According to the General Administration of Customs statistics, in September China's textile and garment exports 26.20 billion US dollars, down 6.5% year-on-year, continued to narrow 3.7 percentage points from the previous month. Among them, textile exports fell 3.4% year-on-year, the decline is less than the national level of goods trade exports, clothing exports slowed down, down 10% month-on-month, down 8.8% year-on-year. The market is picking up from previous months. The agency said that with the overseas destocking coming to an end and superimposing the fourth quarter sales season, the performance of textile and garment enterprises is expected to improve.
Rising business index
On October 16, Xstep International announced that the company's retail (including online and offline channels) achieved double-digit year-on-year growth in the third quarter, and the channel inventory turnover was four and a half months to five months.
On October 12, Anta Sports announced that in the third quarter, the retail amount of the company's Anta brand products achieved positive growth compared with the same period in 2022; The retail value of FILA branded products recorded a positive growth of 10% to 20% over the same period in 2022, and the retail value of other branded products recorded a positive growth of 45% to 50% over the same period in 2022.
China Textile Industry Federation circulation branch boom monitoring results show that in September, the textile and apparel professional market boom index rose. The national textile and garment professional market managers' climate index was 53.87, up 2.31 percentage points from August; The business climate index of the professional market was 52.67, up 2.37 percentage points from August.
From the export point of view, in the first three quarters of this year, the national textile and apparel exports of 223.15 billion US dollars, down 9.5% (in renminbi terms, down 3.5%). Among them, textile exports were 101.92 billion US dollars, down 10.3% year-on-year (down 4.2% year-on-year in RMB terms); Garment exports were US $121.23 billion, down 8.8% year-on-year (2.8% year-on-year decrease in RMB terms).
Overseas destocking is coming to an end
Industry insiders said that the current overseas destocking progress is good, and the fourth quarter is the industry sales season, the performance of textile and garment enterprises is expected to improve.
Huali Group is engaged in the development, design, production and sales of sports shoes, is the world's leading professional manufacturer of sports shoes, sports and leisure brands including Nike (Nike), Converse (Converse), Vans (Vans), Puma (Puma), Under Armour (Under Armour) and so on. The company said that from the current order situation of the company, many sports brands are nearing the end of inventory, and some brand orders have improved.
Guangfa Securities research report shows that China's textile manufacturing enterprises are mainly export business, in the first three quarters of 2023, in addition to a few sub-industries such as wool textile boom degree is high, other sub-industries are affected by downstream overseas brand customers to reduce orders or delay orders, expected performance pressure. With the smooth removal of overseas brand inventory, the performance of related listed companies is expected to improve.
According to China Merchants Securities research report, in the third quarter of 2023, the demand for clothing markets in Europe and the United States was significantly better than the first half of the year, and the sales performance and progress of clothing brands were good, and it is expected that the rhythm and scale of subsequent orders will gradually recover. Everbright Securities believes that entering the fourth quarter sales season, superimposing the low base in the fourth quarter of last year, the sales growth rate of textile and garment enterprises in the fourth quarter of this year is worth looking forward to.
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