27 December 2025 | 3:49PM HKT Economics Research China: Both industrial profits and revenue edged up sequentially in November; December PMI preview Bottom line: Industrial profits: -13.0% yoy in November (sequential growth: +0.3% non-annualized, seasonally adjusted by GS); October: -8.9% yoy (sequential growth: -8.6% sa non-annualized). Industrial revenue: -0.4% yoy in November (sequential growth: +4.4% non-annualized, seasonally adjusted by GS); October: -4.0% yoy (sequential growth: -5.6% sa non-annualize ...