Revenue has rebounded for five consecutive months, and profits have grown for four consecutive months. The profit growth of industrial companies has accelerated significantly.
As the effects of macroeconomic policies continue to emerge, the profit growth of my country’s industrial enterprises has accelerated significantly. In the first 11 months, the profits of industrial enterprises above designated size nationwide fell by 4.4% year-on-year, 3.4 percentage points narrower than the previous 10 months, continuing the monthly narrowing trend since March, and the profit decline narrowed to less than 5% for the first time this year. Judging from the month of November, the profits of industrial enterprises have accelerated. In addition, investment income has been relatively concentrated in the accounts. In November, the profits of industrial enterprises above designated size increased by 29.5% year-on-year. The growth rate was significantly faster than that in October. Profits have achieved positive growth for 4 consecutive months.
“Industrial production has accelerated its recovery, and the level of connection between production and sales has improved year-on-year, driving the continued improvement of corporate revenue.” Yu Weining, a statistician at the Industrial Department of the National Bureau of Statistics, said that in the first 11 months, the operating revenue of industrial enterprises above designated size increased by 1% year-on-year, and the growth rate An increase of 0.7 percentage points compared with the previous 10 months. Among them, the operating income of industrial enterprises above designated size increased by 6.1% year-on-year in November, and the growth rate accelerated by 3.6 percentage points compared with October. It has rebounded for five consecutive months, effectively driving corporate profit growth.
In the first 11 months, nearly 60% of industries saw profit growth, and 80% of industries saw profit growth rebound. Among the 41 major industrial sectors, 24 industries saw a year-on-year profit growth, with a profit growth rate of 58.5%, an expansion of 14.6 percentage points from the previous 10 months; 33 industries saw a faster or slower profit growth than the previous 10 months. Narrow, from decline to increase, the profit recovery rate was 80.5%, an expansion of 7.3 percentage points compared with the previous 10 months.
Zhou Maohua, a macro researcher at the Financial Markets Department of China Everbright Bank, believes that the revenue and profits of industrial enterprises above designated size increased in November, reflecting the continued improvement in the overall operating conditions of the industrial sector. Industrial revenue has expanded for five consecutive months, net profit has increased for four consecutive months, market demand has continued to pick up, and corporate premium capabilities have slightly improved, driving the profits of industrial companies to rebound. More than 80% of industries have seen a rebound in profit growth, indicating a broader recovery in the industrial sector.
From the perspective of specific industries, the profit growth of the equipment manufacturing industry has accelerated and the pulling effect has been strengthened; the profit decline of the raw material industry has significantly narrowed, making a greater contribution to the improvement of industrial profits above designated size; the profit growth of the electrical and water industry continues to accelerate. In the first 11 months, the profits of the equipment manufacturing industry increased by 2.8% year-on-year, and the growth rate was 1.7 percentage points faster than the previous 10 months, driving the industrial profits above designated size to increase by 0.9 percentage points, an increase of 0.6 percentage points from the previous 10 months. Among them, the profits of the equipment manufacturing industry in November turned from falling to increasing, with a growth rate of 16.2%. In the first 11 months, the year-on-year decline in profits of the raw material manufacturing industry narrowed by 8.5 percentage points compared with the previous 10 months, driving the decline in industrial profits above designated size to narrow by 1.8 percentage points, making it the industry sector that contributed the most. The profits of the electricity, heat, gas and water production and supply industry increased by 47.3% year-on-year, and the growth rate accelerated by 7.3 percentage points compared with the previous 10 months. Among them, driven by factors such as the continued improvement of the macro-economy and guaranteed power supply during the winter peak, the growth of electricity generation and sales accelerated significantly. Added to factors such as year-on-year decreases in fuel prices and cost reductions, the profits of the electricity and heat production and supply industry increased by 58.2%.
In terms of enterprise types, the profits of different types of enterprises have improved, and the profits of private enterprises have increased from a decrease. In the first 11 months, among industrial enterprises above designated size, the year-on-year decline in profits of state-controlled, foreign and Hong Kong, Macao and Taiwan-invested enterprises narrowed 3.7 percentage points and 1.5 percentage points respectively compared with the previous 10 months; profits of private enterprises increased by 1.6%, the first time this year. The decline turned to increase; the profit decline of large, medium and small enterprises narrowed by 3.0 percentage points, 2.8 percentage points and 4.7 percentage points respectively.
Enterprise production and sales are accelerating, and economies of scale continue to increase, helping enterprises to reduce unit costs and increase profit margins. In November, the cost per 100 yuan of operating income of industrial enterprises above designated size was 83.92 yuan, a year-on-year decrease of 0.62 yuan, and a year-on-year decrease for 5 consecutive months; the operating income profit margin was 7.15%, a year-on-year increase of 1.29 percentage points, and a year-on-year decrease for 4 consecutive months. improve.
Yu Weining said that in the next stage, we must thoroughly implement the spirit of the Central Economic Work Conference, focus on expanding domestic demand, stimulate the vitality of various business entities, vigorously promote new industrialization, continuously enhance endogenous power, continue to consolidate the foundation for industrial economic recovery, and further promote The industrial economy is picking up and improving. (Reporter Xiong Li)
2023-12-28 02:02:39
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