Profits from China's chemical raw materials and products manufacturing industry increased by 0.3% in the first two months of 2024

Data released by the National Bureau of Statistics of China on March 27 showed that from January to February, industrial enterprises above designated size across China achieved a total profit of 914.06 billion yuan, a year-on-year increase of 10.2%. Among them, the oil and natural gas extraction industry achieved a total profit of 65.22 billion yuan, a year-on-year increase of 1.8%; the chemical raw materials and chemical products manufacturing industry achieved a total profit of 42.34 billion yuan, a year-on-year increase of 0.3%.

Data show that from January to February, among industrial enterprises above designated size, state-controlled enterprises achieved a total profit of 343.49 billion yuan, a year-on-year increase of 0.5%; joint-stock enterprises achieved a total profit of 689.85 billion yuan, an increase of 5.3%; foreign-invested and Hong Kong, Macao and Taiwan-invested enterprises realized a total profit of 216.92 billion yuan, an increase of 31.2%; private enterprises realized a total profit of 246.54 billion yuan, an increase of 12.7%.

In terms of categories, from January to February, the mining industry realized a total profit of 188.10 billion yuan, a year-on-year decrease of 21.1%; the manufacturing industry realized a total profit of 613.45 billion yuan, an increase of 17.4%; the electricity, heat, gas and water production and supply industry realized a total profit of 112.51 billion yuan, an increase of 63.1%.

More than 70% of industries saw profit growth, with the manufacturing and electrical and water industries growing rapidly. From January to February, among the 41 major industrial industries, 29 industries saw profits increase year-on-year, with a growth rate of 70.7%, an expansion of 4.8 percentage points over the previous year.

The profits of the main industries are as follows: the profits of the computer, communications and other electronic equipment manufacturing industries increased by 2.1 times, the electricity and heat production and supply industry increased by 69.4%, the non-ferrous metal smelting and rolling processing industry increased by 65.5%, the textile industry increased by 51.1%, the automobile manufacturing industry increased by 50.1%, the general equipment manufacturing industry increased by 20.7%, the oil and natural gas mining industry increased by 1.8%, the chemical raw materials and chemical products manufacturing industry increased by 0.3%, the coal mining and washing industry decreased by 36.8%, the non-metallic mineral products industry decreased by 32.1%, the special equipment manufacturing industry decreased by 17.0%, the agricultural and sideline food processing industry decreased by 7.3%, the electrical machinery and equipment manufacturing industry decreased by 2.0%, losses in the petroleum, coal and other fuel processing industries and ferrous metal smelting and rolling processing industries increased.

As market demand continues to recover, industrial production has grown rapidly, and the revenue growth of industrial enterprises has accelerated significantly. From January to February, industrial enterprises above designated size achieved operating income of 19.44 trillion yuan, a year-on-year increase of 4.5%; operating costs incurred were 16.52 trillion yuan, an increase of 4.6%; the operating income profit margin was 4.70%, a year-on-year increase of 0.24 percentage points.

At the end of February, the total assets of industrial enterprises above designated size were 167.83 trillion yuan, a year-on-year increase of 6.5%; the total liabilities were 95.75 trillion yuan, an increase of 6.2%; the total owners' equity was 72.08 trillion yuan, an increase of 6.9%; the asset-liability ratio was 57.1%, a year-on-year decrease of 0.1 percentage points.

At the end of February, the accounts receivable of industrial enterprises above designated size were 22.99 trillion yuan, a year-on-year increase of 8.6%; the inventory of finished products was 6.09 trillion yuan, an increase of 2.4%.

From January to February, the cost per 100 yuan of operating income of industrial enterprises above designated size was 84.97 yuan, a year-on-year increase of 0.11 yuan; the expense per 100 yuan of operating income was 8.62 yuan, a year-on-year decrease of 0.01 yuan.

At the end of February, the operating income of industrial enterprises above designated size per 100 yuan of assets was 69.5 yuan, a year-on-year decrease of 1.3 yuan; the per capita operating income was 1.639 million yuan, a year-on-year increase of 104,000 yuan; the inventory turnover days of finished products was 22.1 days, a year-on-year decrease of 0.5 days; the average recovery period of accounts receivable was 71.0 days, an increase of 2.7 days year-on-year.