TCM - Benefits from the Rebound in Textile Demand
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TCM has made significant efforts to restructure its business, which includes the following: (1) increasing the ratio of yarn using for internal manufacturing and liquidating some of its yarn machines, (2) raising its fabric capacity from 7 million meters to 10 million meters and (3) researching new kinds of yarn and fabric that will allow it to achieve a higher gross margin. These efforts, along with the rebound in textile demand, especially in the US market, could improve TCM’s business results in 2017. We expect that the company’s yarn segment will record no loss, while its fabric and garment segment’s gross margin will increase by 39% and 12%.
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