and will subsequently launch protective products that meet their needs to relevant countries and markets.
With the development of overseas epidemic situation, its influence on the company's overseas business has gradually emerged. By adjusting its focus, the company's marketing business actively explored potential markets and customers at home and abroad. It successively displayed the new products of the company's fabric exhibition hall on the official account of WeChat Tik Tok, and launched the company's "NARCISU" brand shirt in the "necessary mall".
Customized business and achieved good results.
Second, continue to strengthen product research and development and implement measures to reduce costs and increase efficiency.
During the reporting period, the company organized and implemented 365,438+0 company-level product development projects to promote process upgrading and energy saving and consumption reduction, and at the same time launched customized fabric development business to serve strategic customers and key customers. Focus on research and development of eco-non-ironing fabrics, four-sided elastic fabrics, renewable and degradable fabrics, anti-virus protective fabrics and clothing, and the project is progressing smoothly. During the reporting period, the company was granted 16 patents, and the project "Key Technologies and Industrialization of Textile Fabric Color Digitization" was rated as "New Technology (Achievements) of Textile and Clothing Industry in Shandong Province" by Shandong Provincial Department of Industry and Information Technology.
Third, improve the professional skills of employees and practice their internal strength.
During the reporting period, the company organized all employees to carry out the "100-day training" activity, which was promoted in four stages: mobilization, planning, implementation and assessment, to improve the professional and technical level of all employees in their respective professional fields, and organized the 30th technical competition activity as scheduled. By carrying out the above activities, the enthusiasm of employees to "compete, learn, catch up, help and surpass" has been maintained, and technical and professional abilities have been accumulated for future business.
In the second half of 2020, the company will continue to implement the annual development plan, deepen business changes, and continue to exert its strength in products, channels and markets to explore new opportunities for the company's future development.
Two. Risks faced by the company and countermeasures (1) Impact of economic environment: At present, the uncertainty risks of economic policies, especially trade policies, in major economies around the world are increasing. In the coming year, the impact of the global epidemic will have a great uncertain impact on the company. At the same time, China's economic development is facing downward pressure, and the whole country is still in the recovery period after the epidemic. Therefore, the company will continue to strictly implement epidemic prevention measures, ensure the resumption of work and production, strive to coordinate various resources, take advantage of the crisis opportunity to practice internal strength, and strive to stabilize production and operation while welcoming greater development opportunities after the epidemic. (2) Fluctuation of raw material price: the raw cotton used by the company is mainly long-staple cotton, and its price is affected by many factors such as market supply and demand, climate, policy, exchange rate and quota. Therefore, the company will carefully study the market dynamics and strive to reduce the cost fluctuation caused by the price change of raw cotton. (3) Exchange rate changes: With the operation of the company's overseas production base, a large proportion of the company's sales will still come from the international market in the future, and the US dollar will account for a large proportion of export revenue; At the same time, the main machinery and equipment used by the company and some raw materials are also obtained through imports, and the foreign exchange paid for imports includes US dollars and other non-US dollars. Therefore, the company will remain sensitive to the impact of changes in the exchange rate of the US dollar. In order to reduce the adverse impact of exchange rate fluctuations, the company will take the following measures in due course: First, moderately carry out foreign exchange hedging business, and avoid some risks by using forward foreign exchange settlement and sale, forward foreign exchange trading and option portfolio; Second, reasonable arrangement of settlement term, settlement currency structure and signing of exchange rate locking agreement can avoid exchange rate risk. Third, financial expenses can be controlled by adjusting the structure of local and foreign currency liabilities. Fourth, according to the trend of exchange rate fluctuation, adjust the import proportion of raw materials and auxiliary materials in time to partially hedge the impact of exchange rate fluctuation on the company.