规上工业企业利润降幅连续两个月收窄

Core Insights - The profit decline of large-scale industrial enterprises has narrowed for two consecutive months, with a year-on-year decrease of 1.5% in July, which is an improvement of 2.8 percentage points compared to June [1] - Manufacturing profits have shown significant growth, contributing greatly to the recovery of industrial profits, with a 6.8% year-on-year increase in July, accelerating by 5.4 percentage points from June [2] Group 1: Industrial Profit Trends - In July, the gross profit margin of large-scale industrial enterprises shifted from a 1.3% decline in June to a 0.1% increase, indicating a recovery in profitability [1] - The operating revenue of large-scale industrial enterprises increased by 0.9% year-on-year in July, with a cumulative growth of 2.3% over the first seven months [1] Group 2: Manufacturing Sector Performance - The profit of the raw materials manufacturing sector turned from a 5.0% decline in June to a 36.9% increase in July, with the steel and petroleum processing industries achieving profits of 18.09 billion and 3.46 billion respectively [1] - High-tech manufacturing profits surged by 18.9% in July, with notable growth in aerospace (40.9%), integrated circuits (176.1%), and semiconductor devices (104.5%) [2] Group 3: Small and Medium Enterprises - Profits of medium and small enterprises improved significantly in July, with medium-sized enterprises showing a 1.8% increase and small enterprises a 0.5% increase, reversing previous declines [3] - Private enterprises reported a profit growth of 2.6% in July, exceeding the average growth rate of all large-scale industrial enterprises by 4.1 percentage points [3]