Interpretation of industrial enterprise profits in September: slowdown in earnings growth

Abstract According to the National Bureau of Statistics website news, October 27 National Bureau of Statistics of industrial enterprise financial data, 1--9 months, the national scale industrial enterprises realized a total profit of 4.04528 trillion yuan, up 13.5 percent over last year, higher than the From January to August...
According to the website of the National Bureau of Statistics, the financial data of industrial enterprises released by the National Bureau of Statistics on October 27 showed that from January to September, the total profits of industrial enterprises above designated size reached 40,452.8 billion yuan, an increase of 13.5% over the same period of last year. In August, it increased by 0.7 percentage points. Among them, the main activity profit was 4,121.52 billion yuan, an increase of 5.3%, and the growth rate was increased by 0.4 percentage points. In September, industrial enterprises above designated size achieved a total profit of 558.89 billion yuan, an increase of 18.4% over the same period of last year. The growth rate dropped by 5.8 percentage points from August, of which the main activity profit was 541.45 billion yuan, an increase of 7.5%. Increase by 3.5 percentage points.

The acceleration in sales growth, the rebound in ex-factory prices, and the decline in unit costs were the main reasons for the rapid growth in profits in September. In September, the income from the main business of industrial enterprises above designated size increased by 11.9%, and the growth rate was 1.6 percentage points faster than that in August; the decline in the ex-factory price of industrial products was 0.3 percentage points lower than that in August; the income from industrial enterprises per 100 yuan was the main business income. The cost is 85.65 yuan, a decrease of 0.63 yuan from August.

The slowdown in investment income growth was the main reason for the decline in total profit growth in September compared to August. In September, investment income of industrial enterprises above designated size increased by 9.5% year-on-year, and the growth rate dropped by 20.1 percentage points from August, which caused the growth rate of total profit in September to fall back from August.

Most of the industry's total profit increased compared with the same period last year. In September, among all 41 major industries, the total profit of 36 industries increased compared with the same period of last year, and only 5 industries declined.

The five industries with the most profit added are: the total profit of ferrous metal smelting and rolling processing industry increased by 11.1 billion yuan over the same period of last year, the non-metallic mineral products industry increased by 6.07 billion yuan, the automobile manufacturing industry increased by 5.81 billion yuan, petroleum processing coking and nuclear fuel. The processing industry increased by 4.89 billion yuan, and the agricultural and sideline food processing industry increased by 4.77 billion yuan. The total new profits of these five industries accounted for 37.6% of the total new profits of industrial enterprises above designated size, which was 15.2 percentage points lower than the 52.8% of the top five industries in August.

In addition, in September, the total profit of coal mining and washing industry increased for the first time. The increase in total profit of electric power production and supply industry has slowed down, and the contribution to the growth of total corporate profits has declined.

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