The Profits of Industrial Enterprises above Designated Size from January to September in 2025

From January to September, the total profits of industrial enterprises above the designated size nationwide reached 5,373.20 billion yuan, up by 3.2% year on year (calculated on a comparable basis, see Annotation 2 for details).

From January to September, among industrial enterprises above the designated size, state-holding enterprises realized a total profit of 1,702.18 billion yuan, a year-on-year decrease of 0.3%; share-holding enterprises realized a total profit of 3,992.35 billion yuan, an increase of 2.8%; foreign-invested enterprises and enterprises with investment from Hong Kong, Macau, and Taiwan realized a total profit of 1,350.97 billion yuan, an increase of 4.9%; private enterprises realized a total profit of 1,513.17 billion yuan, an increase of 5.1%.

From January to September, the mining industry realized a total profit of 636.92 billion yuan, a year-on-year decrease of 29.3%; the manufacturing industry realized a total profit of 4,067.18 billion yuan, an increase of 9.9%; the production and supply of electricity, thermal power, gas and water realized a total profit of 669.10 billion yuan, an increase of 10.3%.

From January to September, the profits for main industries were as follows: the profit of the production and supply of electricity and thermal power increased by 14.4% year on year, that of the smelting and pressing of non-ferrous metals increased by 14.0%, that of the processing of food from agricultural products increased by 12.5%, that of the manufacture of computers, communication equipment and other electronic equipment increased by 12.0%, that of the manufacture of electrical machinery and apparatus increased by 11.3%, that of the manufacture of general-purpose machinery increased by 8.4%, that of the manufacture of special-purpose machinery increased by 6.8%, that of the manufacture of non-metallic mineral products increased by 5.1%, that of the manufacture of automobiles increased by 3.4%, that of the smelting and processing of ferrous metals turned from decline to growth, that of the processing of petroleum, coal and other fuel recorded narrower losses year on year, that of the manufacture of raw chemical materials and chemical products decreased by 4.4%, that of the textile industry decreased by 5.9%, that of the extraction of petroleum and natural gas decreased by 13.3%, and that of the mining and washing of coal decreased by 51.1%.

From January to September, industrial enterprises above the designated size achieved a business revenue of 102.08 trillion yuan, a year-on-year increase of 2.4%; the operating costs incurred were 87.34 trillion yuan, an increase of 2.6%; the profit rate of business revenue was 5.26%, a year-on-year increase of 0.04 percentage points.

At the end of September, the assets of industrial enterprises above the designated size totaled 186.27 trillion yuan, a year-on-year increase of 5.0%; the liabilities totaled 107.96 trillion yuan, an increase of 5.2%; the owner’s equity totaled 78.31 trillion yuan, an increase of 4.7%; the asset-liability ratio was 58.0%, a year-on-year increase of 0.1 percentage points.

At the end of September, the accounts receivable of industrial enterprises above the designated size totaled 27.22 trillion yuan, a year-on-year increase of 5.7%; the inventory of finished goods was 6.71 trillion yuan, an increase of 2.8%.

From January to September, the costs for per-hundred-yuan business revenue of industrial enterprises above the designated size were 85.56 yuan, a year-on-year increase of 0.18 yuan; the expenses for per-hundred-yuan business revenue were 8.36 yuan, a year-on-year decrease of 0.16 yuan.

At the end of September, the business revenue brought by per-hundred-yuan assets of industrial enterprises above the designated size was 74.7 yuan, a year-on-year decrease of 1.9 yuan; the per capita business revenue was 1.856 million yuan, a year-on-year increase of 62 thousand yuan; the turnover days of finished goods inventory were 20.2 days, a year-on-year increase of 0.2 days; the average collection period for accounts receivable was 69.2 days, a year-on-year increase of 3.3 days.

In September, the profits of industrial enterprises above the designated size achieved a year-on-year increase of 21.6%.

Key Financial Indicators of Industrial Enterprises above the Designated Size from January to September in 2025

Notes:

1. Due to the overlap among economic type classifications, the sum of sub-items is greater than the total.

2. Due to rounding and without mechanical adjustment, the sub-items may not add up to the aggregate total.

Performance Indicators of Industrial Enterprises above the Designated Size from January to September in 2025

Key Financial Indicators of Industrial Enterprises above the Designated Size from January to September in 2025 (By Industry)

Notes:

1. As the processing of petroleum, coal and other fuels recorded losses in the same period last year, the year-on-year growth rate could not be calculated.

2. As the smelting and pressing of ferrous metals recorded losses in the same period last year, the year-on-year growth rate could not be calculated.

3. Due to rounding and without mechanical adjustments, the sub-items may not add up to the aggregate total.

Annotations:

I. Notes on Indicators

1. Total profits: refers to the surplus of total revenue after deducting total costs and expenses from the production of enterprises, reflecting the overall profit and loss during 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-of-use assets, including the total amount of revenue of enterprises recognized by the principal business and other business operations.

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

4. Total assets: refers to the resources derived 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 obligations generated from past transactions or events, and expected to bring an outflow of economic benefits from the enterprises.

6. Total owners’ equity: refers to the residual equity in the assets of an enterprise after deducting liabilities, which belongs to the owners.

7. Accounts receivable: refers to the amount that should be collected by an enterprise for 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 products, with all production processes having been finished by enterprises, that are accepted and stored after inspection, can be delivered to ordering units according to conditions in the contract or can be taken as goods for external sales; and various goods purchased or processed by external parties, which have been accepted and stored for sale.

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

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

11. Expenses for per-hundred-yuan business revenue = (selling expenses + administrative expenses + R&D expenses + financial expenses) / business revenue ×100, unit: yuan.

12. Business revenue brought by per-hundred-yuan assets = business revenue / average assets / the cumulative number of months × 12 × 100, unit: yuan.

13. Per capita business revenue = business revenue / average number of employees / 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 inventory = 360 × average finished goods inventory / operating 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 total profits for the three tables above, the “note” refers to negative total profits in the same period last year, which means loss, or 0.0 billion yuan; a positive value refers to a year-on-year increase of profits; a negative value which between 0 and –100% (exclusive of 0) refers to a year-on-year decrease of profits; a decline of more than 100% indicates a turnaround from profit in the same period of the previous year to loss in the current period; a value of 0 indicates that the profits remain at the same level as last year.

II. The growth rates of the total profits and business revenue of industrial enterprises above the designated size are calculated on a comparable basis. There are incomparable factors between the data in the reporting period and the corresponding 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 scope of industrial enterprises above the designated size is adjusted regularly every year. Each year, some companies are included in the survey after having reached the designated size, and some exit the survey due to their smaller size. Changes also include new enterprises, and there are also the effects of enterprises that are newly established, bankrupt, and enterprises with their business licenses cancelled (revoked). (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 the designated size have been cleared, and the relevant bases have been revised in accordance with regulations. (3) Data quality management has been strengthened, and duplicated statistical data across regions and industries have been eliminated.

III. Statistical Coverage

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

IV. Survey Method

Financial reports of enterprises above the designated size are subject to a comprehensive monthly survey (the data for January are not required to be reported).

V. Industrial Classification Standard

The Industrial Classification for National Economic Activities (GB/T4754-2017) was implemented.