Bureau of Statistics: profits of large-scale industrial enterprises across the country fell by 4.4% from January to August.

SMM News: from January to August, the total profits of industrial enterprises above the national scale reached 3.71665 trillion yuan, down 4.4% from the same period last year (calculated in terms of comparable caliber, see note 2 for details), and the rate of decline was 3.7 percentage points lower than that in January-July.

From January to August, among industrial enterprises above scale, the total profits of state-controlled enterprises were 950.94 billion yuan, down 17.0% from the same period last year; the total profits of joint-stock enterprises were 2.63408 trillion yuan, down 5.2%; the total profits of foreign investors and Hong Kong, Macao and Taiwan investment enterprises were 1.03844 trillion yuan, down 0.4%; and the total profits of private enterprises were 1.06997 trillion yuan, down 3.3%.

From January to August, the total profits of the mining industry totaled 233.6 billion yuan, down 38.1 percent from the same period last year; the total profits of the manufacturing industry totaled 3.14155 trillion yuan, down 1.0 percent; and the total profits of the electricity, heat, gas and water production and supply industries totaled 341.5 billion yuan, up 0.9 percent.

From January to August, of the 41 major industrial sectors, the total profits of 16 industries increased compared with the same period last year, while 25 industries decreased. The profits of the main industries are as follows: the total profits of the computer, communications and other electronic equipment manufacturing industry increased by 26.1% over the same period last year, the special equipment manufacturing industry increased by 22.9%, the agricultural and non-staple food processing industry grew by 17.7%, and the general equipment manufacturing industry grew by 7.6%. The textile industry grew by 1.6%, the automobile manufacturing industry by 1.5%, and the power, thermal production and supply industry by 0.6%. The oil, coal and other fuel processing industry fell by 84.4%, the oil and natural gas mining industry by 70.2%, the coal mining and washing industry by 30.0%, the ferrous metal smelting and Calendering industry by 23.1%, the chemical raw materials and chemical products manufacturing industry by 22.0%, the non-ferrous metal smelting and Calendering industry by 5.6%, and the non-metallic mineral industry by 3.8%. The manufacturing industry of electrical machinery and equipment fell by 1.3%.

From January to August, the operating income of industrial enterprises above scale reached 64.2 trillion yuan, down 2.7% from the same period last year; the operating cost was 54.15 trillion yuan, down 2.5%; and the profit margin of operating income was 5.79%, down 0.11% from the same period last year.

At the end of August, the assets of industrial enterprises above scale totaled 122.25 trillion yuan, up 6.7 percent over the same period last year; liabilities totaled 69.29 trillion yuan, up 6.6 percent; owners' equity totaled 52.96 trillion yuan, up 6.8 percent; and the asset-liability ratio was 56.7 percent, unchanged from the same period last year.

At the end of August, accounts receivable of industrial enterprises above scale totaled 15.97 trillion yuan, up 14.5 percent over the same period last year, and inventory of finished goods totaled 4.55 trillion yuan, up 7.9 percent.

From January to August, the cost of industrial enterprises above 100 yuan of operating income was 84.35 yuan, an increase of 0.15 yuan over the same period last year, and the cost of every 100 yuan of operating income was 8.93 yuan, an increase of 0.16 yuan over the same period last year.

At the end of August, the operating income of industrial enterprises above scale reached 81.2 yuan per 100 yuan of assets, down 7.6 yuan from the same period last year; the per capita operating income was 1.339 million yuan, an increase of 15000 yuan over the same period last year; the turnover of inventory of finished goods was 19.5 days, an increase of 1.9 days over the same period last year; the average payback period of accounts receivable was 55.6days, an increase of 7.9 days over the same period last year.

In August, the total profits of industrial enterprises above scale reached 612.81 billion yuan, an increase of 19.1% over the same period last year, and the growth rate was 0.5% lower than that in July.