National Industrial Profits Increase by 3.6%, But Oil and Coal Industries Suffer Huge Losses, Non-Metallic Mineral Products Industry Plummets by 48.8%!

The cumulative profits of industrial enterprises above designated size in China reached 4,099.17 billion yuan in the January-July period, up 3.6 percent from the same period last year, according to data released by the National Bureau of Statistics on Monday. Among the industries, the growth rate of the oil and gas mining industry was 5.3%, the growth rate of chemical raw materials and chemical products manufacturing was 4.8%, while the oil, coal and other fuel processing industry turned from profit to loss.

Specifically, in July alone, the profits of industrial enterprises above designated size increased by 4.1% year on year, the growth rate increased by 0.5 percentage points from June, which is the second consecutive month of accelerated growth.

Statistics show that from January to July, the total profit of state-owned holding enterprises reached 1,391.73 billion yuan, an increase of 1.0% year-on-year; The total profits of joint-stock enterprises totaled 3,051.46 billion yuan, with a growth rate of 1.9%; The cumulative profits of foreign investors and enterprises invested in Hong Kong, Macao and Taiwan reached 1,018.49 billion yuan, with a growth rate of 9.9%; The total profit of private enterprises reached 1,103.10 billion yuan, with a growth rate of 7.3%.

In the statistical period from January to July, the mining industry achieved a total profit of 717.92 billion yuan, down 9.5% year-on-year; The total profit of the manufacturing industry was 2,904.54 billion yuan, with a growth rate of 5.0%; The total profit of the production and supply of electricity, heat, gas and water reached 476.71 billion yuan, with a growth rate of 20.1%.

The profit growth of the major industries from January to July is as follows: The profits of the non-ferrous metal smelting and rolling industry increased by 79.3 percent year on year; that of the computer, communications and other electronic equipment manufacturing industry by 25.1 percent; that of the agricultural and sideline food processing industry by 23.9 percent; that of the electricity and heat production and supply industry by 23.2 percent; that of the textile industry by 18.4 percent; and that of the automobile manufacturing industry by 6.7 percent. The oil and natural gas mining industry grew by 5.3 percent, the manufacturing of chemical raw materials and chemical products by 4.8 percent, the general equipment manufacturing by 4.3 percent, the special equipment manufacturing by 2.9 percent, the electrical machinery and equipment manufacturing by 8.1 percent, the coal mining and washing industry by 21.7 percent, and the non-metallic mineral products industry by 48.8 percent. The petroleum, coal and other fuel processing industry, ferrous metal smelting and rolling processing industry turned from profit to loss.

From January to July, the cumulative operating income of industrial enterprises above designated size reached 75.93 trillion yuan, up 2.9 percent year on year. Operating costs were 64.79 trillion yuan, up 3.0%; The operating income margin was 5.40%, an increase of 0.04 percentage points over the same period last year.

By the end of July, the assets of industrial enterprises above designated size totaled 172.76 trillion yuan, up 5.3% year on year; Total debt was 99.51 trillion yuan, an increase of 5.1%; The total owners' equity was 73.25 trillion yuan, up by 5.7%; The asset-liability ratio was 57.6%, down 0.1 percentage points year-on-year.

By the end of July, the accounts receivable of industrial enterprises above designated size reached 25.10 trillion yuan, an increase of 8.1 percent year on year; Finished goods inventories were 6.47 trillion yuan, up 5.2%.

From January to July, the cost per 100 yuan of operating income of industrial enterprises above designated size was 85.33 yuan, an increase of 0.09 yuan year-on-year; Expenses per 100 yuan of revenue were 8.41 yuan, the same as last year.

By the end of July, the operating income of industrial enterprises above designated size was 76.4 yuan per 100 yuan of assets, a decrease of 2.3 yuan year-on-year; The per capita operating income was 1.794 million yuan, an increase of 78,000 yuan; The turnover days of finished goods inventory were 20.4 days, an increase of 0.2 days. The average collection period of accounts receivable was 66.5 days, an increase of 3.4 days.