Every reporter: Li Keyu Every editor: Chen Xing
On July 27, the National Bureau of Statistics released the profit data of industrial enterprises in the first half of 2021.
From January to June this year, the total profits of industrial enterprises above designated size across the country realized a total profit of 4,218.33 billion yuan, a year-on-year increase of 66.9%, an increase of 45.5% over the first six months of 2019, and an average increase of 20.6% over the two years.
In June, industrial enterprises above designated size achieved a total profit of 7918.0 billion yuan, a year-on-year increase of 20.0%.
Senior statistician Zhu Hong of the Department of Industry of the National Bureau of Statistics pointed out that in the first half of 2021, as the national economy stabilized and strengthened, demand for industrial production resumed steadily, business operations continued to improve, and corporate profits grew steadily and rapidly.
Image source: National Bureau of Statistics
Profits of 40 industries have increased year-on-year or turned losses into profits
Zhu Hong pointed out that data shows that 70% of industries have more profits than they were before the epidemic. In the first half of the year, among 41 major industrial sectors, 40 industries saw profit growth (or turned losses into profits) year-on-year, and one industry remained flat year-on-year. Among them, 36 industries achieved double-digit and above profit growth, accounting for 87.8%; 7 industries had a growth rate of more than 100%. Compared with the same period in 2019, 29 industries achieved profit growth, accounting for 70.7%.
It is worth noting that the data also shows that the influencing factors caused by the rise in upstream bulk commodity prices in the previous period have been weakened.
Hongta Securities Research Institute Li Qilin analyzed the "Daily Economic News" reporter, in terms of major industries, the profit rate of the mining industry in June was 18%, the previous value was 20%, and the profit rate of the mining industry The decline may be due to the decline in the prices of some commodities in June under the guidance of the commodity price adjustment policy.
However, at the same time, Li Qilin also pointed out to reporters that there is a time lag in the transmission of commodity prices. Although there was a significant correction in commodity prices in late May, the raw materials used by enterprises in June may be purchased from April to May. Yes, including raw materials purchased at a high price in the previous period.
Therefore, judging from the latest industrial and enterprise profit data, in terms of manufacturing, the manufacturing profit rate of the month in June was 6.72%, and the previous value was 7.62%. The manufacturing profit rate has declined significantly. This may be related to the increase in industry costs caused by the increase in upstream raw material prices.
The unit cost and expenses both decreased year-on-year
Zhao Wei, chief economist of Kaiyuan Securities, pointed out to reporters that the data in June showed that under the influence of production restrictions, the profit growth rate of the upstream industry fell; .
In June, due to the limited production of coal and steel in the upstream industry, the two-year compound profit growth rate was 27.3% and 18.9%, respectively, which was lower than the 29.7% and 39.7% growth rates in May; in the middle and downstream industries, pharmaceutical manufacturing , Electrical machinery, and special equipment benefited from improved exports, and profit growth rose. However, due to the obvious decline in sales growth of automobiles, profit growth was dragged down.
The latest industrial and enterprise profit data also shows that the current business conditions of enterprises continue to improve.
Zhu Hong analyzed that in the first half of the year, the operating income of industrial enterprises above designated size increased by 27.9% year-on-year, and the growth rate was 1.5 and 9.2 percentage points faster than the combined operating costs and expenses respectively. The unit cost of both decreased year-on-year. The cost per hundred yuan of operating income decreased by 0.98 yuan year-on-year, and the cost per hundred yuan of operating income decreased by 0.65 yuan year-on-year. The operating income profit rate of industrial enterprises above designated size was 7.11%, a year-on-year increase of 1.66 percentage points and an increase of 0.47 percentage points from the first quarter.
Image source: National Bureau of Statistics
The data also shows that the number of loss-making enterprises has decreased and the amount of loss has decreased. At the end of June, the loss of industrial enterprises above designated size was 22.5%, a year-on-year decrease of 2.4 percentage points, and a decrease of 4.6 percentage points from the end of March; in the first half of the year, the loss of loss-making enterprises fell by 23.5% year-on-year. The loss of enterprises has improved significantly compared with the same period last year.
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