National Bureau of Statistics: From January to March 2024, the profits of industrial enterprises above designated size across the country increased by 4.3%

Profits of industrial enterprises above designated size increased by 4.3% in the first three months of 2024, according to data released on the website of the National Bureau of Statistics on Wednesday.

From January to March, the total profit of state-owned holding enterprises in industrial enterprises above designated size was 573.82 billion yuan, down 2.6 percent year on year; The total profits of joint-stock enterprises reached 1,120.30 billion yuan, an increase of 0.8%; The total profit of enterprises invested by foreign investors and those from Hong Kong, Macao and Taiwan reached 373.75 billion yuan, up by 18.1%; The total profit of private enterprises reached 367.97 billion yuan, an increase of 5.8%.

From January to March, the total profit of the mining industry reached 296.17 billion yuan, down 18.5% year on year; The total profit of the manufacturing industry was 1,017.24 billion yuan, up by 7.9%; The production and supply of electricity, heat, gas and water achieved a total profit of 192.12 billion yuan, an increase of 40.0%.

From January to March, the profits of major industries are as follows: The profits of the computer, communications and other electronic equipment manufacturing industry increased by 82.5 percent; the non-ferrous metal smelting and rolling processing industry increased by 57.2 percent; the electricity and heat production and supply industry increased by 47.5 percent; the automobile manufacturing industry increased by 32.0 percent; the textile industry increased by 25.0 percent; the general equipment manufacturing industry increased by 7.9 percent; and the oil and gas extraction industry increased by 3.8 percent. The manufacturing of electrical machinery and equipment fell by 6.9%. The manufacturing of special equipment fell by 7.2%. The coal mining and washing industry fell by 33.5%. The non-metallic mineral products industry fell by 54.2%. Ferrous metal smelting and rolling industry losses increased.

In the first three months of this year, the operating income of industrial enterprises above designated size reached 30.96 trillion yuan, an increase of 2.3 percent year-on-year. Incurred operating costs were 26.38 trillion yuan, up 2.5%; Operating income margin was 4.86%, an increase of 0.09 percentage points.

By the end of March, the assets of industrial enterprises above designated size totaled 169.14 trillion yuan, an increase of 6.1% year on year; Total debt was 96.85 trillion yuan, an increase of 5.7%; The total owners' equity was 72.29 trillion yuan, up 6.6%; The asset-liability ratio was 57.3%, down 0.2 percentage points year-on-year.

By the end of March, the accounts receivable of industrial enterprises above designated size were 23.33 trillion yuan, up 8.2% year on year; Finished goods inventories were 6.26 trillion yuan, up 2.5%.

From January to March, the cost per 100 yuan of operating income of industrial enterprises above designated size was 85.18 yuan, an increase of 0.16 yuan year-on-year; The expense per 100 yuan of revenue was 8.54 yuan, a decrease of 0.07 yuan year-on-year.

At the end of March, the operating income of industrial enterprises above designated size was 73.5 yuan per 100 yuan of assets, a decrease of 2.9 yuan year-on-year; The per capita operating income was 1.725 million yuan, an increase of 75,000 yuan year-on-year; The turnover days of finished goods inventory were 21.1 days, unchanged year-on-year; The average collection period of accounts receivable was 67.3 days, an increase of 3.8 days year-on-year.

In March, profits of industrial enterprises above designated size fell 3.5 per cent year on year.