China News Service, March 27. The website of the National Bureau of Statistics published on the 27th the National Bureau of Statistics senior statistician Zhu Hong interprets the content of the profit data of industrial enterprises.
Zhu Hong pointed out that the profit recovery of industrial enterprises accelerated from January to February.
As the results of the overall planning of epidemic prevention and control and economic and social development continue to emerge, under the combined effects of the stable recovery of domestic and foreign market demand, the low base in the same period, and the "in-situ Chinese New Year" and other factors, the growth of industrial production and sales has accelerated, and corporate income and profits have accelerated Recovery, the profitability level has rebounded significantly.
Data map: Workers are installing new production lines and expanding production.
Photo by Lin Hongyu
Multiple factors promote the rapid growth of industrial profits
From January to February, the national industrial enterprises above designated size achieved a profit of 11.14.01 billion yuan, a year-on-year increase of 1.79 times, an increase of 72.1% from January to February 2019, and an average increase of 31.2% in two years, continuing the rapid growth since the second half of last year. situation.
Zhu Hong said that the low base number superimposed on "Chinese New Year in situ" promoted rapid profit growth.
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. In the case of January-February 2019, profits fell by 14.0% year-on-year, further lowering the base.
During the Spring Festival this year, many places advocated local Chinese New Year. The start time of enterprises was significantly extended, and the employment situation of employees was also 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.
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.
More than 90% of the industry profits have increased, and nearly 60% of the industry profits have doubled.
From January to February, among 41 major industrial sectors, 38 industries increased their total profits year-on-year, and the industry's growth rate exceeded 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%.
The loss of enterprises has been significantly reduced, and the contribution of enterprises that have turned losses is outstanding.
From January to February, the loss of industrial enterprises above designated size decreased by 28.6% year-on-year, which was a significant reduction in losses.
At the end of February, the loss of industrial enterprises above designated size was 27.1%, a year-on-year decrease of 9.0 percentage points.
Among the loss-making companies in the same period last year, 47.2% of the companies achieved profitability from January to February this year, driving the profit growth of industrial enterprises above designated size by 96.1 percentage points, and turning loss companies made outstanding contributions to the profit growth.
The leading role of equipment and high-tech manufacturing is obvious.
From January to February, the profit of equipment manufacturing industry and high-tech manufacturing industry increased by 7.07 times and 3.08 times respectively year-on-year; from the two-year average, they increased by 55.3% and 60.2% respectively.
Among them, the pharmaceutical manufacturing industry benefited from the combination of factors such as the rapid increase in demand for vaccines and the rapid growth of epidemic prevention and anti-epidemic products, and its profit increased by 95.4% year-on-year.
The profit growth of the raw material manufacturing industry is good.
From January to February, the profit of the raw material manufacturing industry increased by 3.46 times year-on-year, an average increase of 46.4% over the two years.
Driven by factors such as rising product prices and low-priced inventory raw materials, the profit margins of enterprises in related industries have risen significantly.
Among them, the oil, coal and other fuel processing industries turned from losses in the same period to profit for the current period, with an additional profit of 57.70 billion yuan; the profit of the chemical raw materials and chemical products manufacturing industry increased by 4.98 times year-on-year.
Driven by investment rebound, increased downstream demand, and rising metal commodity prices, the profit of the ferrous metal smelting and rolling processing industry increased by 2.71 times year-on-year, and the non-ferrous metal smelting and rolling processing industry increased by 2.58 times.
The above four industries together contributed to a year-on-year increase of 47.9 percentage points in the profits of industrial enterprises above designated size.
The benefit situation of industrial enterprises has improved significantly
Zhu Hong pointed out 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 of 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.
Among them, the operating income profit margin of petroleum, coal and other fuel processing industries increased by 7.69 percentage points year-on-year, and the pharmaceutical manufacturing industry increased by 5.67 percentage points.
The debt-to-asset ratio declined.
At the end of February, the asset-liability ratio of industrial enterprises above designated size was 56.2%, a year-on-year decrease of 0.1 percentage point.
Among them, the asset-liability ratio of state-owned holding enterprises was 56.9%, a year-on-year decrease of 0.2 percentage points.
Zhu Hong said that overall, the performance of industrial enterprises continues to recover rapidly, but it must be noted 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, and the profitability of some consumer goods industries has not yet recovered. The foundation for the full recovery of the industrial economy needs to be further consolidated at the normal level before the epidemic.
In the next stage, it is necessary to accelerate the construction of a new development pattern in accordance with the Party Central Committee's decision and deployment and the spirit of the two sessions, and create favorable conditions for the sustained and stable recovery of the industrial economy.