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On the 27th, the National Bureau of Statistics released a set of profit data of industrial enterprises. The latest data shows that from January to November, industrial enterprises above designated size achieved a total profit of 574.45.0 billion yuan, a year-on-year increase of 2.4%, and the growth rate was 1.7 percentage points higher than that from January to October.
According to Zhu Hong, a senior statistician from the Department of Industry of the National Bureau of Statistics, the growth of industrial profits shows the following characteristics:First, production and sales have maintained rapid growth. From January to November, the value added of the industrial enterprises above designated size increased by 2.3% year-on-year, and the growth rate was 0.5 percentage points faster than that from January to October. Among them, the increase in November was 7.0%, which was the highest point for each month since this year. From January to November, the operating income of industrial enterprises above designated size increased by 0.1% year-on-year, and the growth rate changed from negative to positive for the first time during the year, with a decrease of 0.6% from January to October. Improved market conditions have driven corporate profits to continue to rise.
Second, the profit growth of equipment and high-tech manufacturing has accelerated. From January to November, the equipment manufacturing industry achieved a year-on-year increase of 11.2% in profits, which was 1.6 percentage points faster than that from January to October, driving the profits of industries above designated size to increase by 3.8 percentage points year-on-year. Among them, the electronics industry and electrical machinery industry increased market sales driven by the continuous recovery in demand, and their profits increased by 15.7% and 6.6% respectively.
Third, the profitability of some traditional industries has improved. With the advent of the heating season, the demand for thermal coal and the price increase have driven the recovery of profits in the coal industry. At the same time, under the combined effect of the export substitution effect and holidays and other factors, the profit decline of the textile and apparel, leather fur, furniture manufacturing, recreational products, chemical fiber and other industries from January to November narrowed 0.5-3.7 percentage points from January to October.
Fourth, unit costs have dropped for the first time, and profitability has continued to rise. From January to November, the cost per hundred yuan of operating income of industrial enterprises above designated size was 84.08 yuan, a decrease of 0.01 yuan year-on-year, and the cumulative unit cost fell for the first time this year. From January to November, the operating income profit rate of industrial enterprises was 6.10%, an increase of 0.14 percentage points year-on-year; the operating income profit rate of the month in November was 7.06%, an increase of 0.63 percentage points year-on-year.
Fifth, the scope of corporate losses has shrunk and the amount of losses has dropped significantly. At the end of November, the loss of industrial enterprises above designated size dropped by 1.4 percentage points from the end of October and 17.2 percentage points from the end of February, and this year has shown a monthly decline. In November, the loss of loss-making enterprises fell by 46.4% year-on-year, and the decline was more than 45% for two consecutive months.
"It is worth noting that the company's accounts receivable and finished product inventory are still increasing." Zhu Hong said that in the next step, we still need to tighten the supply-side structural reform, focus on demand-side management, and continue to stimulate the market. Vigor, fully tap market potential, form a dynamic balance of demand-driven supply, and supply create demand, and continuously improve the quality and efficiency of the real economy.
