The overall scale of the textile manufacturing industry maintains steady growth.
1. Scale of textile manufacturing industry
In 2022, the operating income of the textile industry will reach 2.316 billion yuan, a year-on-year decrease of 12.8%. Among them, textile exports performed better from 2019 to 2023, with CAGR=4.8%. After the Sino-US trade friction in 2019 and the global epidemic in 2020, my country's textile industry has continued to recover steadily. In 2023, my country's textile export value will be 955.3 billion yuan, -3% year-on-year.
2. Textile manufacturing end subdivisions
It mainly includes sports shoes and clothing manufacturing, underwear manufacturing, luggage manufacturing, yarn and surface accessories manufacturing, etc.
Sports shoes and clothing manufacturing
In the apparel manufacturing industry, the manufacturing industry of sports shoes and apparel has the attributes of high entry entry, high competition barriers and high profit margins, and the industry structure is relatively concentrated. Leading sports shoes and apparel brand companies have high requirements on suppliers' manufacturing scale, delivery speed, production technology, etc. Especially in recent years, domestic and foreign head sports brands have tended to reduce the number of suppliers, that is, orders have become more concentrated. Therefore, the leading high-quality sports shoes and apparel manufacturers will rely on their advantages in technology and scale to continue to improve their stickiness with their major customers in order to further improve profitability. The main representative companies are Shenzhou International and Huali Group.
Shenzhou International
core advantages
1) Deeply tied to international head customers with high stickiness, core customers with excellent qualifications and large order scale (Shenzhou International is the world's largest ready-to-wear supplier to NikeAdidas, Puma and Uniqlo);
2) The vertically integrated production model effectively reduces costs and improves production efficiency, and the technical barriers to fabric research and development are high;
3) Early deployment of overseas production bases has obvious cost advantages and breaks through pre-constrained production capacity.
- Huali Group
core advantages
1) The customer categories are diverse and the customer structure is high-quality;
2) Strong cost and expense control capabilities, leading industry-leading profit margins;
3) Strong delivery capabilities and efficient management
- Underwear manufacturing
The manufacturing process is complex, the product styles are diverse, and the production technical barriers are high. Due to the limited scale of the underwear brand industry and the relatively dispersed customer structure, the concentration of the underwear manufacturing industry is relatively dispersed. The main representative company is Virginie.
- Virginie
core advantages
1) Master the world's cutting-edge underwear manufacturing technology, with advanced research and development capabilities and high technical barriers. Such as hot press molding and computer mold opening. Core technologies such as seamless bonding;
2) The core customers are top brands in the underwear industry, with high-quality customer resources;
- Luggage manufacturing
my country is the world's largest luggage exporter and manufacturer, providing production and manufacturing for international and domestic luggage brands. Leading luggage brands are generally high-end brands and focus on luxury goods, while domestic brands mainly occupy the mid- to low-end market. Due to the fragmented customer landscape, the luggage manufacturing industry is fragmented. The main representative company is Korrun.
- Korrun Shares
core advantages
1) B2B business: stable growth. In-depth cooperation with old customers increases volume, new customers expand business to bring incremental growth, and overseas production capacity is effectively improved to ensure business expansion;
2) B2C business: developing rapidly. Diversified brand layouts such as "90 Fen" and "Big Mouth Monkey" drive rapid business growth.
- Manufacturing of yarn and surface accessories
Yarn and fabric accessories products mainly include yarn, scrap cloth, buttons, zippers and other categories. Taking zippers as an example, the global TDP1 manufacturing company is YEE, with a high degree of concentration; the world's TOP2 zipper manufacturing company and my country's TOP] zipper manufacturing company is Weixing Co., Ltd., with a low degree of concentration. Since the yarn and fabric accessories industry has many categories and is relatively complex, the degree of concentration is difficult to generalize and requires detailed analysis of specific tracks. The main representative company is Weixing Co., Ltd.
- Weixing Shares
core advantages
1) R&D technology advantages: continue to strengthen R&D and improve its own technical barriers;
2) Manufacturing advantages: deploy overseas production capacity and take advantage of low-cost advantages in Southeast Asia;
3) Advantages of high-quality service: order delivery time is better than that of peers, strong quality control capabilities, and good product quality.
