Chemical industry profits fell 16% year-on-year from January to April

Data released by the National Bureau of Statistics on May 27 showed that from January to April, the total profit of industrial enterprises above designated size nationwide was 1.81294 billion yuan, a year-on-year decrease of 3.4%, and the decline was the same as that from January to April. March was roughly the same. Among them, the total profit of the oil and natural gas extraction industry increased by 19.7% year-on-year, while the chemical raw materials and chemical products manufacturing industry decreased by 16.0%.

The National Bureau of Statistics stated that the performance of industrial enterprises from January to April showed the following characteristics:

<span style="font-size: 16px" From January to April, the profits of the oil exploration industry increased by 19.7% year-on-year, and the growth rate was 9.4 percentage points faster than that from January to March; the profits of the steel, petroleum processing, and chemical industry fell by 28.1%, 50.2%, and 16.0% year-on-year respectively, and the decline rate was 9.4 percentage points higher than that from January to March. In March, they narrowed by 16.4, 4.3 and 1.8 percentage points respectively.

Second, nearly 70% of industry profits increased year-on-year. From January to April, among 41 major industrial industries, 27 industries saw profits increase year-on-year, accounting for 66%. The industries with the largest new profits are mainly: tobacco products industry, with profits increasing by 29.4% year-on-year; wine, beverage and refined tea manufacturing industry, increasing by 18.1%; electrical machinery and equipment manufacturing industry, increasing by 14.5%; non-metallic mineral products industry, increasing 12.6%; the electricity and heat production and supply industry increased by 12.3%.

Third, the profit decline of state-owned holding enterprises narrowed. From January to April, profits of state-controlled enterprises fell by 9.7% year-on-year, 3.7 percentage points narrower than that from January to March.

<span style="font-size: 16px" From January to April, private enterprise profits increased by 4.1% year-on-year.

Fifth, the asset-liability ratio dropped. At the end of April, the asset-liability ratio of industrial enterprises above designated size was 56.8%, a year-on-year decrease of 0.5 percentage points. Among them, the asset-liability ratio of state-controlled enterprises was 58.4%, a decrease of 1.1 percentage points.

Due to the reduction in the value-added tax rate effective from April 1, the demand for some industrial products in April was lower than in March. Due to the early release and the high base in the same period, the profits of industrial enterprises above designated size in April fell by 3.7% year-on-year, with greater fluctuations compared with March. But looking at the average growth rate, profits grew by an average of 5.0% in March and April.

From January to April, among 41 major industrial industries, the total profits of 27 industries increased year-on-year. 14 industries decreased. The profit situation of the main industries is as follows: the total profit of the oil and natural gas extraction industry increased by 19.7% year-on-year, the special equipment manufacturing industry increased by 17.9%, the electrical machinery and equipment manufacturing industry increased by 14.5%, the non-metallic mineral products industry increased by 12.6%, and the electricity, heat production and The supply industry increased by 12.3%, the general equipment manufacturing industry increased by 7.3%, the textile industry increased by 3.7%, the petroleum, coal and other fuel processing industry decreased by 50.2%, the ferrous metal smelting and rolling processing industry decreased by 28.1%, and the automobile manufacturing industry decreased by 25.9%. The coal mining and washing industry decreased by 16.5%, the chemical raw materials and chemical products manufacturing industry decreased by 16.0%, the computer, communications and other electronic equipment manufacturing industry decreased by 15.3%, the non-ferrous metal smelting and rolling processing industry decreased by 6.6%, and the agricultural and sideline food processing industry decreased by 16.5%. down 4.9%.

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