Industrial profits decreased 27.4% in the first four months of 2020

Jun 04, 2020  |  by Zhao xh


In the first four months of 2020, the profits made by industrial enterprises above the designated size achieved 1,259.79 billion yuan, a year-on-year decrease of 27.4 percent (calculated on comparable basis), and the pace of decline narrowed 9.3 percentage points over the first three months.
In the first four months, among the industrial enterprises above the designated size, the profits of state-holding industrial enterprises gained 304.63 billion yuan, a decrease of 46.0 percent year-on-year, that of joint-stock enterprises stood at 924.9 billion yuan, fell by 26.6 percentage points, that of foreign funded enterprises, and enterprises funded from Hong Kong, Macao and Taiwan achieved 312.13 billion yuan, decreased by 28.8 percent; and that of private enterprises gained 392.01 billion yuan, a decrease of 17.2 percent.
 
In the first four months, the profits of mining and quarrying reached 111.01 billion yuan, a decrease of 35.2 percent year-on-year, that of manufacturing was 1,026.95 billion yuan, a decrease of 26.8 percent, that of production and distribution of electricity, heat, gas and water reached 121.83 billion yuan, down by 24.3 percent.
 
In the first four months, within 41 branches of industrial divisions, the industrial profits of 5 industrial divisions increased year-on-year, and that of 36 decreased. In view of the profit growth of major industries, that of manufacture of tobacco products, processing of food from agricultural products, manufacture of computer, communication equipment and other electronic equipment, increased by 22.6, 20.0 and 15.0 percent; that of smelting and pressing of ferrous metals, extraction of petroleum and natural gas, manufacture of motor vehicles, manufacture of chemical raw material and chemical products, smelting and pressing of non-ferrous metals, mining and washing of coal, production and distribution of electricity and heat power, manufacture of electrical machinery and equipment, manufacture of textile, manufacture of non-metallic mineral products, manufacture of general-purpose machinery, manufacture of special-purpose machinery, respectively decreased by 60.4, 56.4, 52.1, 48.0, 40.3, 27.0, 27.0, 22.9, 19.8, 19.7, 17.6 and 3.1 percent, and processing of petroleum, coal and other fuels changed from profit to loss in the same period.
 
In the first four months, the revenue from activities of industrial enterprises above the designated size reached 28.31 trillion yuan, decreased by 9.9 percent year-on-year. The costs of operating were 24.04 trillion yuan, down by 9.1 percent. The profit rate revenue from operating was 4.45 percent, a decrease of 1.07 percentage points year-on-year.
 
By the end of April, the total assets of industrial enterprises above the designated size was 117.69 trillion yuan, increased by 6.3 percent year-on-year; the total liabilities reached 66.80 trillion yuan, increased by 6.2 percent; the total owners’ equity was 50.89 trillion yuan, increased by 6.4 percent. The asset-liability ratio was 56.8 percent, unchanged year-on-year.
 
By the end of April, the total volume of accounts receivable for industrial enterprises above designated hit 14.43 trillion yuan, went up by 9.9 percent year-on-year. The total inventory value of finished products for industrial enterprises accounted for 4,427.72 billion yuan, increased by 10.6 percent.
 
In the first four months, the costs for per-hundred-yuan of business income above the designated size stood at 84.91 yuan, an increase of 0.69 yuan year-on-year, that of the expenses for per-hundred-yuan stood at 9.23 yuan, an increase of 0.36 yuan year-on-year.
 
By the end of April, the revenue activities brought by per-hundred-yuan assets above the designated size was 73.0 yuan, a decrease of 13.1 yuan year-on-year; the revenue from activities per capita was 1,198 thousand yuan, a decrease of 74 thousand yuan year-on-year; the turnover days of finished goods were 21.7 days, an increase of 3.8 days from that in the previous year; the days of accounts receivable hit an average of 59.8 days, an increase of 11.2 days year-on-year.
 
In April, industrial enterprises above the designated size posted a total profit of 478.14 billion yuan, down 4.3 percent year on year, and the pace of decline narrowed 30.6 percentage points than that in March.
Source: National Bureau of Statistics of China

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