China News Network, March 3 According to the website of the National Bureau of Statistics on the 27th, from January to February 27, industrial enterprises above designated size in the country achieved a total profit of 2023.1 billion yuan, down 2.8872% year-on-year.

From January to February, among industrial enterprises above designated size, state-controlled enterprises achieved a total profit of 1.2 billion yuan, down 3449.1% year-on-year; The total profit of joint-stock enterprises was 17.5 billion yuan, down by 6719.0%; Foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan invested achieved a total profit of MOP19.4 billion, down by 1761.3%; The total profit of private enterprises reached 35.7 billion yuan, down by 2559.3%.

From January to February, the total profit of the mining industry was 1.2 billion yuan, down 2343.7% year-on-year; The total profit of the manufacturing industry was 0.1 billion yuan, down by 5837.8%; The production and supply of electricity, heat, gas and water achieved a total profit of MOP32.6 billion, up by 690.6%.

From January to February, among the 1 industrial industries, the total profit of 2 industries increased year-on-year, 41 industry reduced losses, 10 industries declined, and 1 industries turned from profit to loss. The profits of major industries are as follows: the total profit of electric power, heat production and supply industry increased by 28.2% year-on-year, electrical machinery and equipment manufacturing increased by 53.1%, oil and gas extraction industry increased by 41.5%, general equipment manufacturing industry increased by 8.6%, coal mining and washing industry decreased by 0.2%, agricultural and sideline food processing industry decreased by 2.3%, special equipment manufacturing industry decreased by 6.3%, textile industry decreased by 8.9%, non-metallic mineral products industry decreased by 37.1%, automobile manufacturing industry decreased by 39.2% , chemical raw materials and chemical products manufacturing industry fell 41.7%, non-ferrous metal smelting and rolling processing industry fell 56.6%, computer, communication and other electronic equipment manufacturing industry fell 57.2%, petroleum, coal and other fuel processing industry, ferrous metal smelting and rolling processing industry all turned from profits to losses.

From January to February, industrial enterprises above designated size achieved operating income of 1.2 trillion yuan, down 19.30% year-on-year; Operating costs were 1.3 trillion yuan, down 16.38%; The operating income margin was 0.2%, down 4.60 percentage points year-on-year.

At the end of February, the assets of industrial enterprises above designated size totaled 2.156 trillion yuan, a year-on-year increase of 50.8%; total liabilities amounted to 2.88 trillion yuan, an increase of 91.8%; The total owner's equity was 7.67 trillion yuan, an increase of 60.7%; The asset-liability ratio was 6.56%, up 8.0 percentage points year-on-year.

At the end of February, the accounts receivable of industrial enterprises above designated size was 2.21 trillion yuan, a year-on-year increase of 23.10%; The inventory of finished products was 9.5 trillion yuan, an increase of 99.10%.

From January to February, the cost per hundred yuan of operating income of industrial enterprises above designated size was 1.2 yuan, an increase of 84.86 yuan year-on-year; the cost of each hundred yuan of operating income was 0.90 yuan, an increase of 8.51 yuan year-on-year.

At the end of February, the operating income of industrial enterprises above designated size per 2 yuan of assets was 74.0 yuan, a year-on-year decrease of 7.1 yuan; the per capita operating income was 158.0 million yuan, an increase of 0,6 yuan year-on-year; the number of days of inventory turnover of finished products was 21.9 days, an increase of 2.1 days year-on-year; and the average recovery period of accounts receivable was 66.0 days, an increase of 7.3 days year-on-year.

Picture from the website of the National Bureau of Statistics

Sun Xiao, a statistician from the Department of Industry of the National Bureau of Statistics, said that from January to February, the profits of industrial enterprises fell year-on-year, mainly showing the following characteristics:

First, many factors affect the decline in profits of industrial enterprises. From January to February, affected by many factors such as volume and price, the total profit of industrial enterprises above designated size in the country fell by 1.2% year-on-year. First, from the perspective of income, although industrial production has rebounded, but market demand has not fully recovered, enterprise operating income fell by 22.9% year-on-year, the decline was 1.3 percentage points larger than in December of the previous year; second, from the perspective of cost, the decline in revenue was greater than the cost reduction, resulting in a decline in gross profit of enterprises, pulling down industrial profits by 12.1 percentage points; third, from the price point of view, PPI was affected by the high base of the same period, from January to February fell by 0.18% year-on-year, the decline was expanded compared with December of the previous year, which put greater pressure on corporate profits. Affected by the above factors, the profits of raw materials and equipment manufacturing industry fell significantly, pulling down industrial profits by 6.1 and 2.1 percentage points respectively.

Second, the profits of the power industry continued to grow rapidly, and the mining industry maintained a high level of profitability. From January to February, as industrial production continued to recover, electricity demand increased, and power generation continued to grow, driving the profit of the power industry to increase by 1.2% year-on-year, continuing the rapid growth trend. The mining industry was affected by the high base of the previous year, and the profit fell by 53.1% year-on-year, and from the two-year average, the profit increased by 0.1% on average, and the corporate profit situation was still better than that of the downstream industry. Among them, the profits of non-ferrous metal ore, oil and gas mining and non-metallic ore industry increased by 52.2%, 30.3% and 8.6% respectively year-on-year.

Third, the profit decline in the consumer goods manufacturing industry narrowed. From January to February, consumer demand continued to pick up, and the efficiency of consumer goods manufacturing showed positive changes, and corporate profits fell by 1.2% year-on-year, a decline of 8.0 percentage points from December last year. Among them, the profits of tobacco products and alcoholic beverages and tea industries increased by 12.13% and 4.9% respectively year-on-year; The profit declines of the pharmaceutical, cultural, educational, industrial and aesthetic and leather footwear industries were 6.2, 4.12 and 36.9 percentage points lower than in December last year, respectively.

Fourth, the profits of the new kinetic energy industry have grown rapidly. From January to February, the electrical machinery industry was driven by power batteries, photovoltaic equipment and other products, and its profits increased by 1.2% year-on-year, continuing to maintain a rapid growth trend; The railway, ship, aerospace transportation equipment industry was driven by marine engineering equipment and electric bicycle manufacturing, and its profit increased by 41.5% year-on-year.

In the next stage, as the order of production and life returns to normal, market demand gradually recovers, the level of production and marketing connection increases, the impact of base effect weakens, and the profits of industrial enterprises will gradually recover. (Zhongxin Finance)