Core Insights - The total profit of industrial enterprises above designated size in China reached 53,732 billion yuan from January to September, reflecting a year-on-year increase of 3.2% [1] - The profit distribution among different types of enterprises shows that state-owned enterprises experienced a slight decline, while private and foreign-invested enterprises saw growth [1][2] Financial Performance - The total operating revenue for industrial enterprises was 1,020,846.7 billion yuan, with a year-on-year growth of 2.4%, and the operating costs were 873,426 billion yuan, increasing by 2.6% [2][9] - The profit margin for operating revenue was 5.26%, which is an increase of 0.04 percentage points compared to the previous year [2] Industry-Specific Performance - The mining industry reported a significant profit decline of 29.3%, while the manufacturing sector saw a profit increase of 9.9% [1][2] - Key industries with notable profit growth include electricity, heat production, and supply, which grew by 14.4%, and non-ferrous metal smelting and rolling, which increased by 14.0% [2][9] Asset and Liability Overview - As of the end of September, total assets of industrial enterprises amounted to 186,270 billion yuan, a year-on-year increase of 5.0%, while total liabilities reached 107,960 billion yuan, growing by 5.2% [2][3] - The equity of owners totaled 78,310 billion yuan, reflecting a growth of 4.7%, with an asset-liability ratio of 58.0%, up by 0.1 percentage points [2][3] Efficiency Metrics - Accounts receivable stood at 27,220 billion yuan, increasing by 5.7%, and finished goods inventory was 6,710 billion yuan, up by 2.8% [3] - The average collection period for accounts receivable was 69.2 days, an increase of 3.3 days year-on-year, while the turnover days for finished goods inventory were 20.2 days, up by 0.2 days [3]

Core Insights - From January to September, the total profit of industrial enterprises above designated size in China reached 53,732.0 billion yuan, representing a year-on-year increase of 3.2% [1] Group 1: Profit by Ownership Type - State-controlled enterprises achieved a total profit of 17,021.8 billion yuan, a year-on-year decrease of 0.3% [1] - Joint-stock enterprises reported a total profit of 39,923.5 billion yuan, an increase of 2.8% year-on-year [1] - Foreign and Hong Kong, Macao, and Taiwan-invested enterprises realized a total profit of 13,509.7 billion yuan, growing by 4.9% [1] - Private enterprises recorded a total profit of 15,131.7 billion yuan, marking a year-on-year increase of 5.1% [1] Group 2: Profit by Industry - The mining industry reported a total profit of 6,369.2 billion yuan, a significant year-on-year decline of 29.3% [1] - The manufacturing sector achieved a total profit of 40,671.8 billion yuan, reflecting a year-on-year growth of 9.9% [1] - The electricity, heat, gas, and water production and supply industry realized a total profit of 6,691.0 billion yuan, with a year-on-year increase of 10.3% [1] Group 3: Major Industry Profit Changes - The electricity and heat production and supply industry saw a profit increase of 14.4% year-on-year [2] - The non-ferrous metal smelting and rolling processing industry grew by 14.0% [2] - The agricultural and sideline food processing industry experienced a profit increase of 12.5% [2] - The computer, communication, and other electronic equipment manufacturing industry grew by 12.0% [2] - The electrical machinery and equipment manufacturing industry increased by 11.3% [2] - The general equipment manufacturing industry saw an 8.4% profit increase [2] - The specialized equipment manufacturing industry grew by 6.8% [2] - The non-metallic mineral products industry reported a profit increase of 5.1% [2] - The automobile manufacturing industry experienced a profit growth of 3.4% [2] - The black metal smelting and rolling processing industry turned from loss to profit [2] - The petroleum, coal, and other fuel processing industry reduced its losses year-on-year [2] - The chemical raw materials and chemical products manufacturing industry declined by 4.4% [2] - The textile industry saw a decrease of 5.9% [2] - The oil and gas extraction industry experienced a decline of 13.3% [2] - The coal mining and washing industry reported a profit total of 2,246.4 billion yuan, down 51.1% year-on-year [2]

Group 1 - The core viewpoint is that the profits of industrial enterprises have shown a recovery trend, with a year-on-year increase of 3.2% from January to September, marking the highest cumulative growth rate since August of the previous year [1] - In the manufacturing sector, profits increased by 9.9%, while the electricity, heat, gas, and water production and supply industry saw a growth of 10.3%. The mining industry, however, experienced a decline of 29.3%, although the decline has narrowed [1][2] - In September, the profits of industrial enterprises increased by 21.6% year-on-year, accelerating by 1.2 percentage points compared to August [1] Group 2 - Over half of the industries saw profit growth, with 23 out of 41 major industrial categories reporting year-on-year profit increases from January to September, and 30 industries showing profit growth in September [2] - High-tech manufacturing played a significant role, with profits increasing by 8.7% year-on-year, contributing 1.6 percentage points to the overall profit growth of industrial enterprises [2] - In September, high-tech manufacturing profits grew by 26.8%, contributing 6.1 percentage points to the overall profit growth of industrial enterprises [2] Group 3 - The equipment manufacturing sector showed strong support, with profits increasing by 9.4% year-on-year, surpassing the average growth rate of all industrial enterprises by 6.2 percentage points [3] - In September, profits in the equipment manufacturing sector grew by 25.6%, contributing 10.5 percentage points to the overall profit growth of industrial enterprises [3] - All eight industries within the equipment manufacturing sector reported profit growth from January to September, with notable increases in railways, shipbuilding, and aerospace [3] Group 4 - The profit margin for industrial enterprises improved, with a profit margin of 5.26% from January to September, an increase of 0.04 percentage points year-on-year [4] - In September, the profit margin rose to 5.49%, reflecting an increase of 0.85 percentage points year-on-year, marking two consecutive months of improvement [4] - The focus moving forward will be on expanding domestic demand and strengthening the domestic economic cycle to promote stable and healthy industrial economic development [4]

Core Insights - The data indicates a mixed performance in coal production across various regions in China for the first nine months of 2025, with some areas showing growth while others experience declines [1] Regional Production Summary - **Shanxi**: Coal production reached 97,524,000 tons, a 3.7% increase from the previous year. However, September's production decreased by 4.3% compared to the same month last year [1] - **Inner Mongolia**: Production was 94,327,800 tons, down 0.8% year-on-year, with a 2.5% decline in September's output [1] - **Shaanxi**: Reported a 2.4% increase in production to 58,848,500 tons, with September showing a 3.7% rise [1] - **Xinjiang**: Experienced a 4.1% increase in production to 40,056,800 tons, but September's output fell by 6.9% [1] - **Guizhou**: Production increased by 5.4% to 11,244,200 tons, with a 4.6% decrease in September [1] - **Heilongjiang**: Notable growth of 25% year-on-year, reaching 4,740,000 tons, with September's output remaining stable [1] - **Hebei**: Showed a significant decline of 7.8% year-on-year, producing 3,142,500 tons [1] - **Liaoning**: Experienced a slight decrease of 1.7% in production, totaling 2,264,100 tons [1] - **Hunan**: Reported a decrease of 3.5% in production, totaling 639,000 tons [1] - **Fujian**: Production decreased by 1.5% to 325,500 tons, with a significant drop of 27.3% in September [1]

Core Insights - The total profit of industrial enterprises above designated size in China reached 53,732 billion yuan from January to September, marking a year-on-year increase of 3.2% [1][4]. Group 1: Profit by Ownership Type - State-owned enterprises achieved a total profit of 17,021.8 billion yuan, a decrease of 0.3% year-on-year [2]. - Shareholding enterprises reported a profit of 39,923.5 billion yuan, an increase of 2.8% [2]. - Foreign and Hong Kong, Macao, and Taiwan-invested enterprises saw profits rise by 4.9% to 13,509.7 billion yuan [2]. - Private enterprises experienced a profit growth of 5.1%, totaling 15,131.7 billion yuan [2]. Group 2: Profit by Industry - The mining industry reported a profit of 6,369.2 billion yuan, down 29.3% year-on-year [3]. - The manufacturing sector achieved a profit of 40,671.8 billion yuan, reflecting a growth of 9.9% [3]. - The electricity, heat, gas, and water production and supply industry saw profits increase by 10.3% to 6,691.0 billion yuan [3]. - Notable profit growth was observed in the electricity and heat production and supply industry (14.4%), non-ferrous metal smelting and rolling processing (14.0%), and agricultural and sideline food processing (12.5%) [3]. Group 3: Revenue and Costs - From January to September, the total operating revenue of industrial enterprises above designated size was 1,020,846.7 billion yuan, up 2.4% year-on-year [4]. - Operating costs amounted to 873,426.0 billion yuan, increasing by 2.6% [4]. - The operating profit margin was 5.26%, an increase of 0.04 percentage points compared to the previous year [4]. Group 4: Financial Indicators - As of the end of September, total assets of industrial enterprises reached 186,270 billion yuan, a year-on-year increase of 5.0% [5]. - Total liabilities were 107,960 billion yuan, up 5.2% [5]. - Total owners' equity was 78,310 billion yuan, reflecting a growth of 4.7% [5]. - The asset-liability ratio stood at 58.0%, an increase of 0.1 percentage points year-on-year [5]. Group 5: Accounts Receivable and Inventory - Accounts receivable totaled 27,220 billion yuan, a year-on-year increase of 5.7% [6]. - Finished goods inventory was 6,710 billion yuan, up 2.8% [6]. - The average collection period for accounts receivable was 69.2 days, an increase of 3.3 days year-on-year [8]. Group 6: Monthly Performance - In September, profits of industrial enterprises increased by 21.6% year-on-year [9].

1—9月份规模以上工业企业利润加快恢复 过半行业利润增长，六成行业增速回升。1—9月份，在41个工业大类行业中，有23个行业利润同比增 长，增长面超过五成；其中，9月份有30个行业利润增长，增长面达73.2%。从回升面看，1—9月份， 有26个行业利润增速较1—8月份加快或降幅收窄、由降转增，回升面超过六成。 高技术制造业带动作用明显。1—9月份，规模以上高技术制造业利润同比增长8.7%，较1—8月份加快 2.7个百分点，拉动全部规模以上工业企业利润增长1.6个百分点。其中，9月份高技术制造业利润两位数 增长，增速达26.8%，拉动当月全部规模以上工业企业利润增长6.1个百分点，成为工业企业高质量发展 的重要动力。从行业看，1—9月份，在航空航天产业高速发展的背景下，航空航天器及设备制造利润增 长11.3%；智能化、自动化领域创新持续推进，带动智能消费设备制造、电子器件制造、电子工业专用 设备制造等行业利润分别增长81.6%、39.7%、25.5%；精密仪器制造高质量发展效果显现，光学仪器制 造、专用仪器仪表制造等行业利润分别增长45.2%、17.5%。 装备制造业支撑有力，部分行业增长较快。1—9月份，规模 ...

1—9月份规模以上工业企业利润加快恢复 ——国家统计局工业司首席统计师于卫宁解读2025年1—9月份工业企业利润数据 1—9月份，各地区各部门认真落实更加积极有为宏观政策，培育壮大新经济增长点，高技术制造业、装 备制造业等新质生产力较快增长，叠加低基数效应影响，规模以上工业企业利润增速继续回升。 工业企业利润加快恢复。1—9月份，规模以上工业企业利润同比增长3.2%，为去年8月份以来各月累计 最高增速；较1—8月份加快2.3个百分点，呈现加快恢复态势。从三大门类看，1—9月份，制造业增长 9.9%，较1—8月份加快2.5个百分点；电力、热力、燃气及水生产和供应业增长10.3%，加快0.9个百分 点；采矿业下降29.3%，降幅收窄1.3个百分点。9月份，规模以上工业企业利润同比增长21.6%，较8月 份加快1.2个百分点。 工业企业营收增长加快。1—9月份，规模以上工业企业营业收入同比增长2.4%，较1—8月份加快0.1个 百分点。其中，9月份营业收入增长2.7%，较8月份加快0.8个百分点，营业收入当月增速连续两个月加 快，为企业盈利持续恢复创造有利条件。 高技术制造业带动作用明显。1—9月份，规模以上高技术 ...

焦煤（主焦煤，含硫量<1%）价格为1490.0元/吨，较上期上涨11.4元/吨，涨幅0.8%。 数据显示，10月中旬无烟煤价格调转下跌；动力煤价格依旧在大幅上涨；焦煤价格持续偏强运行。 此外，10月中旬，全国焦炭（准一级冶金焦，12.01%≤灰分≤13.50%）价格1396.4元/吨，较上期上涨 50.0元/吨，涨幅3.7%。 国家统计局公布的数据显示，10月中旬，全国各煤种价格以涨为主。各煤种具体价格变化情况如下： 无烟煤（洗中块，挥发份≤8%）价格874.0元/吨，较上期下跌43.0元/吨，跌幅4.7%。 普通混煤（山西粉煤与块煤的混合煤，热值4500大卡）价格554.9元/吨，较上期上涨10.9元/吨，涨幅 2.0%。 山西大混（质量较好的混煤，热值5000大卡）价格为635.3元/吨，较上期上涨18.4元/吨，涨幅3.0%。 山西优混（优质的混煤，热值5500大卡）价格为726.3元/吨，较上期上涨19.4元/吨，涨幅2.7%。 大同混煤（大同产混煤，热值5800大卡）价格为765.7元/吨，较上期上涨20.8元/吨，涨幅2.8%。 ...

（文章来源：国家统计局） 国家统计局工业司首席统计师于卫宁解读2025年1—9月份工业企业利润数据，装备制造业支撑有力，部 分行业增长较快。1—9月份，规模以上装备制造业利润同比增长9.4%，高于全部规模以上工业平均水 平6.2个百分点，拉动全部规模以上工业企业利润增长3.4个百分点。其中，9月份装备制造业利润增长 25.6%，拉动当月全部规模以上工业企业利润增长10.5个百分点。从行业看，1—9月份，装备制造业的8 个行业利润全部实现增长，其中，铁路船舶航空航天、电子、电气机械等行业利润分别增长37.3%、 12.0%、11.3%。 ...

Core Insights - The profit growth of major industries in China from January to September shows a positive trend, with significant increases in several sectors [1] Industry Performance Summary - The electricity and heat production and supply industry experienced a profit increase of 14.4% year-on-year [1] - The non-ferrous metal smelting and rolling processing industry saw a profit growth of 14.0% [1] - The agricultural and sideline food processing industry reported a profit increase of 12.5% [1] - The computer, communication, and other electronic equipment manufacturing industry grew by 12.0% [1] - The electrical machinery and equipment manufacturing industry experienced an 11.3% profit increase [1] - The general equipment manufacturing industry saw an 8.4% growth in profits [1] - The special equipment manufacturing industry reported a profit increase of 6.8% [1] - The non-metallic mineral products industry experienced a profit growth of 5.1% [1] - The automobile manufacturing industry reported a profit increase of 3.4% [1] - The black metal smelting and rolling processing industry turned from loss to profit [1] - The petroleum, coal, and other fuel processing industry reduced its losses year-on-year [1] - The chemical raw materials and chemical products manufacturing industry saw a decline of 4.4% [1] - The textile industry reported a decline of 5.9% [1] - The oil and gas extraction industry experienced a decline of 13.3% [1] - The coal mining and washing industry faced a significant decline of 51.1% [1]