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China Textile Import and Export Chamber of Commerce: China's textile industry foreign trade is expected to continue the steady recovery trend in the second half of the year.
From January to June, the trade volume of textile and outfits reached 153.57 billion US dollars, a year-on-year increase of 1.7%, of which the export amount was 143.24 billion US dollars, an increase of 1.6%, and the import amount was 10.33 billion US dollars, an increase of 3.8%. The cumulative trade surplus was 132.91 billion US dollars, an increase of 1.4%.
GTJA: Currently, the downstream inventory clearance of the footwear and apparel industry has basically ended, and the trend of order recovery is not a concern.
At present, the downstream destocking has basically come to an end. Judging from the order tracking situation of the top manufacturing companies, the trend of order recovery is secure. Especially the leading companies have the logic of seizing market share and expanding customer base, which is worth looking forward to.
Changjiang Securities' Special Report on Textiles, Outfits, and Luxury Goods: Weak Demand in North America, and Elasticity of Replenishing Inventory Needs Observation.
Looking ahead, it is expected that inventory replenishment will continue, with the elasticity of replenishment depending on the strength of demand recovery at the end. The overseas apparel retail industry has gradually entered the tail end of destocking since 2022Q3, and the pace and continuity of export chain recovery depends on the pace of replenishment, while the elasticity of recovery depends on the strength of demand recovery at the end.
More Unpleasant Surprises Could Be In Store For Moody Technology Holdings Limited's (HKG:1400) Shares After Tumbling 38%
Citic Sec: supply pattern continues to optimize, viscose staple fiber industry is expected to emerge from the downturn.
Viscose staple fiber is one of the three major textile fibers, combining the advantages of both synthetic and natural fibers.
Moody Tech Hldg (01400.HK) appointed Guo Xianwang as an independent non-executive director.
Moody Tech Hldg (01400.HK) announced on June 18th that Mr. Lin Yugang resigned as an independent non-executive director of the company because he hoped to devote more time to other personal affairs. The Board of Directors is pleased to announce that Mr. Guo Xianwang has been appointed as an independent non-executive director, a member of the audit committee and the remuneration committee, effective from June 18th, 2024.
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