Core Viewpoint - In 2025, the total profit of industrial enterprises above designated size in China reached 739.82 billion yuan, reflecting a year-on-year growth of 0.6% [1] Summary by Sections Profit Distribution by Ownership Type - State-controlled enterprises reported a total profit of 205.61 billion yuan, down 3.9% year-on-year - Shareholding enterprises achieved a profit of 55,408.3 billion yuan, a slight decrease of 0.1% - Foreign and Hong Kong, Macao, and Taiwan-invested enterprises saw profits rise by 4.2% to 17,447.4 billion yuan - Private enterprises maintained profits at 22,810.6 billion yuan, unchanged from the previous year [1] Profit Distribution by Industry - The mining industry experienced a significant profit decline of 26.2%, totaling 83.45 billion yuan - The manufacturing sector saw a profit increase of 5.0%, amounting to 569.16 billion yuan - The electricity, heat, gas, and water production and supply industry reported a profit growth of 9.4%, reaching 87.21 billion yuan [1] Monthly Performance - In December, profits for industrial enterprises increased by 5.3% year-on-year [4] Financial Indicators - Total operating revenue for industrial enterprises was 139.20 trillion yuan, up 1.1% from the previous year - Operating costs amounted to 118.75 trillion yuan, increasing by 1.3% - The operating profit margin was 5.31%, a slight decrease of 0.03 percentage points from the previous year [2] Asset and Liability Overview - By the end of 2025, total assets of industrial enterprises reached 188.41 trillion yuan, growing by 4.3% - Total liabilities were 108.58 trillion yuan, up 4.2% - Total equity stood at 79.82 trillion yuan, reflecting a growth of 4.5% - The asset-liability ratio was 57.6%, a decrease of 0.1 percentage points [3] Accounts Receivable and Inventory - Accounts receivable totaled 27.43 trillion yuan, increasing by 4.7% - Finished goods inventory reached 6.73 trillion yuan, up 3.9% [3] Efficiency Metrics - The cost per 100 yuan of operating revenue was 85.31 yuan, an increase of 0.16 yuan - The average collection period for accounts receivable was 67.9 days, an increase of 3.6 days from the previous year [3]

国家统计局27日发布数据显示，2025年全国规模以上工业企业利润增长0.6%，其中装备制造业、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，工业经济发展向新向优。跟随海报，一起了解。 制造业增长5.0% 增速较2024年大幅回升8.9个百分点 电力、热力、燃气及水生产和供应业增长9.4% 权威数读 / 13 8 装备制造业为工业向优升级提供坚实支撑 规上装备制造业利润较上年增长7.7% 拉动全部规上工业企业利润增长2.8个百分点 是拉动作用最强的板块 8个大类行业中有7个行业利润较上年增长 权威数读 / 220 2013 高技术制造业为工业高质量发展注入强劲动力 规上高技术制造业利润较上年增长13.3% 高于全部规上工业12.7个百分点 智能无人飞行器制造、智能车载设备制造行业 利润分别增长102.0%、88.8% 集成电路制造行业利润增长172.6% 基因工程药物和疫苗制造行业利润增长72.7% 权威数读 / 传统产业提质升级不断壮大工业新动能 新质生产力发展成效继续显现 利润明显高于行业平均水平 生物化学农药及微生物农药制造行业利润 较上年增长20.7% 生物基化学纤维制造行业利润增长88 ...

Core Insights - In 2025, the total profit of industrial enterprises above designated size in China reached 73,982 billion yuan, marking a 0.6% increase from the previous year, reversing a three-year decline [1] - December 2025 saw a monthly profit increase of 5.3%, recovering from a 13.1% decline in November, representing an 18.4 percentage point rebound [1] Industry Performance - The mining industry reported a total profit of 8,345.1 billion yuan, a decrease of 26.2% year-on-year [3] - The manufacturing sector achieved a total profit of 56,915.7 billion yuan, reflecting a growth of 5.0% [3] - The electricity, heat, gas, and water production and supply industry recorded a profit of 8,721.2 billion yuan, with a growth of 9.4% [3] Sector-Specific Profit Growth - The black metal smelting and rolling processing industry saw profits increase by 3.0 times year-on-year [4] - The non-ferrous metal smelting and rolling processing industry grew by 22.6% [4] - The computer, communication, and other electronic equipment manufacturing industry experienced a profit increase of 19.5% [4] - The power and heat production and supply industry grew by 13.9% [4] - The specialized equipment manufacturing industry saw a profit increase of 5.7% [4] - The electrical machinery and equipment manufacturing industry grew by 4.9% [4] - The general equipment manufacturing industry increased by 4.2% [4] - The agricultural and sideline food processing industry grew by 3.2% [4] - The automotive manufacturing industry saw a slight profit increase of 0.6% [4] - The petroleum, coal, and other fuel processing industry reduced losses compared to the previous year [4] - The non-metallic mineral products industry declined by 1.7% [4] - The chemical raw materials and chemical products manufacturing industry decreased by 7.3% [4] - The textile industry saw a decline of 12.0% [4] - The oil and gas extraction industry decreased by 18.7% [4] - The coal mining and washing industry experienced a significant decline of 41.8% [4] Emerging Industry Trends - In 2025, the profit of the equipment manufacturing industry increased by 7.7%, contributing 2.8 percentage points to the overall profit growth of industrial enterprises [4] - The equipment manufacturing sector accounted for 39.8% of total industrial profits, an increase of 2.6 percentage points from the previous year [4] - The high-tech manufacturing sector's profits grew by 13.3%, surpassing the overall industrial profit growth by 12.7 percentage points [4] Traditional Industry Developments - Traditional industries showed significant profit growth, with the biochemical pesticide and microbial pesticide manufacturing industries growing by 20.7% and 15.2%, respectively, exceeding the average profit growth in the chemical industry [5] - In the chemical fiber and power industries, the bio-based chemical fiber manufacturing and biomass power generation industries saw profits increase by 88.6% and 47.9%, respectively, significantly above their respective industry averages [5] Overall Economic Outlook - The chief statistician of the National Bureau of Statistics indicated that overall profit growth in industrial enterprises is evident, supported by new industrial dynamics, while acknowledging challenges from external environmental changes and the need for continued technological and industrial innovation [5]

1月27日，国家统计局发布数据显示，2025年，全国规模以上工业企业实现利润总额73982.0亿元，比上年增长0.6%，扭转了连续三年下降态势。 单月来看，2025年12月份，规模以上工业企业当月利润由11月份下降13.1%转为增长5.3%，回升18.4个百分点。 需要注意的是，2025年，装备制造业、高技术制造业等新动能支撑作用明显。 其中，2025年，规模以上装备制造业利润较上年增长7.7%，拉动全部规模以上工业企业利润增长2.8个百分点，是对规模以上工业企业利润增长拉动作用最 强的板块。规模以上装备制造业利润占全部工业企业利润的比重达39.8%，较上年提高2.6个百分点，工业企业利润结构进一步优化。 各月累计营业收入与利润总额同比增速。（国家统计局/图） 2025年，规模以上高技术制造业利润较上年增长13.3%，高于全部规模以上工业12.7个百分点。 分三大门类看，2025年，采矿业实现利润总额8345.1亿元，比上年下降26.2%；制造业实现利润总额56915.7亿元，增长5.0%；电力、热力、燃气及水生产和 供应业实现利润总额8721.2亿元，增长9.4%。 另外，2025年，传统产业新质生产力发展 ...

Core Insights - National fixed asset investment (excluding rural households) in China for January to October 2025 reached 408.914 billion yuan, representing a year-on-year decline of 1.7% on a comparable basis [1] - Private fixed asset investment decreased by 4.5% year-on-year [1] Investment by Industry - Investment in the primary industry was 80.75 billion yuan, showing a year-on-year increase of 2.9% [1] - Investment in the secondary industry totaled 1,484.11 billion yuan, with a growth of 4.8% [1] - Investment in the tertiary industry fell by 5.3%, amounting to 2,524.29 billion yuan [1] - Within the secondary industry, industrial investment grew by 4.9%, with mining investment increasing by 3.8%, manufacturing investment rising by 2.7%, and investment in electricity, heat, gas, and water production and supply surging by 12.5% [1] - In the tertiary industry, infrastructure investment (excluding electricity, heat, gas, and water production and supply) saw a slight decline of 0.1% [1] - Notable growth in infrastructure investment included pipeline transportation (up 13.8%), water transportation (up 9.4%), and railway transportation (up 3.0%) [1] Regional Investment Trends - Eastern region investment decreased by 5.4% year-on-year [1] - Central region investment declined by 0.5% [1] - Western region investment increased by 0.4% [1] - Northeastern region investment experienced a significant drop of 11.7% [1] Investment by Registration Type - Domestic enterprise fixed asset investment fell by 1.7% year-on-year [1] - Investment from Hong Kong, Macau, and Taiwan enterprises decreased by 1.8% [1] - Foreign enterprise fixed asset investment saw a notable decline of 12.1% [1]

Group 1 - In 2025, China's industrial enterprises above designated size achieved a total profit of 73,982.0 billion RMB, marking a year-on-year increase of 0.6%, reversing a three-year decline trend [1] - The manufacturing sector saw a profit increase of 5.0% in 2025, a significant rebound of 8.9 percentage points compared to 2024 [1] - The electricity, heat, gas, and water production and supply industry experienced a profit growth of 9.4%, while the mining industry faced a decline of 26.2% [1] Group 2 - In December 2025, profits of industrial enterprises above designated size turned from a 13.1% year-on-year decline in November to a 5.3% increase, a recovery of 18.4 percentage points [1] - The equipment manufacturing sector's profits grew by 7.7% year-on-year, contributing 2.8 percentage points to the overall profit growth of industrial enterprises [1] - The share of equipment manufacturing profits in total industrial profits reached 39.8%, an increase of 2.6 percentage points from the previous year, indicating an optimization in profit structure [1] Group 3 - High-tech manufacturing profits increased by 13.3% year-on-year in 2025, surpassing the overall industrial average by 12.7 percentage points [2] - The semiconductor industry saw remarkable profit growth, with integrated circuit manufacturing up by 172.6%, semiconductor device manufacturing by 128.0%, and electronic components and electromechanical component manufacturing by 49.1% [2] - Profits of small and medium-sized enterprises, as well as foreign and Hong Kong, Macao, and Taiwan-invested enterprises, turned positive in 2025, with year-on-year growth of 1.4% and 4.2%, respectively [2]

Core Insights - In 2025, the total profit of industrial enterprises above designated size in China reached 73,982 billion yuan, marking a 0.6% increase from the previous year, reversing a three-year decline trend [1][2] Group 1: Profit Growth by Sector - The manufacturing sector saw a profit increase of 5.0%, rebounding significantly by 8.9 percentage points compared to 2024 [2] - The electricity, heat, gas, and water production and supply sector experienced a profit growth of 9.4% [2] - The mining sector, however, faced a decline of 26.2% in profits [2] Group 2: Profit Improvement Among Different Business Entities - In 2025, profits for small and medium-sized enterprises, as well as foreign and Hong Kong, Macao, and Taiwan-invested enterprises, turned positive, growing by 1.4% and 4.2% respectively, compared to declines of 1.9% and 1.7% in 2024 [4] - Profits for joint-stock enterprises and state-controlled enterprises showed significant improvement, with the decline narrowing by 3.5 percentage points and 0.7 percentage points respectively compared to the previous year [4] Group 3: Contribution of New Growth Drivers - The equipment manufacturing sector contributed significantly to profit growth, with a 7.7% increase in profits, driving an overall profit increase of 2.8 percentage points for all industrial enterprises [5] - The share of equipment manufacturing profits in total industrial profits rose to 39.8%, an increase of 2.6 percentage points from the previous year [5] - High-tech manufacturing profits surged by 13.3%, outperforming the overall industrial profit growth by 12.7 percentage points, with smart electronic products leading to a 48% profit increase in the smart consumer device manufacturing sector [5] Group 4: Traditional Industries Upgrading - Traditional industries showed significant improvements, with profits in the biochemical pesticide and microbial pesticide manufacturing sectors growing by 20.7% and 15.2% respectively, exceeding the average profit growth in the chemical industry by 28 percentage points and 22.5 percentage points [6]

2025年全国规模以上工业企业利润增长0.6% 国家统计局数据显示，2025年，全国规模以上工业企业实现利润总额73982.0亿元，比上年增长0.6%。2025年，规模以上工业企业中，国有控股企业实现利 润总额20561.0亿元，比上年下降3.9%；股份制企业实现利润总额55408.3亿元，下降0.1%；外商及港澳台投资企业实现利润总额17447.4亿元，增长4.2%；私 营企业实现利润总额22810.6亿元，与上年持平。 国家统计局工业司首席统计师于卫宁解读2025年工业企业利润数据。 2025年，全国规模以上工业企业实现利润总额73982.0亿元，比上年增长0.6%（按可比口径计算，详见附注二）。 2025年，规模以上工业企业中，国有控股企业实现利润总额20561.0亿元，比上年下降3.9%；股份制企业实现利润总额55408.3亿元，下降0.1%；外商及港澳 台投资企业实现利润总额17447.4亿元，增长4.2%；私营企业实现利润总额22810.6亿元，与上年持平。 2025年，采矿业实现利润总额8345.1亿元，比上年下降26.2%；制造业实现利润总额56915.7亿元，增长5.0%；电力、热力、燃气及 ...

Core Insights - In 2025, the total profit of industrial enterprises above designated size reached 739.82 billion yuan, an increase of 0.6% compared to the previous year [1] - The profit distribution among different types of enterprises showed a decline in state-owned enterprises and joint-stock enterprises, while foreign and private enterprises experienced growth or stability [1][2] Financial Performance - The total operating revenue for industrial enterprises was 13.92 trillion yuan, reflecting a growth of 1.1% year-on-year, while operating costs increased by 1.3% to 11.88 trillion yuan [2][10] - The profit margin for operating revenue was 5.31%, a slight decrease of 0.03 percentage points from the previous year [2][10] Industry-Specific Performance - The mining industry saw a significant profit decline of 26.2%, while the manufacturing sector experienced a profit increase of 5.0% [1][2] - Notable growth was observed in the black metal smelting and rolling industry, which saw profits increase by 3.0 times, and the computer, communication, and other electronic equipment manufacturing industry, which grew by 19.5% [2][10] Asset and Liability Overview - By the end of 2025, total assets of industrial enterprises amounted to 188.41 trillion yuan, up 4.3% year-on-year, while total liabilities reached 108.58 trillion yuan, an increase of 4.2% [2][10] - The equity of owners totaled 79.82 trillion yuan, reflecting a growth of 4.5%, with an asset-liability ratio of 57.6%, down by 0.1 percentage points [2][10] Accounts Receivable and Inventory - Accounts receivable stood at 27.43 trillion yuan, up 4.7% from the previous year, while finished goods inventory increased by 3.9% to 6.73 trillion yuan [3] - The average collection period for accounts receivable was 67.9 days, an increase of 3.6 days compared to the previous year [3]

2025年末，规模以上工业企业资产总计188.41万亿元，比上年末增长4.3%；负债合计108.58万亿元，增 长4.2%；所有者权益合计79.82万亿元，增长4.5%；资产负债率为57.6%，比上年末下降0.1个百分点。 2025年末，规模以上工业企业应收账款27.43万亿元，比上年末增长4.7%；产成品存货6.73万亿元，增 长3.9%。 2025年，规模以上工业企业每百元营业收入中的成本为85.31元，比上年增加0.16元；每百元营业收入中 的费用为8.62元，比上年减少0.02元。 国家统计局1月27日发布数据显示 ，2025年，全国规模以上工业企业实现利润总额73982.0亿元，比上年 增长0.6%。 2025年，规模以上工业企业中，国有控股企业实现利润总额20561.0亿元，比上年下降3.9%；股份制企 业实现利润总额55408.3亿元，下降0.1%；外商及港澳台投资企业实现利润总额17447.4亿元，增长 4.2%；私营企业实现利润总额22810.6亿元，与上年持平。 2025年，采矿业实现利润总额8345.1亿元，比上年下降26.2%；制造业实现利润总额56915.7亿元，增长 5.0%；电力 ...