In The Second Quarter, The Profit Growth Of Industrial Enterprises Accelerated Month By Month, And The Textile Industry Rebounded Significantly

On the 27th, the National Bureau of statistics released data on the total profits of Industrial Enterprises above Designated Size in the first half of the year and June. Zhu Hong, a senior statistician at the industry department of the National Bureau of statistics, said that in the first half of this year, the profit growth rate of industrial enterprises showed a trend of "low in the first half of this year, and then high, from decline to rise". In terms of quarters, the profits of industrial enterprises increased by 4.8% in the second quarter and decreased by 36.7% in the first quarter. Especially in May and June, profits increased by 6% and 11.5% respectively, and the growth rate accelerated month by month.

According to the data, from January to June, the total profits of Industrial Enterprises above Designated Size nationwide reached 251.49 billion yuan, a year-on-year decrease of 12.8%, 6.5 percentage points lower than that of January to May. In terms of industries, in the second quarter, of the 41 major industrial sectors, 37 industries' profit growth accelerated (or the decline narrowed, from negative to positive), and 25 of them achieved profit growth.

Among them, the profits of equipment manufacturing industry and high-tech manufacturing industry improved significantly. The profit of the equipment industry rose by 46.7% in the second quarter, the largest drop in the first quarter. Among them, the switch of environmental protection standards and the acceleration of infrastructure projects have led to an obvious rebound in the automobile and special equipment industries. The profits of the automobile and special equipment industries increased by 26% and 63.5% in the second quarter, while they decreased by 80.2% and 34.7% in the first quarter. In the second quarter, profits of high-tech manufacturing industry increased by 34.6%, the highest growth rate of the industry sector, compared with a decrease of 17.1% in the first quarter. Among them, the profit of electronic industry increased by 47.6% in the second quarter and decreased by 12% in the first quarter due to the impact of orders transferred to China and the increase of domestic demand.

Profit growth of consumer goods manufacturing industry has recovered. In the second quarter, the profit of consumer goods manufacturing industry increased by 10.1% year-on-year, and decreased by 13.6% in the first quarter. Among them, the food manufacturing and textile industries rebounded more obviously, with profits in the second quarter increasing by 36.8% and 19%, while those in the first quarter decreased by 27.4% and 38.8% respectively.

The profit decline of raw material manufacturing industry was significantly narrowed. In the second quarter, the profit of raw material manufacturing industry decreased by 17.9% year-on-year due to the accelerated promotion of infrastructure projects and the price rise of major raw materials and fuel products. The decline rate was 45% lower than that in the first quarter. Among them, the oil processing industry realized a profit of 10.45 billion yuan in the second quarter and a loss of 24.7 billion yuan in the first quarter due to the two-way impact of the recovery of refined oil prices and the low-cost inventory of crude oil as raw materials. In addition, the profits of building materials industry increased by 6.5% in the second quarter, and decreased by 34% in the first quarter; the profits of chemical industry and steel industry decreased by 13.5% and 34.1% respectively in the second quarter, which were 43% and 21.6% lower than those in the first quarter.

Zhu Hong stressed that although the profit situation of industrial enterprises in the second quarter recovered significantly, overall, due to the impact of the new crown pneumonia epidemic, the market demand was still weak, and the production and operation of enterprises were still facing many difficulties. The accumulated profits of industrial enterprises in the first half of the year still decreased by 12.8%, and the profit growth structure needs to be further optimized.