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According to the National Bureau of Statistics, from January to June, the total profits of industrial enterprises above designated size nationwide reached 3,511.03 billion yuan, a year-on-year increase of 3.5%.

From January to June, among industrial enterprises above designated size, state-controlled enterprises realized a total profit of 1,208.39 billion yuan, a year-on-year increase of 0.3%; joint-stock enterprises realized a total profit of 2,624.33 billion yuan, an increase of 1.5%; foreign-invested enterprises and Hong Kong, Macao and Taiwan-invested enterprises realized a total profit of 861.49 billion yuan, an increase of 11.0%; private enterprises realized a total profit of 919.36 billion yuan, an increase of 6.8%.

From January to June, the mining industry realized a total profit of 615.63 billion yuan, a year-on-year decrease of 10.8%; the manufacturing industry realized a total profit of 2498.51 billion yuan, an increase of 5.0%; the electricity, heat, gas and water production and supply industry realized a total profit of 396.88 billion yuan, an increase of 23.1%.

From January to June, the profit situation of major industries is as follows: profits of non-ferrous metal smelting and rolling processing industry increased by 78.2% year-on-year, electricity, heat production and supply industry increased by 27.2%, computer, communications and other electronic equipment manufacturing industry increased by 24.0%, textile industry increased by 19.3%, agricultural and sideline food processing industry increased by 19.2%, automobile manufacturing industry increased by 10.7%, oil and natural gas extraction industry increased by 7.5%, general equipment manufacturing industry increased by 3.6%, chemical raw materials and chemical products manufacturing industry increased by 2.3%, special equipment manufacturing industry decreased by 4.2%, electrical machinery and equipment manufacturing industry decreased by 8.0%, coal mining and washing industry decreased by 24.8%, non-metallic mineral products industry decreased by 49.9%, petroleum, coal and other fuel processing industry, ferrous metal smelting and rolling processing industry turned from profit to loss year-on-year.

From January to June, industrial enterprises above designated size realized operating revenue of 64.86 trillion yuan, a year-on-year increase of 2.9%; operating costs amounted to 55.31 trillion yuan, an increase of 2.9%; the operating profit margin was 5.41%, an increase of 0.03 percentage points year-on-year.

At the end of June, the total assets of industrial enterprises above designated size were 172.05 trillion yuan, a year-on-year increase of 5.7%; the total liabilities were 99.07 trillion yuan, an increase of 5.4%; the total owners' equity was 72.97 trillion yuan, an increase of 6.0%;Assets and liabilitiesIt was 57.6%, down 0.1 percentage point year-on-year.

At the end of June, accounts receivable of industrial enterprises above designated size were 24.75 trillion yuan, up 8.6% year-on-year; finished goods inventory was 6.37 trillion yuan, up 4.7%.

From January to June, the cost of industrial enterprises above designated size was 85.27 yuan per 100 yuan of operating income, an increase of 0.02 yuan year-on-year; the expenses were 8.43 yuan per 100 yuan of operating income, an increase of 0.05 yuan year-on-year.

At the end of June, the operating income of industrial enterprises above designated size was 76.3 yuan per 100 yuan of assets, a decrease of 2.4 yuan year-on-year; the per capita operating income was 1.788 million yuan, an increase of 75,000 yuan year-on-year; the inventory turnover days of finished products was 20.3 days, an increase of 0.2 days year-on-year; the average accounts receivable was 2.3 days, an increase of 0.6 days year-on-year; the averagePayback periodIt was 66.2 days, an increase of 3.5 days year-on-year.

In June, profits of industrial enterprises above designated size increased by 3.6% year-on-year.

Profits of industrial enterprises above designated size grew steadily in the first half of the year

The growth rate accelerated in June

——Yu Weining, statistician of the Industrial Department of the National Bureau of Statistics, interprets the profit data of industrial enterprises

In the first half of the year, with the implementation of various macro policies, industrial production grew steadily and rapidly, corporate profits continued to recover steadily, and the performance of industrial enterprises showed the following main characteristics:

The growth rate of industrial enterprise profits has accelerated. In the first half of the year, the profits of industrial enterprises above designated size nationwide increased by 3.5% year-on-year, 0.1 percentage point faster than in January-May. Among them, the profits of industrial enterprises above designated size increased by 3.6% in June, 2.9 percentage points faster than in May. In terms of industries, among the 41 major industrial sectors, 32 industries had year-on-year profit growth in the first half of the year, accounting for 78.0%, the same as in January-May.

Industrial enterprises' revenue has recovered steadily. The steady and rapid growth of industrial production, coupled with the significantly narrowed decline in ex-factory prices of industrial products since the second quarter, have jointly promoted the stable recovery of corporate revenue. In the first half of the year, the operating income of industrial enterprises above designated size increased by 2.9% year-on-year, the same as in January-May. The stable recovery of corporate revenue has created favorable conditions for continued profit growth.

The equipment manufacturing industry strongly supports the growth of industrial profits. With the acceleration of the high-end, intelligent and green pace of manufacturing, the vitality of the equipment manufacturing industry has continued to increase, which strongly supports the growth of industrial profits above the designated size. In the first half of the year, the profits of the equipment manufacturing industry increased by 6.6% year-on-year, driving the growth of industrial profits above the designated size by 2.2 percentage points, and the contribution rate to the growth of industrial profits above the designated size exceeded 60%. The profit of the equipment manufacturing industry accounted for 35.0% of the industrial profits above the designated size, an increase of 1.0 percentage point year-on-year. The proportion has continued to rise since the beginning of this year, and the industry structure of industrial profits above the designated size has continued to improve. In terms of industries, the production and sales of high-tech products such as smart phones, integrated circuits, and new energy vehicles have grown rapidly, driving the profits of the electronics and automobile industries to increase by 24.0% and 10.7% respectively; the competitiveness of the shipbuilding industry has increased and orders have grown rapidly, driving the profit of the railway, ship, aerospace and transportation equipment industry to increase by 36.0%.

Profits in the consumer goods manufacturing industry continued to grow rapidly. Domestic consumer demand has recovered, and factors such as accelerated growth in industrial product exports and a low base in the same period last year have jointly promoted the rapid growth of profits in the consumer goods manufacturing industry. In the first half of the year, profits in the consumer goods manufacturing industry increased by 10.0% year-on-year, continuing the double-digit growth trend since the beginning of the year, and the growth rate was 6.5 percentage points higher than that of the above-scale industry. In terms of industries, among the 13 major consumer goods manufacturing industries, profits of 12 industries increased year-on-year, of which 8 industries grew by more than 10%. Profits in the chemical fiber and papermaking industries increased by 1.28 times and 1.05 times respectively, and profits in the cultural, educational, arts and crafts, textile, agricultural and sideline food, printing, wine, beverage, tea, and food manufacturing industries increased by 10.1%-20.1%.

The profit decline in the mining industry and raw material manufacturing industry narrowed significantly. In the first half of the year, the benefits of upstream industries continued to recover, and the year-on-year decline in profits in the mining industry and raw material manufacturing industry narrowed by 5.4 and 6.6 percentage points respectively compared with January-May. In terms of different industries, with the "peak summer" and increased coal demand in downstream industries, the profit decline in the coal industry narrowed by 7.0 percentage points compared with January-May; driven by factors such as the narrowing decline in the area of ​​new construction in real estate and the effects of large-scale equipment renewal policies, steel demand rebounded, and the profit of the steel industry achieved rapid growth in the second quarter, reversing the net loss of the steel industry in the first quarter; driven by factors such as the continued rise in product prices, the non-ferrous smelting industry saw a profit growth of 78.2% in the first half of the year, maintaining a high growth trend.

The unit cost of enterprises continued to decrease year-on-year in the current month. In June, the cost of industrial enterprises above designated size for every 100 yuan of operating income was 84.80 yuan, a year-on-year decrease of 0.17 yuan, and a year-on-year decrease for two consecutive months. From a cumulative perspective, the cost of industrial enterprises above designated size for every 100 yuan of operating income in the first half of the year was 85.27 yuan, a decrease of 0.10 yuan from January to May. This year, the cumulative unit cost of enterprises has decreased for the first time compared with the previous period.

Overall, the performance of industrial enterprises above designated size recovered steadily in the first half of the year. At the same time, we should also see that insufficient domestic effective demand has constrained the continuous improvement of corporate performance, and the severe and complex international environment has increased the operating pressure of enterprises. The foundation for the recovery of industrial enterprises' performance still needs to be consolidated. In the next stage, we must resolutely implement the spirit of the Third Plenary Session of the 20th CPC Central Committee, actively expand domestic demand, smooth the circulation of the national economy, develop new quality productivity according to local conditions, create new momentum and new advantages for development, and continuously promote the high-quality development of the industrial economy.

Editor: Li Yilinzi