Data show that textile and apparel industry accounts receivable increased by 32.3% year-on-year

Affected by the international economic environment, China's garment export is difficult to improve, and its inventory has also increased compared to previous years, which has also led to difficulties in returning funds to the upstream industry.

According to statistics, as of yesterday, 65 listed companies in the textile and clothing industry disclosed that the total amount of accounts receivable in the 2012 interim report was 14.269 billion yuan, an increase of 3.484 billion yuan over the 2011 accounts receivable of 10.785 billion yuan. The year-on-year increase was 32.3%.

There are financial company accountants to the "Securities Daily" reporter analysis, a listed company's accounts receivable if too much, it may affect the company's normal operations, especially if the payment is not timely, it will also affect the company's cash flow.

Accounts receivable increased 33% year-on-year

According to public information, according to the report “The issue of high alert for the current new corporate 'triangular debt'” written by the Enterprise Research Institute of the Development Research Center of the State Council, as of March 2012, accounts receivable for industrial enterprises nationwide was 7.12 trillion yuan. The increase of 17.74% over the same period of last year was the highest level in the same period since 2009.

According to the above statistics, it can be seen that the growth rate of accounts receivable in the textile and clothing industry has reached 32.3%, which is far higher than the growth rate of accounts receivable in industrial enterprises across the country.

According to statistics, of the 65 listed companies in the textile and apparel industry, 38 companies have accounts receivable exceeding 100 million yuan. Among them, the accounts receivable of Jihua Group, Aokang International and Black Peony ranked in the top three, and the accounts receivable of the company were 1.472 billion yuan, 1.062 billion yuan and 1.033 billion yuan respectively. Among them, the accounts receivable of Jihua Group and Aokang International have both more than doubled over the same period of last year.

In addition, the reporter found that when consulting statistical data, if the calculation is based on the aging of accounts receivable, the amount of accounts receivable within one year is the largest, and at the same time, the most bad debts are drawn. According to statistics, there are 63 listed companies with a total of 12.295 billion yuan in receivables within one year and a total of 500 million yuan in bad-debt provisions.

In addition, the total amount of accounts receivable aged 1-2 years, 2-3 years, and over 3 years is between 1-3 billion yuan, of which the bad debt provision for accounts receivable over 3 years The highest, almost 90% of accounts receivable were bad debts.

According to statistics, there are 57 listed companies with a total of 2.9 million yuan in accounts receivable for 1-2 years, and draw bad debt provision for 46,089,500 yuan; 54 listed companies have a total of 1.22 accounts receivable for 2-3 years. Billion yuan, the provision for bad debts drawn was 3,261,200 yuan; there were 44 listed companies with a total of 299 million yuan in receivables for more than three years, and bad debts for the amount of allowances were 263 million yuan.

Black Peony Receivables Doubt

"The surge in receivables will inevitably affect the company's cash flow. If the turnover does not open, it will affect the company's normal operations." There are accountants say so.

According to statistics, there are 19 net cash flows from operating activities of listed companies in the textile and clothing industry that are negative. Among them, the net cash flow generated by Black Peony's operating activities was -3.5 billion yuan, ranking the lowest in the cash flow rankings.

It can be seen that the funds of Black Peony are a bit nervous. According to the 2012 mid-year report, the black peony currency funds were 2.674 billion yuan, short-term loans were 2.353 billion yuan, non-current liabilities due within one year were 446 million yuan, and there was a shortfall of 125 million yuan in funds. At the same time, the long-term borrowing of Black Peony is as high as 20.01 billion yuan.

In addition, the 2012 mid-year report showed that the accounts receivable of the black peony was 133 million yuan, a year-on-year increase of 20.37%. However, according to statistics, the five debtors of the Black Peony totaled 862 million yuan in debt. Among them, the largest amount owed was the Urban Management and Construction Bureau of the New North District of Changzhou City (hereinafter referred to as “New North Urban Construction”), and the amount owed was 721 million yuan.

For this amount of debt, some investors broke the news that the black peony should have problems with the accounts receivable from New North City. The main problem is that during the period from the second half of 2011 to the first half of 2012, the amount of accounts receivable from New North City was higher than New North City built an operating income of more than 500 million.

"This situation is not normal. Generally speaking, there is only a case of receiving less than operating income." An accountant told reporters.

According to the 2012 Interim Report, among the top five customers of the Black Peony Receivables, the new North City should build 721 million Yuan and the accounts receivable should be within 1 year. In other words, this account receivable occurred between the second half of 2011 and the first half of 2012.

Through calculations, in the second half of 2011 and during the first half of 2012, the total operating income of Xinbei Urban Construction totaled 612 million yuan. If the tax included was 716 million yuan, this would amount to 721 million yuan in 1 year due from Black Peony. There are more than 5 million yuan worse than that. In this regard, an accountant questioned whether the company had calculated wrong accounts.

Polyester Fleece Blanket

Polyester Fleece Blanket,Shiny Yarn Flannel Blanket,Cheap Wholesale Flannel Blanket,Flannel Picnic Blanket

Shaoxing Kexin Textile&Carpet Co.,Ltd , https://www.kexintextile.com

Posted on