"From January to September, the profits of industrial enterprises above designated size nationwide increased by 44.7% year-on-year, and the two-year average growth rate was 18.8%. In the third quarter, the profits of industrial enterprises increased by 14.3% year-on-year, continuing to maintain double-digit growth; the two-year average growth rate was 15.1%. The speed ratio fell slightly in the second quarter and maintained a good overall growth trend. Among them, the profit in September increased by 16.3% year-on-year, and the growth rate was 6.2 percentage points faster than the previous month." Zhu Hong, senior statistician from the Department of Industry of the National Bureau of Statistics, interpreted the profit data of industrial enterprises Shi said that in the third quarter, industrial production continued to recover, profits maintained a good growth momentum, corporate profitability continued to improve, and profitability, asset-liability ratio and capital turnover continued to improve year-on-year.



Industrial enterprise profits maintain rapid growth



According to data released by the National Bureau of Statistics on the 27th, from January to September, the national industrial enterprises above designated size achieved a total profit of 634.408 billion yuan, a year-on-year increase of 44.7%. Among them, the profit in September increased by 16.3% year-on-year, and the growth rate was 6.2 percentage points higher than the previous month.



Source: National Bureau of Statistics


"The profitability of the mining industry and the raw material manufacturing industry has expanded significantly." Zhu Hong said that in the third quarter, the profit of the mining industry increased by 2.04 times year-on-year, and the raw material manufacturing industry increased by 42.5%, continuing to maintain a rapid growth trend, providing important support for the improvement of industrial enterprise profitability.



 In addition, in the third quarter, the profit of high-tech manufacturing industry increased by 33.6% year-on-year, and the growth rate was 19.3 percentage points higher than the average level of industrial enterprises above designated size, which played a significant leading role. Among them, the pharmaceutical manufacturing industry was driven by the large domestic and foreign vaccine demand and the booming production and sales of enterprises. The profit in the third quarter increased by 66.8% year-on-year, continuing the rapid growth since the beginning of the year; the electronic and communication equipment manufacturing industry was affected by the steady growth of corporate income Investment income was driven by factors such as decline to increase. Profits increased by 33.4% year-on-year, and the growth rate was 14.6% faster than in the second quarter.

 

At the same time, the profits of the consumer goods manufacturing industry have recovered steadily. In the third quarter, with the continuous recovery of market demand, the profit of the consumer goods manufacturing industry increased by 9.7% year-on-year, with an average growth rate of 12.0% in two years, showing a steady recovery trend. Among them, the profit of the chemical fiber industry increased by 2.15 times year-on-year, showing rapid growth; the profit of the furniture manufacturing, culture, education, and arts industries increased by 10.6% and 8.3%, respectively, and the growth was relatively stable.



Seventy percent of the industry's profitability exceeds the level before the epidemic



Data show that in the third quarter, among 41 major industrial sectors, 29 industries have increased their profits compared to the same period in 2019, accounting for 70.7%. The overall performance of most industries is better than before the epidemic. Among them, there are 18 industries with an average growth rate of 10% or more in the two-year profit.



It is worth noting that from the perspective of corporate profitability, although over 70% of the 41 major industrial sectors in the third quarter have a profit scale exceeding the level before the epidemic, from the month-on-month situation, from January to September, 35 industries Total profits increased year-on-year, one industry turned losses into profits, and five industries declined. The profits of the main industries are as follows:


■ The total profit of petroleum, coal and other fuel processing industries increased by 9.30 times year-on-year

■ Oil and gas extraction industry increased by 2.67 times

■ Coal mining and washing industry increased by 1.72 times

■ Non-ferrous metal smelting and rolling processing industry increased by 1.62 times

■ Ferrous metal smelting and rolling processing industry increased by 1.45 times

■ Manufacturing of chemical raw materials and chemical products increased by 1.27 times

■ Computer, communications and other electronic equipment manufacturing industry grew by 38.7%

■ General equipment manufacturing industry increased by 17.9%

■ Special equipment manufacturing industry increased by 17.8%

■ Electrical machinery and equipment manufacturing industry increased by 16.0%

■ Non-metallic mineral products industry grew by 14.7%

■ The textile industry grew by 1.4%

■ The automobile manufacturing industry increased by 1.2%

■ The agricultural and sideline food processing industry dropped by 7.1%

■ Electricity and heat production and supply industries fell by 24.6%.



"In the third quarter, the profits of industrial enterprises above designated size maintained a good growth momentum, but factors such as high commodity prices and insufficient supply chain industry chains affected the continued recovery of corporate profits. At the same time, the problem of profit imbalances between upstream and downstream industries was more prominent, and the benefits of industrial enterprises recovered. The foundation of the market needs to be further consolidated.” Zhu Hong said that the next step is to maintain the continuity and stability of macroeconomic policies, do a good job in cross-cycle economic adjustment, stabilize the prices of bulk commodities, continue to expand domestic demand, promote transformation and upgrading, stimulate the vitality of market entities, and ensure The industrial economy is operating within a reasonable range.