Industrial Profits Increased in 2018
National Bureau of Statistics of China2019-01-29 16:30




In 2018, the profits made by industrial enterprises above the designated size achieved 6,635.14 billion yuan, a year-on-year increase of 10.3 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).

 

In 2018, the profits of state-holding industrial enterprises above the designated size gained 1,858.31 billion yuan, an increase of 12.6 percent year-on-year; that of collective-owned enterprises reached 10.22 billion yuan, a decrease of 1.0 percent; that of joint-stock enterprises stood at 4697.51 billion yuan, up by 14.4 percent; that of foreign funded enterprises, and enterprises funded from Hong Kong, Macao and Taiwan achieved 1,677.55 billion yuan, increased by 1.9 percent; and that of private enterprises gained 1,713.7 billion yuan, an increase of 11.9 percent.

 

In 2018, the profits of mining and quarrying reached 524.64 billion yuan, an increase of 40.1 percent year-on-year; that of manufacturing was 5,696.45 billion yuan, an increase of 8.7 percent; that of production and distribution of electricity, heat, gas and water reached 414.05 billion yuan, up by 4.3 percent.

 

In 2018, 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 5.2 percent year-on-year, that of extraction of petroleum and natural gas increased by 4.4 times, that of processing of food from agricultural products increased by 5.6 percent, that of manufacture of textile up by 5.3 percent, that of processing of petroleum, coal and other fuels increased by 10.7 percent, that of manufacture of chemical raw material and chemical products increased by 15.9 percent, that of manufacture of non-metallic mineral products increased by 43.0 percent, that of manufacture and processing of ferrous metals increased by 37.8 percent, that of manufacture of general-purpose machinery up by 7.3 percent, that of manufacture of special-purpose machinery up by 15.8 percent, that of manufacture of electrical machinery and equipment increased by 1.0 percent, that of production and supply of electric power and heat power up by 3.1 percent, that of manufacture and processing of non-ferrous metals decreased by 9 percent, that of manufacture of motor vehicles decreased by 4.7 percent, that of manufacture of computer, communication equipment and other electronic equipment decreased by 3.1 percent.

 

In 2018, the revenue from principal activities of industrial enterprises above the designated size reached 102..2 trillion yuan, increased by 8.5 percent year-on-year. The costs of principal activities were 85.7 trillion yuan, up by 8.3 percent. The profit rate of revenue from principal activities was 6.49 percent, an increase of 0.11 percentage point year-on-year.

 

By the end of 2018 , the total assets of industrial enterprises above the designated size was 113.4 trillion yuan, increased by 6.1 percent year-on-year; the total liabilities reached 64.1 trillion yuan, increased by 5.2 percent; the total owners' equity was 49.3 trillion yuan, increased by 7.2 percent. The asset-liability ratio was 56.5 percent, a decrease of 0.5 percentage point year-on-year.

 

By the end of 2018, the total volume of receivable accounts for industrial enterprises above designated hit 14.3 trillion yuan, went up by 8.6 percent year-on-year. The total value of finished products for industrial enterprises accounted for 4,311.91 billion yuan, increased by 7.4 percent.

 

In 2018, the costs for per-hundred-yuan turnover of principal activities stood at 83.88 yuan, a decrease of 0.2 yuan year-on-year; the expenses for per-hundred-yuan turnover of principal activities stood at 8.7 yuan, an increase of 0.2 yuan year-on-year; the revenue from principal activities brought by per hundred yuan assets was 93.3 yuan, an increase of 1.6 yuan; the revenue from principal activities per capita was 1,287 thousand yuan, an increase of 145 thousand yuan; the turnover days of finished goods were 17.2 days, unchanged from the previous year; the days sales outstanding hit an average of 47.4 days, an increase of 0.3 day.

 

In December, the profits made by industrial enterprises above the designated size achieved 680.83 billion yuan, a year-on-year decrease of 1.9 percent, and the pace of decline expanded 0.1 percentage point than November.

 

 

 

 

Key Financial Indicators of Industrial Enterprises

above the Designated Size in 2018

 

Table I

Indicators

 

 

Total Profits

Operating Income

Of which: Revenue from

Principal Activities

Jan-Dec (100 million yuan)

Increase rate Y/Y

(%)

Jan-Dec (100 million yuan)

Increase rate Y/Y

(%)

Jan-Dec (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

1049490.5

8.6

1022241.1

8.5

66351.4

10.3

Of which: Mining and Quarrying

45695.3

7.4

43211.9

7.8

5246.4

40.1

Manufacturing

931189.8

8.6

907715.9

8.4

56964.5

8.7

Production and Distribution of Electricity, Heat, Gas and Water

72605.4

10.0

71313.3

9.9

4140.5

4.3

 Of which: State-holding Enterprises

284730.4

9.1

273760.2

9.2

18583.1

12.6

Of which: Collective-owned Enterprises

1926.1

-5.1

1884.4

-5.0

102.2

-1.0

        Joint-Stock Enterprises

748330.2

9.7

728026.3

9.7

46975.1

14.4

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

244478.0

5.5

238538.1

5.4

16775.5

1.9

Of which: Private Enterprises

311970.0

8.7

306392.6

8.4

17137.0

11.9

 

 

 

 

 

 

 

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 2018

 

Continued from Table I

 

Indicators

 

 

 

Operating Costs

Of which: Costs of Principal Activities

 

Jan- Dec (100 million yuan)

Increase rate Y/Y

(%)

Jan- Dec (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

881200.2

8.4

857474.1

8.3

 

Of which: Mining and Quarrying

32865.4

2.9

30512.5

3.2

 

Manufacturing

783381.2

8.5

762789.2

8.3

 

Production and Distribution of Electricity, Heat, Gas and Water

64953.6

10.0

64172.4

10.1

 

 Of which: State-holding Enterprises

232075.5

8.7

222463.1

8.9

 

Of which: Collective-owned Enterprises

1640.2

-6.0

1603.3

-5.9

 

        Joint-Stock Enterprises

625600.1

9.3

607655.2

9.2

 

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

205575.6

5.8

200639.0

5.6

 

Of which: Private Enterprises

269614.6

8.4

264553.0

8.0

 

 

 

 

 

 

 

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 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

6.49

83.88

8.70

93.3

128.7

56.5

17.2

47.4

Of which: Mining and Quarrying

12.14

70.61

12.18

46.1

84.6

58.8

14.4

35.7

Manufacturing

6.28

84.03

8.76

108.8

127.8

55.5

18.7

49.4

Production and Distribution of Electricity, Heat, Gas and Water

5.81

89.99

5.90

42.6

215.4

60.5

0.6

29.2

 Of which: State-holding Enterprises

6.79

81.26

8.27

63.7

193.0

58.7

15.1

38.0

Of which: Collective-owned Enterprises

5.42

85.08

8.73

62.2

62.8

54.8

44.4

60.5

        Joint-Stock Enterprises

6.45

83.47

8.89

91.1

127.8

57.6

17.7

44.2

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

7.03

84.11

8.93

109.0

126.4

54.1

17.7

63.1

Of which: Private Enterprises

5.59

86.34

7.84

133.5

107.9

56.4

16.5

41.0

 

 

 

 

 

 

 

 

 

                   

 

Key Financial Indicators of Industrial Enterprises above the

Designated Size in 2018 (Group by Industries)

 

Table III

Indicators

 

 

Total Profits

Operating Income

Of which: Revenue from

Principal Activities

Jan- Dec (100 million yuan)

Increase rate Y/Y

(%)

Jan- Dec (100 million yuan)

Increase rate Y/Y

(%)

Jan- Dec (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

1049490.5

8.6

1022241.1

8.5

66351.4

10.3

Mining and Washing of Coal

24645.8

4.3

22660.3

5.5

2888.2

5.2

Extraction of Petroleum and Natural Gas

8710.9

23.4

8436.6

22.8

1627.5

438.9

Mining of Ferrous Metal Ores

3374.4

-2.4

3276.3

-3.5

72.6

-34.4

Mining of Non-Ferrous Metal Ores

3729.1

3.0

3682.7

2.8

419.8

0.2

Mining And Processing of Nonmetal Ores

3413.3

5.9

3383.2

5.9

268.9

14.9

Mining Support Service Activities

1790.9

15.4

1741.9

14.8

-31.5

(注)

Mining of Other Ores N.E.C

30.9

-1.0

30.8

-1.3

0.8

-27.3

Processing of Food From Agricultural Products

47758.3

3.8

47263.1

3.6

2124.4

5.6

Manufacture of Foods

18679.8

7.3

18348.2

7.3

1552.2

6.1

Manufacture of Wines, Beverage and Refined Tea

15534.9

8.8

15291.9

8.7

2094.3

20.8

Manufacture of Cigarettes And Tobacco

10465.4

6.1

9291.2

4.9

923.5

-4.6

Manufacture of Textile

27863.1

-0.2

27242.3

-0.5

1265.3

5.3

Manufacture of Textile Wearing Apparel And Ornament

17417.7

4.2

17106.6

4.1

1006.8

10.8

Manufacture of  Leather, Fur, Feather Aad Its Products

12130.5

4.8

12092.5

4.8

721.0

4.2

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

9210.3

2.1

9165.4

2.0

475.3

-1.5

Manufacture of Furniture

7081.7

4.5

7011.9

4.3

425.9

4.3

Manufacture of  Paper and Paper Products

14012.8

8.5

13727.9

8.3

766.4

-8.5

Printing, Reproduction of Recording Media

6471.1

5.2

6386.7

5.1

425.6

6.1

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

13408.8

5.0

13315.9

5.0

710.9

7.1

Processing of Petroleum, Coking, Processing of Nucleus Fuel

47910.8

21.1

46296.9

21.2

2270.8

10.7

Manufacture of Chemical Raw Material  and Chemical Products

72065.9

9.2

70147.5

9.1

5146.2

15.9

Manufacture of Medicines

24264.7

12.4

23986.3

12.6

3094.2

9.5

Manufacture of Chemical Fibres

8394.0

12.7

7989.6

12.4

393.9

10.3

Manufacture of Rubber and Plastics Products

24845.2

3.6

24427.1

3.6

1248.6

3.6

Manufacture of Non-Metallic Mineral Products

48973.6

15.4

48445.8

15.2

4287.8

43.0

Manufacture and Processing of Ferrous Metals

67255.6

15.2

64006.5

15.0

4029.3

37.8

Manufacture and Processing of Non-Ferrous Metals

52215.3

8.7

49996.6

8.9

1397.1

-9.0

Manufacture of Fabricated Metal Products

34375.1

10.1

33681.5

9.9

1590.2

8.0

Manufacture of General-Purpose Machinery

38308.9

7.8

37688.9

7.7

2526.9

7.3

Manufacture of Special-Purpose Machinery

29920.0

10.7

29126.8

11.0

2035.1

15.8

Manufacture of Motor Vehicles

83372.6

3.4

80484.6

2.9

6091.3

-4.7

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

11853.7

3.8

11661.2

4.0

673.0

5.8

Manufacture of Electrical Machinery and Equipment

64643.3

6.7

62675.5

6.4

3758.0

1.0

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

107685.4

9.1

105966.2

9.0

4781.0

-3.1

Manufacture of Measuring Instrument and Meter

8206.5

8.7

8091.6

8.6

780.5

6.9

Other Manufacturing

1675.1

4.6

1665.1

4.4

90.2

-1.1

Waste Recycling and Recovery

4086.0

22.1

4047.4

21.6

217.2

31.6

Repair of  Fabricated Metal Products, Machinery and Equipment

1103.6

6.0

1087.6

6.3

61.5

4.1

Production and Supply of Electric Power and Heat Power

62462.6

8.8

61568.8

8.8

3266.7

3.1

Production and Distribution of Gas

7484.8

20.6

7271.2

21.0

591.3

9.5

Production and Distribution of Water

2657.9

10.0

2473.3

9.6

282.6

7.1

 

           

Note : Mining and Support Service Activities had a loss of 0.55 billion yuan in the same period of last year.

 

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

 

 

 

Continued from Table III

 

Indicators

 

 

Operating Costs

Of which: Costs of Principal Activities

Jan-Dec (100 million yuan)

Increase rate Y/Y

(%)

Jan-Dec (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

Total

881200.2

8.4

857474.1

8.3

Mining and Washing of Coal

17545.2

4.2

15721.4

5.7

Extraction of Petroleum and Natural Gas

5296.1

0.4

4953.6

-1.6

Mining of Ferrous Metal Ores

2792.2

-4.9

2697.6

-6.2

Mining of Non-Ferrous Metal Ores

2843.4

1.8

2808.1

1.6

Mining And Processing of Nonmetal Ores

2672.4

4.5

2653.6

4.6

Mining Support Service Activities

1689.4

13.3

1651.5

13.3

Mining of Other Ores N.E.C

26.7

5.5

26.7

5.5

Processing of Food From Agricultural Products

42803.3

3.7

42373.0

3.4

Manufacture of Foods

14640.3

6.9

14325.1

6.7

Manufacture of Wines, Beverage and Refined Tea

10725.5

6.2

10529.9

5.9

Manufacture of Cigarettes And Tobacco

3748.5

6.9

2619.0

3.7

Manufacture of Textile

24834.0

-0.7

24306.3

-1.1

Manufacture of Textile Wearing Apparel And Ornament

14776.4

3.8

14523.3

3.7

Manufacture of  Leather, Fur, Feather Aad Its Products

10495.7

5.0

10418.2

5.0

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

8105.9

2.2

8070.0

2.1

Manufacture of Furniture

5904.0

3.8

5858.7

3.7

Manufacture of  Paper and Paper Products

12094.7

10.2

11854.3

10.0

Printing, Reproduction of Recording Media

5429.7

5.1

5374.4

5.1

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

11645.9

5.0

11576.0

4.9

Processing of Petroleum, Coking, Processing of Nucleus Fuel

38932.0

24.2

37467.8

24.8

Manufacture of Chemical Raw Material  and Chemical Products

59973.7

8.7

58264.3

8.5

Manufacture of Medicines

14163.1

6.9

13986.1

7.2

Manufacture of Chemical Fibres

7581.6

13.6

7197.8

13.1

Manufacture of Rubber and Plastics Products

21331.9

3.3

20973.3

3.3

Manufacture of Non-Metallic Mineral Products

40205.9

13.6

39773.8

13.3

Manufacture and Processing of Ferrous Metals

59808.2

14.4

56855.4

14.2

Manufacture and Processing of Non-Ferrous Metals

48710.3

9.2

46667.5

9.6

Manufacture of Fabricated Metal Products

30118.7

10.5

29549.0

10.4

Manufacture of General-Purpose Machinery

31691.7

7.6

31197.6

7.6

Manufacture of Special-Purpose Machinery

24252.5

10.1

23528.1

10.4

Manufacture of Motor Vehicles

70109.5

4.2

67745.2

3.9

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

10022.3

4.2

9869.2

4.4

Manufacture of Electrical Machinery and Equipment

54375.3

6.6

52640.0

6.3

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

94445.8

9.4

92922.3

9.1

Manufacture of Measuring Instrument and Meter

6387.7

8.7

6310.6

8.5

Other Manufacturing

1422.8

4.3

1415.4

4.1

Waste Recycling and Recovery

3710.6

22.4

3676.0

21.9

Repair of  Fabricated Metal Products, Machinery and Equipment

933.7

5.1

921.3

5.2

Production and Supply of Electric Power and Heat Power

56577.7

8.8

56021.3

8.9

Production and Distribution of Gas

6443.8

22.9

6322.3

23.3

Production and Distribution of Water

1932.1

8.5

1828.8

8.2

 

 

 

 

 

           

 

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 goteleven 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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