Pacific Textiles first half fiscal year 2022 net profit of 348 million Hong Kong dollars

On November 26, from April 1, 2021 to September 30, 2021, the operating income of Mutual Textiles was HK$3.163 billion, a year-on-year increase of 28.96%, and the net profit attributable to the parent company was HK$348 million, a year-on-year decrease of 7.43%. Share income is 0.25 Hong Kong dollars. During the reporting period, the company's total assets at the end of the period were 5.733 billion Hong Kong dollars, pre-tax profit was 388 million Hong Kong dollars, and accounts and bills receivable were 1.189 billion Hong Kong dollars.

RCEP promotes further upgrading of China's textile and apparel value chain

　　 RCEP is currently the world's largest free trade zone. The implementation of RCEP will have a positive and far-reaching impact on the textile and apparel trade and industrial chain structure between China and Asian countries. Cao Jiachang, chairman of the China Chamber of Commerce for Import and Export of Textiles, believes that the entry into force of the RCEP agreement will provide a huge boost for the formation of a new development pattern of China's textile and apparel industry in the new era, with the domestic cycle as the main body and the domestic and international dual cycles promoting each other. In recent years, as China and neighboring countries, especially ASEAN countries, have deepened production capacity cooperation in the textile and apparel field, RCEP members have formed a regional industrial cooperation model with obvious advantages.

On the one hand, with its strong comprehensive competitiveness and stable and complete industrial chain advantages, China maintains a direct export of textiles and garments of nearly US$280 billion; on the other hand, Chinese enterprises take advantage of the low cost and labor resources of ASEAN countries, The original production capacity and new production capacity'spillover' to these countries have made important contributions to promoting the textile and apparel exports, employment and economic growth of ASEAN countries. At the same time, it has also promoted the export growth of Chinese yarns, fabrics and other intermediate products to ASEAN. The mobility, activity and interdependence of textile and apparel trade in the region have increased significantly, which has led to the rise of the Asian supply chain centered on China.

Australia China Textile and Apparel Online Exhibition is about to open

In order to help Chinese foreign trade companies break through the barriers of the epidemic, quickly match supply and demand with Australian national buyers, ensure that companies can obtain exhibition results and purchase orders efficiently during the same period of online exhibitions, promote economic and trade and production capacity cooperation in the textile and apparel industries between China and Australia, and assist China's foreign trade Enterprises explore the Australian market and promote better connectivity between domestic and international markets under the new development pattern. The Australian China Textile and Apparel Online Exhibition hosted by the Ministry of Commerce of the People’s Republic of China and undertaken by Beijing Leading International Business Exhibition Co., Ltd. will open on December 1st Curtain. Up to now, the work of attracting investment and exhibition has been fully promoted. More than 140 domestic high-quality brand companies will be selected to register for the exhibition. It is expected that more than 1,000 professional Australian buyers will participate online.

This exhibition takes Chinese companies as the main exhibitors, takes the needs of Australian buyers as the core, adopts the newly upgraded "Trade Promotion Cloud Exhibition" platform, and relies on the Internet, big data and 5G technology to provide companies with online communication opportunities and precise matching service. Exhibits range from bulk clothing, fabrics, home textiles, apparel accessories, shoes, epidemic prevention supplies, etc., with special exhibition areas for "ready-to-wear", "fabric accessories", "home textiles", and "accessories and accessories".