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Weekly Quotes | The market downturn of down and feather continues

2023-05-14     来源:金绒     浏览量:2124


summary


The market remained stable this week.

There are no obvious signs of improvement in the textile market after the holiday, and terminal demand is becoming more cautious, with strong wait-and-see sentiment on the market. Against the backdrop of sluggish demand for finished down, the sluggish down market continues.

Recently, the supply of duck seedlings has maintained a relaxed trend, but in the future, the overall trend is decreasing month on month. Due to the high settlement price of duck feathers at the duck factory, pure white duck feathers have rebounded slightly in this round, showing signs of stopping the decline.

In previous years, the export trade of down jackets started in May, followed by a step-by-step development, and reached its peak in July to August. However, the majority of imported down jackets are from European and American countries, as well as Japan and South Korea, so expectations for this are difficult to be optimistic.


1

Monday: Prices of all categories are flat

Exchange rate of USD to RMB: 6.9158


2

Tuesday: Prices of all categories are flat

Exchange rate of USD to RMB: 6.9255


3

Wednesday: Prices of all categories are flat

Exchange rate of USD to RMB: 6.9299


4

Thursday: Prices of all categories are flat

Exchange rate of USD to RMB: 6.9101


5

Friday: Prices of all categories are flat

Exchange rate of USD to RMB: 6.9481




good news


1

Exports in April were stronger than expected, and the trend of stable and positive foreign trade continued further

On May 9th, the General Administration of Customs announced that in the first four months of this year, China's total import and export value was 13.32 trillion yuan, a year-on-year increase of 5.8%, measured in RMB (the same below). Among them, exports reached 7.67 trillion yuan, an increase of 10.6%; Import reached 5.65 trillion yuan, an increase of 0.02%; The trade surplus reached 2.02 trillion yuan, an increase of 56.7%.

In April of this year, China's import and export reached 3.43 trillion yuan, an increase of 8.9%. Among them, exports reached 2.02 trillion yuan, an increase of 16.8%; Import reached 1.41 trillion yuan, a decrease of 0.8%; The trade surplus was 618.44 billion yuan, an increase of 96.5%.

Lu Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs, introduced: "In the field of foreign trade, the year-on-year growth rate of imports and exports in the first four months has accelerated by 1 percentage point compared to the first quarter. The monthly survey of customs shows that the proportion of enterprises with increased export orders has increased for four consecutive months, and the stable and positive trend of foreign trade has further continued

The stronger than expected export growth rate in April is related to the active response of foreign trade enterprises to changes in overseas demand, further recovery of production activities, and the emergence of a series of stable foreign trade policy measures. The significant slowdown in imports has further expanded the trade surplus compared to previous levels.

However, the current rebound in foreign trade data is not only driven by economic recovery, but also related to the low base brought about by the impact of the epidemic on foreign trade in April last year. We should take a rational view.

In April, China's textile and clothing exports to the world reached 176.03 billion yuan, an increase of 17.4% year-on-year and a decrease of 2.2% month on month. Among them, textile exports reached 87.41 billion yuan, an increase of 12.1%, and a decrease of 0.7% month on month; Clothing exports reached 88.62 billion yuan, an increase of 23.2%, and a decrease of 3.7% month on month.



2

Make new friends, facilitate new orders, and down and product companies have made appearances at the Canton Fair

On May 1st, the third phase of the 133rd Canton Fair opened. Among them, the textile and clothing sector has reached the scale of large and medium-sized professional exhibitions, with numerous new products and technologies appearing in a concentrated manner. Enterprises such as Liuqiao Group, Samsung Down, Xueruisha, and Anhui Zhonghong Xinyuan also participated with their products.

The exhibition team of Liuqiao Group actively interacts with customers from various countries, showcasing their main flagship products such as duck down and goose down. They also received orders from buyers from multiple countries and opened up many potential cultivable customers, achieving impressive exhibition results.

At this Canton Fair, many Jin enterprises made new friends and expanded into new markets. The exhibition effect at the Canton Fair was good, and we have signed an initial intention order of over 5 million US dollars, "commented Chen Qi, General Manager of Jinjiang Yuying Clothing Co., Ltd.

He introduced that among the customers who inquired and placed intended orders at the exhibition, the proportion of old customers to new customers was 3:7, with a significant increase in the proportion of buyers from emerging markets such as Brazil and Russia.

Zhenjiang enterprise exhibitors release new products, make new friends, and facilitate new orders. Danyang Yuheng Outdoor Products Co., Ltd. has a professional R&D and design team, adhering to the production concept of continuous technological innovation and always focusing on product quality, and its products are exported to overseas markets.

The company made its debut at the Canton Fair with a newly upgraded product, a heatable down sleeping bag. The innovative design of adding a heating element to the sleeping bag has been highly favored by buyers in Europe, America, Japan, and South Korea. During the exhibition, the intended transaction amount reached 1 million US dollars.

A group of Liaoning enterprises are expanding more channels at the Canton Fair. Fengcheng Ruiwo Clothing Co., Ltd. specializes in skiing suits, down jackets and other categories, and its independent brand "Ruiwo Outdoor Sports Clothing" has been awarded the title of "Liaoning Province Famous Brand Product". At this year's Canton Fair, companies have received approximately 5000 intended orders from countries such as the UK, Russia, and Italy.



3

In April this year, Duck Duck began preparing for 618

"In the past two years, due to the pandemic, we have been relatively passive in stocking and logistics. As a down jacket merchant, this is also the first time in recent years that we have carried out off-season promotions without any worries."

"We expect the sales of 618 Duck to increase by 30-40% year-on-year this year, "said Xu Mingjie, the head of e-commerce operations at the official flagship store of Duck. Since April, they have been soliciting suppliers and distributors to prepare for 618.

In terms of product preparation, 618 is not only a key node for the off-season promotion and inventory sales of down jackets, but also a period for down jacket merchants to intensively introduce and test new models. This will provide necessary incubation time and traffic resources for the second half of the autumn and winter season to create popular products.

The period of intensive new product launch and testing will provide necessary incubation time and traffic resources for creating popular products in the autumn and winter of the second half of the year.

Xu Mingjie revealed that based on the business operation since the beginning of the year, the growth of business this year is significantly better than last year. This year's 618, the platform provided many policy support to ducks, such as instilling traffic in the down category and locking in new product development resources, which also made ducks feel practical protection of their rights and interests.

At the new product level, Yaya will upgrade 10 series from the 7 series last year, and the overall stocking volume will also increase by 20-30% year-on-year, reaching a million level stocking scale. The marketing budget will double compared to last year.

At the same time, in order to better seize the outbreak period of 618 this year, Yaya has been implementing proactive management since April, requiring suppliers to pay more attention to consumer service, ensure that goods are stored in advance, and ensure that 618 can be shipped in advance.


bad news


1

The first quarter revenue of down jacket OEM factory was dismal

Quang Viet, a major manufacturer of down jacket OEM, had a consolidated revenue of 2.657 billion yuan in the first quarter, a decrease of 349 million yuan compared to the same period last year; The operating gross profit was 390 million yuan, a decrease of 26 million yuan compared to the same period last year.

The general manager stated that although the operating pace has slightly slowed down compared to 2022 due to the inventory adjustment of major American sports brand customers this year, the group still has other sports and outdoor brand customer orders that continue to grow; Starting from the second quarter, Quang Viet will enter the peak production and shipping season, and operations are expected to gradually warm up and resume growth.

For this year's operations, Quang Viet pointed out that it can show a "quarterly high" trend, and it is expected that the recession for the entire year of this year will be within 10%. The industry pointed out that the overall industry prosperity is currently uncertain, and the visibility of orders in the second half of the year will not be clear until the end of the second quarter.

Overall, it is estimated that the inventory adjustment of major American sports brand customers will gradually slow down, and orders are expected to gradually recover. Quang Viet is still cautious and optimistic about future development, and the legal representative is optimistic that the future operational landscape will gradually expand.



2

Vietnam's foreign trade situation is more severe than imagined

Recently, the latest data released by the National Bureau of Statistics of Vietnam showed that Vietnam's exports in April decreased by 17.1% year-on-year, to 27.5 billion US dollars; Imports decreased by 20.5% year-on-year to $26 billion. Exports from January to April decreased by 11.8% year-on-year to $108.6 billion; Imports decreased by 15.4% year-on-year to $102.2 billion.

Vietnam's exports have collapsed again, and the foreign trade situation is more severe than expected. Vietnamese news agency quoted Prime Minister Pham Myung sung as saying that Vietnam is facing more difficulties than opportunities due to the impact of global economic deterioration.

According to VNN News Network, Vietnam's Minister of Industry and Trade, Nguyen Hung yan, stated that some developed countries have set new technological barriers on issues such as clean energy and low-carbon production, and these "new game rules" have put Vietnam in an unequal competition.

"The new policies (such as green energy) sound very humanitarian, but they are new game rules in unequal competition. Developed countries (in these fields) are far ahead and have much better conditions than us, "said Nguyen Hung yan.




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