In The First Half Of The Year, The Profit Of Industrial Enterprises Dropped By 2.4% Compared With The Same Period Last Year, And The 26 Industry Profits Increased Year By Year.

Recently, the financial data of industrial enterprises released by the National Bureau of statistics showed that in the first half of 2019, the profits of Industrial Enterprises above Designated Size dropped by 2.4% compared with the same period last year, including 3.3% in the first quarter and 1.9% in the two quarter.

Hong Zhu, Senior Statistician of the industry bureau of the National Bureau of statistics, said that the first half of the year showed the following characteristics of industrial enterprises' efficiency. First, the new profit mainly came from building materials, power and electrical machinery. Two, the profit growth of consumer goods manufacturing industry is relatively fast, and the profit of strategic emerging industries and high-tech manufacturing industries keeps growing. Three, private sector profits continued to grow. In the first half of this year, private sector profits increased by 6% over the same period last year. The four is the decline in asset liability ratio.

From the specific data, in the first half of the year, 26 industries in 41 industrial sectors increased profits, accounting for 63.4%. Among them, the industry with more new profits mainly includes: the profit of building materials industry has increased by 11.9% over the same period, the electricity industry has increased by 11.5%, the electrical machinery and equipment manufacturing industry has increased by 13%, and the manufacturing industry of wine, beverages and refined tea has increased by 16.9%. The total profits of these four industries have increased by 2.6 percentage points for all industrial enterprises above designated size.

In the first half of this year, the profit of the consumer goods manufacturing industry increased by 7.4%, the strategic emerging industries increased by 2.3%, and the high-tech manufacturing industry increased by 0.4%. At the end of 6, the asset liability ratio of Industrial Enterprises above designated size was 57%, down 0.3 percentage points compared with the same period last year.

From the perspective of ownership, from January to June, the total profits of state holding enterprises in Industrial Enterprises above Designated Size amounted to 936 billion 880 million yuan, down 8.7% compared with the same period last year. The total profit of shareholding enterprises reached 2 trillion and 139 billion 60 million yuan, an increase of 0.2%. The total profits of foreign invested enterprises and Hong Kong, Macao and Taiwan invested enterprises decreased by 8.4%, while private enterprises realized a total profit of 743 billion 70 million yuan, an increase of 6%.

Zhang Yu, chief macroeconomic analyst at Huachuang securities, told the Securities Daily that the growth rate of private enterprises in June dropped by 3.4%, compared with the growth rate of 15.22% in May. The state owned and state holding enterprises decreased 4.88% in June compared with the previous year, which is better than the previous value (9.7%), which is contrary to the obvious decline in the mining industry and upstream materials. However, the total profit of tobacco products industry increased by 63% in June compared with the same period in June. Foreign businesses and Hong Kong, Macao and Taiwan decreased by 8.8% in June compared with the previous year, which was weaker than the previous value (8.3%).

Hong Zhu said, overall, industrial profits in the first half of the year have declined, mainly due to a few industries such as automobiles, petroleum processing and iron and steel. In the first half of the year, the profit of auto industry dropped by 24.9%, due to the low market demand. Profits from petroleum and iron and steel industries dropped by 53.6% and 21.8% respectively. The above three industries together affect the profits of all industrial enterprises above Designated Size, down 6.3 percentage points year-on-year.