Financial Services Association, December 27. According to data released by the National Bureau of Statistics on the 27th, from January to November, industrial enterprises above the national scale achieved a total profit of 6982.28 billion yuan, a year-on-year decrease of 4.4%, and the decline was 3.4 percentage points narrower than in January-October. From January to November, among industrial enterprises above scale, state-owned enterprises achieved total profit of 2241.14 billion yuan, a year-on-year decrease of 6.2%; joint-stock enterprises achieved total profit of 5159.37 billion yuan, a decrease of 3.1%; foreign, Hong Kong, Macao and Taiwan-invested enterprises achieved total profit of 1621.78 billion yuan, a decrease of 8.7%; and private enterprises achieved total profit of 2002.31 billion yuan, an increase of 1.6%. In November, large-scale industrial enterprises achieved a 29.5% year-on-year increase in profit.

Profits of industrial enterprises above the national scale fell 4.4% from January to November 2023

From January to November, industrial enterprises above the national scale achieved a total profit of 6982.28 billion yuan, a year-on-year decrease of 4.4%, and the decline was 3.4 percentage points narrower than in January-October (based on a comparable scale, see Note 2 for details).

From January to November, among industrial enterprises above scale, state-owned enterprises achieved total profit of 2241.14 billion yuan, a year-on-year decrease of 6.2%; joint-stock enterprises achieved total profit of 5159.37 billion yuan, a decrease of 3.1%; foreign, Hong Kong, Macao and Taiwan-invested enterprises achieved total profit of 1621.78 billion yuan, a decrease of 8.7%; and private enterprises achieved total profit of 2002.31 billion yuan, an increase of 1.6%.

From January to November, the mining industry achieved a total profit of 1227.72 billion yuan, a year-on-year decrease of 18.3%; the manufacturing industry achieved a total profit of 5098.71 billion yuan, a decrease of 4.7%; and the electricity, heat, gas and water production and supply industry achieved a total profit of 655.85 billion yuan, an increase of 47.3%.

From January to November, the profit situation of major industries was as follows: the total profit of the ferrous metal smelting and rolling processing industry increased 275.6% year on year, the electricity, heat production and supply industry increased 58.2%, the non-ferrous metal smelting and rolling processing industry increased 21.8%, the electrical machinery and equipment manufacturing industry grew 17.2%, the automobile manufacturing industry grew 2.9%, the special equipment manufacturing industry fell 1.0%, the textile industry fell 1.8%, the oil and gas extraction industry fell 8.5%, and the computer, communications and other electronic equipment manufacturing industry fell 11.2 percent %. The agricultural and sideline food processing industry declined by 11.8%, the petroleum, coal and other fuel processing industry by 14.1%, the non-metallic mineral products industry by 25.6%, the coal mining and washing industry by 25.9%, and the chemical raw materials and chemical products manufacturing industry by 38.5%.

From January to November, large-scale industrial enterprises achieved operating income of 120.04 trillion yuan, an increase of 1.0% year on year; operating costs of 101.93 trillion yuan, an increase of 1.1%; and the profit margin on operating income was 5.82%, down 0.32 percentage points year on year.

At the end of November, the total assets of large-scale industrial enterprises were 167.78 trillion yuan, up 6.3% year on year; total liabilities were 96.59 trillion yuan, up 6.4%; total owners' equity was 71.20 trillion yuan, up 6.1%; and the balance ratio was 57.6%, up 0.1 percentage points year on year.

At the end of November, accounts receivable from large-scale industrial enterprises were 24.59 trillion yuan, an increase of 8.1% over the previous year; inventory of finished products was 6.29 trillion yuan, an increase of 1.7%.

From January to November, the cost per 100 yuan of operating income for large-scale industrial enterprises was 84.92 yuan, an increase of 0.16 yuan over the previous year; the cost per 100 yuan revenue was 8.35 yuan, an increase of 0.25 yuan over the previous year.

At the end of November, the operating income achieved by large-scale industrial enterprises per 100 yuan of assets was 80.8 yuan, a year-on-year decrease of 5.0 yuan; per capita operating income was 1.794 million yuan, an increase of 62,000 yuan; the number of inventory turnover days for finished products was 19.9 days, an increase of 0.9 days; and the average payback period for accounts receivable was 63.0 days, an increase of 4.9 days over the previous year.

In November, large-scale industrial enterprises achieved a 29.5% year-on-year increase in profit.