Central enterprises, performance improvement and resilience (authoritative release)
"In the first half of the year, the central SOEs made steady progress in their economic operations, markedly improved their economic benefits, continued to show their development resilience, and maintained the development trend of steady improvement and fast quality improvement." July 16, Secretary-General of the State-owned Assets Supervision and Administration Commission of the State Council, News Spokesperson Peng Huagang said at the press conference of the State Council Information Office.
Over 90% of central enterprises' operating income maintained double-digit growth
Peng Huagang gave a detailed introduction to the economic operation of central enterprises in the first half of the year-
Revenue and profit grew rapidly.
In the first half of the year, central SOEs achieved a cumulative operating income of 17.1 trillion yuan, a year-on-year increase of 28.2%, and an average growth of 8.7% in two years. Over 90% of enterprises maintained double-digit growth.
The total profit achieved was 1.31 trillion yuan, a year-on-year increase of 116.7% and an average increase of 17.9% over the two years.
Realized a net profit of 1.02 trillion yuan. The half-year net profit exceeded 1 trillion yuan for the first time, an increase of 133.3% year-on-year, and an average growth rate of 20.6% in two years. The net profit of most industries has increased significantly.
Continuous improvement of operation quality.
In the first half of the year, the operating income margin of central enterprises was 7.6%, a year-on-year increase of 3.1 percentage points and an increase of 1.1 percentage points from the same period in 2019.
Production efficiency rose steadily, with an annualized total labor productivity of 685,000 yuan per person, a year-on-year increase of 30.5%.
In the first half of the year, the net operating cash flow of central enterprises exceeded 1 trillion yuan, a year-on-year increase of 139.6%, the best level in the same period in history.
At the same time, the central enterprises insisted on living tight, managing management, and controlling costs. In the first half of the year, financial expenses fell by 6.4% year-on-year.
At the end of June, the overall asset-liability ratio of central enterprises was 64.9%, a year-on-year decrease of 1 percentage point.
The development momentum is even stronger.
In the first half of the year, central SOEs invested 321 billion yuan in R&D expenditures, a year-on-year increase of 37.4%, and the intensity of R&D expenditures increased by 0.12 percentage points year-on-year; fixed asset investment increased steadily, with a total investment of 1.1 trillion yuan (excluding real estate) completed, a year-on-year increase of 10.5 %, an average increase of 8.7% in two years.
Ensure the completion of 70% of the state-owned enterprise reform three-year action tasks this year
This year is a critical year for the implementation of the three-year reform of state-owned enterprises, and we must strive to complete more than 70% of the overall reform tasks.
At the meeting, Peng Huagang analyzed the main characteristics of the work related to the promotion of the three-year action:
The first is systematic advancement.
Through the issuance of the reform work ledger, the three-year action tasks were subdivided into 337 specific measures.
Central enterprises and various localities have also formulated work ledgers accordingly, proposing 11,913 and 3679 reform measures, respectively, to realize the refinement, actualization, and concretization of reform tasks.
Using the work ledger as a starting point, the military order system and the first responsible person system have been established at all levels to tighten and compact responsibilities.
The second is penetrating advancement.
Extensively promote the inventory of reform measures and the time limit of reform tasks, and establish a work promotion mechanism of "monthly regular meetings, quarterly comprehensive, semi-annual reports, and annual summaries."
The monthly regular meetings directly cover important secondary and tertiary sub-enterprises through remote video connections, opening up the "last mile" of reform.
The third is quantitative supervision.
An online supervision system was established to form 94 collection indicators and 26 calculation indicators for central enterprises, and 79 collection indicators and 34 calculation indicators for local governments to summarize the completion of key tasks on a monthly basis.
At present, the separation and transfer of the "three supplies and one industry", the collective reform of the factory and the management of retirees, and the social management of retirees have all entered the final stage. The stripping of the corporate social functions and the resolution of historical problems will soon be completed.
Focusing on the "Two Benefits and Four Rates" system, and strive to achieve the annual goal
This year, the State-owned Assets Supervision and Administration Commission put forward a "two benefits and four ratios" assessment indicator system including net profit, total profit and operating income profit rate, R&D investment intensity, overall labor productivity, and asset-liability ratio.
"The'Two Benefits and Four Rates' is a target system based on the realization of high-quality development of central enterprises. In order to promote the implementation of the goals, the SASAC has carried out various work." Peng Huagang introduced that it will comprehensively use various methods such as budget guidance, assessment and incentives, etc. Promote the “two benefits and four rates” of central enterprises to achieve “two highs, three increases and one stability”, that is, the growth rate of net profit and total profit is higher than the growth rate of the national economy, and the profit margin of operating income, the intensity of R&D investment and the labor productivity of all employees have increased significantly. The debt-to-asset ratio remains stable and controllable.
Our reporter Liu Zhiqiang