Industrial Profits Increased by 0.7 Percent in the First Ten Months of 2020

From January to October, the total profits of industrial enterprises above designated size nationwide reached 5,012.42 billion yuan, a year-on-year increase of 0.7 percent (calculated according to the comparable caliber, see Note II for details), and which decreased by 2.4 percent in the first nine months.

From January to October, among the industrial enterprises above designated size, the state-owned holding enterprises achieved a total profit of 1,294.26 billion yuan, a year-on-year decrease of 7.5 percent; joint-stock enterprises achieved a total profit of 3,541.74 billion yuan, an increase of 0.4 percent; foreign-funded enterprises and enterprises invested in Hong Kong, Macao and Taiwan achieved a total profit of 1,409.55 billion yuan, an increase of 3.5 percent; and that of private enterprises reached 1,483.08 billion yuan, an increase of 1.1 percent.

From January to October, the total profit of mining industry was 307.23 billion yuan, a year-on-year decrease of 34.5 percent; the total profit of manufacturing industry was 4,256.01 billion yuan, an increase of 4.2 percent; the total profit of power, heat, gas and water production and supply industry was 449.18 billion yuan, an increase of 5.9 percent.

From January to October, the total profits of 25 industries increased year on year, while 16 industries decreased. The profits of major industries are as follows: the total profit of special equipment manufacturing industry increased by 22.9 percent, agricultural and sideline food processing industry increased by 14.6 percent, computer, communication and other electronic equipment manufacturing industry increased by 12.6 percent, general equipment manufacturing industry increased by 12.0 percent, textile industry increased by 7.6 percent, automobile manufacturing industry increased by 6.6 percent, electric power, heat production and supply industry increased by 5.7 percent, nonferrous metal smelting and processing industry grew by 5.0 percent, electrical machinery and equipment manufacturing industry rose by 3.5 percent, chemical raw materials and chemical products manufacturing increased by 2.8 percent, non-metallic mineral products industry increased by 0.9 percent, oil and natural gas exploitation industry increased by 68.5 percent, oil, coal and other fuel processing industry increased by 52.8 percent, coal mining and washing industry increased by 27.7 percent, and ferrous metal smelting and processing industry increased by 12.9 percent.

From January to October, the operating revenue of industrial enterprises above designated size reached 83.78 trillion yuan, a year-on-year decrease of 0.6 percent; the operating cost was 70.52 trillion yuan, a decrease of 0.6 percent; the profit margin of operating income was 5.98 percent, increased by 0.08 percentage point year-on-year.

At the end of October, the assets of industrial enterprises above designated size totaled 124.96 trillion yuan, up 6.9 percent year on year; liabilities totaled 70.72 trillion yuan, up 6.8 percent; owner's equity totaled 54.24 trillion yuan, an increase of 7.0 percent; the asset liability ratio was 56.6 percent, unchanged year-on-year.

At the end of October, the accounts receivable of industrial enterprises above designated size reached 16.77 trillion yuan, an increase of 15.9 percent over the same period of last year, and the inventory of finished products was 4.58 trillion yuan, an increase of 6.9 percent.

From January to October, the cost of per hundred yuan of operating income of industrial enterprises above designated size was 84.18 yuan, an increase of 0.04 yuan on a year-on-year basis; the cost of operating income per hundred yuan was 8.93 yuan, an increase of 0.14 yuan on a year-on-year basis.

At the end of October, the operating income of industrial enterprises above designated size per 100 yuan of assets was 83.8 yuan, a decrease of 6.1 yuan on a year-on-year basis; the per capita operating income was 1.387 million yuan, an increase of 38,000 yuan; the turnover days of finished goods inventory was 18.8 days, an increase of 1.5 days; the average recovery period of accounts receivable was 54.7 days, with a year-on-year increase of 7.1 days.

In October, the total profits of industrial enterprises above designated size reached 642.91 billion yuan, a year-on-year increase of 28.2 percent, 18.1 percentage points faster than that in September.