The Profit of Industrial Enterprises above Designated Size in 2021

In 2021, industrial enterprises above designated size achieved a total profit of 8,709.21 billion yuan, an increase of 34.3 percent over the previous year (calculated according to comparable standards, see note II for details), an increase of 39.8 percent over 2019 and an average increase of 18.2 percent over the two years.

In 2021, among industrial enterprises above designated size, state-owned holding enterprises achieved a total profit of 2,276.97 billion yuan, an increase of 56.0 percent over the previous year; joint stock enterprises realized a total profit of 6,270.22 billion yuan, an increase of 40.2 percent; the total profits of foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan reached 2,284.55 billion yuan, an increase of 21.1 percent; the total profits of private enterprises reached 2,915.04 billion yuan, an increase of 27.6 percent.

In 2021, the mining industry realized a total profit of 1,039.08 billion yuan, an increase of 1.91 times over the previous year; the total profit of the manufacturing industry was 7,361.22 billion yuan, an increase of 31.6 percent; the total profit of power, heat, gas and water production and supply industry was 308.92 billion yuan, down 41.9 percent.

In 2021, among the 41 major industrial industries, 32 industries' total profits increased over the previous year, 8 industries decreased, and 1 industry changed from profit to loss. The profits of the main industries are as follows: the total profits of the oil and gas exploitation industry increased by 5.85 times over the previous year, the petroleum, coal and other fuel processing industry increased by 2.24 times, the coal exploitation and washing industry increased by 2.13 times, the non-ferrous metal smelting and processing industry increased by 1.16 times, the chemical raw materials and chemical products manufacturing industry increased by 87.8 percent, and the ferrous metal smelting and processing industry increased by 75.5 percent, computer, communication and other electronic equipment manufacturing industry increased by 38.9 percent, non-metallic mineral products industry increased by 14.3 percent, electrical machinery and equipment manufacturing industry increased by 12.2 percent, special equipment manufacturing industry increased by 10.2 percent, general equipment manufacturing industry increased by 8.3 percent, textile industry increased by 4.1 percent, automobile manufacturing industry increased by 1.9 percent, agricultural and sideline food processing industry decreased by 9.2 percent, and power and heat production and supply industry decreased by 57.1 percent.

In 2021, industrial enterprises above designated size achieved an operating revenue of 127.92 trillion yuan, an increase of 19.4 percent over the previous year; the operating cost was 107.12 trillion yuan, an increase of 19.1 percent; the profit margin of operating income was 6.81 percent, an increase of 0.76 percentage point over the previous year.

At the end of 2021, the assets of industrial enterprises above designated size totaled 141.29 trillion yuan, an increase of 9.9 percent over the previous year; liabilities totaled 79.23 trillion yuan, an increase of 9.6 percent; the total owner's equity was 62.06 trillion yuan, an increase of 10.2 percent; the asset liability ratio was 56.1 percent, down 0.1 percentage point from the previous year.

At the end of 2021, the accounts receivable of industrial enterprises above designated size were 18.87 trillion yuan, an increase of 13.3 percent over the previous year; the inventory of finished products was 5.40 trillion yuan, an increase of 17.1 percent.

In 2021, the cost per 100 yuan of operating income of industrial enterprises above designated size was 83.74 yuan, a decrease of 0.23 yuan over the previous year; the expense per 100 yuan of operating income was 8.59 yuan, a decrease of 0.59 yuan over the previous year.

At the end of 2021, the operating income of industrial enterprises above designated size per 100 yuan of assets was 95.4 yuan, an increase of 7.7 yuan over the previous year; the per capita operating income was 1.72 million yuan, an increase of 284,000 yuan over the previous year; the inventory turnover days of finished products were 16.8 days, a decrease of 0.9 day over the previous year; the average recovery period of accounts receivable was 49.5 days, a decrease of 2.0 days over the previous year.

In December 2021, industrial enterprises above designated size achieved a total profit of 734.2 billion yuan, a year-on-year increase of 4.2 percent.

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.

Note: The total of some indicators in this table is not equal to the sum of sub items, which is caused by data rounding, without mechanical 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.

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. The two-year average growth rate refers to the growth rate calculated by geometric average method based on the corresponding number of the same period in 2019.

18. 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. 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 Industrial Classification for National Economic Activities (GB/T4754-2017) was implemented, please refer to http://www.stats.gov.cn/tjsj/tjbz/hyflbz.