In the first two months, more than 90% of the industry profits have increased, and nearly 60% of the industry profits have doubled——

The profit recovery of industrial enterprises across the country accelerates

　　Our reporter Xiong Li

　　The National Bureau of Statistics released the profit data of industrial enterprises in the first two months of this year on the 27th. As the results of the overall planning of epidemic prevention and control and economic and social development continue to appear, the domestic and foreign market demand has recovered steadily, the base number during the same period is low, and the local Chinese New Year is common. Under the influence, 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.

In the first two months of this year, the national industrial enterprises above designated size achieved a total profit of 11.14.01 billion yuan, a year-on-year increase of 1.79 times, an increase of 72.1% over the same period in 2019, and an average increase of 31.2% in two years, continuing the good momentum of rapid growth since the second half of last year.

　　"Multiple factors are driving the rapid growth of industrial profits." said Zhu Hong, a senior statistician at the Department of Industry, National Bureau of Statistics.

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. The profit from January to February 2019 fell by 14.0% year-on-year, further lowering the base.

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, and the increase in enterprise labor was strong. Promote industrial enterprises to accelerate production and improve 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 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.

　　Statistics show that more than 90% of the industry profits have increased, and nearly 60% of the industry profits have doubled.

In the first two months of this year, among 41 major industrial sectors, 38 industries have increased their total profits year-on-year, 2 industries have decreased, and 1 industry has remained flat, with industry growth exceeding 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.

In the first two months of this year, the loss of industrial enterprises above designated size decreased by 28.6% year-on-year, and the loss was reduced significantly.

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 in the first two months of this year, driving the profits of industrial enterprises above designated size to increase by 96.1 percentage points, and turning loss companies made outstanding contributions to the growth of profits.

　　In terms of specific industries, the leading role of equipment and high-tech manufacturing is obvious.

In the first two months of this year, the profits of the equipment manufacturing industry and the 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.

　　In addition, the profit growth of the raw material manufacturing industry is good.

In the first two months of this year, the profit of the raw material manufacturing industry increased by 3.46 times year-on-year, an average increase of 46.4% in the two years.

Driven by factors such as rising product prices and low inventory raw material costs, 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.

　　In addition, data show that the cost pressure of industrial enterprises has been significantly eased, and profit margins have rebounded significantly.

In the first two months of this year, 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 lower level in recent years; the cost per hundred yuan of operating income decreased by 1.38 yuan year-on-year.

　　"The reduction in the level of costs and expenses expands the profitability of the company." Zhu Hong said.

In the first two months of this year, the operating income profit rate of industrial enterprises above designated size was 6.60%, an increase of 3.15 percentage points year-on-year, and profitability increased significantly.

　　"Overall, the performance of industrial enterprises continues to recover rapidly, but it must be noted that the international situation is still complex and severe, domestic epidemic prevention and control cannot be relaxed, the benefits of various industries are not yet balanced, and the profits of some consumer goods industries have not returned to normal before the epidemic. The foundation for the comprehensive recovery of the industrial economy needs to be further consolidated.” Zhu Hong said that the next stage will accelerate the construction of a new development pattern to create favorable conditions for the sustained and stable recovery of the industrial economy.