Core Insights - In July, profits of China's industrial enterprises above designated size fell by 1.5% year-on-year, a narrowing of the decline by 2.8 percentage points compared to June, marking two consecutive months of improvement [1] - From January to July, the profit decline was reduced by 0.1 percentage points compared to the first half of the year, indicating a continued recovery in corporate profitability [1] - The revenue of these enterprises grew by 0.9% year-on-year in July, and by 2.3% from January to July, creating favorable conditions for profit recovery [1] Group 1: Profit Trends - In July, the gross profit margin of industrial enterprises turned from a 1.3% decline in June to a 0.1% increase [1] - Manufacturing profits saw a significant increase of 6.8% year-on-year in July, accelerating by 5.4 percentage points compared to June, contributing to a faster overall profit growth for industrial enterprises [2] - The raw material manufacturing sector's profits shifted from a 5.0% decline in June to a 36.9% increase in July, with the steel and petroleum processing industries returning to profitability [1] Group 2: High-Tech Manufacturing - In July, profits in high-tech manufacturing shifted from a 0.9% decline in June to an 18.9% increase, significantly boosting the overall profit growth of industrial enterprises [2] - Specific sectors within the semiconductor industry experienced remarkable profit growth, with integrated circuit manufacturing up by 176.1%, semiconductor device manufacturing up by 104.5%, and semiconductor discrete device manufacturing up by 27.1% [2] Group 3: Enterprise Size and Type - Profits for medium and small-sized enterprises improved, with medium-sized enterprises seeing a turnaround from a 7.8% decline in June to a 1.8% increase in July, and small enterprises from a 9.7% decline to a 0.5% increase [2] - Private enterprises reported a 2.6% year-on-year profit increase in July, outperforming the average profit growth of all industrial enterprises by 4.1 percentage points [2]

Group 1 - The core viewpoint of the article highlights that industrial production in China has maintained stable growth in July, contributing to a reasonable recovery in price levels [1] - In July, profits in the manufacturing sector increased by 6.8% year-on-year, with the growth rate accelerating by 5.4 percentage points compared to June [1] - The overall profit growth rate for all industrial enterprises above designated size accelerated by 3.6 percentage points compared to June [1] Group 2 - In terms of specific sectors, the raw material manufacturing industry saw a profit turnaround, with profits increasing by 36.9% in July after a decline of 5.0% in June [1] - The steel and petroleum processing industries returned to profitability, achieving total profits of 18.09 billion and 3.46 billion respectively in July [1] - Conversely, the consumer goods manufacturing sector experienced a decline of 4.7%, although the decline was narrowed by 3.0 percentage points compared to June [1]

国家统计局工业司统计师于卫宁：工业企业利润增长加快 金十数据5月27日讯，1—4月份，规模以上工业企业利润增长1.4%，较1—3月份加快0.6个百分点，延续 恢复向好态势。从行业看，在41个工业大类行业中，有23个行业利润同比增长，增长面近六成。4月 份，全国规模以上工业企业利润同比增长3.0%，较3月份加快0.4个百分点。 ...