Profits of industrial enterprises maintained good growth momentum in the third quarter
—— Zhu Hong, a senior statistician from the Department of Industry of the National Bureau of Statistics, interprets the profit data of industrial enterprises
2021In the third quarter of the year, industrial production continued to recover, profits maintained a good growth momentum, corporate profitability continued to improve, and profitability, asset-liability ratio and capital turnover continued to improve year-on-year.
1. Profits of industrial enterprises maintain rapid growth
1—9In June, the profits of industrial enterprises above designated size increased year-on-year44.7%, Two-year average growth18.8%(by2019The year-on-year number is the base, calculated by the geometric average method).In the third quarter, industrial profits increased year-on-year14.3%, Continue to maintain double-digit growth; two-year average growth15.1%, The growth rate dropped slightly from the second quarter, maintaining a good growth overall. in,9Month-on-year profit growth16.3%, The growth rate is faster than last month6.2Percentage points.
More than 70% of the industry’s profitability exceeded the level before the epidemic.In the third quarter,41Among the major industrial sectors, there are29Industry profits2019Year-on-year growth, accounting for70.7%, The overall performance of most industries is better than before the epidemic.Including18The two-year average growth rate of profit of each industry has reached or exceeded10%。
The profit of high-tech manufacturing industry has grown rapidly.In the third quarter, high-tech manufacturing profits increased year-on-year33.6%, The growth rate is higher than the average level of industries above designated size19.3Percentage points, leading role is significant.Among them, the pharmaceutical manufacturing industry was driven by factors such as the large domestic and foreign vaccine demand and the booming production and sales of enterprises. The profit in the third quarter increased year-on-year.66.8%, Continuing the trend of rapid growth since the beginning of the year; the electronics and communication equipment manufacturing industry is driven by factors such as steady growth in corporate income and a shift in investment income, and profits have increased year-on-year33.4%, The growth rate is faster than in the second quarter14.6Percentage points; profit of aerospace vehicle and equipment manufacturing industry increased year-on-year25.4%, To maintain rapid growth.
The profitability of the mining industry and the raw material manufacturing industry has expanded significantly.In the third quarter, the profit of the mining industry increased year-on-year2.04Times, the raw material manufacturing industry grows42.5%, Continue to maintain a rapid growth trend, and provide important support for the improvement of industrial enterprise profitability.Among them, driven by factors such as the continuous rise in product prices, in the third quarter, the profit of the coal industry increased year-on-year2.72The growth rate has accelerated significantly compared with the second quarter; the profits of oil and gas exploration, non-ferrous metals, petroleum processing, chemical, and steel industries have increased respectively2.97Times,77.6%、70.8%、69.3%、42.6%, Have achieved rapid growth.
The profit of the consumer goods manufacturing industry recovered steadily.In the third quarter, as market demand continued to recover, the profit of the consumer goods manufacturing industry increased year-on-year9.7%, Two-year average growth12.0%, Showing a stable recovery trend.Among them, the profit of the chemical fiber industry increased year-on-year2.15Times, showing rapid growth; furniture manufacturing, culture, education, industry and beauty industry profits increased respectively10.6%、8.3%, The growth is relatively stable.
2. The company’s operating conditions have improved significantly
Unit expenses have fallen and profitability has increased.In the third quarter, as policy measures such as tax cuts and fee reductions and support for the development of the real economy continued to be effective, the cost per hundred yuan of operating income for industrial enterprises above designated size decreased year-on-year0.39Yuan, a significant decline.The profit margin of corporate operating income6.70%, Increased year-on-year0.13Percentage points. The improvement in profitability drives the company’s debt-to-asset ratio to continue to fall.9At the end of the month, the company’s asset-liability ratio56.3%, A year-on-year decrease0.5Percentage points, lower than the end of last month0.1Percentage points.
Accelerated capital turnover and improved operational efficiency.9At the end of the month, the accounts receivable and the inventory of finished products of industrial enterprises above designated size increased respectively year-on-year11.5%、13.7%, The growth rate dropped from the end of last month respectively0.6、0.5Percentage points, the occupation of working capital has improved.The average payback period of corporate accounts receivable has been shortened year-on-year3.8Days, shorter than the end of last month0.4sky.Finished goods inventory turnover days shortened year-on-year1.5Days, shorter than the end of last month0.3sky. The efficiency of the use of corporate funds has been improved, and the operating conditions have been further improved.
In the third quarter, the profits of industrial enterprises above designated size maintained a good growth trend, but factors such as high commodity prices and insufficient supply chain industry chain affected the continuous recovery of corporate profits. At the same time, the problem of profit imbalance between upstream and downstream industries was more prominent, and the benefits of industrial enterprises recovered. The foundation still needs to be further consolidated. In the next step, in accordance with the decisions and deployments of the Party Central Committee and the State Council, we must do a good job in normalizing the epidemic prevention and control, maintain the continuity and stability of macroeconomic policies, do a good job in economic inter-cycle adjustment, stabilize the prices of bulk commodities, continue to expand domestic demand, promote transformation and upgrading, and stimulate the market The vitality of the main body ensures that the industrial economy operates within a reasonable range.