In face of the challenges brought by the pandemic and the changing environments at home and abroad in 2020, sewing machine manufacturers in China have carried out pandemic prevention and reopening of enterprises in concerted efforts, and kept the industrial chains relatively unharmed by analyzing the situations, taking countermeasures against the pandemic, speeding up the restructuring, strengthening technological innovation, and actively countering the threats; on the other hand, they seized the opportunity to produce pandemic prevention equipment, and made significant contributions to the containment of the pandemic and the stability of sewing industry. Till June, the decline of key economic indicators has apparently slowed down, and showed a strong trend of rebounding though the negative growth of the whole industry has not been reversed yet.

Manufacture

Data from National Bureau of Statistics (NBS) show that the industrial added value accumulatively created by sewing machine manufacturers above designated scale from January to June has fallen by 17.6%, which is 13.9% higher than Q1, but still lags behind the average of national industrial growth of -1.3%.

Revenue

NBS data show that 237 sewing machine manufacturers above designated scale have earned 11,438 million RMBs in total from January to June, which falls by 17.76% on year-on-year basis, but grows by 8.6% compared with Q1. In June alone, sewing machine manufacturers above designated scale have earned 608 million RMBs in total, which is 21.52% higher than the previous month, 46.8% higher than Q1, but 17.34% lower on year-on-year basis; gross profit margin has grown by 1.76% on year-on-year basis to 19.48%; profit rate has grown by 0.51% to 5.32%.

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