Shandong, The Top 500 Chinese Textile Companies, Signed 300 Thousand Contracts With Jingwei Textile Machinery To Spin Large Contracts.

In May 12th, Jingwei Textile Machinery Limited by Share Ltd, Shandong Dongming county government and Shandong Ming Sheng Textile (Group) Co., Ltd. (hereinafter referred to as "Ming Sheng Textile Group") held the 300 thousand ingot intelligent textile project cooperation promotion conference. At the meeting, the Ming Sheng Textile Group signed the "intelligent Textile Industrial Park project cooperation framework agreement" and the "intelligent textile production" with the county government and Jingwei Textile machinery. The cooperative supplementary agreement of the industrial park project is determined to be jointly funded by three parties, and the intelligent Textile Industrial Park Management Co., Ltd. is planned to be established. The project plans to form 300 thousand spindles intelligent spinning capacity. The first phase 100 thousand spindles spinning project is under construction, and is expected to be put into operation at the end of the year.

First textile network reporter learned that the total investment of 1 billion 200 million yuan of the 300 thousand spindles intelligent spinning project is the first stage project of the 1 million intelligent textile industrial park, and the advanced 100 thousand spindles intelligent spinning project is under construction. It is expected to be put into operation at the end of 2020. The follow-up project will carry out strategic cooperation with China Textile Machinery Group Jingwei Textile Machinery Limited by Share Ltd and so on, and complete the construction of 1 million spindles intelligent spinning industrial park, and build the national key intelligent spinning base.

Earlier in April 14th, Ming Sheng Group signed a cooperation framework agreement with the county government and Jingwei Textile machinery, the "intelligent textile industrial park project cooperation agreement", determined to be jointly funded by three parties, and set up the establishment of intelligent Textile Industrial Park Management Co., Ltd.

It is reported that the 1 million spindles intelligent spinning industrial park of Ming Sheng Textile Group has planned a new project of 300 thousand square meters of new factory building, and more than 2800 sets of intelligent spinning equipment, all of which have reached 130 thousand tons of high-grade combed compact spinning, with an annual sales income of 3 billion 300 million yuan, an increase of 450 million yuan in profits and taxes, and a 2000 job placement.

First textile network reporter learned from public information that the Ming Sheng Textile Group is located in the southwest of Shandong Province, Dongming county. Its predecessor was the original Dongming cotton textile mill. In 1987, it built a factory. The group has 300 thousand spinning production scale, more than 20 thousand tons of cotton yarn per year, and an annual sales income of more than 500 million yuan, with a total assets of 1 billion 400 million yuan and more than 2000 employees. It is a large scale enterprise of the same industry in Heze.

Ming Sheng Textile Group has been appraised as "the top 500 competitive enterprises in China's textile and garment industry" for 7 consecutive years. It has been appraised as "the top 100 competitive enterprises in China's cotton textile industry" for 6 consecutive years. In 2019, it was ranked 75 in the top 100 enterprises in China's cotton textile industry.

Ming Sheng Textile Group said that in the coming period, the group will focus on the development of the chemical industry on the two industrial chain projects of "cotton, spinning deep processing" and "agricultural and sideline products deep processing", and complete the development target of 1 million spindles and 1000 looms during the "13th Five-Year" period.

According to public information, the Jingwei Textile machinery was established by nearly 70 years old original Jingwei Textile Machinery Factory. It belongs to China Heng Tian. It is a member unit of the world's top 500 enterprises. As a technologically advanced supplier of cotton textile whole process and chemical fiber, weaving and twisting equipment, the company has actively promoted the integration of industry and finance while deepening the textile machinery industry. The growth of financial trust business has promoted the development of textile machinery industry. The double main business pattern of "textile machinery + finance" has been formed.

According to the financial report, in 2019, the total income of Jingwei Textile Machinery reached 9 billion 335 million yuan, which was 10 billion 196 million yuan in the same period last year, down 8.44% from the same period last year. Among them, the operating income was 4 billion 687 million yuan, 6 billion 43 million yuan in the same period last year, a decrease of 1 billion 356 million yuan compared with the same period last year (textile machinery business income 4 billion 163 million yuan, a decrease of 334 million yuan compared with the same period last year; financial business revenue 524 million yuan, a decrease of 1 billion 22 million yuan compared with the same period). The company's net profit attributable to its parent company was 490 million yuan, down 267 million yuan from the same period last year. Net cash flow was 16 million yuan, down 4 billion 776 million yuan compared with the same period last year.

During the reporting period, the textile machinery business income of Jingwei Textile Machinery decreased by 334 million yuan, down 7.43%. Among them, the income of cotton spinning machinery was basically the same as that of the same period last year, and the income of chemical fiber machinery and warp knitting machinery decreased slightly compared with the same period last year. The business cost structure of textile machinery did not change significantly compared with 2018, resulting in a decrease in net profit of textile machinery business as a result of reduced operating income.

During the reporting period, the R & D investment of Jingwei Textile machinery was 200 million yuan, mainly including R & D personnel's salary of 102 million yuan, material and testing and testing fees of 43 million 500 thousand yuan, depreciation, amortization and tooling expenses 21 million yuan, entrusted development and international cooperation costs 13 million 900 thousand yuan.

Materials and test fees are mainly used for research and development of intelligent textile machinery equipment, and take the Ministry of industry, Yu Da Hua project, the Ministry of science and Technology Robotics project and the national machinery major project as the starting point. The standard international advanced standards are adopted to create the "intelligent textile factory", which is the highlight of the whole process automated logistics delivery system, the flower collection and packet system, and the quality traceability system. With 15 workers, the production efficiency is improved and the operation cost is reduced.

Depreciation, amortization and tooling cost are mainly used for the research and development of the conventional intelligent spinning machine equipment and the intelligent construction of production. In some "main parts" experiments, the intelligent manufacturing unit is built, and the automatic processing line of the main box of the winder is completed.

Commissioned development and international cooperation costs are mainly used to speed up core technology, common technology and key technology research and development, and have completed the project of "high quality and high yield blowing carding system" and "new high-speed intelligent spinning frame".

In 2019, Jingwei Textile machinery continued to carry out "fitness thin body" and optimize personnel structure. After leaving the post, the number of employees decreased by 6.9%. Although the R & D personnel decline is higher than the company's average, but in order to focus on the high-speed, continuous, digital and intelligent research and development of spinning equipment, the company still increases R & D investment. Considering that the R & D input and benefit output are not corresponding to the reporting period, the proportion of R & D investment and operating revenue in the reporting period has changed.

The latest financial report shows that in the first quarter of 2020, Jingwei Textile Machinery achieved a total revenue of 662 million yuan, down 60.33% from the same period last year, achieving a net profit of 51 million 340 thousand and 400 yuan attributable to the parent company, a decrease of 7 billion 180 million yuan compared with the same period last year.