China’s major cotton corduroy base for an annual output of 80,000,000 meters and finishing

the United States in 2008 as a result of sharp drop in October-December sales, while lower prices, lower profits, resulting in the company revised expected loss of about 08 annual net profit of 56 million yuan. U.S.(002034:5.07, +0.16, ↑ 3.26%) 2009 on 9 years 1 day notice, as amended, 08 the annual net profit is expected to about 56 million yuan loss, the amendment before the expected annual net loss of 08 million 3200-3600. Changes in the performance of reasons: the financial impact of the tsunami strongly than expected on the foreign markets had a dramatic impact, resulting in a decline in customer capacity to pay, order to reduce the 10-December sales plummeted at the same time, market competition intensifies, leading to a decline in product prices, lower profits; a result of pre-orders to reduce and higher stock prices of raw materials caused by certain costs. The same period last year net profit: 2,280.92 million.

Company is China’s major bases and finishing cotton corduroy, with an annual output of 80 million meters of various types of printing and dyeing cloth production capacity, all kinds of printing and dyeing cotton cloth production of nearly 60 million meters in China’s cotton corduroy enterprises, Company sales revenues and exports were ranked first. About 50 percent but the company’s products are for export, due to the impact of financial crisis on a larger negative impact on the performance of the company, resulting in the company expected 2008 loss of 56 million yuan.

the United States in 2008 January-September earnings per share -0.30 yuan, 5.20 yuan per share, net assets, net capital gains rate of -5.71%, operating income 924,856,100 yuan, up 29.51 percent; -2409.36 million net profit, up from surplus to deficit. Revenue increase over the same period 210,730,000 yuan, mainly in October last year to acquire Jingzhou Aoda Textile Co., Ltd. due to increase in the scope of the merger; the Company’s operating costs, compared with 222.93 million yuan increase over the same period the previous year, mainly to increase the scope of the merger 185,880,000 million, as well as energy driving force, resulting in rising labor costs attributable to the increase in manufacturing costs; gross profit margin was 7.65 percent, 11.62 percent over the same period fell by 3.97 percentage points, mainly artificial, steam and other manufacturing costs and the appreciation of the renminbi-denominated export income has shrunk by letter.

National Bureau of Statistics data show that in 2008 over January-November-scale textile enterprises realized a total profit of 104.2 billion yuan, up 1.77 percent decline in growth rate over the same period in 2007 dropped 38.76 percentage points. In which a loss of loss-making enterprises amounted to 22.75 billion yuan, an increase of 99.85 percent. Molecular industry, the first 11 months of the completion of the textile industry profits 67.5 billion yuan, an increase of 9.28 percent, over the same period the growth rate dropped 21.99 percentage points; clothing, hats, footwear industry completed a profit of 31.7 billion dollars, an increase of 13.02 percent, the growth rate dropped 14.1 percentage points; chemical fiber industry completed 3.402 billion yuan of profits, up 74.89 percent decline, year-on-year growth rate fell sharply 184.16 points.

Ministry of Finance announced that from November 1, 2008 onwards, due in part to increase the labor-intensive, high-tech and high value-added export tax rebate rate. Some textiles, clothing, toys export tax rebate rate to 14%; daily-use ceramic arts and the export tax rebate rate to 11%; part of plastic products export tax rebate rate to 9%; part of the furniture export tax rebate rates were raised to 11 percent and 13 %. The export tax rebate adjustment involves a total of 3486 products, accounting for all the customs tariff of 25.8 percent the total number of goods. One of the tax rebate rate and clothing increase by 1% decline in external demand, rising costs situation, raise the tax rebate rate will be beneficial to export-oriented textile and garment enterprises to reduce their burden.