Profits of industrial enterprises in the first half of the year grew steadily and rapidly
——Zhu Hong, a senior statistician from the Department of Industry of the National Bureau of Statistics, interprets the profit data of industrial enterprises
2021In the first half of the year, as the national economy stabilized and strengthened, industrial production demand steadily recovered, business operations continued to improve, and corporate profits grew steadily and rapidly.
1. The profits of industrial enterprises have grown steadily and rapidly
In the first half of the year, the profits of industrial enterprises above designated size increased year-on-year66.9%,Compare2019Year-on-year growth45.5%; Two-year average growth20.6%(by2019The year-on-year number is the base, calculated using the geometric average method), maintaining a relatively rapid growth.Among them, the profit of industrial enterprises above designated size increased year-on-year in the second quarter36.0%,Compare2019Year-on-year growth42.5%, Two-year average growth19.4%。
Profits in various industries have generally grown rapidly, and 70% of the industry profits have exceeded the level before the epidemic.In the first half of the year,41Among the major industrial sectors, there are40The profit of each industry increased year-on-year (or turned from loss to profit),1All industries were flat year-on-year.Including36The profits of each industry achieved double-digit and above growth, accounting for87.8%;have7Industries are growing faster than100%.and2019Compared with the same period of the year, there are29Profit growth in each industry, accounting for70.7%。
The profits of upstream mining and raw material manufacturing companies have increased significantly.In the first half of the year, the profits of the mining industry and the raw material manufacturing industry increased year-on-year respectively1.33Times,1.83Times, the total contribution rate to the growth of industrial profits above designated size is58.9%, The two-year average growth rate of profit is16.5%、35.8%.Under the combined effect of factors such as economic improvement, expanding demand, rising prices, and a low base in the same period last year, the profits of the chemical, steel, and coal industries increased year-on-year.1.77Times,2.34Times,1.14Times, the oil processing industry has turned from a loss in the same period last year to a profit for the current period.4The total of all industries drove the year-on-year growth of industrial profits above designated size29.1Percentage points.
Profits of high-tech and equipment manufacturing industries maintained rapid growth.In the first half of the year, the profit of high-tech manufacturing increased year-on-year62.0%; Two-year average growth36.2%, Faster than the average level of industries above designated size15.6Percentage points, driving the two-year average growth of industrial profits above designated size5.6Percentage points.Year-on-year growth in equipment manufacturing profits39.5%, Two-year average growth18.3%.The proportions of high-tech and equipment manufacturing profits in industries above designated size are respectively18.3%、30.8%, Increased respectively from the first quarter1.5and0.7Percentage points.Benefiting from favorable factors such as improved market demand, increased corporate orders, strong demand for liquid crystal panel integrated circuits and containers, the profits of the electronics, automobiles, electrical machinery, general equipment, and metal products industries have increased year-on-year34%—53%,above5The total of all industries drove the year-on-year growth of industrial profits above designated size12.7Percentage points.
The recovery of profits in the consumer goods manufacturing industry has accelerated.In the first half of the year, the profit of the consumer goods manufacturing industry increased year-on-year38.6%; Two-year average growth17.0%, Faster than the first quarter1.6Percentage points, the recovery momentum has been further consolidated.Among them, the profit of the pharmaceutical manufacturing industry increased year-on-year due to the expansion of anti-epidemic assets such as the new crown vaccine and testing reagents and the increase in production.88.8%; Two-year average growth38.8%, Faster than the first quarter12.7Percentage points.The profit of the chemical fiber and food manufacturing industries increased on average in two years68.3%、7.2%, Faster than the first quarter6.0、2.1Percentage points.The two-year average decline in textile industry profits is narrower than the first quarter5.6Percentage points.
2. Continuous improvement of business conditions
Revenue growth is faster than costs, and corporate profitability continues to improve.In the first half of the year, the operating income of industrial enterprises above designated size increased year-on-year27.9%, The growth rate is faster than the total of operating costs and expenses respectively1.5and9.2Percentage points.The unit cost and expenses have both decreased year-on-year, and the cost per hundred yuan of operating income has decreased year-on-year0.98Yuan, of which, the mining industry and the raw material manufacturing industry decreased respectively6.79Yuan,2.64Yuan; the cost of operating income per hundred Yuan decreased year-on-year0.65Yuan.Operating income profit rate of industrial enterprises above designated size7.11%, Increased year-on-year1.66Percentage points, an increase from the first quarter0.47Percentage points.
The number of loss-making enterprises has decreased, and the amount of loss has decreased.6At the end of the month, the loss of industrial enterprises above designated size was22.5%, Shrinking year-on-year2.4Percentage points, more than3Shrink at the end of the month4.6Percentage points; in the first half of the year, the loss of loss-making enterprises decreased year-on-year23.5%. The loss of enterprises has improved significantly compared with the same period last year.
The growth rate of accounts receivable continued to fall, and the inventory turnover of finished products accelerated.6At the end of the month, the accounts receivable of industrial enterprises above designated size increased year-on-year13.1%,Compare5Fall back at the end of the month1.0Percentage points, continuous3Month down.The average payback period of accounts receivable is51.4Days, year-on-year decrease5.9Days, better than3Decrease at the end of the month2.4sky.Finished goods inventory turnover days is17.4Days, year-on-year decrease2.5Days, better than3Decrease at the end of the month0.9sky.
The asset-liability situation has improved and the development of the company has become more stable.6At the end of the month, the assets of industrial enterprises above designated size increased year-on-year9.3%, The increase in owner’s equity10.3%, Both achieved rapid growth.The asset-liability ratio of industrial enterprises above designated size56.5%, A year-on-year decrease0.4Percentage points.Among them, the asset-liability ratio of state-owned holding companies57.0%, A year-on-year decrease0.5Percentage points.
Overall, the profits of industrial enterprises recovered steadily in the first half of the year, and their operating conditions continued to improve. However, it should also be noted that the imbalance in the recovery of corporate benefits still exists, the recovery of profits of private and small and micro enterprises has been relatively slow, the continued high commodity prices have squeezed corporate profitability, and the supply chain of the industrial chain still has shortcomings. In the next step, we must thoroughly implement the decisions and deployments of the Party Central Committee and the State Council, maintain the continuity, stability, and sustainability of macroeconomic policies, continue to deepen supply-side structural reforms, vigorously support the development of the real economy, and further ensure supply and price stabilization to help enterprises Relieve difficulties and promote the sustainable and healthy development of the industrial economy.