Industrial Profits Down 4.7% This Year, Oil Industry Loses 182.1%!

According to data released by the National Bureau of Statistics on December 27, from January to November this year, the total profit of industrial enterprises above designated size nationwide reached 66,674.8 billion yuan, a 4.7% decrease compared to the same period last year. Specifically, the total profit of the oil and natural gas extraction industry was 3,398.3 billion yuan, down 4.4% year-on-year; the total profit of the chemical raw materials and chemical products manufacturing industry was 3,804.7 billion yuan, down 9.3% year-on-year; the total profit of the oil, coal, and other fuel processing industry was a negative 419.9 billion yuan, down an astonishing 182.1% year-on-year; while the total profit of the chemical fiber manufacturing industry was 265.8 billion yuan, up 33.6% year-on-year.

In terms of different ownership enterprises, the data from January to November shows that state-controlled enterprises achieved a total profit of 20,387.7 billion yuan, down 8.4% year-on-year; shareholding enterprises achieved a total profit of 50,143.0 billion yuan, down 5.7%; foreign-invested and Hong Kong, Macau, and Taiwan investment enterprises achieved a total profit of 16,062.9 billion yuan, down 0.8%; private enterprises achieved a total profit of 19,649.1 billion yuan, down 1.0%.
Classified by industry, the mining industry achieved a total profit of 10,796.2 billion yuan, down 13.2% year-on-year; the manufacturing industry achieved a total profit of 48,524.9 billion yuan, down 4.6%; the electricity, heat, gas, and water production and supply industry achieved a total profit of 7,353.7 billion yuan, an increase of 10.9%.

In terms of major industry profit conditions, the non-ferrous metal smelting and rolling processing industry saw a profit increase of 20.2%, the electricity and heat production and supply industry grew by 13.5%, the textile industry grew by 4.6%, the computer, communication, and other electronic equipment manufacturing industry grew by 2.9%, the agro-food processing industry grew by 0.5%, the general equipment manufacturing industry decreased by 0.1%, the special equipment manufacturing industry decreased by 0.9%, the electrical machinery and equipment manufacturing industry decreased by 3.1%, the oil and gas extraction industry decreased by 4.4%, the automobile manufacturing industry decreased by 7.3%, the chemical raw materials and chemical products manufacturing industry decreased by 9.3%, the coal mining and washing industry decreased by 22.4%, the non-metallic mineral products industry decreased by 48.2%, and the ferrous metal smelting and rolling processing industry decreased by 83.7%, with the oil, coal, and other fuel processing industry turning from profit to loss.

Additionally, from January to November, industrial enterprises above designated size achieved operating revenue of 123.48 trillion yuan, a year-on-year increase of 1.8%; operating costs were 105.38 trillion yuan, an increase of 2.3%; the operating revenue profit margin was 5.40%, a year-on-year decrease of 0.37 percentage points.

As of the end of November, the total assets of industrial enterprises above designated size were 178.87 trillion yuan, a year-on-year increase of 4.7%; total liabilities were 103.51 trillion yuan, an increase of 4.9%; total owners' equity was 75.36 trillion yuan, an increase of 4.6%; the asset-liability ratio was 57.9%, a year-on-year increase of 0.1 percentage points.
In terms of financial status, by the end of November, accounts receivable for industrial enterprises above designated size were 26.92 trillion yuan, a year-on-year increase of 8.5%; finished goods inventory was 6.57 trillion yuan, an increase of 3.3%.

In terms of costs and expenses, from January to November, the cost per 100 yuan of operating revenue for industrial enterprises above designated size was 85.34 yuan, a year-on-year increase of 0.37 yuan; expenses per 100 yuan of operating revenue were 8.40 yuan, a year-on-year increase of 0.02 yuan.

In terms of operational efficiency, by the end of November, the operating revenue per 100 yuan of assets for industrial enterprises above designated size was 77.7 yuan, a year-on-year decrease of 2.9 yuan; per capita operating revenue was 1.834 million yuan, a year-on-year increase of 64,000 yuan; the turnover days for finished goods inventory were 19.8 days, a year-on-year increase of 0.1 days; the average collection period for accounts receivable was 66.7 days, a year-on-year increase of 4.2 days.

Finally, in November, the profits of industrial enterprises above designated size decreased by 7.3% year-on-year.