27 October 2025 | 10:43AM HKT Economics Research China: Industrial profits fell sequentially in September Bottom line: China's industrial profits and revenue increased by 23.0% yoy and 3.3% yoy, respectively, in September (vs. +18.8% yoy and +2.3% yoy in August). In sequential terms, industrial profits fell by 8.5% sa non-annualized (vs. +7.6% in August), while revenue rose by 1.0% sa non-annualized (vs. +0.1% in August). Key numbers: Main points: Industrial revenue: +3.3% yoy in September (sequential growt ...