Industrial Profits Increased in the First Ten Months of 2018
National Bureau of Statistics of China2018-11-28 15:59




In the first ten months of 2018, the profits made by industrial enterprises above the designated size achieved 5,521.18 billion yuan, a year-on-year increase of 13.6 percent (calculated on comparable basis, taking into account factors such as the standard adjustment according to the statistical system, the enhancement of statistical law enforcement, the elimination of data, and the enterprise reform and divestiture,  see Annotations II for details), and the growth rate decreased by 1.1 percentage points from the first nine months.

 

In the first ten months, the profits of state-holding industrial enterprises above the designated size gained 1,672.4 billion yuan, an increase of 20.6 percent year-on-year; that of collective-owned enterprises reached 16.77 billion yuan, an increase of 4.5 percent; that of joint-stock enterprises stood at 3897.84 billion yuan, up by 17.7 percent; that of foreign funded enterprises, and enterprises funded from Hong Kong, Macao and Taiwan achieved 1,380.2 billion yuan, increased by 5.6 percent; and that of private enterprises gained 1,413.16 billion yuan, an increase of 9.3 percent.

 

In the first ten months, the profits of mining and quarrying reached 479.38 billion yuan, an increase of 47.1 percent year-on-year; that of manufacturing was 4,683.09 billion yuan, an increase of 11.5 percent; that of production and distribution of electricity, heat, gas and water reached 358.71 billion yuan, up by 6.2 percent.

 

In the first ten months, within 41 branches of industrial divisions, the industrial profits of 34 industrial divisions increased year-on-year, and that of 7 decreased. In view of the profit growth of major industries, the profits of mining and washing of coal increased by 10.7 percent year-on-year, that of extraction of petroleum and natural gas increased by 3.7 times, that of processing of food from agricultural products increased by 1.9 percent, that of manufacture of textile up by 3.7 percent, that of processing of petroleum, coal and other fuels increased by 25.2 percent, that of manufacture of chemical raw material and chemical products increased by 22.1 percent, that of manufacture of non-metallic mineral products increased by 45.9 percent, that of manufacture and processing of ferrous metals increased by 63.7 percent, that of manufacture of general-purpose machinery up by 8.8 percent, that of manufacture of special-purpose machinery up by 21.1 percent, that of manufacture of electrical machinery and equipment increased by 2.5 percent, that of manufacture of computer, communication equipment and other electronic equipment increased by 2.8 percent, that of production and supply of electric power and heat power up by 6.1 percent, that of manufacture and processing of non-ferrous metals decreased by 20.1 percent , that of manufacture of motor vehicles decreased by 5.4 percent.

 

In the first ten months, the revenue from principal activities of industrial enterprises above the designated size reached 85.7 trillion yuan, increased by 9.3 percent year-on-year. The costs of principal activities were 72.2 trillion yuan, up by 9.0 percent. The profit rate of revenue from principal activities was 6.44 percent, an increase of 0.24 percentage point year-on-year.

 

By the end of October, the total assets of industrial enterprises above the designated size was 112.3 trillion yuan, increased by 6.7 percent year-on-year; the total liabilities reached 63.7 trillion yuan, increased by 5.9 percent; the total owners' equity was 48.6 trillion yuan, increased by 7.8 percent. The asset-liability ratio was 56.7 percent, a decrease of 0.5 percentage point year-on-year.

 

By the end of October the total volume of receivable accounts for industrial enterprises above designated hit 14.6 trillion yuan, went up by 10.9 percent year-on-year. The total value of finished products for industrial enterprises accounted for 4,376.22 billion yuan, increased by 9.5 percent.

 

In the first ten months, the costs for per-hundred-yuan turnover of principal activities stood at 84.27 yuan, a decrease of 0.25 yuan year-on-year; the expenses for per-hundred-yuan turnover of principal activities stood at 8.32 yuan, unchanged from the previous year; the revenue from principal activities brought by per hundred yuan assets was 94.3 yuan, an increase of 1.9 yuan; the revenue from principal activities per capita was 1,294 thousand yuan, an increase of 151 thousand yuan; the turnover days of finished goods were 17.1 days, unchanged from the previous year; the days sales outstanding hit an average of 47.6 days, an increase of 0.4 day.

 

In October, the profits made by industrial enterprises above the designated size achieved 5,480.2 billion yuan, a year-on-year increase of 3.6 percent, and the growth rate decreased by 0.5 percentage point from September.

 

 

 

 

Key Financial Indicators of Industrial Enterprises

above the Designated Size in the First Ten Months of 2018

 

Table I

Indicators

 

 

Total Profits

Operating Income

Of which: Revenue from

Principal Activities

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

877963.3

9.4

856830.7

9.3

55211.8

13.6

Of which: Mining and Quarrying

38583.8

7.8

36537.1

8.2

4793.8

47.1

Manufacturing

780449.1

9.5

762219.1

9.3

46830.9

11.5

Production and Distribution of Electricity, Heat, Gas and Water

58930.4

10.2

58074.5

10.2

3587.1

6.2

 Of which: State-holding Enterprises

233597.3

9.8

225052.0

10.0

16724.0

20.6

Of which: Collective-owned Enterprises

2763.8

2.4

2701.6

2.9

167.7

4.5

        Joint-Stock Enterprises

627363.9

10.3

611544.2

10.2

38978.4

17.7

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

201989.6

7.0

197441.4

6.8

13802.0

5.6

Of which: Private Enterprises

272051.9

9.3

267764.7

9.0

14131.6

9.3

 

 

 

 

 

 

 

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 Ten Months of 2018

 

Continued from Table I

 

Indicators

 

 

 

Operating Costs

Of which: Costs of Principal Activities

 

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

740618.0

9.1

722086.0

9.0

 

Of which: Mining and Quarrying

27814.5

2.5

25890.9

2.7

 

Manufacturing

660286.8

9.3

644235.7

9.1

 

Production and Distribution of Electricity, Heat, Gas and Water

52516.7

10.3

51959.4

10.4

 

 Of which: State-holding Enterprises

189366.3

8.9

181747.9

9.1

 

Of which: Collective-owned Enterprises

2163.1

-0.1

2114.5

0.2

 

        Joint-Stock Enterprises

527998.0

9.8

513902.2

9.7

 

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

170062.6

7.1

166291.8

6.9

 

Of which: Private Enterprises

237424.3

9.3

233480.5

9.0

 

 

 

 

 

 

 

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 Ten 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

6.44

84.27

8.32

94.3

129.4

56.7

17.1

47.6

Of which: Mining and Quarrying

13.12

70.86

11.82

46.6

85.4

58.8

14.6

36.6

Manufacturing

6.14

84.52

8.35

110.2

128.7

55.8

18.6

49.4

Production and Distribution of Electricity, Heat, Gas and Water

6.18

89.47

5.76

42.0

211.7

60.5

0.7

30.6

 Of which: State-holding Enterprises

7.43

80.76

8.06

63.1

189.9

59.0

15.6

40.4

Of which: Collective-owned Enterprises

6.21

78.27

16.19

73.2

97.1

66.3

45.4

45.2

        Joint-Stock Enterprises

6.37

84.03

8.39

92.4

129.1

57.8

17.6

44.2

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

6.99

84.22

8.76

108.5

124.5

54.3

17.7

64.1

Of which: Private Enterprises

5.28

87.20

7.28

140.5

112.7

56.2

15.7

38.6

 

 

 

 

 

 

 

 

 

                   

 

Key Financial Indicators of Industrial Enterprises above the

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

 

Table III

Indicators

 

 

Total Profits

Operating Income

Of which: Revenue from

Principal Activities

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

877963.3

9.4

856830.7

9.3

55211.8

13.6

Mining and Washing of Coal

21629.7

4.9

19923.0

5.7

2561.7

10.7

Extraction of Petroleum and Natural Gas

7054.9

24.8

6879.8

24.4

1560.1

370.6

Mining of Ferrous Metal Ores

2784.9

-2.5

2720.1

-3.1

89.8

-15.7

Mining of Non-Ferrous Metal Ores

2894.8

3.6

2850.9

3.7

350.8

10.1

Mining And Processing of Nonmetal Ores

2885.2

5.8

2861.8

5.9

205.7

7.9

Mining Support Service Activities

1308.9

15.8

1276.1

15.1

25.1

(注)

Mining of Other Ores N.E.C

25.4

-1.6

25.4

-1.6

0.7

-30.0

Processing of Food From Agricultural Products

40744.1

4.6

40420.8

4.5

1614.5

1.9

Manufacture of Foods

15523.6

7.6

15261.1

7.5

1214.2

7.3

Manufacture of Wines, Beverage and Refined Tea

13091.2

8.1

12898.9

8.1

1658.5

16.6

Manufacture of Cigarettes And Tobacco

8982.9

9.5

8007.4

7.7

889.7

5.8

Manufacture of Textile

25271.1

2.0

24782.9

1.8

1041.5

3.7

Manufacture of Textile Wearing Apparel And Ornament

14451.6

3.7

14214.3

3.5

779.1

8.9

Manufacture of  Leather, Fur, Feather Aad Its Products

9928.4

4.1

9895.3

4.0

558.7

4.3

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

8316.0

5.1

8280.3

5.0

409.7

-2.8

Manufacture of Furniture

6011.3

5.6

5959.0

5.4

332.1

3.1

Manufacture of  Paper and Paper Products

11884.0

9.6

11665.2

9.3

656.7

-4.6

Printing, Reproduction of Recording Media

5580.8

5.3

5509.8

5.0

335.8

2.9

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

11595.2

4.7

11519.4

4.6

568.1

2.3

Processing of Petroleum, Coking, Processing of Nucleus Fuel

40218.6

23.0

38965.0

22.6

2251.6

25.2

Manufacture of Chemical Raw Material  and Chemical Products

62896.5

10.8

61493.7

10.7

4545.8

22.1

Manufacture of Medicines

20397.3

13.5

20180.6

13.6

2553.9

10.4

Manufacture of Chemical Fibres

6945.1

14.6

6610.2

14.2

315.7

19.0

Manufacture of Rubber and Plastics Products

21459.1

4.3

21131.8

4.4

1032.3

0.8

Manufacture of Non-Metallic Mineral Products

41396.1

15.3

41008.2

15.1

3495.4

45.9

Manufacture and Processing of Ferrous Metals

55752.3

15.8

53128.0

15.8

3552.8

63.7

Manufacture and Processing of Non-Ferrous Metals

42748.6

8.2

41032.5

8.0

991.5

-20.1

Manufacture of Fabricated Metal Products

29232.7

9.5

28704.8

9.3

1271.0

5.5

Manufacture of General-Purpose Machinery

33168.5

8.2

32691.6

8.2

2114.1

8.8

Manufacture of Special-Purpose Machinery

25153.0

10.6

24482.8

11.0

1681.6

21.1

Manufacture of Motor Vehicles

68573.6

6.1

66419.2

5.7

4958.4

-5.4

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

9433.1

1.6

9290.3

2.1

520.5

2.3

Manufacture of Electrical Machinery and Equipment

53353.2

7.1

51806.6

7.0

2907.1

2.5

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

86065.6

10.6

84716.4

10.3

3690.5

2.8

Manufacture of Measuring Instrument and Meter

6639.3

9.0

6550.9

8.9

598.6

7.2

Other Manufacturing

1438.1

7.4

1429.5

7.1

75.0

4.2

Waste Recycling and Recovery

3323.2

21.3

3297.8

21.2

162.3

27.8

Repair of  Fabricated Metal Products, Machinery and Equipment

875.1

7.7

864.9

7.7

54.2

37.9

Production and Supply of Electric Power and Heat Power

51085.4

9.2

50502.6

9.2

2911.1

6.1

Production and Distribution of Gas

5729.5

20.4

5586.9

20.7

467.2

12.4

Production and Distribution of Water

2115.5

9.2

1984.9

8.7

208.8

-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 Ten Months of 2018 (Group by Industries)

 

 

 

Continued from Table III

 

Indicators

 

 

Operating Costs

Of which: Costs of Principal Activities

Jan-Oct (100 million yuan)

Increase rate Y/Y

(%)

Jan- Oct (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

Total

740618.0

9.1

722086.0

9.0

Mining and Washing of Coal

15560.1

3.7

13987.2

4.7

Extraction of Petroleum and Natural Gas

4156.9

-1.9

3941.6

-3.2

Mining of Ferrous Metal Ores

2322.2

-4.7

2259.4

-5.6

Mining of Non-Ferrous Metal Ores

2205.6

2.4

2174.1

2.5

Mining And Processing of Nonmetal Ores

2307.9

5.1

2292.3

5.1

Mining Support Service Activities

1239.9

13.3

1214.4

13.9

Mining of Other Ores N.E.C

21.9

7.4

21.9

7.4

Processing of Food From Agricultural Products

36808.2

4.8

36540.9

4.6

Manufacture of Foods

12322.8

7.4

12089.7

7.4

Manufacture of Wines, Beverage and Refined Tea

9165.2

5.8

9010.4

5.6

Manufacture of Cigarettes And Tobacco

3178.4

11.4

2242.7

6.8

Manufacture of Textile

22735.3

1.9

22319.0

1.5

Manufacture of Textile Wearing Apparel And Ornament

12373.1

3.8

12176.3

3.6

Manufacture of  Leather, Fur, Feather Aad Its Products

8645.5

4.4

8619.8

4.4

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

7371.1

5.6

7345.7

5.5

Manufacture of Furniture

5080.7

5.3

5047.6

5.3

Manufacture of  Paper and Paper Products

10272.9

11.0

10090.0

10.7

Printing, Reproduction of Recording Media

4727.1

5.3

4681.4

5.2

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

10159.7

5.0

10098.9

4.9

Processing of Petroleum, Coking, Processing of Nucleus Fuel

32461.0

25.4

31328.6

25.2

Manufacture of Chemical Raw Material  and Chemical Products

52657.7

10.0

51432.8

10.0

Manufacture of Medicines

12210.1

7.8

12074.9

7.9

Manufacture of Chemical Fibres

6275.8

15.0

5958.9

14.4

Manufacture of Rubber and Plastics Products

18570.1

4.3

18281.3

4.3

Manufacture of Non-Metallic Mineral Products

34297.9

13.5

33981.0

13.3

Manufacture and Processing of Ferrous Metals

49465.9

13.6

47066.0

13.5

Manufacture and Processing of Non-Ferrous Metals

40114.4

9.0

38525.7

9.2

Manufacture of Fabricated Metal Products

25794.8

10.1

25348.2

9.9

Manufacture of General-Purpose Machinery

27740.7

8.3

27357.7

8.2

Manufacture of Special-Purpose Machinery

20635.7

10.0

20013.6

10.4

Manufacture of Motor Vehicles

57740.5

7.0

55918.0

6.6

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

8034.5

2.3

7921.9

2.6

Manufacture of Electrical Machinery and Equipment

45276.9

7.3

43898.4

7.1

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

75917.7

11.1

74714.8

10.8

Manufacture of Measuring Instrument and Meter

5235.7

9.0

5175.2

8.8

Other Manufacturing

1231.7

7.3

1224.9

7.0

Waste Recycling and Recovery

3043.4

22.3

3018.3

22.1

Repair of  Fabricated Metal Products, Machinery and Equipment

742.4

6.9

733.1

7.1

Production and Supply of Electric Power and Heat Power

46058.2

9.2

45653.1

9.4

Production and Distribution of Gas

4918.7

22.1

4838.8

22.3

Production and Distribution of Water

1539.9

8.9

1467.6

8.5

 

 

 

 

 

           

 

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 frnine 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 survay 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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