Weiqiao to become leader in cotton & textile production
06 Apr '06
3 min read
The decrease in the proportion of denim was attributable to the downtrend of denim sales in the low to medium end markets and therefore caused a reduction of production volume of denim by the Company.
In cotton yarn, demand was focused on high quality cotton yarn. The Group adapted to this market trend, and saw turnover increase from RMB4.048 billion to RMB5.426 billion. Cotton yarn represented 39.9 percent of total turnover.
Chinese demand dominated the global market in 2005, as global customers shifted manufacturing to China and domestic demand surged. China accounted for 54.0 percent of the Group's turnover, representing by far the largest customer base. The number of domestic customers rose by 21 percent during the year to 5,800. Agreements with the European Union and the United States during the year provided a relatively stable export environment to the industry and Group. The number of overseas customers for the Group's products rose by 20 percent, to 600.
Weiqiao Textile Company Limited, a non state-owned enterprise, is the largest cotton textile producer in the PRC, specializing in the production, sales and distribution of cotton yarn, grey fabric and denim. During the past ten years, the Group developed large-scale production capabilities by capitalizing on China's rapid economic growth. It has achieved strong positioning in the global textile markets by employing advance technology in state-of-the-art facilities.
marketing@alchempro.com
