National Bureau of Statistics (NBS): In 2024, the profit of China's lithium battery manufacturing industry will grow by 48.5%.

According to data recently released by the National Bureau of Statistics (NBS), in 2024, industrial enterprises above the designated size nationwide achieved a total profit of 7,431.05 billion yuan, a decrease of 3.3% compared to the previous year.

In 2024, among industrial enterprises above the designated size, state-controlled enterprises achieved a total profit of 2,139.73 billion yuan, a decrease of 4.6% compared to the previous year; joint-stock enterprises achieved a total profit of 5,616.64 billion yuan, a decrease of 3.6%; foreign-invested enterprises and enterprises from Hong Kong, Macao, and Taiwan achieved a total profit of 1,763.79 billion yuan, a decrease of 1.7%; private enterprises achieved a total profit of 2,324.58 billion yuan, an increase of 0.5%.

In 2024, the mining industry achieved a total profit of 1,127.19 billion yuan, a decrease of 10.0% compared to the previous year; the manufacturing industry achieved a total profit of 5,514.11 billion yuan, a decrease of 3.9%; the electricity, heat, gas, and water production and supply industries achieved a total profit of 789.76 billion yuan, an increase of 14.5%.

In 2024, the profitability of major industries was as follows: the electricity and heat production and supply industry saw a profit increase of 17.8% compared to the previous year; the non-ferrous metal smelting and rolling processing industry increased by 15.2%; the petroleum and natural gas extraction industry increased by 14.2%; the textile industry increased by 3.4%; the computer, communication, and other electronic equipment manufacturing industry increased by 3.4%; the specialized equipment manufacturing industry increased by 1.1%; the general equipment manufacturing industry increased by 0.7%. Meanwhile, the agricultural and sideline food processing industry decreased by 0.2%; the electrical machinery and equipment manufacturing industry decreased by 2.0%; the automobile manufacturing industry decreased by 8.0%; the chemical raw materials and chemical products manufacturing industry decreased by 8.6%; the coal mining and washing industry decreased by 22.2%; the non-metallic mineral products industry decreased by 45.1%; the ferrous metals smelting and rolling processing industry decreased by 54.6%; and the petroleum, coal, and other fuel processing industry turned from profit to loss compared to the previous year.

In 2024, industrial enterprises above the designated size achieved operating revenue of 137.77 trillion yuan, an increase of 2.1% compared to the previous year; operating costs amounted to 117.31 trillion yuan, an increase of 2.5%; the operating revenue profit margin was 5.39%, a decrease of 0.3 percentage points compared to the previous year.

At the end of 2024, the total assets of industrial enterprises above the designated size amounted to 178.54 trillion yuan, an increase of 4.5% compared to the end of the previous year; total liabilities amounted to 102.71 trillion yuan, an increase of 4.8%; total owners' equity amounted to 75.83 trillion yuan, an increase of 4.2%; the asset-liability ratio was 57.5%, an increase of 0.1 percentage points compared to the end of the previous year.

At the end of 2024, accounts receivable of industrial enterprises above the designated size amounted to 26.06 trillion yuan, an increase of 8.6% compared to the end of the previous year; finished goods inventory amounted to 6.44 trillion yuan, an increase of 3.3%.

In 2024, the cost per 100 yuan of operating revenue for industrial enterprises above the designated size was 85.16 yuan, an increase of 0.36 yuan compared to the previous year; the expense per 100 yuan of operating revenue was 8.59 yuan, a decrease of 0.01 yuan compared to the previous year.

At the end of 2024, the operating revenue per 100 yuan of assets for industrial enterprises above the designated size was 79.5 yuan, a decrease of 2.7 yuan compared to the end of the previous year; the operating revenue per capita was 1.861 million yuan, an increase of 69,000 yuan compared to the end of the previous year; the turnover days of finished goods inventory were 19.2 days, an increase of 0.1 days compared to the end of the previous year; the average collection period for accounts receivable was 64.1 days, an increase of 3.9 days compared to the end of the previous year.

Additionally, Yu Weining, a statistician from the NBS Industrial Division, mentioned when interpreting the profit data of industrial enterprises that high-tech manufacturing demonstrated strong development momentum. In 2024, new industrial momentum accelerated, boosting the profits of high-tech manufacturing by 4.5% compared to the previous year, 7.8 percentage points higher than the average level of industrial enterprises above the designated size, and contributing 0.8 percentage points to the profit growth of these enterprises. In the high-end equipment manufacturing sector, the profits of the optoelectronic device manufacturing and spacecraft and carrier rocket manufacturing industries increased by 66.9% and 13.4%, respectively, compared to the previous year. In the intelligent sector, the profits of the intelligent unmanned aerial vehicle manufacturing, intelligent in-vehicle equipment manufacturing, and wearable intelligent device manufacturing industries increased by 164.7%, 112.8%, and 37.7%, respectively. In the green manufacturing sector, the lithium-ion battery manufacturing industry grew by 48.5% . Among other high-tech industries, the profits of the electronic circuit manufacturing, navigation, mapping, meteorological, and marine-specific instrument manufacturing, and optical instrument manufacturing industries increased by 30.3%, 26.3%, and 13.2%, respectively, maintaining a rapid growth trend.