Industrial Profits Increased in 2016

In 2016, the profits made by industrial enterprises above the designated size achieved 6,880.32 billion yuan, an increase of 8.5 percent over last year.

In 2016, the profits of state-holding industrial enterprises above the designated size gained 1,175.11 billion yuan, increased by 6.7 percent year-on-year; that of collective-owned enterprises reached 47.69 billion yuan, a decrease of 4.2 percent; that of joint-stock enterprises stood at 4,719.68 billion yuan, up by 8.3 percent; that of foreign funded enterprises, and enterprises funded from Hong Kong, Macao and Taiwan achieved 1,735.19 billion yuan, increased by 12.1 percent; and that of private enterprises gained 2,432.53 billion yuan, an increase of 4.8 percent.

In 2016, the profits of mining and quarrying reached 182.52 billion yuan, a decrease of 27.5 percent year-on-year; that of manufacturing was 6,239.76 billion yuan, an increase of 12.3 percent; that of production and distribution of electricity, heat, gas and water reached 458.04 billion yuan, down by 14.3 percent.

In 2016, within 41 branches of industrial divisions, the industrial profits of 29 industrial divisions increased year-on-year, that of 1 remained at the same level, and that of 11 decreased. In view of the profit growth of major industries, the profits of mining and washing of coal increased by 2.2 times, that of processing of food from agricultural products increased by 5.5 percent, that of manufacture of textile up by 3.5 percent, that of processing of petroleum, coking, processing of nucleus fuel increased by 1.6 times, that of manufacture of chemical raw material and chemical products increased by 10.7 percent, that of manufacture of non-metallic mineral products increased by 11.2 percent, that of manufacture and processing of ferrous metals increased by 2.3 times, that of manufacture and processing of non-ferrous metals increased by 42.9 percent, that of manufacture of general-purpose machinery up by 0.2 percent, that of manufacture of special-purpose machinery up by 2.1 percent, that of manufacture of motor vehicles increased by 10.8 percent, that of manufacture of electrical machinery and equipment increased by 12.6 percent, that of manufacture of computer, communication equipment and other electronic equipment increased by 12.8 percent, that of production and supply of electric power and heat power down by 17.5 percent, extraction of petroleum and natural gas turned profits in the same period into losses.

In 2016, the revenue from principal activities of industrial enterprises above the designated size reached 115.2 trillion yuan, increased by 4.9 percent year-on-year. The costs of principal activities were 98.5 trillion yuan, up by 4.8 percent. The profit rate of revenue from principal activities was 5.97 percent.

By the end of 2016, the total assets of industrial enterprises above the designated size was 106.8 trillion yuan, increased by 7.1 percent year-on-year; the total liabilities reached 59.6 trillion yuan, increased by 6.3 percent; the total owners' equity was 47.2 trillion yuan, increased by 8.2 percent. The asset-liability ratio was 55.8 percent.

By the end of 2016, the total volume of receivable accounts for industrial enterprises above designated hit 12.6 trillion yuan, went up by 9.6 percent year-on-year. The total value of finished products for industrial enterprises accounted for 3,975.21 billion yuan, increased by 3.2 percent.

In 2016, the costs for per-hundred-yuan turnover of principal activities stood at 85.52 yuan, the revenue from principal activities brought by per hundred yuan assets was 113.7 yuan, the revenue from principal activities per capita was 1253 thousand yuan, the turnover days of finished goods were 13.8 days, and the days sales outstanding hit an average of 36.5 days.

In December 2016, the profits made by industrial enterprises above the designated size achieved 844.35 billion yuan, a year-on-year increase of 2.3 percent, and the growth rate decreased by 12.2 percentage points over November.

Note: Due to the overlap of economic type grouping, the total is not equal to the total of sub-items.

Annotations:

1. Explanatory Notes:

Total Profits: refer to the surplus of various revenue deducting various costs in the production process of  enterprises, reflecting the total profit and loss in the report period.

Revenue from Principal Activities: refers to total revenue of enterprises gained from principal business operation.

Costs of Principal Activities: refers to the total costs of enterprises incurred by principal business operation.

Total Assets: refers to the resources which are gotten from past transactions or events, owned or controlled by enterprises, and expected to bring economic benefits to the enterprises.

Total Liabilities: refers to the current obligation generated from past transactions or events, and expected an outflow of economic benefits from the enterprises.

Total Owners' Equity: refers to the residual interests after deducting liabilities, which belongs to the enterprises owners.

Accounts Receivable: refers to the creditor's rights due to the sale of goods, services, and other business activities, including the payment for goods, value-added tax, prepay freight and miscellaneous charges, to be collected from the customers.

Finished Goods: refers to manufactured products which are ready for sale by the end of report period.

Profit Rate of Revenue from Principal Activities = total profits / revenue from principal activities × 100%, unit: %.

Costs for per-hundred-yuan Turnover of Principal Activities = the costs of revenue from principal activities / the revenue from principal activities ×100, unit: yuan.

Revenue from Principal Activities  Brought by per Hundred yuan Assets =  the revenue from principal activities / average assets / the cumulative number of months × 12 × 100, unit: yuan.

Revenue from Principal Activities per Capita = revenue from principal activities / average number of employment / the cumulative number of months × 12, unit: 10 thousand yuan/ person.

Asset-Liability Ratio = total liabilities / total assets × 100%, unit: %.

Turnover Days of Finished Goods = 360 × average finished goods / costs of principal activities × the cumulative number of months / 12, unit: days.

Days Sales Outstanding (the number of days on average a company takes to collect its accounts receivable) = 360 ×average accounts receivable / revenue from principal activities ×the cumulative number of months / 12, unit: days.

In the columns of increase rate year-on-year of the three tables above, the “note” refers to negative total profits in the same period last year, which means loss; the positive value refers to a year-on-year increase of profits; the negative value which is greater than or equal to -100% refers to a year-on-year decrease of profits; the value less than -100% indicates turning gain in the same period last year into loss in current period; and the value of 0 indicates that the profits remain at the same level year-on-year.

As the range of industrial enterprises above the designated size changes every year, in order to ensure that the data of this year is comparable with that of last year, when calculating the year-on-year growth rate and growth amount of indicators, the statistical coverage of data in the same period is consistent with that of the current period, while is different with the data released last year.

2. Statistical Coverage

Industrial enterprises above the designated size, which refer to industrial enterprises with revenue from principal activities over 20 million yuan

3. Data Collection

The Financial Report of Enterprises Above the Designated Size conducts complete survey by month (the data on January are not required to report).

4. Industrial Classification Standard

The Industrial Classification for National Economic Activities (GB/T 4754-2011) was implemented, please refer to http://www.stats.gov.cn/tjsj/tjbz/hyflbz.