Added Value of Photovoltaic Manufacturing Increased 113.1% and that of the Rare Earth Industry Grew 60.6% from January to August 2022 in Baotou City

SHANGHAI, Oct 10 (SMM) - From January to August 2022, the added value of industries above the designated size in Baotou City increased for 24 consecutive months by 17.4% year-on-year, up 0.8 percentage points from January to July 2022 (16.6%) and 0.3 percentage points from the first half of 2022 (17.1%). It is 13.8 and 8.8 percentage points higher than the whole country (3.6%) and Inner Mongolia (8.6%), and it has remained the first among the 12 cities in Inner Mongolia for 14 consecutive months.

The added value of the mining industry added 6.6% year-on-year, that of the manufacturing industry grew 21.5%, and that of the production and supply industry of electricity, heat, gas and water increased 11.4%. The added value of the six key industries of steel, aluminium, equipment manufacturing, rare earth, electric power and photovoltaic manufacturing grew 25.3% year-on-year, of which the added value of photovoltaic manufacturing increased 113.1% and that of the rare earth industry added 60.6%.

The connection between production and sales has remained smooth. The output of monocrystalline silicon increased 85.4% year-on-year, that of special mining equipment rose 73.0%, that of single rare earth metals increased 55.1%, that of polysilicon grew 37.2%, and that of rare earth compounds added 27.1%. The sales were in good condition, and the product sales rate of industrial enterprises stood at 99.0%. The support of key enterprises was strong, and the vitality of private industries was enhanced. The top 50 enterprises completed an output value of 254.29 billion yuan, accounting for 82.1% of the city's total output value, an increase of 40.4% year-on-year. Among the top 20 enterprises in terms of output value, 15 of them had cumulative output value growth rates of more than 20%.

In addition, the added value of private industries above the designated size increased 19.8% year-on-year, 2.4 percentage points higher than that of industries above the designated size. The benefits of enterprises have improved significantly, and the total profits grow substantially. From January to July, the industrial enterprises above the designated size in Baotou achieved an operating income of 286.78 billion yuan, a year-on-year increase of 29.7%; Total profit was 28.04 billion yuan, up 23.7%; The profit margin of operating income stood at 9.8%.