National Bureau of Statistics data released on April 27 showed that from January to March, industrial enterprises above the designated size achieved a total profit of 1,696.04 billion yuan, a year-on-year increase of 15.5%. Among them, the chemical raw material and chemical product manufacturing sector saw profits grow by 54.5%, while the oil and natural gas extraction industry experienced a 1.4% decline in profits.
During the January–March period, state-controlled enterprises reported total profits of 619.61 billion yuan, up 10.1% year-on-year. Shareholding enterprises realized profits of 1,305.46 billion yuan, an increase of 20.9%. Enterprises with foreign, Hong Kong, Macao, or Taiwanese investment recorded total profits of 383.73 billion yuan, rising by 1.2%. Private enterprises achieved profits of 430.53 billion yuan, growing by 25.4%.
By sector, the mining industry posted total profits of 256.33 billion yuan, up 16.2% year-on-year. The manufacturing sector’s profits reached 1,238.43 billion yuan, increasing by 19.1%. The production and supply of electricity, heat, gas, and water reported profits of 201.28 billion yuan, down 3.2%.
Key industry performances in the first three months were as follows: profits in the computer, communication, and other electronic equipment manufacturing sector doubled year-on-year; nonferrous metal smelting and rolling processing also doubled; chemical raw material and chemical product manufacturing rose by 54.5%; coal mining and washing increased by 6.7%; petroleum, coal, and other fuel processing turned losses into profits; electrical machinery and equipment manufacturing remained flat; oil and natural gas extraction dropped by 1.4%; general equipment manufacturing declined by 1.9%; production and supply of electricity and heat fell by 3.4%; agricultural and sideline food processing decreased by 6.0%; textile industry dropped by 7.8%; specialized equipment manufacturing fell by 8.2%; automobile manufacturing decreased by 17.7%; non-metallic mineral products industry declined by 42.6%; and ferrous metal smelting and rolling processing shifted from profit to loss.
From January to March, industrial enterprises above the designated size achieved operating revenue of 33.19 trillion yuan, up 5.0% year-on-year, while operating costs amounted to 28.19 trillion yuan, an increase of 4.5%. The profit margin on operating revenue was 5.11%, up 0.46 percentage points from the same period last year.
At the end of March, the total assets of industrial enterprises above the designated size stood at 190.50 trillion yuan, a year-on-year increase of 5.3%. Total liabilities reached 110.19 trillion yuan, up 5.5%, while total owner’s equity was 80.31 trillion yuan, rising by 5.1%. The asset-liability ratio was 57.8%, unchanged from a year earlier.
Accounts receivable of industrial enterprises above the designated size amounted to 27.03 trillion yuan at the end of March, up 6.7% year-on-year. Finished goods inventory stood at 6.78 trillion yuan, increasing by 5.2%.
In the first three months, the cost per 100 yuan of operating revenue for these enterprises was 84.93 yuan, a decrease of 0.40 yuan from the same period last year. Expenses per 100 yuan of operating revenue were 8.50 yuan, down 0.01 yuan.
By the end of March, operating revenue per 100 yuan of assets was 70.1 yuan, a decrease of 0.2 yuan year-on-year. Revenue per capita was 1.849 million yuan, an increase of 105,000 yuan. The turnover days of finished goods inventory were 21.5 days, up 0.3 days year-on-year. The average accounts receivable collection period was 72.6 days, an increase of 1.3 days.
In March alone, profits of industrial enterprises above the designated size increased by 15.8% compared to the same month last year.
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