Industrial Profits Decline by 4.3% This Year! October Sees a Year-on-Year Decrease of 10%

According to data from the National Bureau of Statistics, from January to October this year, the total profit of industrial enterprises above designated size nationwide reached 586.804 billion yuan, a decrease of 4.3%. Among these, profits in the oil and natural gas extraction industry fell by 1.8%, and the chemical raw materials and products manufacturing industry dropped by 7.7%. State-owned enterprises saw profits decline by 8.2%, while joint-stock enterprises fell by 5.7%. Foreign and Hong Kong, Macao, and Taiwan-invested enterprises grew by 0.9%, and private enterprises decreased by 1.3%. Mining industry profits dropped by 12.7%, manufacturing by 4.2%, while power and other industries grew by 11.5%.

Profits in the non-ferrous metal smelting and rolling processing industry increased by 40.0%, computer and electronic equipment manufacturing grew by 8.4%, textiles by 5.3%, and the agricultural and sideline food processing industry by 2.8%. In contrast, the general equipment manufacturing industry saw a decline of 0.1%, while chemical raw materials and products manufacturing fell by 7.7%, coal mining and washing down by 23.7%, and non-metallic mineral products down by 49.6%. The petroleum, coal, and other fuel processing industries, along with ferrous metal smelting and rolling processing industries, reported losses.

Industrial enterprises' operating income grew by 1.9%, while operating costs increased by 2.3%, resulting in an operating income profit margin of 5.29%, a decrease of 0.34 percentage points. By the end of October, total assets of industrial enterprises grew by 4.6%, liabilities by 4.5%, and owners' equity by 4.9%, with a debt-to-asset ratio of 57.7%, down 0.1 percentage points. Accounts receivable grew by 7.8%, and finished goods inventory increased by 3.9%.

The cost per 100 yuan of operating income was 85.39 yuan, an increase of 0.32 yuan; expenses were 8.42 yuan, an increase of 0.06 yuan. Every 100 yuan of assets generated an operating income of 77.3 yuan, a decrease of 2.7 yuan; per capita operating income was 1.824 million yuan, an increase of 66,000 yuan; finished goods inventory turnover days were 20.0 days, an increase of 0.2 days; average accounts receivable collection period was 66.7 days, an increase of 3.9 days. In October, industrial profits decreased by 10.0% year-on-year.