Related Keywords: fashion cotton textile, garment fabric, grey fabric, plunge in profit, prices, production and distribution, spun yarn, Texhong Textile group, weak yarn sales, yarn manufacturer
Texhong Textile Group Ltd, Hongkong listed yarn manufacturer engaged in the production and distribution of quality yarn, grey fabrics and garment fabrics, especially of high value-added core-spun yarn and fashion cotton textiles has posted a plunge in profits for the first half of this year.
The plunge in profit was mainly due to weak yarn sales prices in the mainland China market and the depreciation of the yuan against the US dollar, the company noted in its interim results filed with the Hong Kong Stock Exchange yesterday.
