Core Viewpoint - Bangladesh is set to import 8.05 million bales (approximately 1.77 million tons) of cotton in the 2024-2025 period, making it the largest cotton importer globally, surpassing Vietnam and China [1] Group 1: Cotton Import and Supply - Approximately 41% of Bangladesh's cotton imports will come from Africa, totaling around 3.3 million bales (approximately 726,000 tons), establishing Africa as the largest cotton supply region for Bangladesh [1] - Major African countries exporting cotton to Bangladesh include Benin, Cameroon, Burkina Faso, and Mali [1] Group 2: Textile Industry Overview - Bangladesh has a highly developed cotton processing and textile industry, with around 4,500 factories employing 4 million people [1] - The annual cotton consumption in Bangladesh ranges between 8.5 million to 15 million bales [1] - The total export value of ready-made garments from Bangladesh is projected to be approximately $39.3 billion, covering various textile products such as pants, T-shirts, knitwear, sweaters, shirts, and underwear [1] Group 3: Value Addition Efforts - Some African countries are working to enhance the value of cotton exports; for instance, Benin plans to establish around 28 textile processing units in the Glo-Djibé industrial zone by 2032, aiming to process most of its cotton into finished or semi-finished products to increase industry chain value and economic benefits [1]

Core Viewpoint - The Turkish textile industry is experiencing significant adjustment pressure, facing its most pronounced downturn in at least 20 years due to weakened external demand and rising production costs [1] Group 1: Industry Performance - Over 300 textile and apparel companies in Turkey have applied for bankruptcy protection this year, with more than 300,000 jobs lost in the sector over the past two years [1] - Textile production in key regions like Istanbul and Denizli has slowed, with many factories operating at only 30% to 40% of normal capacity [1] - Turkey's textile exports reached approximately $8.6 billion and apparel exports about $15.5 billion, totaling $24.1 billion, which is a decline of about 23.6% compared to the historical high of $31.56 billion in the same period of 2022 [1] Group 2: Competitive Landscape - Increased competition from Asian countries, particularly Bangladesh and Vietnam, is a significant factor putting pressure on the industry due to their lower labor and energy costs [2] - There is a noticeable decline in business activity in traditional textile trade areas in Istanbul, with many showrooms closing due to reduced orders and increased costs [2] - Changes in foreign purchasing behavior, including a decrease in cash transactions and concerns over safety and economic conditions in client countries, have further impacted buyer interest [2] Group 3: Industry Challenges and Responses - Some manufacturers are exiting the textile industry to move into more stable sectors like warehousing and logistics due to difficulties in covering basic production costs [3] - The president of the Istanbul Textile and Raw Materials Exporters Association highlighted the chain reaction effects of bankruptcy protection applications on suppliers and the overall market [3] - There is an urgent need for a new development roadmap focusing on technological transformation, brand building, and sustainable production to navigate the current adjustment period [3] Group 4: Future Directions - The industry must focus on transitioning to high-value sectors, including functional and eco-friendly fabrics, and small-batch, high-quality production to enhance competitiveness [4] - Industry transformation requires policy and financial support, including long-term financing and export credit to alleviate funding pressures for equipment upgrades and R&D investments [4] - Strengthening collaboration across the supply chain and integrating textile production with design, branding, logistics, and digital platforms can improve efficiency and resilience against market fluctuations [4]

福恩股份是一家以可持续发展为核心的全球生态环保面料供应商，以生态环保面料的研发、生产和销售 作为主营业务。现已成为集面料设计、研发、纺纱、织造、印染、后整和销售于一体的大型企业。公司 遵循差异化发展路径，持续引领行业创新，产品在绿色、科技和时尚等领域具有特色优势。 根据深交所安排，杭州福恩股份有限公司（以下简称"福恩股份"）将于12月26日上会，接受深交所上市 审核委员会的会议审核。 不过，作为一家申请在深市主板上市的IPO公司，福恩股份却面临着还未上市业绩就率先变脸的尴尬。 实际上，作为一家申请主板上市的公司，其业绩的稳定至关重要，业绩稳中有升，不仅可以给市场一个 良好的印象，而且也是公司本身通过IPO审核的加分项。 但福恩股份的业绩似乎并不争气。报告期内，公司营业收入分别为176,376.12万元、151,689.83万元、 181,282.69 万元和93,805.22 万元，净利润分别为27,657.58万元、22,924.91 万元、27,483.30 万元和 10,530.01 万元。就2022年到2024年这三个完整的会计年度来看，营业收入并没有出现明显的增长，而 净利润2024年较2022年还 ...

（来源：工人日报） 今年以来，当地通过实施鼓励科技创新、减税降费、助企纾困等政策，提升自主品牌竞争力，推动智能 制造升级，经济保持平稳增长态势。同时，产业发展带动劳动力实现家门口就业增收，助力乡村振兴。 本报通讯员 陈海伟 摄 12月18日，浙江省湖州市长兴县夹浦镇，浙江常鑫纺织品有限公司车间，工人正在生产线上忙碌，奋战 四季度订单，冲刺全年目标任务。 ...

新华财经伊斯坦布尔12月22日电（记者许万虎）土耳其纺织业当前正面临明显调整压力，业内人士表 示，在外部需求走弱、生产成本上升等因素叠加影响下，该行业正在经历至少20年来最明显的一轮下行 周期。 业内人士透露，行业还面临劳动力供给结构变化带来的挑战。长期从事缝纫、染整和裁剪等劳动密集环 节的部分叙利亚难民正在陆续返回本国，而本国年轻劳动力进入纺织行业意愿不足，用工短缺问题突 出。 纺织业是土耳其制造业和出口体系的重要支柱。数据显示，今年以来，该国已有300多家纺织和成衣企 业申请破产保护，过去两年间相关行业就业岗位减少超过30万个。业内普遍认为，本轮调整已超出短期 周期波动范畴，呈现出较为明显的结构性特征。 多重压力迫使企业退出行业呼吁紧急"转型" 产出放缓买家减少传统市场持续承压 据土耳其媒体报道，在伊斯坦布尔、代尼兹利、布尔萨、加济安泰普和卡赫拉曼马拉什等主要纺织产业 集中地区，不少工厂目前已停产或将开工率降至正常水平的30%至40%。作为行业重要支撑的出口表现 持续承压，欧洲市场需求疲软叠加原材料和能源成本上升，对企业经营形成制约。 官方数据显示，截至今年11月，土耳其纺织品出口额约为86亿美元，成衣出 ...

（来源：湖州日报） 为助力制造业企业逐"绿"而行，向"新"而进，我市税务部门主动靠前、精准施策，打造了涵盖企业开 办、转型、销售、出口等环节的全链条量身定制服务，通过"政策找人"机制，精准识别制造业企业在研 发立项、绿色改造、设备更新等方面的潜在需求与适用政策，零距离提供涉税服务。 在企业信用培育方面，"税小美"信用管家团队提供从政策解读、纳税申报到风险提示的"一站式"服务， 常态化开展经营数据与涉税诉求分析，及时预警提醒，引导企业强化合规管理，助力企业在"新赛道"上 跑出"加速度"。作为受益者，浙江峰晖竹木制品有限公司近日获评A级纳税信用等级和A级生态环境信 用"双A认证"，其绿色竹木草制品更加受到海外客户青睐，逐步成为国际市场的环保"新名片"。 市税务局表示，将继续深化税收大数据应用，实现对制造业绿色转型过程的精准画像与动态跟踪。同 时，积极联合多部门推动构建政策协同、信息互通、服务联动的工作机制，共同完善贯穿"评价—诊断 —改进—提升"全周期的绿色制造税务支持体系，助力更多企业以税务合规为翼，迈向高质量发展新阶 段。 转自：湖州日报 记者 邵丹红 本报讯 记者近日走进位于南浔区双林镇的湖州菁诚纺织品有限 ...

Core Viewpoint - The Chinese automotive market in 2025 is characterized by a stark contrast between industry consolidation and the influx of new entrants, with companies like Weiqiao Group making significant moves into the electric vehicle sector amid challenges in their traditional businesses [4][5]. Group 1: Industry Challenges and New Entrants - Several established automotive companies, including Hozon Auto and GAC Fiat, have declared bankruptcy, indicating a harsh industry shakeout [5]. - New players, such as Chasing Technology and Weiqiao Group, are entering the market, driven by government support and the need for diversification from struggling core businesses [5][9]. Group 2: Weiqiao Group's Background and Strategy - Weiqiao Group, originally established in 1951, has diversified into various sectors, including textiles and aluminum, and has been listed among the Fortune Global 500 for 13 consecutive years [7]. - The company faced significant challenges in its textile and aluminum businesses, with textile profits dropping by 24.8% in 2022 and a major environmental crackdown affecting aluminum production [9][10]. - Following these setbacks, Weiqiao Group shifted its focus to the electric vehicle sector, motivated by favorable government policies and the need for new growth avenues [12][19]. Group 3: Leadership and Vision - Zhang Bo, the son of the founder, took over leadership in 2018 and has been pivotal in steering the company towards the automotive industry, emphasizing the importance of aligning new ventures with the company's core competencies [16][22]. - Under Zhang Bo's leadership, Weiqiao Group has made strategic partnerships and investments in the electric vehicle space, including collaborations with research institutions and other automotive companies [17][22]. Group 4: Automotive Brand Development - Weiqiao Group has established four automotive brands: 212, Jishi, Ruisheng, and Leichi, covering a wide range of market segments from commercial to passenger vehicles [32]. - The company has adopted a strategy of acquiring existing automotive assets and brands rather than starting from scratch, which allows for quicker market entry and leveraging existing capabilities [33]. - The 212 brand has been particularly notable, with a range of models priced between 139,900 to 188,800 yuan, although it has faced challenges such as product quality issues and trademark disputes [23][32]. Group 5: Future Outlook - Weiqiao Group's automotive ventures are seen as a new hope for the company, with significant revenue growth reported in 2024, but they also introduce new uncertainties and risks [22][32].

Group 1 - Zhongtian Jingzhuang announced that its partner Changjiang Semiconductor intends to acquire 100% equity of Zhengzhong International Education, thereby indirectly gaining control of China High-Tech [1] - Changjiang Semiconductor plans to introduce semiconductor packaging business to China High-Tech, focusing on HBM packaging and customized packaging products, with specifics to be determined by future developments [1] Group 2 - Jinshi Resources announced a plan to purchase 15.7147% equity of Nuoya Fluorochemical for 257 million yuan, making it the second-largest shareholder of Nuoya Fluorochemical [2] - This transaction is a strategic investment leveraging upstream resource advantages to target quality entities in the downstream fine chemical sector [2] Group 3 - Guanshang Technology plans to acquire at least 60% equity of Liao Jing Electronics through a share issuance, while also raising matching funds; the transaction remains uncertain [3] - The company's stock will be suspended from trading starting December 22 [3] Group 4 - Delin Hai's vice chairman Ma Jianhua intends to reduce his shareholding by up to 196,000 shares, representing no more than 0.1735% of the total share capital [4] - This reduction will not exceed 25% of his total shareholding prior to the sale [4] Group 5 - Mercury Home Textiles announced that shareholders Li Lijun and Li Yujian plan to collectively reduce their holdings by no more than 1.72% of the total shares [5] - Li Lijun plans to reduce up to 1.52 million shares (0.5791% of total shares), while Li Yujian plans to reduce up to 3 million shares (1.1429% of total shares) [5] Group 6 - Kairuide announced that its major shareholder Hubei Nonggu Group plans to reduce its holdings by up to 3% of the total shares, totaling 11.03 million shares [6] - The reduction will occur through both centralized bidding and block trading methods [6] Group 7 - Victory Energy reported significant stock price volatility, with a cumulative increase of 77.22% over six consecutive trading days, indicating a high risk of rapid decline [7] - The stock price has significantly deviated from the company's fundamentals, suggesting potential for a sharp downturn [7] Group 8 - Wantong Development announced that its controlling shareholder Jia Hua Holdings has had 364 million shares frozen, representing 100% of its holdings and 19.28% of the company's total shares [8] - The controlling shareholder has faced overdue debts totaling 1.301 billion yuan, with ongoing negotiations to resolve contractual disputes [8]

Group 1 - A total of 9 companies are scheduled for IPO review next week, aiming to raise a combined capital of 9.111 billion yuan [1] - The companies include Ying's Holdings, Shenglong Co., Shiya Technology, and others, with various industries represented such as food manufacturing, non-ferrous metal mining, and electronic equipment manufacturing [2][6] - Ying's Holdings is a leading enterprise in the infant food industry in China, focusing on nutritional care for infants and young children [6][7] Group 2 - Shenglong Co. is a major molybdenum company in China, engaged in the comprehensive development and utilization of non-ferrous metal resources [15][16] - Shiya Technology specializes in micro-display solutions, being the first to achieve mass production of silicon-based OLED micro-displays [10][11] - Dapu Microelectronics focuses on enterprise-level SSD products, with a strong capability in self-research and development [20][21] Group 3 - Longyuan Co. specializes in the research, production, and sales of aluminum alloy precision die-casting parts, primarily for the automotive industry [25][26] - Fuen Co. is a global supplier of eco-friendly fabrics, emphasizing sustainable development in its operations [33] - Sanrui Intelligent Technology is a leading manufacturer of drone and robot power systems, actively developing products for electric vertical takeoff and landing aircraft [29][30]

二 〇 二 五 年 度 报告导读： 截至 12 月 19 日当周，ICE 棉花维持低位波动，其中周二在原油下行和美棉出口数据持续不佳的情况 下，ICE 棉花 3 月合约一度跌破 63 美分/磅，不过受美国通胀数据提振降息预期以及空头回补影响，下半 周 ICE 棉花连续小幅反弹，收复了周二的大部分跌幅。目前来看，疲软的美棉出口数据使得 ICE 棉花仍然 缺乏上涨的驱动，不过由于基本面并没有新的利空，在外部市场风险偏好整体乐观的情况下，ICE 棉花暂 时守住了 63 美分/磅一线。 国内棉花期货和现货继续小幅走强，基差整体仍偏坚挺。相对稳定的高基差继续支撑棉花期货，不过 棉花仓单继续增加，而且新棉刚上市三个多月，2025/26 年度的国产棉的供应压力并没有完全释放，表现 为随着期价的上涨陆续有一些套保盘出现，这一定程度上限制了郑棉期货的上涨动能；另外下游的需求处 于淡季，对于全年的需求目前偏稳去看但是还需要持续观察，所以市场现在开始关注明年的种植情况可能 偏早了一些，春节后结合需求情况再讨论新年度的种植或更好。短期来看预计郑棉期货维持震荡偏强的走 势，但是上涨空间可能有限，注意现货基差的变化。 国 泰 君 安 期 ...