Core Viewpoint - The profits of industrial enterprises above designated size in China are expected to grow by 0.6% in 2025 compared to 2024, marking a reversal from three consecutive years of decline [1] Group 1: Overall Industrial Profit Trends - In December, profits of industrial enterprises increased by 5.3% month-on-month, recovering from a 13.1% decline in November, representing a rebound of 18.4 percentage points [1] - The manufacturing sector is projected to grow by 5.0%, with an acceleration of 8.9 percentage points compared to 2024 [1] - The electricity, heat, gas, and water production and supply sector is expected to grow by 9.4%, while the mining sector is forecasted to decline by 26.2% [1] Group 2: Equipment and High-Tech Manufacturing - Profits in the equipment manufacturing sector are expected to increase by 7.7% in 2025, contributing 2.8 percentage points to the overall profit growth of industrial enterprises [1] - The share of equipment manufacturing profits in total industrial profits is projected to reach 39.8%, an increase of 2.6 percentage points from 2024 [1] - High-tech manufacturing profits are anticipated to grow by 13.3%, outperforming the overall industrial profit growth by 12.7 percentage points [2] Group 3: Sector-Specific Performance - The smart consumer electronics sector is driving new consumption trends, with profits in smart consumer device manufacturing expected to rise by 48.0% [2] - In the semiconductor industry, profits in integrated circuit manufacturing and semiconductor device manufacturing are projected to grow by 172.6% and 128.0%, respectively [2] - The medical sector is also showing strong growth, with profits in gene-engineered drugs and vaccines manufacturing expected to increase by 72.7% [2] Group 4: Traditional Industries and Small Enterprises - Traditional industries are experiencing significant profit growth, with the biochemical pesticide manufacturing sector expected to see a profit increase of 20.7%, surpassing the average growth in the chemical industry [3] - Small and medium-sized enterprises, as well as foreign and Hong Kong, Macao, and Taiwan-invested enterprises, are expected to see profit growth of 1.4% and 4.2%, respectively, reversing previous declines [3] - State-owned and joint-stock enterprises are also showing improved profit margins, with reductions in profit decline compared to 2024 [3] Group 5: Future Outlook - The overall industrial profit growth indicates a positive trend supported by new industrial dynamics, although challenges remain due to external environmental changes and the need for industrial transformation [4] - Continued efforts in technological and industrial innovation are necessary to optimize industrial structure and improve enterprise efficiency [4]
2025年全国规模以上工业企业利润实现增长 装备制造业、高技术制造业等新动能支撑作用明显 传统产业利润结构持续优化
Zheng Quan Ri Bao·2026-01-27 16:46