2025 年 11 月份，全国工业生产者出厂价格同比下降 2.2% ，工业生产者购进价格同比 下降 2.5% ；工业生产者出厂价格和购进价格环比均上涨 0.1% ，涨幅均与上月相同。 1 — 11 月平均，工业生产者出厂价格比上年同期下降 2.7% ，工业生产者购进价格下降 3.1% 一、工业生产者价格同比变动情况 11 月份，工业生产者出厂价格中，生产资料价格下降 2.4% ，影响工业生产者出厂价格 总水平下降约 1.79 个百分点。其中，采掘工业价格下降 6.1% ，原材料工业价格下降 2.9% ，加工工业价格下降 1.9% 。生活资料价格下降 1.5% ，影响工业生产者出厂价格总水平下 降约 0.38 个百分点。其中，食品价格下降 1.5% ，衣着价格下降 0.3% ，一般日用品价格 上涨 1.1% ，耐用消费品价格下降 3.6% 。 。 工业生产者购进价格中，燃料动力类价格下降 6.9% ，建筑材料及非金属类价格下降 5.8% ，化工原料类价格下降 5.0% ，农副产品类价格下降 4.9% ，黑色金属材料类价格下 降 3.0% ，纺织原料类价格下降 1.9% ；有色金属材料及电线类价格上涨 8.1% ...

智通财经APP获悉，12月10日，据国家统计局，2025年11月份，全国工业生产者出厂价格同比下降2.2%，工业生产者购进价格同比下降2.5%；工业生产者出 厂价格和购进价格环比均上涨0.1%，涨幅均与上月相同。1—11月平均，工业生产者出厂价格比上年同期下降2.7%，工业生产者购进价格下降3.1%。 工业生产者购进价格中，燃料动力类价格下降6.9%，建筑材料及非金属类价格下降5.8%，化工原料类价格下降5.0%，农副产品类价格下降4.9%，黑色金属 材料类价格下降3.0%，纺织原料类价格下降1.9%;有色金属材料及电线类价格上涨8.1%。 二、工业生产者价格环比变动情况 11月份，工业生产者出厂价格中，生产资料价格上涨0.1%，影响工业生产者出厂价格总水平上涨约0.08个百分点。其中，采掘工业价格上涨1.7%，原材料工 业价格下降0.2%，加工工业价格上涨0.1%。生活资料价格持平。其中，食品价格下降0.1%，衣着价格上涨0.1%，一般日用品价格上涨0.2%，耐用消费品价 格下降0.2%。 工业生产者购进价格中，有色金属材料及电线类价格上涨1.8%，建筑材料及非金属类价格上涨0.2%，燃料动力类价格上涨0. ...

Core Insights - In October 2025, the national industrial producer's ex-factory prices decreased by 2.1% year-on-year, with the decline narrowing by 0.2 percentage points compared to the previous month, while month-on-month, it shifted from flat to an increase of 0.1% [1] - The average industrial producer's ex-factory prices from January to October 2025 fell by 2.7% year-on-year, and the industrial producer's purchase prices decreased by 3.2% [1] Year-on-Year Changes - In October, the prices of production materials dropped by 2.4%, contributing approximately 1.77 percentage points to the overall decline in industrial producer's ex-factory prices. The mining industry saw a price drop of 7.8%, raw materials decreased by 2.5%, and processing industry prices fell by 1.9% [3] - Consumer goods prices decreased by 1.4%, impacting the overall industrial producer's ex-factory prices by about 0.36 percentage points. Food prices fell by 1.6%, while clothing prices decreased by 0.3% [3] Month-on-Month Changes - In October, the prices of production materials increased by 0.1%, contributing approximately 0.08 percentage points to the overall rise in industrial producer's ex-factory prices. The mining industry prices rose by 1.0%, while raw materials remained flat, and processing industry prices increased by 0.1% [8] - Consumer goods prices remained stable, with food and clothing prices each declining by 0.1%, while general daily goods prices increased by 0.7% [8] Price Changes by Category - In the industrial producer's purchase prices, fuel and power prices decreased by 7.4%, agricultural and sideline products fell by 5.2%, and chemical raw materials dropped by 5.0%. However, prices for non-ferrous metal materials and wires increased by 7.5% [7] - The main industry price changes included a 1.6% increase in coal mining and washing, a 5.3% increase in non-ferrous metal mining, and a 2.4% increase in the non-ferrous metal smelting and rolling industry [11][12]

Core Insights - From January to August, the total profit of industrial enterprises above designated size in China reached 46,929.7 billion yuan, reflecting a year-on-year increase of 0.9% [1] Group 1: Profit by Ownership Type - State-owned enterprises achieved a total profit of 15,156.5 billion yuan, a year-on-year decrease of 1.7% [1] - Joint-stock enterprises reported a total profit of 34,931.9 billion yuan, marking a growth of 1.1% [1] - Foreign and Hong Kong, Macao, and Taiwan-invested enterprises realized a total profit of 11,723.6 billion yuan, up by 0.9% [1] - Private enterprises recorded a total profit of 13,076.1 billion yuan, showing an increase of 3.3% [1] Group 2: Profit by Industry - The mining industry saw a total profit of 5,661.1 billion yuan, down by 30.6% year-on-year [1] - The manufacturing sector achieved a total profit of 35,233.5 billion yuan, reflecting a growth of 7.4% [1] - The electricity, heat, gas, and water production and supply industry reported a total profit of 6,035.1 billion yuan, increasing by 9.4% [1] Group 3: Major Industry Profit Changes - The electricity and heat production and supply industry experienced a profit increase of 13.0% [2] - The non-ferrous metal smelting and rolling processing industry grew by 12.7% [2] - The agricultural and sideline food processing industry saw an 11.8% increase [2] - The electrical machinery and equipment manufacturing industry grew by 11.5% [2] - The computer, communication, and other electronic equipment manufacturing industry increased by 7.2% [2] - The automotive manufacturing industry faced a slight decline of 0.3% [2] - The coal mining and washing industry suffered a significant profit drop of 53.6% [3]

Core Viewpoint - The "ESG Action Group" data platform has updated its ESG rating data for 2024, reflecting the growing importance of ESG factors in investment decisions and corporate governance [1] Group 1: ESG Ratings Overview - The number of A-share listed companies included in the ESG ratings has increased to 5,354 from 5,330 last year, covering major exchanges in Shanghai, Shenzhen, and Beijing [2] - The average ESG scores for the top five industries are in insurance, catering, construction installation, postal services, and black metal mining [2][5] - The average ESG scores for listed companies in Beijing, Tianjin, Ningxia, Shanghai, and Hainan rank highest among regions, with scores of 59.03, 57.96, 55.84, 54.34, and 53.93 respectively [7] Group 2: Industry and Regional Insights - The analysis indicates that industries with fewer listed companies may show inflated ESG scores due to the "head effect" from top-performing firms [6] - Industries such as ecological protection, power production, and waste resource utilization have high average ESG scores when excluding smaller sample sizes [6] - The ranking of listed companies by ESG scores has changed slightly, with local governments increasingly prioritizing sustainable development through policy initiatives [7] Group 3: Corporate Nature and Board Performance - The ranking of ESG scores by corporate nature is led by central state-owned enterprises, followed by other enterprises, local state-owned enterprises, public enterprises, collective enterprises, foreign enterprises, and private enterprises [8] - The scoring order by listing board remains consistent with last year, with the Sci-Tech Innovation Board leading, followed by the Main Board, Growth Enterprise Market, and North Exchange Market [8] Group 4: Regulatory and Market Developments - The regulatory focus on enhancing ESG rating capabilities in China's capital market has intensified, with the Shanghai Stock Exchange implementing a special action plan to improve ESG ratings [12] - By the end of 2024, 342 listed companies in Shanghai are expected to be included in the MSCI ESG ratings, with 100 companies achieving upgrades in their latest ratings [12] - The action plan emphasizes the importance of both international and domestic ESG rating systems, advocating for a dual benchmarking approach for companies [13]