The Profit of Industrial Enterprises above Designated Size from January to March in 2021

Published: May 06, 2021 14:42 (GMT+8)
From January to March, China's industrial enterprises above designated size achieved a total profit of 1,825.38 billion yuan, a year-on-year increase of 1.37 times (according to the comparable caliber, see Note 2 for details), an increase of 50.2 percent over January to March 2019, and an average increase of 22.6 percent in two years.

From January to March, China's industrial enterprises above designated size achieved a total profit of 1,825.38 billion yuan, a year-on-year increase of 1.37 times (according to the comparable caliber, see Note 2 for details), an increase of 50.2 percent over January to March 2019, and an average increase of 22.6 percent in two years.

From January to March, among the industrial enterprises above designated size, state-owned holding enterprises achieved a total profit of 616.54 billion yuan, a year-on-year increase of 1.99 times; The total profits of joint-stock enterprises reached 1,279.27 billion yuan, an increase of 1.29 times; The total profits of enterprises invested by foreign investors, Hong Kong, Macao and Taiwan reached 512.81 billion yuan, an increase of 1.61 times; The total profit of private enterprises was 516.33 billion yuan, an increase of 91.9 percent.

From January to March, the total profit of mining industry was 151.95 billion yuan, up 77.1 percent year on year; The total profit of manufacturing industry was 1,536.63 billion yuan, an increase of 1.58 times; Power, heat, gas and water production and supply industry realized a total profit of 136.8 billion yuan, an increase of 56.9 percent.

From January to March, of the 41 major industries, the total profits of 39 increased year-on-year, one turned losses into profits, and one realized loss reduction. The profits of the main industries were as follows: the total profits of automobile manufacturing industry increased by 8.43 times, that of non-ferrous metal smelting and processing industry increased by 4.71 times, that of ferrous metal smelting and processing industry increased by 3.88 times, that of chemical raw materials and chemical products manufacturing industry increased by 3.43 times, that of electrical machinery and equipment manufacturing industry increased by 1.67 times, that of special equipment manufacturing industry increased by 1.46 times, and that of computer, communications and other electronic equipment manufacturing industry increased by 1.41 times, that of general equipment manufacturing industry increased by 1.19 times, that of coal mining and washing industry increased by 94.3 percent, that of non-metallic mineral products industry increased by 69.1 percent, that of power and heat production and supply industry increased by 50.7 percent, that of textile industry increased by 40.4 percent, that of agricultural and sideline food processing industry increased by 28.9 percent, and that of oil and natural gas exploration industry increased by 18.4 percent.

From January to March, the operating revenue of industrial enterprises above designated size reached 27.48 trillion yuan, a year-on-year increase of 38.7 percent; The operating costs incurred were 22.91 trillion yuan, an increase of 36.5 percent; The profit margin of operating revenue was 6.64 percent, up 2.76 percentage points year on year.

At the end of March, the assets of industrial enterprises above designated size totaled 128.70 trillion yuan, up 9.5 percent year on year; Total liabilities amounted to 72.47 trillion yuan, an increase of 9.0 percent; The total owner's equity was 56.23 trillion yuan, an increase of 10.1 percent; The asset liability ratio was 56.3 percent, a year-on-year decrease of 0.3 percentage point.

At the end of March, the accounts receivable of industrial enterprises above designated size reached 16.59 trillion yuan, up 17.1 percent year on year; Finished goods inventory reached 4.73 trillion yuan, an increase of 8.5 percent.

From January to March, the cost per 100 yuan of operating income of industrial enterprises above designated size was 83.37 yuan, a year-on-year decrease of 1.36 yuan; The cost per 100 yuan of operating income was 8.60 yuan, a year-on-year decrease of 1.04 yuan.

At the end of March, the operating income of industrial enterprises above designated size per 100 yuan of assets was 86.0 yuan, an increase of 18.1 yuan year on year; The per capita operating income was 1.527 million yuan, an increase of 408 thousand yuan over the same period last year; The turnover days of finished goods inventory was 18.3 days, a year-on-year decrease of 4.7 days; The average payback period of accounts receivable was 53.8 days, a year-on-year decrease of 10.2 days.

In March, industrial enterprises above designated size achieved a total profit of 711.18 billion yuan, up 92.3 percent year on year.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Ghana draft bill proposes state special share and shorter mining leases
Oct 02, 2026 15:49 (GMT+8)
Ghana draft bill proposes state special share and shorter mining leases
Read More
Ghana draft bill proposes state special share and shorter mining leases
Ghana draft bill proposes state special share and shorter mining leases
[SMM Gold Flash] A draft mining bill reviewed by Reuters on 30 September would let Ghana’s mines minister require companies to issue the state a free special share with consent rights over major transactions. It would retain the existing 10% free-carried state interest and limit mining leases to 15 years or the projected mine life, whichever is shorter. The draft would also allow future rules requiring local processing and restricting exports of unprocessed concentrates. None of these proposals has been enacted; Reuters did not establish when the draft was prepared. For Ghana’s gold miners, the proposed rights and shorter leases could affect financing, valuations and renewal decisions. Under the draft, existing rights holders seeking renewal would receive priority consideration for equivalent licences. Mining companies expect further consultation before parliamentary debate, Reuters reported. The final wording and timing remain uncertain.
Oct 02, 2026 15:49 (GMT+8)
PGMs: Independent tests advance platinum and palladium battery technology
Oct 02, 2026 15:48 (GMT+8)
PGMs: Independent tests advance platinum and palladium battery technology
Read More
PGMs: Independent tests advance platinum and palladium battery technology
PGMs: Independent tests advance platinum and palladium battery technology
[SMM PGM Flash] Platinum Group Metals said on 1 October that independent testing by the Battery Innovation Center had validated its Lion Battery subsidiary’s platinum- and palladium-based electrodes in prototype lithium-sulphur cells. Compared with cells without the catalysts, the prototypes showed better capacity and rate capability, with palladium-rich formulations performing best overall. Platinum Group and Valterra Platinum, which own Lion 52% and 48% respectively, have approved funding for the next phase. The result offers a possible new use for PGMs beyond vehicle exhaust catalysts, but remains a prototype milestone. Lion plans to make and test pouch cells, refine the catalysts and assess applications including drones. Commercial performance and demand for significant PGM volumes have yet to be established. The work is relevant to Southern African suppliers: Valterra produces PGMs in South Africa and Zimbabwe, while Platinum Group is developing South Africa’s Waterberg project.
Oct 02, 2026 15:48 (GMT+8)
Sibanye reaches East Boulder wage agreement; separate US strike continues
Oct 01, 2026 16:45 (GMT+8)
Sibanye reaches East Boulder wage agreement; separate US strike continues
Read More
Sibanye reaches East Boulder wage agreement; separate US strike continues
Sibanye reaches East Boulder wage agreement; separate US strike continues
[SMM PGM Flash] Sibanye-Stillwater announced on 30 September that workers at its East Boulder platinum and palladium mine in Montana had ratified a collective agreement with the United Steelworkers. The deal runs retroactively from 1 August 2026 to 31 July 2029, with a 4.5% wage increase in year one, the greater of 3.5% or CPI in year two and the greater of 3.0% or CPI in year three. Strike action at the separate Stillwater East mine and Columbus metallurgical facility continues, the company said. The East Boulder settlement fixes part of the labour-cost path for Sibanye’s US PGM business and supports its planned shift towards more mechanised mining and team-based incentives. It does not resolve the other strike or demonstrate a recovery in output; the company disclosed no revised production guidance in this release.
Oct 01, 2026 16:45 (GMT+8)