Cotton Yarn Market To Pick Up &Nbsp; Huafang Textile Turning Losses Into Profit

2011/1/8 14:16:00 99

Huafang textile

Today's earnings announcement is expected to be achieved in 2010.

Turn losses into losses

Net profit will reach about 120 million yuan.

According to the announcement, it is estimated that the net profit attributable to the parent company will be positive in 2010, and the net profit will be about 120 million yuan, while the net loss of the company will be about 40 million yuan at the end of 2009.

Company divided

cotton spinning

The main business (cotton yarn, cotton manufacture, sale and storage logistics) also involves new energy sources (lithium iron phosphate power battery and lithium battery electrolyte) and real estate business.

In 2010, the company's performance increased significantly, resulting from a significant increase in the main business performance, while no significant changes were made in other businesses.

The company said that in 2010, the market of main products such as cotton yarn and cotton fabric was warmer, and the production and business were better than expected. The main business has improved significantly over the same period last year.

Especially since the second half of 2010, with the shortage of main raw materials and cotton supply, the bargaining power of the company's cotton yarn products has improved, thereby expanding the profit margins of the company's cotton yarn products.

In addition, the company actively tries to make use of the function of futures market hedging to carry out futures trading of cotton varieties appropriately, and effectively creates value for the company on the basis of company price discovery and raw material demand.