Xinao
Zhejiang Xinao Textiles (603889.SH) is a vertically integrated Chinese manufacturer of worsted wool and cashmere yarns, serving 5,000+ clients and 500 brand partners globally through production bases in China, the UK, and Vietnam.
- Company typePublic
- Founded1991
- HeadquartersTongxiang, China
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Xinao does
Xinao (Zhejiang Xinao Textiles Inc., Shanghai Stock Exchange code 603889) is a vertically integrated natural-fiber yarn manufacturer founded in 1991 and headquartered in Zhejiang, China. Its core products are worsted wool yarns (15,000 tons/year at the Zhejiang base) and cashmere yarns, supported by upstream top-making capacity of 13,000 tons, woolen cashmere capacity of 2,500 tons, and worsted cashmere capacity of 360 tons. Through its Ningxia Xinao Cashmere subsidiary (established 2019), the UK-based Todd & Duncan platform (acquired 2020), and a new Vietnam manufacturing base (opened November 2024), Xinao controls fiber sourcing, top-making, and yarn spinning within a single corporate structure.
The company monetizes primarily by selling proprietary and OEM yarn to apparel brands and textile manufacturers, serving 5,000+ clients and 500 brand partners globally. It has built a portfolio of branded yarn lines — LINC, SAVE, X Dynamic Soul, and X Native Soul — that target premium fashion, performance, and cashmere segments, and it received industry recognition at ISPO 2025. Distribution runs through its own sales offices and subsidiaries in China, the UK, and Vietnam, with planned direct-to-designer engagement at Milan Design Week 2026 and a 35th-anniversary event in Florence 2026.
The business model is industrial B2B yarn supply at scale, with revenue largely a function of fiber cost pass-through, spinning margins, and capacity utilization. Vietnam capacity is targeted to grow from 2,500 tons (June 2025) to 6,500 tons by 2027, providing volume growth, while premium yarn lines and brand-direct channels provide mix-driven margin expansion. The company employed 3,979 people globally and disclosed 2024 revenue of CNY 4.841 billion.
Xinao firmographics
Firmographics- Name
- Xinao
- Legal name
- ZHEJIANG XINAO TEXTILES INC.
- Website
- https://xinaotex.com
- Company type
- Public
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Zhejiang Xinao Textiles (603889.SH) is a vertically integrated Chinese manufacturer of worsted wool and cashmere yarns, serving 5,000+ clients and 500 brand partners globally through production bases in China, the UK, and Vietnam.
- Ownership category
- akta.pro rank
Xinao industry classification
Industry- Product category
- Textile Yarn Manufacturing
- NAICS
- Fiber, Yarn, and Thread Mills (31311), Knit Fabric Mills (313240)
- SIC
- Textile Mill Products (2200), Knitting Mills (2250)
- akta.pro primary industry
- Textured & Specialty Yarn Manufacturing (Textured/Chenille/Bouclé) (IMAOAAAF)
Keywords
Where Xinao is headquartered
LocationHeadquarters
- HQ city
- Tongxiang
- HQ country
- China
- HQ region
- Asia
Offices11 records
Markets served
Xinao business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Worsted Wool Yarn Sales: Manufacturing and sale of worsted wool yarns with annual capacity of 15,000 tons at Zhejiang Xinao. Primary revenue stream from natural fiber yarn production serving global fashion and apparel brands.
- Cashmere Yarn Sales: Production and sale of cashmere yarns including woolen cashmere (2,500 tons/year capacity) and worsted/semi-worsted cashmere (360 tons/year) at Ningxia facility. Also includes Scottish cashmere from Todd & Duncan subsidiary.
- Wool Top and Dyeing Services: Top-making (13,000 tons/year), chemical treatment (18,000 tons/year), top dyeing (5,000 tons), hank dyeing (8,000 tons), and cone dyeing (2,000 tons) services through Zhejiang New Chuwa Wool and Houyuan Textiles subsidiaries.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | B2B enterprise pricing for yarn products |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
Xinao product offering
Product offeringCore offering
Xinao is a vertically integrated textile manufacturer that produces premium natural fiber yarns — worsted wool yarn (15,000 tons/year), cashmere yarns (woolen and worsted/semi-worsted), and high-performance active wool yarns — serving global fashion, activewear, and luxury apparel brands. Operations span raw material sourcing (wool farms, cashmere regions), top-making, dyeing, spinning, and finished yarn production across facilities in China, Vietnam, and Scotland.
Product overview
Xinao is a textile manufacturing company offering a portfolio of natural fiber yarn products organized under distinct sub-brands. The core offerings include Xinao Merino Wool (worsted wool yarns, 15,000 tons/year capacity) and Xinao Cashmere Yarns (cashmere products from Ningxia). These are complemented by lifestyle-focused sub-brands: X Dynamic Soul for high-performance active wool applications (trekking, skiing, biking, yoga), and X Native Soul for premium cashmere emphasizing sustainability and ethical sourcing. The portfolio also includes Todd & Duncan Limited, a historic Scottish cashmere brand acquired in 2020 serving the high-end global market. Xinao positions itself as a vertical hub covering the entire supply chain from raw material sourcing (including own farm acquisition Llanthro Farm) through top-making, dyeing, and spinning operations across facilities in China, Vietnam, and Europe.
Differentiator
Problem solved
Functional benefit
Brands
- X Dynamic Soul: Revolutionary yarn ecosystem engineered for active wear, designed for trekking, skiing, biking, and yoga. Features moisture-wicking and thermal insulation properties.
- X Native Soul
- X LAB
Products and services
- Xinao Worsted Wool Yarn Premium worsted wool yarn for circular knitting, flat knitting, and weaving applications in the fashion industry, produced with annual capacity of 15,000 tons at the Zhejiang Xinao facility.
- Xinao Cashmere Yarn Premium cashmere yarn products including woolen cashmere yarns (350 tons annual capacity) and worsted/semi-worsted yarns (360 tons annual capacity), sourced from Alxa, Alpas, and Mount Erlang regions in Ningxia, China.
- Wool Top and Dyeing Services Textile processing services including top-making, chemical treatment, and dyeing (top, hank, cone) operated through subsidiaries Zhejiang New Chuwa Wool Co., Ltd. and Zhejiang Houyuan Textiles Inc.
- X Dynamic Soul (Active Wool Yarn Line) High-performance merino wool yarn product line featuring moisture-wicking, thermal insulation, and flexibility properties, designed for activewear applications including trekking, skiing, biking, and yoga garments.
- X Native Soul (Premium Cashmere Line) Premium cashmere product line sourced from the Alxa, Alpas, and Mount Erlang regions in Ningxia, China, emphasizing sustainability, ethical sourcing, and artisanal quality with over 20 processing patents.
- Todd & Duncan Scottish Cashmere Yarn Scottish cashmere yarn brand established in 1867, acquired as a subsidiary in 2020. The only Scottish cashmere yarns supplier serving the high-end global market with heritage brand positioning.
- LINC Yarn High-performance merino wool yarn part of the X Dynamic Soul functional textiles line, recognized as ISPO TEXTRENDS TOP10 in the BASE LAYER category at ISPO Munich 2025.
- SAVE Yarn High-performance merino wool yarn part of the X Dynamic Soul functional textiles line, recognized as ISPO TEXTRENDS SELECTION at ISPO Munich 2025.
Quantifiable outcome
- CNY 4.841 billion total revenue in 2024
- +4 more outcomes
Companies that use Xinao
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Xinao technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Xinao partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Todd & Duncan LimitedcoreEstablished in 1867, Todd & Duncan became a subsidiary of Xinao in 2020. It is the only Scottish cashmere yarns supplier serving the high-end market globally, complementing Xinao's cashmere portfolio with its heritage brand positioning.
Scale indicators8 records
Recent moves10 records
Expansion highlights5 records
Xinao competitors and assessment
Company assessmentDirect peers
- Cariaggi Lanificio: Italian cashmere yarn spinner supplying luxury knitwear brands globally — comparable cashmere yarn product focus and premium brand customer base to Xinao's Todd & Duncan and Ningxia operations.
- Botto Giuseppe: Italian worsted wool yarn manufacturer with a heritage in fine merino yarns — comparable product (worsted wool yarn), European customer base, and premium positioning to Xinao's core offering.
- Marchi & Fildi: Italian yarn manufacturer with worsted and cashmere yarn lines serving international fashion brands — comparable B2B specialty yarn model and European premium customer overlap.
- Filatura di Crosa: Italian spinner of fine merino wool and noble fiber yarns for fashion knitwear — directly comparable specialty yarn product mix and Biella-cluster heritage relevant to Xinao's European customer base.
- Shandong Ruyi Technology Group: Major Chinese textile and apparel conglomerate with significant wool and cashmere operations and global brand assets (e.g., SMCP, Gieves & Hawkes) — comparable vertical integration into high-end natural fibers.
- Erdos Group: Inner Mongolia-based cashmere yarn and garment producer with full cashmere supply chain — comparable focus on premium cashmere yarns from raw fiber sourcing to finished product.
- Zegna Baruffa Lane Borgonesia: Italian worsted yarn manufacturer producing merino wool and cashmere yarns for high-end knitwear brands — directly comparable product portfolio and European premium customer base.
- Biella Yarns / Lanificio Successori Reda: Italian Biella-based wool mill producing worsted wool yarns and fabrics for premium menswear and sportswear brands — comparable worsted yarn heritage and European premium customer base.
- Jiangsu Sunshine Textile Co., Ltd. Vertically integrated Chinese wool/cashmere textile manufacturer with worsted fabric and yarn production serving global apparel brands — directly comparable to Xinao on product, customer base, and vertical integration model.
Broad incumbents
- Loro Piana: LVMH-owned Italian luxury house specializing in the finest merino wool and cashmere fabrics/yarns — comparable product and premium positioning, but operates as a luxury brand rather than a merchant yarn supplier.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Xinao social profiles
Digital presenceXinao financial estimates
Financial estimateRevenue estimate
Valuation estimate
Xinao leadership team
Management profileNumber of profiles
Profiles1 record
Xinao subsidiaries and ownership
Company hierarchySubsidiaries7 records
Xinao funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Xinao M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Xinao
What does Xinao do?
Xinao is a vertically integrated textile manufacturer that produces premium natural fiber yarns — worsted wool yarn (15,000 tons/year), cashmere yarns (woolen and worsted/semi-worsted), and high-performance active wool yarns — serving global fashion, activewear, and luxury apparel brands. Operations span raw material sourcing (wool farms, cashmere regions), top-making, dyeing, spinning, and finished yarn production across facilities in China, Vietnam, and Scotland.
Is Xinao a public or private company?
Xinao is a public company. It is classified as public and is currently operating.
When was Xinao founded?
Xinao was founded in 1991. It employs 1,001 to 5,000 people.
Where is Xinao based?
Xinao is headquartered in Tongxiang, China, in the Asia region.
How does Xinao make money?
Three revenue lines are on record. Worsted Wool Yarn Sales are the primary driver. The others are cashmere Yarn Sales and wool Top and Dyeing Services.
Who are Xinao's main competitors?
Direct peers on record are Cariaggi Lanificio, Botto Giuseppe, Marchi & Fildi, Filatura di Crosa, Shandong Ruyi Technology Group, Erdos Group, Zegna Baruffa Lane Borgonesia, Biella Yarns / Lanificio Successori Reda and Jiangsu Sunshine Textile Co., Ltd.. Loro Piana is listed as a broad incumbent.
Does Xinao have an API?
No public API is recorded for Xinao.
What industry is Xinao in?
Xinao's product category is Textile Yarn Manufacturing. Its primary akta.pro industry code is IMAOAAAF, Textured & Specialty Yarn Manufacturing (Textured/Chenille/Bouclé). Its NAICS code is 31311 and its SIC code is 2200.