From January to April, the total profits of industrial enterprises above designated size reached 2,127.17 billion yuan, a year-on-year increase of 15%, and the growth rate was 3.4 percentage points higher than that in the first three months.

From January to April, of the industrial enterprises above designated size, the total profit of the state-controlled enterprises was 627.03 billion yuan, up by 26.2% year-on-year; the total profits of the collective enterprises were 7.53 billion yuan, up 9.6%; the total profits of the joint-stock enterprises were 1,491.9 billion yuan, up by 19.1 %; Foreign-invested enterprises and Hong Kong, Malay and Taiwanese investment companies realized a total profit of 520.57 billion yuan, an increase of 4.4%; private companies realized a total profit of 590.29 billion yuan, an increase of 11.5%.

From January to April, the total profit of the mining industry was 184.84 billion yuan, a year-on-year increase of 39%; the total profit of the manufacturing sector was 179.67 billion yuan, an increase of 12%; the electricity, heat, gas, and water production and supply industries realized a total profit of 145.96 billion yuan. 28.7% increase.

From January to April, in 41 industries, the total profit of 29 industries increased year-on-year, with 1 industry remaining flat and 11 industries decreasing. The profit of major industries was as follows: the total profit of coal mining and washing industry increased by 15.5% year-on-year, oil and natural gas extraction industry increased 2.1 times, agricultural and non-staple food processing industry increased by 2.1%, textile industry increased by 1%, and petroleum, coal and other fuels were added. Industrial growth was 19.6%, manufacturing of chemical raw materials and chemicals increased by 23%, non-metallic mineral products industry increased by 45.2%, ferrous metal smelting and rolling processing industry increased by 95.4%, general equipment manufacturing increased by 9.8%, and special equipment manufacturing increased by 23.9 %, electrical machinery and equipment manufacturing increased by 2.7%, electricity and heat production and supply increased by 30.3%, non-ferrous metal smelting and rolling processing decreased by 15.8%, automotive manufacturing decreased by 0.6%, and computer, communication and other electronic equipment manufacturing Declined by 5.3%.

From January to April, the main business income of industrial enterprises above designated size was 34.1 trillion yuan, up 10.5% year-on-year; the main business cost was 28.8 trillion yuan, up 10.2%; the main business income margin was 6.24%, up year-on-year 0.24 percentage points.

At the end of April, assets of industrial enterprises above designated size totaled 107.9 trillion yuan, up 7.3% year-on-year; liabilities totaled 61 trillion yuan, an increase of 6.1%; owners’ equity totaled 46.9 trillion yuan, up 8.8%; and the debt to assets ratio was 56.5%. A year-on-year decrease of 0.7 percentage points.

At the end of April, the accounts receivable of industrial enterprises above designated size reached 13.3 trillion yuan, an increase of 10.8 percent year-on-year; inventory of finished goods was 401.89 billion yuan, an increase of 5.5%.

From January to April, the cost of main business income per 100 yuan of industrial enterprises above designated size was 84.52 yuan, a year-on-year decrease of 0.21 yuan; the cost per 100 yuan of main business income was 8.13 yuan, a year-on-year decrease of 0.04 yuan; The main business income realized by assets was 95.7 yuan, an increase of 2.7 yuan year-on-year; the per capita main business income was 1,251,000 yuan, an increase of 140,000 yuan over the previous year; the finished goods inventory turnover days were 16.4 days, a year-on-year decrease of 0.5 days; accounts receivable The average payback period is 45.5 days, a decrease of 0.1 days from the same period last year.

In April, the total profit of industrial enterprises above designated size was 576.03 billion yuan, a year-on-year increase of 21.9%, and the growth rate was 18.8 percentage points higher than that in March.

In this regard, Dr. He Ping, Department of Industry, National Bureau of Statistics, reads the profit data of industrial companies from January to April in 2018.

According to the financial data of industrial enterprises issued by the National Bureau of Statistics on May 27, from January to April 2018, the profits of industrial enterprises above designated size increased by 15% year-on-year, accelerating by 3.4 percentage points over the first three months; 21.9%, 18.8% faster than in March.

I. Accelerated production, price recovery, low base, and other factors, significantly accelerated profit growth

In April, the growth rate of industrial profits showed a clear rebound in the lower level in March, mainly due to the following reasons:

First, the growth in production and sales has accelerated. In April, the value added of industrial enterprises above designated size increased by 7% year-on-year, and the growth rate increased by 1 percentage point from March; the main business income of enterprises increased by 10.4%, and the growth rate accelerated by 3 points compared with March.

The second is the rebound in PPI. In April, the ex-factory price of industrial producers rose by 3.4% year-on-year, a rise of 0.3% from March, which was a rebound after five consecutive months of slower price increases; while the purchase price of industrial producers rose by 3.7% year-on-year, or It is the same as in March. One liter and one level increased the profitability of the company. According to preliminary estimates, due to price changes, profits increased by approximately 84.97 billion yuan year-on-year, and the driving force for profit growth was 7.1 percentage points higher than that in March.

The third is that the steel, chemical, and automobile industries have obvious pulling effects. In April, ferrous metal smelting and rolling processing industry profits increased by 2.6 times year-on-year, and increased by 20.8% in March; chemical raw materials and chemical products manufacturing, due to the rebound in product prices, lower profit base last year, faster production, and lower costs. Profit increased by 46.2% year-on-year, and the growth rate was 41.5 percentage points higher than that in March; auto manufacturing profit increased by 12.5% year-on-year, and in March it was down 9.6% year-on-year. In addition, the profit growth of the oil and gas exploration industry, non-metallic mineral products industry, etc. has also been significantly accelerated. The aforesaid five industries collectively promoted the growth of the profits of all industrial enterprises above designated size to accelerate by 13.2 percentage points.

Fourth, the growth of financial expenses has slowed down significantly. In April, due to the weakening of previous exchange losses and other factors, the financial costs of industrial enterprises above designated size grew by only 1.8% year-on-year, a 13.3 percentage point slower growth rate than in March.

Fifth, the profit base at the same period is relatively low. In April of last year, due to various factors such as the fall in price increase, slowdown in production and sales growth, and rising costs, profits increased by 14% year-on-year, and the growth rate fell by 9.8 points from last March, which was the second lowest growth rate in each month last year. point.

Second, the effectiveness of structural reform on the supply side continues to show, and the quality and efficiency of the economic operation of industrial entities continue to increase.

The first is the cost reduction. From January to April, the cost of main business income per 100 yuan for industrial enterprises above designated size was 92.65 yuan, a year-on-year decrease of 0.25 yuan; of which, the cost per 100 yuan of main business income was 84.52 yuan, a year-on-year decrease of 0.21 yuan.

The second is lower leverage. At the end of April, the asset-liability ratio of industrial enterprises above designated size was 56.5%, a year-on-year decrease of 0.7 percentage points. Among them, the asset-liability ratio of the state-controlled enterprises was 59.5%, a year-on-year decrease of 1.5 percentage points, and the state-owned enterprises' deleveraging effect was even more significant.

The third is the improvement of capital efficiency. At the end of April, the turnover days of finished goods inventory of industrial enterprises above designated size were 16.4 days, a year-on-year decrease of 0.5 days; the average payback period of accounts receivable was 45.5 days, a year-on-year decrease of 0.1 days.

The fourth is to enhance profitability. From January to April, the profit rate of main business income of industrial enterprises above designated size was 6.24%, an increase of 0.24 percentage points year-on-year.