Industrial enterprises above the designated size earned a total profit of 1,297.2 billion yuan in the january-march period, down 3.3 percent from the same period last year, the national bureau of statistics (NBS) said Wednesday. The decline was 10.7 percentage points smaller than that in the january-february period.In march, the total profit of industrial enterprises above the designated size rose 13.9 percent year on year.
In the first three months of this year, 28 of the 41 major industrial sectors saw their profits increase year on year, while 13 saw declines.Among them, the special equipment manufacturing industry profit up 32.8% from a year earlier, electrical machinery and equipment manufacturing growth 21.2%, general equipment manufacturing growth of 18.4%, a 54.5% drop in fuel oil, coal and other processing industry, ferrous metal smelting and rolling processing industry fell by 44.5%, a 25% drop in auto manufacturing, chemical raw materials and chemical products manufacturing fell by 17.8%.
From January to march, the profit margin of industrial enterprises above designated size was 5.31%, which was 0.58 percentage point lower than that of the previous year.The cost per hundred yuan of operating revenue was 84.39 yuan, an increase of 0.41 yuan year-on-year.The expense per hundred yuan of operating income was 8.77 yuan, an increase of 0.06 yuan year-on-year.
The term “industrial enterprise with a scale above” refers to an industrial legal entity with an annual income of 20 million yuan or above from its main business.
Zhu hong, a senior statistician at the national bureau of statistics’ industrial division, said in his interpretation of industrial profit data for the first quarter of this year that the acceleration of production and sales growth and the stabilization and recovery of prices have contributed to the apparent rebound of industrial profit growth in China.
In terms of production and sales, the added value of industries above designated size increased by 8.5% year-on-year in March, 3.2 percentage points faster than in the first two months of this year.Operating income of industrial enterprises increased by 13.7% year-on-year, 10.4 percentage points faster than that of january-february.
In terms of prices, producer prices rose 0.4 percent year-on-year in March, up 0.3 percentage point from January to February.Industrial producer purchase prices rose 0.2 percent from a year earlier, 0.1 percentage point higher than the january-february period.According to preliminary calculations by the national bureau of statistics, the price changes increased industrial profits by about 26.8 billion yuan year-on-year, contributing 4.5 percentage points more to profit growth than in the first two months of this year.
In terms of specific industries, automobile, petroleum processing, steel, chemical industry and other key industries have significantly warmer profits.According to zhu hong’s analysis, in March, due to the influence of price reduction, new model launch and other factors, automobile production and sales have recovered, and the profit of automobile manufacturing industry increased by 1.0% year on year, reversing the 42.0% year-on-year decline of profit in january-february.Oil processing, steel and chemical industry profits fell 13.9 percent, 15.2 percent and 3.2 percent year-on-year, down 56.5 percent, 43.8 percent and 24.0 percentage points, respectively, due to the rebound in industrial prices.The profit growth rate of industrial enterprises above the designated size increased by 12.8 percentage points from January to February.
The data reflects the improvement of the benefit of China’s industrial enterprises in the first quarter from four aspects.Zhu hong analysis, the first unit cost from rising to falling.In march, the cost per hundred yuan of operating income of industrial enterprises above a certain scale was 92.90 yuan, down 0.07 yuan year-on-year, and up 0.81 yuan year-on-year in january-february.
Leverage continues to decline.At the end of march, the asset-liability ratio of industrial enterprises above designated size was 57.0 percent, down 0.2 percentage points from a year earlier, she said.Among them, the asset-liability ratio of state-holding enterprises was 58.7%, down 0.8 percentage points year-on-year.
Finished goods inventory turnover is also relatively fast.At the end of march, the turnover days of finished goods inventory of industrial enterprises above the scale were 17.3 days, 0.8 days less than the same period last year.
“Profitability has picked up.”Zhu hong said that in March, the operating profit margin of industrial enterprises above a certain scale was 6.13 percent, up 0.01 percentage point year-on-year, reversing the sharp decline in January and February, reflecting signs of improving profitability of industrial enterprises.
Post time: Jul-08-2019