Yizheng Chemical Fiber announced that according to China's accounting, its first quarter of this year turned profitable, with a net loss of RMB 33.11 million, mainly due to the decline in product prices; the company's net profit for the same period last year was 2.87 million yuan. shaoxing rongxi textile co.,ltd , https://www.rongxifabrics.com
In the first quarter of this year, the main business income of Yizheng Chemical Fiber was RMB 3.7 billion, down 3.3% year-on-year.
Yizheng Chemical Fiber said in the statement that the price of PTA and ethylene glycol, the main raw materials of polyester in China, fluctuated due to the decline of polyester operating rate, and the price of polyester products decreased. At the same time, due to the oversupply of domestic polyester production capacity and downstream textiles The slowdown in product demand has further narrowed the profit margin. In the first quarter, the company's weighted average price of polyester products was RMB 9,031 per ton, down 11.3% year-on-year, and 5.4% lower than last year's average.