Bureau Of Statistics: Profit Growth Of Industrial Enterprises In May

In May, with the further promotion of resumption of work and production, the order of production and operation was gradually restored, and the efficiency of industrial enterprises continued to improve. But accumulatively, the profit in 1 - May dropped by 19.3% compared to the same period, and the decline was still larger.

1. The profit growth rate of industrial enterprises changed from negative to positive in May.

In May, the total profit of Industrial Enterprises above Designated Size reached 582 billion 340 million yuan, from 6% in April to 6%.

First, the pressure of rising costs has eased significantly. In May, the cost of industrial revenue per 100 yuan for industrial enterprises above designated size was 84.29 yuan, an increase of 0.21 yuan compared with the same period last year. The increase was significantly reduced by 1 yuan compared with April, easing the pressure brought by the sharp rise in unit costs since 3 and April.

Two, changes in industrial prices will increase the profit margins of enterprises. In May, producer prices of industrial producers fell by 3.7% over the same period last year, a drop of 0.6 percentage points more than in April. Meanwhile, the purchasing price of industrial producers fell by 5% over the same period last year, a drop of 1.2 percentage points more than in April. The rate of decline in the purchase price of industrial products is obviously higher than that of factory prices, which is conducive to increasing the profit margins of enterprises.

Three, oil processing, power, chemical, steel and other key industries, profits improved significantly. The profit of oil processing, power, chemical industry and steel industry has improved significantly under the multiple pressure factors such as cost pressure reduction, market demand improvement and related supporting policies. The profit of the petroleum processing industry changed from a loss of 21 billion 800 million yuan in April to 11 billion 620 million yuan in May, an increase of 8.9% over the same period last year. In May, the profit of the electric power industry increased by 10.9%, and in April it dropped by 15.7%. The profits of the chemical industry decreased by 9.6%, the decline narrowed by 19.7 percentage points compared with that in April. The profits of the steel industry decreased by 50.5%, and the decline narrowed by 15.1 percentage points.

In addition, a substantial increase in investment income in the month also contributed to a marked improvement in profits in May.

Two, the efficiency of enterprises continues to improve.

The first is the improvement of enterprise profitability. In May, the operating profit margin of Industrial Enterprises above designated size was 6.82%, an increase of 0.29 percentage points over the same period last year, 1.15 percentage points higher than that in April.

Two, the situation of corporate losses has improved. At the end of 5, the loss of Industrial Enterprises above Designated Size dropped by 2.7 percentage points over the end of 4. In May, the deficit margin of deficit companies narrowed by 11 percentage points compared to April.

Three, the inventory pressure of industrial finished products has eased. At the end of 5, the growth rate of finished product inventories of Industrial Enterprises above Designated Size dropped 1.6 percentage points from the end of 4, and the turnover days of finished goods inventory were 20.9 days, 0.8 days lower than that at the end of 4 months.

Although the profit of industrial enterprises in May has increased for the first time this year, the market demand is still weak under the impact of the epidemic, and the persistence of profit recovery needs further observation. First, the growth rate of industrial sales has slowed down. In May, the operating revenue growth of Industrial Enterprises above Designated Size dropped 3.7 percentage points compared with April. Two, the number of industries with better profits has decreased, and 21 industries in 41 industrial sectors have increased profits faster than April or narrowed by 12 industries.

At the next stage, we should continue to thoroughly implement the decision making arrangements of the Party Central Committee and the State Council, scientifically co-ordinate the epidemic prevention and control and economic and social development, do a solid job in "six stability", fully implement the "six guarantees" task, actively implement the policies of various enterprises to help enterprises, stabilize the basic economic plates, and promote the recovery of the industrial economy.