Huafu Color Spinning Semi Annual Net Profit 142 Million Cotton Purchase And Storage To Help The Development Of The Company

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The weave of the net introduces the Huafu color spinning semi annual net profit of 142 million cotton purchase and storage to help the company develop.

Hua Fu color spinning (002042) recently announced the first half of 2014 earnings report, the company achieved operating income of 3 billion 647 million yuan, an increase of 10.07% over the same period, net profit of 142 million yuan, an increase of 22.63% over the same period.

But more than half of Huafu color spinning comes from government subsidies, and the policy gains achieved in the first half of this year amounted to 84 million 450 thousand yuan.

Huafu color spinning said that the textile and garment industry is still in a deep-seated structural adjustment characterized by two levels of differentiation. During the reporting period, the company took the initiative to grasp the changing trend of raw materials, expand the proportion of imported cotton and non cotton raw materials, and curb the adverse impact of cotton difference on the company's operation at home and abroad.

During the reporting period, the company's color spinning products increased by more than 30%, the market share ranked first, while effectively controlling the risk of accounts receivable, and continue to maintain "0 bad debts".

The financial statements show that government subsidies are in

In the first half of this year, the company achieved a profit of 84 million 450 thousand yuan.

Huafu color spinning believes that the central Xinjiang policy and the westward strategy will have a long-term and positive effect on the company. The company will further implement preferential policies, especially the Xinjiang policy.

Huafu color spinning is Xinjiang's largest investment in mainland textile enterprises, has enjoyed a series of preferential policies of the national, autonomous region and Xinjiang Construction Corps.

Recently, the state abolished the temporary purchase and storage policy and replaced it with cotton direct subsidy. The market generally believed that it would have a huge impact on the entire industrial chain.

Huafu color spinning expresses this, the national direct subsidy.

It will make the price of cotton more globalized, which will benefit from the global sourcing of superior resources and enhance export competitiveness.