Industrial Profits Increased in the First Seven Months of 2018
National Bureau of Statistics of China2018-08-30 08:29




In the first seven months of 2018, the profits made by industrial enterprises above the designated size achieved 3,903.81 billion yuan, a year-on-year increase of 17.1 percent (calculated on comparable basis, taking into account the factors such as the standard adjustment according to the statistical programs, the enhancement of statistical law enforcement, the elimination of repeating data, and the divestiture of non-industrial production activities because of enterprise reform,  see the second part of Annotations for details.), and the growth rate decreased by 0.1 percentage point from the first six months.

 

In the first seven months, the profits of state-holding industrial enterprises above the designated size gained 1,191.32 billion yuan, an increase of 30.5 percent year-on-year; that of collective-owned enterprises reached 12.52 billion yuan, an increase of 4.1 percent; that of joint-stock enterprises stood at 2,780.10 billion yuan, up by 21.3 percent; that of foreign funded enterprises, and enterprises funded from Hong Kong, Macao and Taiwan achieved 942.24 billion yuan, increased by 7.5 percent; and that of private enterprises gained 1021.51 billion yuan, an increase of 10.3 percent.

 

In the first seven months, the profits of mining and quarrying reached 336.67 billion yuan, an increase of 54.3 percent year-on-year; that of manufacturing was 3,308.44 billion yuan, an increase of 14.3 percent; that of production and distribution of electricity, heat, gas and water reached 258.70 billion yuan, up by 17.8 percent.

 

In the first seven months, within 41 branches of industrial divisions, the industrial profits of 32 industrial divisions increased year-on-year, and that of 9 decreased. In view of the profit growth of major industries, the profits of mining and washing of coal increased by 18.0 percent year-on-year, that of extraction of petroleum and natural gas increased by 4.5 times, that of processing of food from agricultural products increased by 1.4 percent, that of manufacture of textile up by 0.2 percent, that of processing of petroleum, coal and other fuels increased by 36.1 percent, that of manufacture of chemical raw material and chemical products increased by 29.2 percent, that of manufacture of non-metallic mineral products increased by 45.2 percent, that of manufacture and processing of ferrous metals increased by 97.8 percent, that of manufacture of general-purpose machinery up by 9.0 percent, that of manufacture of special-purpose machinery up by 23.1 percent, that of manufacture of motor vehicles increased by 1.6 percent, that of manufacture of electrical machinery and equipment increased by 1.0 percent, that of manufacture of computer, communication equipment and other electronic equipment decreased by 0.9 percent, that of production and supply of electric power and heat power up by 19.6 percent, that of manufacture and processing of non-ferrous metals decreased by 9.8 percent.

 

In the first seven months, the revenue from principal activities of industrial enterprises above the designated size reached 60.5 trillion yuan, increased by 9.9 percent year-on-year. The costs of principal activities were 51.1 trillion yuan, up by 9.5 percent. The profit rate of revenue from principal activities was 6.46 percent, an increase of 0.40 percentage points year-on-year.

 

By the end of July, the total assets of industrial enterprises above the designated size was 110.1 trillion yuan, increased by 7.4 percent year-on-year; the total liabilities reached 62.3 trillion yuan, increased by 6.5 percent; the total owners' equity was 47.8 trillion yuan, increased by 8.6 percent. The asset-liability ratio was 56.6 percent, a decrease of 0.5 percentage points year-on-year.

 

By the end of July, the total volume of receivable accounts for industrial enterprises above designated hit 13.9 trillion yuan, went up by 11.5 percent year-on-year. The total value of finished products for industrial enterprises accounted for 4,241.07 billion yuan, increased by 9.5 percent.

 

In the first seven months, the costs for per-hundred-yuan turnover of principal activities stood at 84.45 yuan, a decrease of 0.35 yuan year-on-year; the expenses for per-hundred-yuan turnover of principal activities stood at 8.18 yuan, a decrease of 0.03 yuan; the revenue from principal activities brought by per hundred yuan assets was 96.1 yuan, an increase of 2.2 yuan; the revenue from principal activities per capita was 1276 thousand yuan, an increase of 142.0 thousand yuan; the turnover days of finished goods were 16.7 days, a decrease of 0.1 day; the days sales outstanding hit an average of 46.0 days, an increase of 0.3 days.

 

In July, the profits made by industrial enterprises above the designated size achieved 515.12 billion yuan, a year-on-year increase of 16.2 percent, and the growth rate decreased by 3.8 percentage points from June.

 

 

 

 

Key Financial Indicators of Industrial Enterprises

above the Designated Size in the First Seven Months of 2018

 

Table I

Indicators

 

 

Total Profits

Operating Income

Of which: Revenue from

Principal Activities

Jan-Jul (100 million yuan)

Increase rate Y/Y

(%)

Jan-Jul (100 million yuan)

Increase rate Y/Y

(%)

Jan-Jul (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

619128.9

10.0

604771.2

9.9

39038.1

17.1

Of which: Mining and Quarrying

27024.0

6.9

25693.0

7.6

3366.7

53.4

Manufacturing

551465.6

10.0

539018.7

9.9

33084.4

14.3

Production and Distribution of Electricity, Heat, Gas and Water

40639.3

11.7

40059.5

11.8

2587.0

17.8

 Of which: State-holding Enterprises

160856.1

10.9

154970.9

11.1

11913.2

30.5

Of which: Collective-owned Enterprises

2178.6

3.9

2137.6

4.3

125.2

4.1

        Joint-Stock Enterprises

444941.6

10.9

434302.4

10.9

27801.0

21.3

Enterprises with Funds From Hong Kong, Macao and Taiwan, and Foreign Funded Enterprises

139716.9

7.5

136512.6

7.2

9422.4

7.5

Of which: Private Enterprises

194391.6

9.8

191491.4

9.5

10215.1

10.3

 

 

 

 

 

 

 

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

 

Key Financial Indicators of Industrial Enterprises

above the Designated Size in the First Seven Months of 2018

 

Continued from Table I

 

Indicators

 

 

 

Operating Costs

Of which: Costs of Principal Activities

 

Jan- Jul (100 million yuan)

Increase rate Y/Y

(%)

Jan- Jul (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

523347.4

9.6

510730.2

9.5

 

Of which: Mining and Quarrying

19620.7

1.4

18349.8

2.1

 

Manufacturing

467598.7

9.8

456625.5

9.6

 

Production and Distribution of Electricity, Heat, Gas and Water

36128.0

11.6

35754.9

11.7

 

 Of which: State-holding Enterprises

130226.0

9.5

124993.5

9.8

 

Of which: Collective-owned Enterprises

1768.0

1.9

1733.2

2.0

 

        Joint-Stock Enterprises

375372.8

10.2

365804.3

10.2

 

Enterprises with Funds From Hong Kong, Macao and Taiwan, and Foreign Funded Enterprises

117843.8

7.6

115248.6

7.3

 

Of which: Private Enterprises

169788.7

9.8

167113.3

9.4

 

 

 

 

 

 

 

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

 

Quality Performance Indicators of Industrial Enterprises

above the Designated Size in the First Seven Months of 2018

 

 

Table II

Indicators

Profit Rate of Revenue from Principal Activities

Costs for per-hundred-yuan Turnover of Principal Activities

Expenses for per-hundred-yuan Turnover of Principal Activities

Revenue from Principal Activities Brought by per Hundred yuan Assets

Revenue from Principal Activities per Capita

Asset-Liability Ratio

Turnover Days of Finished Goods

Days Sales Outstanding

(%)

(yuan)

(yuan)

(yuan)

10 thousand yuan/ person

(%)

(days)

(days)

 

 

 

 

 

 

 

 

 

Total

6.46

84.45

8.18

96.1

127.6

56.6

16.7

46.0

Of which: Mining and Quarrying

13.10

71.42

11.64

47.0

84.5

59.0

14.7

36.3

Manufacturing

6.14

84.71

8.19

112.6

127.1

55.5

18.0

47.5

Production and Distribution of Electricity, Heat, Gas and Water

6.46

89.25

5.74

41.7

207.8

60.8

0.6

32.1

 Of which: State-holding Enterprises

7.69

80.66

8.03

62.3

184.5

59.4

15.9

41.1

Of which: Collective-owned Enterprises

5.86

81.08

13.45

82.2

105.0

65.4

39.0

39.8

        Joint-Stock Enterprises

6.40

84.23

8.21

94.6

127.5

57.6

17.0

42.8

Enterprises with Funds From Hong Kong, Macao and Taiwan, and Foreign Funded Enterprises

6.90

84.42

8.72

108.8

122.0

54.0

17.7

62.3

Of which: Private Enterprises

5.33

87.27

7.13

145.7

112.7

55.6

15.0

36.9

 

 

 

 

 

 

 

 

 

                   

 

Key Financial Indicators of Industrial Enterprises above the

Designated Size in the First Seven Months of 2018 (Group by Industries)

 

Table III

Indicators

 

 

Total Profits

Operating Income

Of which: Revenue from

Principal Activities

Jan- Jul (100 million yuan)

Increase rate Y/Y

(%)

Jan- Jul (100 million yuan)

Increase rate Y/Y

(%)

Jan- Jul (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

619128.9

10.0

604771.2

9.9

39038.1

17.1

Mining and Washing of Coal

14880.0

4.6

13763.6

5.9

1807.7

18.0

Extraction of Petroleum and Natural Gas

4750.9

20.7

4639.7

20.2

1049.0

446.4

Mining of Ferrous Metal Ores

1907.0

-2.5

1870.3

-2.7

53.2

-28.8

Mining of Non-Ferrous Metal Ores

2500.0

5.6

2466.1

5.8

293.3

15.7

Mining And Processing of Nonmetal Ores

2111.5

6.2

2096.5

6.8

142.7

-1.9

Mining Support Service Activities

854.2

7.7

836.3

7.3

20.0

(注)

Mining of Other Ores N.E.C

20.5

5.1

20.5

5.1

0.8

-11.1

Processing of Food From Agricultural Products

28987.5

5.0

28749.6

4.8

1162.8

1.4

Manufacture of Foods

11182.6

8.2

11013.4

8.2

850.6

7.0

Manufacture of Wines, Beverage and Refined Tea

9512.6

9.7

9378.9

9.6

1192.9

20.0

Manufacture of Cigarettes And Tobacco

6410.1

11.6

5727.7

10.2

657.1

7.1

Manufacture of Textile

18241.7

2.1

17854.8

1.7

752.8

0.2

Manufacture of Textile Wearing Apparel And Ornament

10616.3

3.8

10462.7

3.6

575.3

5.5

Manufacture of  Leather, Fur, Feather Aad Its Products

7186.9

4.1

7165.3

4.1

405.8

4.6

Processing of Timbers, Manufacture of  Wood, Bamboo, Rattan, Palm, and Straw Products

5904.8

3.5

5882.6

3.4

298.4

-1.6

Manufacture of Furniture

4556.9

6.6

4520.4

6.5

253.1

-1.2

Manufacture of  Paper and Paper Products

8509.5

12.6

8360.1

12.5

488.1

10.7

Printing, Reproduction of Recording Media

4026.3

6.5

3979.9

6.3

240.6

6.4

Manufacture of  Articles for Culture, Education, Artwork, Sport and Entertainment Activity

8228.7

6.3

8180.7

6.2

388.1

-0.4

Processing of Petroleum, Coking, Processing of Nucleus Fuel

27514.4

20.3

26581.1

19.3

1540.2

36.1

Manufacture of Chemical Raw Material  and Chemical Products

43977.3

11.2

43029.1

11.2

3189.1

29.2

Manufacture of Medicines

14542.4

13.8

14404.4

14.0

1789.3

11.2

Manufacture of Chemical Fibres

4707.3

16.6

4508.7

16.0

205.6

14.5

Manufacture of Rubber and Plastics Products

15669.0

5.3

15443.8

5.3

795.6

1.2

Manufacture of Non-Metallic Mineral Products

30618.8

14.5

30393.6

14.4

2562.8

45.2

Manufacture and Processing of Ferrous Metals

37832.2

16.0

36136.6

16.4

2305.1

97.8

Manufacture and Processing of Non-Ferrous Metals

30025.1

10.8

28801.8

10.9

728.3

-9.8

Manufacture of Fabricated Metal Products

21301.2

9.0

20944.9

8.8

923.1

1.2

Manufacture of General-Purpose Machinery

24331.1

9.6

23997.8

9.5

1536.5

9.0

Manufacture of Special-Purpose Machinery

18626.0

12.4

18168.6

12.9

1223.0

23.1

Manufacture of Motor Vehicles

48618.3

10.1

47072.5

9.6

3730.3

1.6

Manufacture of Railway Locomotives, Building of Ships and Boats, Manufacture of Air and Spacecrafts and Other Transportation Equipments

6766.2

2.4

6668.2

2.8

337.6

-1.7

Manufacture of Electrical Machinery and Equipment

37813.2

8.9

36801.6

8.8

1955.6

1.0

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

57193.5

8.6

56320.5

8.3

2378.5

0.9

Manufacture of Measuring Instrument and Meter

4677.2

10.7

4615.3

10.4

411.5

8.5

Other Manufacturing

1151.3

8.3

1140.1

8.0

67.0

5.0

Waste Recycling and Recovery

2155.7

19.1

2139.2

19.2

105.1

26.6

Repair of  Fabricated Metal Products, Machinery and Equipment

581.4

4.5

574.8

4.3

34.8

25.6

Production and Supply of Electric Power and Heat Power

35221.6

11.0

34825.3

11.1

2099.8

19.6

Production and Distribution of Gas

3976.6

19.2

3882.5

19.4

355.5

18.0

Production and Distribution of Water

1441.2

9.9

1351.7

9.5

131.7

-4.6

 

           

Note : Mining and Support Service Activities had a loss of 0.34 billion yuan in the same period of last year.

 

Key Financial Indicators of Industrial Enterprises above the Designated Size in the First Seven Months of 2018 (Group by Industries)

 

 

 

Continued from Table III

 

Indicators

 

 

Operating Costs

Of which: Costs of Principal Activities

Jan-Jul (100 million yuan)

Increase rate Y/Y

(%)

Jan-Jul (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

Total

523347.4

9.6

510730.2

9.5

Mining and Washing of Coal

10659.6

2.4

9627.7

4.3

Extraction of Petroleum and Natural Gas

2866.8

-4.2

2712.8

-5.9

Mining of Ferrous Metal Ores

1604.0

-3.9

1568.9

-4.2

Mining of Non-Ferrous Metal Ores

1966.4

4.4

1941.7

4.6

Mining And Processing of Nonmetal Ores

1695.5

5.6

1685.2

6.5

Mining Support Service Activities

811.5

4.3

796.6

3.7

Mining of Other Ores N.E.C

16.9

12.7

16.9

12.7

Processing of Food From Agricultural Products

26184.5

5.3

25983.4

5.1

Manufacture of Foods

8944.2

8.0

8790.8

8.1

Manufacture of Wines, Beverage and Refined Tea

6737.9

7.2

6632.7

7.1

Manufacture of Cigarettes And Tobacco

2264.0

12.7

1601.2

8.7

Manufacture of Textile

16427.8

2.0

16099.2

1.6

Manufacture of Textile Wearing Apparel And Ornament

9092.1

4.1

8965.5

3.9

Manufacture of  Leather, Fur, Feather Aad Its Products

6290.3

4.4

6274.4

4.4

Processing of Timbers, Manufacture of  Wood, Bamboo, Rattan, Palm, and Straw Products

5226.2

4.0

5209.4

3.9

Manufacture of Furniture

3855.5

6.7

3832.0

6.6

Manufacture of  Paper and Paper Products

7356.1

13.4

7226.5

13.3

Printing, Reproduction of Recording Media

3423.5

6.7

3391.9

6.6

Manufacture of  Articles for Culture, Education, Artwork, Sport and Entertainment Activity

7229.2

6.9

7192.2

6.8

Processing of Petroleum, Coking, Processing of Nucleus Fuel

22327.4

21.9

21439.8

20.8

Manufacture of Chemical Raw Material  and Chemical Products

36880.2

10.1

36046.2

10.0

Manufacture of Medicines

8880.2

7.6

8800.7

8.0

Manufacture of Chemical Fibres

4250.7

17.0

4064.8

15.6

Manufacture of Rubber and Plastics Products

13552.1

5.3

13354.5

5.3

Manufacture of Non-Metallic Mineral Products

25514.4

12.7

25335.7

12.6

Manufacture and Processing of Ferrous Metals

33695.2

12.9

32148.1

13.1

Manufacture and Processing of Non-Ferrous Metals

28134.8

11.2

26989.4

11.5

Manufacture of Fabricated Metal Products

18826.1

9.7

18531.3

9.5

Manufacture of General-Purpose Machinery

20449.0

9.8

20175.9

9.7

Manufacture of Special-Purpose Machinery

15389.5

11.9

14952.1

12.3

Manufacture of Motor Vehicles

40890.8

10.9

39657.9

10.6

Manufacture of Railway Locomotives, Building of Ships and Boats, Manufacture of Air and Spacecrafts and Other Transportation Equipments

5796.8

3.4

5721.4

3.8

Manufacture of Electrical Machinery and Equipment

32258.1

9.3

31346.2

9.2

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

50565.4

9.3

49780.0

9.0

Manufacture of Measuring Instrument and Meter

3716.1

10.5

3672.6

10.3

Other Manufacturing

978.6

8.2

969.3

7.9

Waste Recycling and Recovery

1969.9

19.7

1953.8

19.7

Repair of  Fabricated Metal Products, Machinery and Equipment

492.2

3.6

486.4

3.7

Production and Supply of Electric Power and Heat Power

31671.5

10.8

31398.4

10.9

Production and Distribution of Gas

3396.7

20.0

3345.5

20.2

Production and Distribution of Water

1059.8

10.0

1011.0

9.5

 

 

 

 

 

           

Annotations:

 

I. Explanatory Notes:

 

1. 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.

 

2. Operating income: refers to the total amount of revenue of enterprises recognized by the principal business and other business operations.

 

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

 

4. Operating costs: refers to the total costs of enterprises incurred by the principal business and other business operations.

 

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

 

6. 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.

 

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

 

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

 

9. 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.

 

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

 

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

 

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

 

13. Expenses for per-hundred-yuan Turnover of Principal Activities = (selling expenses + administrative expenses + financial expenses) / the revenue from principal activities ×100, unit: yuan.

 

14. 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.

 

15. 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.

 

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

 

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

 

18. 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.

 

19. 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.

 

II. The growth rates of the total profits and revenue from principal activities of industrial enterprises above designated size are calculated on a comparable basis. There are incomparable factors between the data in the reporting period and the same indicator data published in the previous year, which cannot be directly compared to calculate the growth rate. The main reasons are: (1) According to the statistical system, the survey coverage of industrial enterprises above designated size is adjusted regularly every year. Each year, some companies will be included in the survey after having reached designated size, and some will exit the survey due to their smaller size, and there are also influence of new built and starting enterprises, bankruptcies, and companies that have been suspended or sold. (2) By strengthening the statistical law enforcement, the enterprises found in the statistical law enforcement inspection that do not meet the industrial statistics requirements above designated size have been cleared, and relevant bases have been revised in accordance with regulations. (3) Strengthen data quality management and eliminate the cross-regional and cross-industry repeated calculation. According to the latest investigation of the organizational structure carried out by the National Bureau of Statistics, since the fourth quarter of last year, the cross-regional and cross-industry repeated calculation of enterprise groups (companies) has been eliminated. (4) After the implementation of the “reform of replacing business tax with value-added tax” policy, the service industry enterprises turned to pay value-added tax of which the tax rate was lower. The industrial enterprises have gradually divested their internal non-industrial production and operation activities, and turned to the service industry, which had diminished the financial data of industrial enterprises.

 

III. Statistical Coverage

 

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

 

IV. 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).

 

V. Industrial Classification Standard

 

The Industrial Classification for National Economic Activities (GB/T4754-2017) was implemented, please refer to http://www.stats.gov.cn/tjsj/tjbz/hyflbz.

 

 

 

 

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