Industrial Profits Decreased by 4.4 percent in the First Eight Months of 2020

National Bureau of Statistics of China 2020-09-28 09:30 Print| Large| Medium| Small

From January to August, the total profits of industrial enterprises above designated size nationwide reached 3,716.65 billion yuan, a year-on-year decrease of 4.4 percent (calculated according to the comparable caliber, see Note II for details), and the decrease rate was 3.7 percentage points lower than that in January to July.

 

From January to August, the total profits of state-owned holding enterprises were 950.94 billion yuan, a year-on-year decrease of 17.0 percent; the total profits of joint-stock enterprises were 2,634.08 billion yuan, down 5.2 percent; the total profits of foreign-funded and Hong Kong, Macao and Taiwan invested enterprises were 1,038.44 billion yuan, down 0.4 percent; and the total profits of private enterprises were 1,069.97 billion yuan, down 3.3 percent.

 

From January to August, the total profit of mining industry was 233.6. billion yuan, down 38.1 percent year-on-year; the total profit of manufacturing industry was 3,141.55 billion yuan, down 1.0 percent; the total profit of power, heat, gas and water production and supply industry was 341.5 billion yuan, up 0.9 percent.

 

From January to August, among the 41 major industrial sectors, the total profits of 16 industries increased year on year, while 25 industries decreased. The profits of major industries are as follows: the total profits of computer, communication and other electronic equipment manufacturing industry increased by 26.1 percent, special equipment manufacturing industry increased by 22.9 percent, agricultural and sideline food processing industry increased by 17.7 percent, general equipment manufacturing industry increased by 7.6 percent, manufacturing of textile rose by 1.6 percent, automobile manufacturing industry increased by 1.5 percent, power and heat production and supply industry increased by 0.6 percent, oil, coal and other fuel processing industries decreased by 84.4 percent, oil and gas exploitation industry decreased by 70.2 percent, coal mining and washing industry decreased by 30.0 percent, ferrous metal smelting and processing industry decreased by 23.1 percent, and chemical raw materials and chemical products manufacturing industry decreased by 22.0 percent, nonferrous metal smelting and processing industry decreased by 5.6 percent, non-metallic mineral products industry decreased by 3.8 percent, electrical machinery and equipment manufacturing industry dropped by 1.3 percent.

 

From January to August, the operating revenue of industrial enterprises above designated size reached 64.20 trillion yuan, a year-on-year decrease of 2.7 percent; the operating costs of 54.15 trillion yuan, a decrease of 2.5 percent; the profit margin of operating income was 5.79 percent, a year-on-year decrease of 0.11 percentage point.

 

At the end of August, the assets of industrial enterprises above designated size totaled 122.25 trillion yuan, up 6.7 percent year on year; liabilities totaled 69.29 trillion yuan, up 6.6 percent; owner's equity totaled 52.96 trillion yuan, an increase of 6.8 percent; the asset liability ratio was 56.7 percent, unchanged year-on-year.

 

At the end of August, the accounts receivable of industrial enterprises above designated size reached 15.97 trillion yuan, an increase of 14.5 percent over the same period of last year, and the inventory of finished products was 4.55 trillion yuan, an increase of 7.9 percent.

 

From January to August, the cost of industrial enterprises above designated size per 100 yuan of operating income was 84.35 yuan, an increase of 0.15 yuan on a year-on-year basis; the cost of operating income per hundred yuan was 8.93 yuan, an increase of 0.16 yuan year-on-year.

 

At the end of August, the operating income of industrial enterprises above designated size per 100 yuan of assets was 81.2 yuan, a year-on-year decrease of 7.6 yuan; the per capita operating income was 1.339 million yuan, with a year-on-year increase of 15,000 yuan; the turnover days of finished goods inventory was 19.5 days, with a year-on-year increase of 1.9 days; the average recovery period of accounts receivable was 55.6 days, an increase of 7.9 days.

 

In August, the total profits of industrial enterprises above designated size reached 612.81 billion yuan, a year-on-year increase of 19.1 percent, 0.5 percentage point lower than that in July.

 

 

 

 

Key Financial Indicators of Industrial Enterprises

above the Designated Size in the First Eight Months of 2020

 

Table I

Indicators

Operating Income

Operating Costs

Total Profits

Jan-Aug (100 million yuan)

Increase rate Y/Y

(%)

Jan-Aug (100 million yuan)

Increase rate Y/Y

(%)

Jan-Aug (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

641977.9

-2.7

541536.4

-2.5

37166.5

-4.4

Of which: Mining and Quarrying

24072.5

-10.6

17865.5

-5.4

2336.0

-38.1

Manufacturing

566990.5

-2.4

479030.4

-2.4

31415.5

-1.0

Production and Distribution of Electricity, Heat, Gas and Water

50914.9

-1.5

44640.6

-1.7

3415.0

0.9

 Of which: State-holding Enterprises

171804.5

-3.6

141432.0

-2.6

9509.4

-17.0

            Joint-Stock Enterprises

478398.4

-2.5

403989.9

-2.3

26340.8

-5.2

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

145961.1

-2.8

122284.2

-2.7

10384.4

-0.4

Of which: Private Enterprises

220933.7

-2.4

191324.3

-2.6

10699.7

-3.3

 

 

 

 

 

 

 

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 Eight Months of 2020

 

 

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 Accounts Receivable

Jan-Aug (%)

Jan- Aug (yuan)

Jan- Aug (yuan)

By the end of August (yuan)

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

By the end of August (%)

By the end of August (days)

By the end of August (days)

 

 

 

 

 

 

 

 

 

Total

5.79

84.35

8.93

81.2

133.9

56.7

19.5

55.6

Of which: Mining and Quarrying

9.70

74.22

12.72

36.9

83.3

59.4

14.6

46.0

Manufacturing

5.54

84.49

8.98

95.8

132.3

55.8

21.4

57.0

Production and Distribution of Electricity, Heat, Gas and Water

6.71

87.68

6.63

38.1

230.9

59.2

0.9

45.2

 Of which: State-holding Enterprises

5.54

82.32

8.04

55.9

202.5

57.6

14.8

46.2

           Joint-Stock Enterprises

5.51

84.45

9.00

78.1

133.4

57.4

20.0

53.2

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

7.11

83.78

9.05

95.2

136.1

53.8

19.1

66.5

Of which: Private Enterprises

4.84

86.60

8.52

118.7

111.4

58.4

20.0

49.0

 

 

 

 

 

 

 

 

 

                   

 

Key Financial Indicators of Industrial Enterprises above the

Designated Size in the First Eight Months of 2020 (Group by Industries)

 

Table III

Indicators

Operating Income

Operating Costs

Total Profits

Jan- Aug (100 million yuan)

Increase rate Y/Y

(%)

Jan- Aug (100 million yuan)

Increase rate Y/Y

(%)

Jan- Aug (100 million yuan)

Increase rate Y/Y

(%)

 

 

 

 

 

 

 

Total

641977.9

-2.7

541536.4

-2.5

37166.5

-4.4

Mining and Washing of Coal

12414.4

-11.2

8851.8

-8.0

1362.7

-30.0

Extraction of Petroleum and Natural Gas

4300.5

-21.2

3149.8

-3.5

376.1

-70.2

Mining of Ferrous Metal Ores

2400.0

5.0

1902.8

5.5

210.7

31.3

Mining of Non-Ferrous Metal Ores

1638.8

-5.1

1189.2

-5.9

198.3

-1.7

Mining And Processing of Nonmetal Ores

2097.4

-2.6

1600.1

-3.3

189.9

-1.9

Mining Support Service Activities

1214.3

-7.9

1166.6

-7.4

-2.8

-122.4

Mining of Other Ores N.E.C

7.1

-62.6

5.1

-69.3

1.0

66.7

Processing of Food From Agricultural Products

29170.2

1.6

26484.4

1.4

1127.1

17.7

Manufacture of Foods

12266.7

1.8

9426.3

0.7

1150.9

10.8

Manufacture of Wines, Beverage and Refined Tea

9405.8

-5.1

6297.0

-6.1

1444.8

-0.5

Manufacture of Cigarettes And Tobacco

8355.3

4.6

2573.0

-3.7

1137.2

26.7

Manufacture of Textile

13635.1

-11.8

12049.5

-12.9

585.1

1.6

Manufacture of Textile Wearing Apparel And Ornament

8198.9

-14.4

7047.1

-14.0

350.8

-25.6

Manufacture of  Leather, Fur, Feather Aad Its Products

6290.4

-17.0

5457.1

-16.9

331.1

-25.9

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

4937.6

-7.9

4431.1

-7.9

183.1

-13.9

Manufacture of Furniture

3962.8

-11.1

3309.9

-11.0

195.0

-27.3

Manufacture of  Paper and Paper Products

7863.7

-6.5

6748.4

-7.8

396.8

7.2

Printing, Reproduction of Recording Media

3804.8

-7.9

3196.8

-7.8

223.6

-10.9

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

7342.2

-9.5

6377.3

-9.5

324.5

-20.0

Petroleum, coal and other Fuel Manufacturing

26345.9

-13.6

22291.3

-12.8

111.5

-84.4

Manufacture of Chemical Raw Material  and Chemical Products

38380.0

-8.0

32386.5

-7.4

2099.5

-22.0

Manufacture of Medicines

15030.0

0.1

8644.5

2.4

2140.1

7.4

Manufacture of Chemical Fibres

5022.5

-15.5

4644.9

-15.1

111.0

-33.4

Manufacture of Rubber and Plastics Products

14880.1

-5.4

12447.8

-7.2

952.5

19.5

Manufacture of Non-Metallic Mineral Products

33227.7

-3.2

27505.0

-3.2

2682.4

-3.8

Manufacture and Processing of Ferrous Metals

44773.8

0.0

41578.5

1.0

1374.4

-23.1

Manufacture and Processing of Non-Ferrous Metals

34687.0

0.9

32706.6

0.9

684.7

-5.6

Manufacture of Fabricated Metal Products

21430.3

-3.5

18842.0

-3.6

857.9

-6.1

Manufacture of General-Purpose Machinery

23877.1

-1.1

19584.4

-1.6

1661.6

7.6

Manufacture of Special-Purpose Machinery

19155.3

3.8

15045.2

2.4

1635.2

22.9

Manufacture of Motor Vehicles

47887.1

-1.8

40619.1

-1.6

3084.8

1.5

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

6592.5

-3.4

5611.4

-3.4

336.4

-3.6

Manufacture of Electrical Machinery and Equipment

38887.4

-2.0

32871.9

-1.9

2168.4

-1.3

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

72173.6

7.3

63014.8

7.1

3409.5

26.1

Manufacture of Measuring Instrument and Meter

4353.5

0.4

3290.7

-0.2

439.6

11.9

Other Manufacturing

1026.2

-3.5

864.3

-3.5

55.7

-6.9

Waste Recycling and Recovery

3243.2

4.6

3013.6

5.1

127.0

-3.3

Repair of  Fabricated Metal Products, Machinery and Equipment

783.7

-5.5

670.4

-2.3

33.6

-38.6

Production and Supply of Electric Power and Heat Power

43509.8

-0.5

38511.7

-0.6

2789.4

0.6

Production and Distribution of Gas

5426.4

-10.2

4688.9

-11.1

402.0

-0.5

Production and Distribution of Water

1978.7

2.8

1439.9

3.9

223.6

6.4

 

 

 

 

 

 

 

Note : 1. 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.

 

3. 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 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.

 

In the Notice on Revising and Printing the Format of Financial Statements of General Enterprises in 2019 (FA [2019] No. 6), the Ministry of Finance revised the format of financial statements of general enterprises. The items of "notes receivable and accounts receivable" are no longer listed in the balance sheet of enterprises, but "notes receivable" and "accounts receivable" are listed respectively. In order to be consistent with the financial statements of the enterprise, from 2020, the monthly "notes receivable and accounts receivable" data will be stopped and the "accounts receivable" data will be released instead. Relevant indicators shall be adjusted accordingly.

 

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

 

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

 

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

 

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

 

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

 

13. Revenue from Activities per Capita = revenue from activities / 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 / revenue from activities × the cumulative number of months / 12, unit: days.

 

16. 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.

 

17. 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 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. 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.