In the first quarter, nearly 40% of industry profits doubled year-on-year
Industrial corporate profits generally increase
Beijing, April 27 (Reporter Xiong Li) According to the first-quarter profit data of industrial enterprises released by the National Bureau of Statistics on the 27th, from January to March, the total profit of industrial enterprises above designated size across the country was 1,825.38 billion yuan, a year-on-year increase of 1.37 times. , An increase of 50.2% over the same period in 2019, an average increase of 22.6% over the two years.
In March, industrial enterprises above designated size realized profits of 711.18 billion yuan, a year-on-year increase of 92.3%.
"In the first quarter, macroeconomic policies were implemented scientifically and accurately, the results of the overall planning of epidemic prevention and control and economic and social development were further consolidated and expanded, the industrial economy continued to recover, the production and operation of enterprises were steadily improving, profits continued to recover quickly, and operational efficiency continued to improve. A good start." said Zhu Hong, a senior statistician at the Department of Industry, National Bureau of Statistics.
According to Zhu Hong's analysis, the rapid growth of production and sales has laid a good foundation for the improvement of corporate efficiency.
In the first quarter, the added value of industrial enterprises above designated size increased by 24.5% year-on-year, operating income increased by 38.7%, and both production and sales achieved rapid growth, which strongly promoted the expansion of corporate profits and was one of the main reasons for the increase in corporate profits.
From an industry perspective, the profits of various industries have generally increased, and nearly 40% of the industry's profits have doubled.
In the first quarter, among 41 major industrial sectors, 39 industries achieved year-on-year profit growth, with growth rates reaching double digits and above. One industry turned from a loss in the same period last year to profit, and one industry reduced its loss.
Among the industries with profit growth, 16 industries have a growth rate of more than 100%, accounting for 39.0%.
Compared with the first quarter of 2019, 30 industries have achieved profit growth, with an industry growth rate of 73.2%.
The raw material manufacturing industry has an obvious role in driving industrial profit growth.
In the first quarter, the profit of the raw material manufacturing industry increased by 4.34 times year-on-year, an average increase of 40.7% in two years, 18.1 percentage points higher than that of the industrial enterprises above designated size.
"Driven by factors such as rising prices of bulk commodities and the continued recovery in demand, the profit growth rate of the raw material industry increased by 88.4 percentage points from January to February, which drove the profit growth of industrial enterprises above designated size by 51.5 percentage points in the first quarter. It is the industry with the strongest driving force. Plate." Zhu Hong said.
The equipment manufacturing industry and high-tech manufacturing industry maintained a good growth momentum.
In the first quarter, the profit of equipment manufacturing industry and high-tech manufacturing industry increased by 1.89 times and 1.26 times respectively year-on-year, and the two-year average growth rate was 24.1% and 36.8% respectively.
Driven by favorable factors such as market demand recovery, continuous export growth, stable investment recovery, and other favorable factors, the profit of the automobile manufacturing industry increased by 8.43 times year-on-year, the computer, communications and other electronic equipment manufacturing industry increased by 1.41 times, and the electrical machinery and equipment manufacturing industry increased by 1.67 times. The special equipment manufacturing industry increased by 1.46 times.
The above four industries together contributed to a 38.2% increase in the profits of industrial enterprises above designated size.
"In the first quarter, the operational efficiency of enterprises has been significantly improved." Zhu Hong said that this is mainly reflected in three aspects: First, unit costs have fallen year-on-year and profit margins have increased.
In the first quarter, the cost per hundred yuan of operating income of industrial enterprises above designated size decreased by 1.36 yuan year-on-year.
Secondly, the scope of corporate losses has been reduced, and losses have been reduced significantly.
At the end of March, the loss of industrial enterprises above designated size was 27.1%, a year-on-year decrease of 7.3 percentage points.
In the first quarter, loss-making enterprises reduced their losses by 32.7% year-on-year.
Thirdly, the growth rate of finished product inventories has fallen, and inventory turnover has accelerated.
Driven by the rebound in market demand and rapid sales growth, the growth rate of enterprise finished products has fallen.
At the end of March, the inventory of finished products of industrial enterprises above designated size increased by 8.5% year-on-year; the inventory turnover days of finished products were 18.3 days, a year-on-year decrease of 4.7 days.
"Overall, the performance of industrial enterprises in the first quarter continued to recover quickly, but we must also note that there are still greater uncertainties in the global epidemic trend and the international environment, and the recovery between industries is still uneven, especially the price of raw materials has risen significantly. Constantly increasing the cost pressure of enterprises, the foundation for the recovery of industrial enterprises' benefits still needs to be further consolidated." Zhu Hong said that in the next stage, we must continue to maintain the continuity and stability of macroeconomic policies, and focus on making up for shortcomings, tapping potential, increasing advantages, and expanding effective demand. , Improve the quality and efficiency of development, continue to consolidate the foundation for the recovery of the real economy, and promote the sustained, stable and healthy development of the industrial economy.
Xiong Li