The Profit of Industrial Enterprises above Designated Size in 2023

In 2023, the total profits of industrial enterprises above the designated size reached 7,685.83 billion yuan, down by 2.3 percent year on year, a decline of 2.1 percentage points narrower than that from January to November (calculated on comparable basis, see Annotation 2 for details).

 

In 2023, among industrial enterprises above the designated size, state-holding enterprises realized a total profit of 2,262.31 billion yuan, a year-on-year decrease of 3.4 percent; share-holding enterprises realized a total profit of 5,677.30 billion yuan, a decrease of 1.2 percent; enterprises funded by foreign investors and investors from Hong Kong, Macao and Taiwan realized a total profit of 1,797.51 billion yuan, a decrease of 6.7 percent; private enterprises realized a total profit of 2,343.76 billion yuan, an increase of 2.0 percent.

 

In 2023, the mining industry realized a total profit of 1,239.24 billion yuan, a year-on-year decrease of 19.7 percent; the manufacturing industry realized a total profit of 5,764.36 billion yuan, a decrease of 2.0 percent; the production and supply of electricity, heat power, gas and water realized a total profit of 682.23 billion yuan, an increase of 54.7 percent.

 

In 2023, the profits of main industries were as follows: the total profit of the smelting and pressing of ferrous metals increased by 157.3 percent over the previous year, that of the production and supply of electricity and heat power increased by 71.9 percent, that of the smelting and pressing of non-ferrous metals increased by 28.0 percent, that of the processing of petroleum, coal and other fuels increased by 26.9 percent, that of the manufacture of electrical machinery and apparatus increased by 15.7 percent, that of the manufacture of general purpose machinery increased by 10.3 percent, that of the manufacture of automobiles increased by 5.9 percent, that of the textile industry increased by 5.9 percent, that of the manufacture of special purpose machinery decreased by 0.4 percent, that of the manufacture of computers, communication equipment and other electronic equipment decreased by 8.6 percent, that of the processing of food from agricultural and sideline products decreased by 11.0 percent, that of the extraction of petroleum and natural gas decreased by 16.0 percent, that of the manufacture of non-metallic mineral products decreased by 23.9 percent, that of the mining and washing of coal decreased by 25.3 percent and that of the manufacture of raw chemical materials and chemical products decreased by 34.1 percent.

 

In 2023, industrial enterprises above the designated size achieved a business revenue of 133.44 trillion yuan, a year-on-year increase of 1.1 percent; the business costs incurred was 113.10 trillion yuan, an increase of 1.2 percent; the profit rate of business revenue was 5.76 percent, a year-on-year decrease of 0.20 percentage point.

 

At the end of 2023, the assets of industrial enterprises above the designated size totaled 167.36 trillion yuan, a year-on-year increase of 6.0 percent; the total liabilities were 95.57 trillion yuan, an increase of 5.9 percent; the owner's equity totaled 71.79 trillion yuan, an increase of 6.2 percent; the asset-liability ratio was 57.1 percent, a year-on-year decrease of 0.1 percentage point.

 

At the end of 2023, the accounts receivable of industrial enterprises above the designated size totaled 23.72 trillion yuan, a year-on-year increase of 7.6 percent; the inventory of finished products was 6.14 trillion yuan, an increase of 2.1 percent.

 

In 2023, the costs for per-hundred-yuan business revenue of the industrial enterprises above the designated size were 84.76 yuan, a year-on-year increase of 0.04 yuan; the expenses for per-hundred-yuan business revenue were 8.56 yuan, a year-on-year increase of 0.20 yuan.

 

At the end of 2023, the business revenue brought by per-hundred-yuan assets of industrial enterprises above the designated size was 82.4 yuan, a year-on-year decrease of 4.9 yuan; the per capita business revenue was 1.815 million yuan, a year-on-year increase of 59,000 yuan; the turnover days of finished goods were 19.3 days, a year-on-year increase of 0.9 days; the average collection period for accounts receivable was 60.6 days, a year-on-year increase of 4.4 days.

 

In December, the total profits of industrial enterprises above the designated size achieved a year-on-year increase of 16.8 percent.

 

 

 

 

Key Financial Indicators of Industrial Enterprises above the Designated Size in 2023

 

 

 

Economic Benefits Indicators of Industrial Enterprises above the Designated Size in 2023

 

 

Key Financial Indicators of Industrial Enterprises above the Designated Size in 2023 (Grouped by Industry)

 

 

 

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 profits and losses in the reporting period.

 

2. Business Revenue: refers to the inflow of economic benefits from the production and operation of enterprises, such as selling goods, providing labor services and transferring the right to use assets, including the total amount of revenue of enterprises recognized by the principal business and other business operations.

 

3. Business Costs: refers to the actual costs from the production and operation of enterprises such as selling goods, providing labor services and transferring the right to use assets, including the total amount of costs of enterprises incurred by the principal business and other business operations. Business costs should be matched with business revenue.

 

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 enterprise’s owners.

 

7. Accounts Receivable: refers to the amount that should be collected by an enterprise due to its business activities, such as selling goods and providing services, measured at amortized cost on the balance sheet date.

 

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

 

9. Profit Rate of Business Revenue = total profits / business revenue × 100%, unit: %.

 

10. Costs for per-hundred-yuan Business Revenue = the business costs / the business revenue ×100, unit: yuan.

 

11. Expenses for per-hundred-yuan Business Revenue = (selling expenses + administrative expenses + development expenses + financial expenses) / the business revenue ×100, unit: yuan.

 

12. Business Revenue Brought by per Hundred-yuan Assets = the business revenue / average assets / the cumulative number of months × 12 × 100, unit: yuan.

 

13. Per Capita Business Revenue = business revenue / average number of employment / the cumulative number of months × 12, unit: 10 thousand yuan/ person.

 

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

 

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

 

16. Average Collection Period for Accounts Receivable = 360 × average accounts receivable / business revenue × the cumulative number of months / 12, unit: days.

 

17. In the columns of year-on-year growth rate 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.

 

18. In the main groups, state-holding enterprises include state-owned absolute holding enterprises and state-owned relative holding (including agreement holding) enterprises. Enterprises funded by foreign investors and investors from Hong Kong, Macao and Taiwan include Sino foreign (or Hong Kong, Macao and Taiwan funded) joint ventures, cooperative enterprises and joint stock limited companies whose shareholders of foreign capital (or Hong Kong, Macao and Taiwan funded) account for more than 25% of the company's registered capital. Private enterprises include private limited liability companies, private share-holding limited companies, private partnerships and private sole proprietorships.

 

II. 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 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.

 

III. Statistical Coverage

 

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

 

IV. Survey Method

 

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 National Industrial Classification of All Economic Activities (GB/T4754-2017) was performed.