Profits of the chemical material and chemical products manufacturing industry rose 73.4% year-on-year in the first four months.

Data released by the National Bureau of Statistics on May 27 showed that industrial enterprises above designated size across the country posted a total profit of 2.43584 trillion yuan in the January-April period, up 18.2% year-on-year.

Driven by rising international crude oil prices and higher prices of products along the related industrial chain, the petroleum processing sector reversed losses to register profits in the first four months, with total profits reaching 40.42 billion yuan. The chemical material and chemical products manufacturing industry earned a total profit of 191.07 billion yuan, a year-on-year increase of 73.4%, accelerating by 18.9 percentage points from the January-March reading. The booming performance of the chemical material sector has become a key driving force for the overall profit growth of the manufacturing industry.

Among industrial enterprises above designated size in the first four months, state-holding enterprises achieved a total profit of 827.15 billion yuan, up 17.1% year-on-year. Joint-stock enterprises recorded total profits of 1.88344 trillion yuan, growing by 24.0%. Foreign-invested and Hong Kong, Macao and Taiwan-invested enterprises posted total profits of 542.24 billion yuan, an increase of 2.3%. Private enterprises realized total profits of 651.14 billion yuan, rising by 23.7%.

By sector, the mining industry saw total profits of 361.84 billion yuan in the first four months, a year-on-year increase of 26.0%. The manufacturing industry notched up total profits of 1.80199 trillion yuan, up 20.4%. The production and supply of electric power, heat power, gas and water registered total profits of 272.01 billion yuan, down 1.9%.

Profit performance of major industries in the January-April period is as follows: profits of the non-ferrous metal smelting and rolling processing industry more than doubled year-on-year; those of the computer, communication and other electronic equipment manufacturing industry surged 110%; the chemical material and chemical products manufacturing industry grew 73.4%; the coal mining and washing industry rose 21.0%; the textile industry increased 11.2%; the oil and gas extraction industry went up 8.1%; the processing of petroleum, coal and other fuels turned losses into profits. Meanwhile, the general equipment manufacturing industry dipped 0.6%, the production and supply of electric power and heat power fell 2.5%, the special equipment manufacturing industry dropped 7.2%, the electrical machinery and equipment manufacturing industry slid 11.4%, the agricultural and sideline food processing industry declined 11.8%, the automobile manufacturing industry decreased 16.8%, the non-metallic mineral products industry plunged 50.7%, and the ferrous metal smelting and rolling processing industry fell 51.5%.

In the first four months, industrial enterprises above designated size generated operating revenue of 44.89 trillion yuan, a year-on-year increase of 5.2%. Their total operating costs stood at 38.13 trillion yuan, up 4.5%. The operating revenue profit margin came to 5.43%, rising 0.60 percentage points year-on-year.

At the end of April, the total assets of industrial enterprises above designated size reached 192.07 trillion yuan, growing 5.5% year-on-year. Total liabilities hit 111.39 trillion yuan, an increase of 5.9%. Total owners’ equity amounted to 80.69 trillion yuan, up 5.1%. The asset-liability ratio stood at 58.0%, edging up 0.2 percentage points year-on-year. Accounts receivable of these enterprises totaled 27.44 trillion yuan, rising 7.2%, and finished goods inventory was 6.95 trillion yuan, up 6.7%.

For every 100 yuan of operating revenue earned by industrial enterprises above designated size in the first four months, costs stood at 84.94 yuan, a year-on-year decrease of 0.55 yuan, while expenses were 8.39 yuan, up 0.01 yuan year-on-year.

At the end of April, every 100 yuan of assets generated 70.8 yuan of operating revenue for industrial enterprises above designated size, down 0.2 yuan year-on-year. The per capita operating revenue was 1.868 million yuan, an increase of 111,000 yuan year-on-year. The average inventory turnover days of finished goods were 21.4 days, up 0.4 days year-on-year. The average collection period for accounts receivable was 72.2 days, an increase of 1.3 days year-on-year.

In April alone, profits of industrial enterprises above designated size rose 24.7% year-on-year.