Industrial Profits decreased 3.3 percent in the First Three Months, while 13.9 percent increase in March of 2019
National Bureau of Statistics of China2019-04-30 14:26




In the first three months of 2019, the profits made by industrial enterprises above the designated size achieved 1,297.2 billion yuan, a year-on-year decrease of 3.3 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, entities inventory checking of the fourth econmic census, see Annotations IV for details), and the pace of decline has narrowed 10.7 percentage points than that in the first two months.

 

In the first three months, the profits of state-holding industrial enterprises above the designated size gained 414.62 billion yuan, a decrease of 13.4 percent year-on-year; that of joint-stock enterprises stood at 917.09 billion yuan, down by 1.0 percent; that of foreign funded enterprises, and enterprises funded from Hong Kong, Macao and Taiwan achieved 318.22 billion yuan, decreased by 7.9 percent; and that of private enterprises gained 325.98 billion yuan, an increase of 7.0 percent.

 

In the first three months, the profits of mining and quarrying reached 122.88 billion yuan, a decrease of 3.4 percent year-on-year; that of manufacturing was 1,057.79 billion yuan, a decrease of 4.2 percent; that of production and distribution of electricity, heat, gas and water reached 116.54 billion yuan, up by 5.7 percent.

 

In the first three months, within 41 branches of industrial divisions, the industrial profits of 28 industrial divisions increased year-on-year, and that of 13 decreased. In view of the profit growth of major industries, that of manufacture of special-purpose machinery up by 32.8 percent, that of manufacture of electrical machinery and equipment increased by 21.2 percent, that of manufacture of general-purpose machinery up by 18.4 percent, that of manufacture of non-metallic mineral products increased by 13.6 percent, that of production and supply of electric power and heat power up by 11.4 percent,  that of extraction of petroleum and natural gas increased by 10.3 percent, that of manufacture of textile up by 3.6 percent, that of processing of petroleum, coal and other fuels decreased by 54.5 percent, that of manufacture and processing of ferrous metals decreased by 44.5 percent, that of manufacture of motor vehicles decreased by 25.0 percent, that of the profits of mining and washing of coal decreased by 18.0 percent, that of manufacture of chemical raw material and chemical products decreased by 17.8 percent, that of manufacture and processing of non-ferrous metals decreased by 12.6 percent , that of manufacture of computer, communication equipment and other electronic equipment decreased by 7.0 percent, that of processing of food from agricultural products decreased by 4.7 percent,

 

In the first three months, the revenue from principal activities of industrial enterprises above the designated size reached 24.4 trillion yuan, increased by 7.2 percent year-on-year. The costs of principal activities were 20.6 trillion yuan, up by 7.7 percent. The profit rate of revenue from principal activities was 5.31 percent, a decrease of 0.58 percentage point year-on-year.

 

By the end of March, the total assets of industrial enterprises above the designated size was 111.4 trillion yuan, increased by 6.9 percent year-on-year; the total liabilities reached 63.6 trillion yuan, increased by 6.5 percent; the total owners' equity was 47.8 trillion yuan, increased by 7.4 percent. The asset-liability ratio was 57.0 percent, a decrease of 0.2 percentage point year-on-year.

 

By the end of March, the total volume of Notes receivable and Accounts Receivable for industrial enterprises above designated hit 15.9 trillion yuan, went up by 6.5 percent year-on-year. The total value of finished products for industrial enterprises accounted for 3,918.65 billion yuan, increased by 0.3 percent.

 

In the first three months, the costs for per-hundred-yuan turnover of principal activities stood at 84.39 yuan, an increase of 0.41 yuan year-on-year; the expenses for per-hundred-yuan turnover of principal activities stood at 8.77 yuan, an increase of 0.06 yuan year-on-year.

 

By the end of March, the revenue from principal activities brought by per-hundred-yuan assets above the designated size was 88.3 yuan, an increase of 0.4 yuan year-on-year; the revenue from principal activities per capita was 1305 thousand yuan, an increase of 128 thousand yuan year-on-year; the turnover days of finished goods were 17.3 days, 0.8 day decrease than that in the previous year; the days of Notes receivable and Accounts Receivable hit an average of 55.5 days, an increase of 1.0 day year-on-year.

 

In March, the profits made by industrial enterprises above the designated size achieved 589.52 billion yuan, an year-on-year increase of 13.9 percent

 

 

 

 

http://10.6.132.108:8080/wcm/app/editor/editor/images/spacer.gifKey Financial Indicators of Industrial Enterprises

above the Designated Size in the First Three Months of 2019

 

Table I

Indicators

Operating Income

Operating Costs

Total Profits

Jan-Mar (100 million yuan)

Increase rate Y/Y

(%)

Jan-Mar (100 million yuan)

Increase rate Y/Y

(%)

Jan-Mar (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

244193.5

7.2

206085.9

7.7

12972.0

-3.3

Of which: Mining and Quarrying

10270.3

6.5

7402.5

8.8

1228.8

-3.4

Manufacturing

215237.6

7.2

182157.4

7.8

10577.9

-4.2

Production and Distribution of Electricity, Heat, Gas and Water

18685.5

7.6

16526.0

6.8

1165.4

5.7

 Of which: State-holding Enterprises

67804.2

4.1

54935.3

5.1

4146.2

-13.4

        Joint-Stock Enterprises

174759.3

9.2

146880.9

9.8

9170.9

-1.0

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

55843.7

1.9

47325.4

2.4

3182.2

-7.9

Of which: Private Enterprises

73790.8

12.1

64300.5

12.2

3259.8

7.0

 

 

 

 

 

 

 

Note : 1.Due to the overlap of economic type grouping, the total is not equal to the total of sub-items.

2.Due to the rounding-off reasons, the subentries may not add up to the aggregate totals, no adjustment.

 

Quality Performance Indicators of Industrial Enterprises

above the Designated Size in the First Three Months of 2019

 

 

Table II

Indicators

Profit Rate of Revenue

Costs for per-hundred-yuan

 

Expenses for per-hundred-yuan

Revenue from Brought by per Hundred yuan Assets

Per captal Income

Asset-Liability Ratio

Turnover Days of Finished Goods

Average Payback Period of Notes & Accounts Receivable

Jan-Mar (%)

Jan-Mar (yuan)

Jan-Mar (yuan)

By the end of March (yuan)

By the end of March (10 thousand yuan/ person)

By the end of March (%)

By the end of March (days)

By the end of March (days)

 

 

 

 

 

 

 

 

 

Total

5.31

84.39

8.77

88.3

130.5

57.0

17.3

55.5

Of which: Mining and Quarrying

11.96

72.08

11.93

42.8

86.5

60.1

13.3

46.3

Manufacturing

4.91

84.63

8.84

103.4

128.8

56.0

19.0

57.9

Production and Distribution of Electricity, Heat, Gas and Water

6.24

88.44

6.15

42.3

228.3

60.4

0.5

33.1

 Of which: State-holding Enterprises

6.11

81.02

7.88

61.4

200.1

58.7

14.6

50.0

        Joint-Stock Enterprises

5.25

84.05

8.96

85.9

129.9

58.4

17.7

53.0

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

5.70

84.75

8.99

103.0

125.8

53.3

18.3

70.2

Of which: Private Enterprises

4.42

87.14

8.13

130.6

110.3

58.5

16.5

45.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key Financial Indicators of Industrial Enterprises above the

Designated Size in the First Three Months of 2019 (Group by Industries)

 

Table III

Indicators

 Operating Income

 Operating Costs

Total Profits

Jan- Mar (100 million yuan)

Increase rate Y/Y

(%)

Jan- Mar (100 million yuan)

Increase rate Y/Y

(%)

Jan- Mar (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

244193.5

7.2

206085.9

7.7

12972.0

-3.3

Mining and Washing of Coal

5478.6

5.4

3927.2

10.9

589.5

-18.0

Extraction of Petroleum and Natural Gas

1912.4

4.4

1143.6

1.7

436.0

10.3

Mining of Ferrous Metal Ores

785.0

12.3

637.2

9.8

38.1

164.6

Mining of Non-Ferrous Metal Ores

770.2

0.6

594.7

2.6

83.9

-14.9

Mining And Processing of Nonmetal Ores

744.8

7.9

579.5

6.5

55.4

18.4

Mining Support Service Activities

573.6

25.8

515.8

20.5

25.7

(注1

Mining of Other Ores N.E.C

5.6

7.7

4.3

10.3

0.3

-25.0

Processing of Food From Agricultural Products

11129.9

5.9

10074.1

6.3

378.4

-4.7

Manufacture of Foods

4466.8

6.5

3479.8

6.8

399.4

18.9

Manufacture of Wines, Beverage and Refined Tea

3902.2

7.4

2552.6

4.9

623.5

20.7

Manufacture of Cigarettes And Tobacco

3557.1

14.2

1146.4

13.4

432.0

24.4

Manufacture of Textile

6303.5

3.9

5656.7

3.4

215.0

3.6

Manufacture of Textile Wearing Apparel And Ornament

3762.1

6.8

3193.8

6.8

180.6

8.3

Manufacture of  Leather, Fur, Feather Aad Its Products

2751.1

5.8

2380.3

5.7

150.6

9.9

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

1998.7

6.1

1767.7

6.1

87.7

1.3

Manufacture of Furniture

1584.7

5.9

1322.0

4.9

81.5

17.1

Manufacture of  Paper and Paper Products

3244.3

4.2

2837.8

6.0

129.2

-24.7

Printing, Reproduction of Recording Media

1488.3

8.8

1252.6

8.4

82.4

16.5

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

3084.4

6.6

2688.1

5.7

139.0

22.0

Petroleum, coal and other Fuel Manufacturing

11390.4

5.5

9459.9

9.1

285.1

-54.5

Manufacture of Chemical Raw Material  and Chemical Products

16327.9

4.1

13814.4

5.8

938.1

-17.8

Manufacture of Medicines

5981.2

9.4

3448.9

8.6

753.0

7.6

Manufacture of Chemical Fibres

2057.7

16.2

1896.2

17.7

51.3

-19.7

Manufacture of Rubber and Plastics Products

5837.2

6.6

5021.2

6.1

259.0

11.1

Manufacture of Non-Metallic Mineral Products

11178.7

15.4

9323.8

15.9

784.1

13.6

Manufacture and Processing of Ferrous Metals

15963.5

10.3

14826.6

14.0

415.6

-44.5

Manufacture and Processing of Non-Ferrous Metals

12325.3

10.0

11672.7

10.8

203.1

-12.6

Manufacture of Fabricated Metal Products

7997.2

11.4

7010.7

11.0

306.3

20.6

Manufacture of General-Purpose Machinery

9077.4

11.1

7547.4

10.8

517.0

18.4

Manufacture of Special-Purpose Machinery

7167.5

15.4

5788.9

14.0

461.6

32.8

Manufacture of Motor Vehicles

19064.1

-4.2

16168.4

-2.9

1095.8

-25.0

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

2480.1

12.3

2109.1

11.4

115.7

63.6

Manufacture of Electrical Machinery and Equipment

14446.7

9.4

12239.5

8.8

645.5

21.2

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

23491.8

6.3

20844.9

6.2

669.0

-7.0

Manufacture of Measuring Instrument and Meter

1653.6

11.3

1286.3

10.5

102.1

7.0

Other Manufacturing

380.5

8.6

322.4

7.5

19.9

23.6

Waste Recycling and Recovery

894.5

14.6

817.9

14.7

41.2

15.4

Repair of  Fabricated Metal Products, Machinery and Equipment

249.2

10.1

206.6

5.9

15.4

51.0

Production and Supply of Electric Power and Heat Power

15653.0

6.0

13929.0

4.8

1003.6

11.4

Production and Distribution of Gas

2408.3

19.1

2130.0

21.9

122.5

-26.4

Production and Distribution of Water

624.2

8.2

467.0

8.0

39.2

9.8

 

 

 

 

 

 

 

Note : 1. Mining and Support Service Activities had a loss of 0.27 billion yuan in the same period of last year.

2. Due to the rounding-off reasons, the subentries may not add up to the aggregate totals, no adjustment.

 

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.

 

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

 

4. 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.

 

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

 

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

 

9. Notes receivable and Accounts Receivable: refers to the enterprise's rights due to the sale of goods, services, and other business activities, as well as commercial drafts received, including bank acceptance bills and commercial acceptance bills.

 

In June 2018, the Ministry of Finance issued the Notice on Amending the 2018 Annual Financial Statements of General Enterprises (Accounting [2018] No. 15), and revised the financial statement format of general enterprises. The enterprise balance sheet is no longer listed the item of “Accounts Receivable”, and the items of “receivable notes and accounts receivable” are listed instead. In line with the corporate financial statements, from 2019, stop to release the monthly “accounts receivable” data, and the “receivable notes and accounts receivable” data will be released. Relevant indicators are adjusted accordingly.

 

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

 

15. Revenue from Activities per Capita = revenue from 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 / revenue from 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 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. In order to fully reflect the income scale of industrial enterprises, from 2019, replace “principle revenue from activities” with “revenue from activities”. Relevant indicators are adjusted accordingly.

 

III. The collective enterprise data released in the past refers to the enterprise whose registration type is “collective”. With the establishment of the modern enterprise system, the proportion of enterprises registered as “collective” is declining (in 2018, the revenue from activities of collective enterprises accounts for the full industrial enterprises above designated size is only 0.18%), so from 2019, the date of the collective enterprise release will be cancel.

 

IV. The growth rates of the total profits and revenue from 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.

 

V. Statistical Coverage

 

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

 

VI. 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).

 

VII. 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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