How Difficult Is It For Textile Enterprises To Be Short Of Money?

Since the beginning of this year, many enterprises have suffered from difficulties in capital turnover. Interest rate increase order spin Enterprises, etc capital Demander's financing The cost has further increased, and the reserve ratio has also been raised several times, which has significantly shrunk the position of commercial banks, and the textile enterprises have reached the point of being short of funds.

Recently, Hebei, Jiangsu Shanxi Textile enterprises in other places have reported that the shortage of funds has made it more difficult for enterprises to survive, and the phenomenon of "passive default" caused by tighter monetary policy has frequently occurred recently; The complex economic situation in Europe and the United States has reduced the proportion of China's textile and clothing products exported, and the "export to domestic sales" may further intensify the cost war and price war in the domestic market.

　　 Increase acceptance discount rate, "discount" profit

According to a cotton textile enterprise in Handan, Hebei, the enterprise has long relied on the old relationship to place orders to maintain production. Due to mutual trust, each time payment is made after delivery. In the first half of this year, there was still a certain amount of cash payment. In the second half of this year, there would be only acceptance bills, and there was no guarantee of full payment. Manager Wang of the enterprise said: "It is not easy for enterprises to get the acceptance bill now. In order to maintain production, enterprises must retain a certain number of employees, so they have to discount 8% in exchange for cash. Last year, the discount was only 5%. It can be said that 8% discount is the beginning of enterprise losses, and now the enterprise profits are only 3%. Even so, we are still willing to take various measures to get the acceptance bill. In addition, even if the acceptance bill is paid to the bank when it is due, the bank will refuse to pay even if it is unclear about the official seal on the endorsement. For this reason, the enterprise must contact the other party to issue a certificate, and it will take at least one week to go back and forth. "

The acceptance bill has been used in China for about 20 years. It is understood that it was a kind of bill that appeared to solve the triangle debt at that time, and the bank realized it in three months, half a year or even one year. Today, enterprises have no choice but to use acceptance bills.

　 Extensive expansion causes financial difficulties

A textile industry person in Jiangsu, who did not want to be named, said that the capital chain of the largest chemical fiber manufacturer in Jiangsu was broken due to excessive expansion and rising operating costs. Although the person in charge of the company confidently said that there would be no financial crisis, some textile enterprises were worried about the company's prospects, saying that if the national austerity policy continues, the company will not survive sooner or later. In the face of these doubts, the person in charge of the company said that the company has a good momentum of development. Although the macroeconomic situation is not good, there is no such serious problem as capital chain rupture.

According to the president of a bank branch in Changshu, since the local entrepreneurs engaged in the textile industry have long-term experience and experienced several adjustments in the industry, it is unlikely that large-scale bankruptcy will occur. From the perspective of bank loans, loans still maintained growth, but slowed down compared with last year, which restricted the development of the textile industry, but only for enterprises with expansion intentions. {page_break}

A well-known weaving company in Shandong, which has always relied on orders to do business, has a slightly better living condition. The person in charge of the company said that at present, depending on stable customers and prudent business philosophy, its profit margin can still be maintained at about 5%. According to reports, the company expanded its production capacity last year, investing 60 million yuan to purchase 1000 looms, which put some pressure on the company's capital turnover. It is understood that the company has hired a domestic investment bank to carry out shareholding system reform for the company in order to ease the pressure on capital and prepare to go public for direct financing within the year.

High interest borrowing costs increase

In Zhejiang, another area where the textile industry is concentrated, most enterprises have experienced the most difficult year ever. The region has always been known for its dynamic economy, but the current capital problem has plagued the entire textile industry.

"We didn't have such a hard time during the financial crisis." The general manager of a local textile machine company said that in the past two years, the salary of ordinary employees has increased from 2600 yuan to 3700 yuan, and the salary increase of employees of the entire enterprise is expected to be close to 20%. The price of textile machinery products did not rise this year. Although the company increased the research and development and production of new products, the orders in the second half of the year were still more than 1/3 lower than that of last year. In the second half of the year, there was almost no outsourcing processing order that accounted for a large part of the company's business. He said that there were few new customers in the orders in the second half of the year, and the orders were mainly concentrated on the old customers. The market demand decreased or did not increase. In addition, due to the depressed market environment, new customers are prone to risk. Last year, because the textile industry had a good year, most of the profits of user enterprises increased significantly. This year, under the condition of tight money supply, some enterprises started private lending in order to overcome difficulties, and the interest rate of private lending increased month by month, which undoubtedly increased the business risk of enterprises. At present, in some areas of Zhejiang, the interest on some loans has reached 13%, and some companies have borrowed 1.5 million yuan, but only 1 million yuan has been obtained. If this situation is not solved as soon as possible, it will inevitably cause serious social problems.

Gu, a professor of the Institute of Industry and Economics of the Academy of Social Sciences, believes that the most obvious manifestation of various adverse factors is the difficulty in financing. The preference for public banks over private banks is particularly evident this year, with only about 10% of SMEs being able to obtain loans from the formal banking system. At present, the annual interest rate of private lending is as high as 120%. Even so, private financing is still in short supply.

"Private lending is lack of supervision, the interest rate is high, and the pressure on SMEs to repay the principal and interest is huge, which has hidden a huge debt risk," said Professor Gu.