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Profits of industrial enterprises above designated size nationwide fell by 9.0% from January to September 2023

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November 3, 2023, 4:20 PM

From January to September, the total profits of large-scale industrial enterprises nationwide totaled 5.41199 trillion yuan, down 9.0 percent from the same period last year, or 2.7 percentage points lower than in January-August.

From January to September, among industrial enterprises above scale, the total profits of state-controlled enterprises totaled 1.8477 trillion yuan, down 11.5 percent from the same period last year; the total profits of joint-stock enterprises totaled 3.96237 trillion yuan, down 8.7 percent; and the total profits of foreign investors and Hong Kong, Macao and Taiwan investment enterprises totaled 1.28781 trillion yuan, down 10.5 percent. The total profits of private enterprises were 1.4385 trillion yuan, down 3.2 percent.

From January to September, the total profits of the mining industry totaled 992.81 billion yuan, down 19.9 percent from the same period last year; the total profits of the manufacturing industry totaled 3.89107 trillion yuan, down 10.1 percent; and the total profits of the electricity, heat, gas and water production and supply industries totaled 528.11 billion yuan, up 38.7 percent.

From January to September, the profits of the main industries are as follows: total profits in power, thermal production and supply increased by 50.0% over the same period last year, electrical machinery and equipment manufacturing increased by 24.9%, general equipment manufacturing grew by 11.0%, special equipment manufacturing grew by 2.4%, automobile manufacturing grew by 0.1%, and ferrous metal smelting and Calendering industries decreased by 1.8%. The oil and natural gas mining industry fell by 9.4%, the textile industry by 10.2%, the agricultural food processing industry by 15.1%, the non-ferrous metal smelting and Calendering industry by 15.1%, the computer, communications and other electronic equipment manufacturing industry by 18.6%, the coal mining and washing industry by 26.5%, the non-metallic mineral products industry by 26.7%, and the oil, coal and other fuel processing industries by 40.4%. The manufacturing industry of chemical raw materials and chemical products fell by 46.5%.

From January to September, the operating income of industrial enterprises above scale reached 96.35 trillion yuan, unchanged from the same period last year; the operating cost was 81.96 trillion yuan, an increase of 0.3%; and the profit margin of operating income was 5.62%, down 0.55% from the same period last year.

At the end of September, the assets of industrial enterprises above scale totaled 164.4 trillion yuan, up 6.4 percent over the same period last year; liabilities totaled 94.63 trillion yuan, up 6.7 percent; owners' equity totaled 69.77 trillion yuan, up 6.0 percent; and the asset-liability ratio was 57.6 percent, up 0.2 percent over the same period last year.

At the end of September, accounts receivable of industrial enterprises above scale totaled 23.75 trillion yuan, up 9.7 percent over the same period last year, and inventory of finished goods totaled 6.13 trillion yuan, up 3.1 percent.

From January to September, the cost of industrial enterprises above scale was 85.07 yuan per 100 yuan of operating income, an increase of 0.30 yuan over the same period last year, and the cost of every 100 yuan of operating income was 8.34 yuan, an increase of 0.28 yuan over the same period last year.

At the end of September, the operating income of industrial enterprises above scale reached 80.1yuan per 100 yuan of assets, down 5.8yuan from the same period last year; the per capita operating income was 1.774 million yuan, an increase of 60000 yuan over the same period last year; the turnover of inventory of finished goods was 20.0days, an increase of 1.2days over the same period last year; the average payback period of accounts receivable was 63.0days, an increase of 5.9days over the same period last year.

In September, profits of over-sized industrial enterprises increased by 11.9% compared with the same period last year.