According to the latest data released by the National Bureau of Statistics, in January-February, industrial enterprises above designated size across the country achieved profits of 11.14 billion yuan, an increase of 1.79 times year-on-year, an increase of 72.1% from January-February 2019, and an average increase of 31.2% in two years. Among them, more than 90% of the industry profits increased, and nearly 60% of the industry profits doubled. The profitability of industrial enterprises continued to recover rapidly.

"Multiple factors are driving the rapid growth of industrial profits." Zhu Hong, a senior statistician at the Department of Industry of the National Bureau of Statistics, pointed out that as the results of the overall planning of epidemic prevention and control and economic and social development continue to appear, market demand at home and abroad has recovered steadily, with a relatively high base over the same period Under the combined effect of factors such as low and "Chinese New Year in situ", the growth of industrial production and sales has accelerated, the recovery of corporate income and profits has accelerated, and the level of profitability has rebounded significantly.

"The low base number is superimposed on the'In-situ Chinese New Year' to promote faster profit growth." Zhu Hong said that from January to February last year, due to the impact of the epidemic, the profits of industrial enterprises above designated size fell sharply by 38.3% year-on-year. Profits in January-February 2019 With a year-on-year decrease of 14.0%, the base was further lowered. During the Spring Festival this year, many places have advocated local Chinese New Year. The start time of enterprises has been significantly extended, and the employment situation of employees has also been significantly better than in previous years. From January to February, the average number of workers employed by industrial enterprises above designated size increased by 3.0% year-on-year. Industrial enterprises have accelerated their production and improved their efficiency.

In addition, the growth of industrial production and sales accelerated, which led to a significant increase in profitability. Since the beginning of the year, market demand has continued to pick up, and industrial enterprises have continued to recover stably, and production and sales have accelerated significantly compared with the same period last year. From January to February, the value added of the industrial enterprises above designated size increased by 35.1% year-on-year, and the two-year average growth rate was 8.1%; operating income increased by 45.5% year-on-year, and the two-year average growth rate was 9.4%. Industrial production and sales have reached a good level in recent years, creating favorable conditions for the improvement of corporate efficiency.

From an industry perspective, profits of more than 90% of industries have increased, and profits of nearly 60% of industries have doubled. From January to February, among 41 major industrial sectors, 38 industries increased their total profits year-on-year, and the industry grew by more than 90%. Among them, there are 24 industries whose profit growth rate exceeds 100%. On average over two years, 32 industries have achieved profit growth, with an increase of 78.0%.

In addition, data shows that cost pressures have been significantly eased, and profit margins have rebounded significantly. From January to February, the cost per hundred yuan of operating income of industrial enterprises above designated size decreased by 1.16 yuan year-on-year, and the unit cost fell to a relatively low level in recent years; the cost per hundred yuan of operating income decreased by 1.38 yuan year-on-year. The decline in the level of costs and expenses has expanded the profitability of the company. From January to February, the profit margin of operating income of industrial enterprises above designated size was 6.60%, a year-on-year increase of 3.15 percentage points, and profitability increased significantly.

However, Zhu Hong also pointed out that the international situation is still complicated and severe, the domestic epidemic prevention and control cannot be relaxed, the benefits of various industries are not yet balanced, the profitability of some consumer goods industries has not yet returned to the normal level before the epidemic, and the foundation for the full recovery of the industrial economy needs to be further consolidated .

Article information source-Economic Information Daily



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