1—7Profits of industrial enterprises fell slightly in the month
——Zhu Hong, senior statistician of the Industrial Department of the National Bureau of Statistics, interprets the profit data of industrial enterprises
1—7The changes in the profits of industrial enterprises in the month showed the following main characteristics:
First, the revenue of industrial enterprises grew rapidly, while the profit declined slightly.1—7In March, the operating income of industrial enterprises above designated size increased year-on-year8.8%maintained rapid growth; corporate profits fell year-on-year1.1%the first half of the year was growth1.0%.By industry, in41Among the industrial categories, there are16The profits of each industry increased year-on-year, accounting for39.0%the same as the first half of the year, of which14industry profit growth5%that’s all.
Second, the profits of the equipment manufacturing industry continued to recover, and the profits of the automobile industry recovered rapidly. Benefiting from favorable factors such as the continuous recovery of the industrial chain and the supply chain, the reduction and exemption of vehicle purchase tax policies to boost consumer demand and other favorable factors,1—7In March, the profit of equipment manufacturing industry fell year-on-year5.7%but the decline narrowed compared with the first half of the year2.1percent.7In March, the profit of equipment manufacturing industry increased year-on-year6.8%faster than6month to speed up2.7percent, continuous3month to pick up. By industry,7In March, auto manufacturing profits rose year-on-year77.8%faster than6month to speed up30.1It is one of the industries with the fastest profit growth; the profits of railway ships and other transportation equipment and electrical machinery industries increased respectively29.6%、25.6%both achieved rapid growth; general equipment manufacturing profits increased5.9%the growth rate accelerated0.9percent.
Third, the mining industry continued to support the profit growth of industrial enterprises, and the profit of the power industry improved significantly. With the continuous efforts to ensure energy supply during peak summer, coal and crude oil production and power generation have achieved rapid growth, which has led to an increase in the profits of related industries.1—7Mining profits up year-on-year in month1.05times, driving the profit growth of industrial enterprises above designated size10.3percentage points; the decline in profits of electricity, heat, gas and water production and supply industries narrowed compared with the first half of the year5.6%, the profit improvement is more obvious.In terms of different industries, the profits of coal mining and oil and gas mining industries increased respectively1.41times,1.19times, continued to maintain high-speed growth; the profit decline of the power industry narrowed compared with the first half of the year7.3percent.
Fourth, the profit decline of the raw material industry expanded due to multiple factors.1—7In March, the profit of raw material manufacturing industry fell year-on-year21.6%the decline was wider than the first half of the year7.6percentage points, affecting the profit growth rate of industrial enterprises above designated size, which was lower than that in the first half of the year2.2It is the industry sector that pulls down the most profit growth rate of industrial enterprises.In terms of different industries, due to factors such as the downturn in the real estate market, insufficient demand in the steel industry, and high cost pressure, the profit of the steel industry decreased year-on-year.80.8%the decline was wider than the first half of the year12.1Affected by factors such as lower refined oil prices and undigested inventories of high-priced crude oil, the profits of the petroleum processing industry declined44.0%the decline widened11.6percent. In addition, the decline in profits of the building materials industry has expanded, and the growth rate of profits in the chemical and non-ferrous smelting industries has slowed down.
Fifth, the effect of price changes on the profit growth of industrial enterprises has weakened. Since the beginning of this year, the increase in the ex-factory price of industrial products has dropped month by month.7monthPPIYear-on-year increase4.2%the increase was lower than the previous month1.9percent. The price increase of industrial products gradually fell from a high level, and the stimulating effect on the growth of industrial enterprises’ income and profits gradually weakened.According to preliminary calculations, the price increase has fallen due to factors1—7The growth rate of profits of industrial enterprises above designated size in the month was lower than that of the first half of the year2.3percent.
In general, the benefits of industrial enterprises continue to recover, but due to various factors, corporate profits have declined slightly, cost levels are still high, market demand in some industries has become prominent, and operating pressure has increased. Hard work is still needed for the sustained and stable recovery of the industrial economy. In the next stage, we must resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, efficiently coordinate epidemic prevention and control and economic and social development, maintain a stable and smooth industrial chain and supply chain, actively expand effective investment, continuously release consumption potential, and increase efforts to help enterprises. The benefits of industrial enterprises continue to recover and create favorable conditions.