Industrial profits grew faster in the first two months of 2010
Profits in the nonferrous metals, metallurgical, electronics, petrochemical and coal industries rebounded and accelerated. In January-February, the non-ferrous metals industry realized a profit of 18.9 billion yuan, an increase of 18.2 billion yuan over the same period of last year, an increase of 28.7 times (down 99.5% in January-February 2009). The metallurgical industry realized a profit of 29.8 billion yuan, a year-on-year increase of 25.5 billion yuan, a six-fold increase (down 90.1% in January-February 2009). The electronics industry realized a profit of 16.4 billion yuan, an increase of 13.9 billion yuan year-on-year, an increase of 5.6 times (down 96.3% in January-February 2009). The petrochemical industry realized a profit of 91.6 billion yuan, a year-on-year increase of 59.1 billion yuan, an increase of 1.8 times (down 57.3% in January-February 2009); among them, the chemical industry realized a profit of 31 billion yuan, a 2.2-fold increase (down 55.5% in the same period last year). The coal industry realized a profit of 39.4 billion yuan, an increase of 1.9 times (up 15% in January-February 2009).
The profit of the power industry continued to grow rapidly, and the profit decline of the tobacco industry narrowed. In January-February, the power industry realized a profit of 15.6 billion yuan, an increase of 13.2 billion yuan over the same period of last year, an increase of 5.5 times (down 61.9% in the same period last year). The tobacco industry realized a profit of 17.4 billion yuan, down 12.1% year-on-year (up 13.8% in the same period last year).
The profits of machinery, building materials, textiles, light industry and pharmaceutical industry maintained rapid growth. The machinery industry realized a profit of 108 billion yuan, a year-on-year increase of 1.3 times (down 24.3% in the same period last year); among them, the automobile industry realized a profit of 47.8 billion yuan, a 4.1-fold increase (down 51.6% in the same period last year). The profits from the building materials, textile and light industry sectors were 18.8 billion yuan, 22.3 billion yuan and 84.2 billion yuan, respectively, up 97.9%, 71.6% and 54.6% (down 0.5%, 9.5% and 4.2% respectively in the same period last year). The pharmaceutical industry realized a profit of 15.9 billion yuan, a year-on-year increase of 40.4%, an increase of 18 percentage points.
The loss of the company continued to narrow. In January-February, the loss of industrial enterprises above designated size was 19.6%, down 5.7 percentage points year-on-year; the loss of loss-making enterprises was 77.9 billion yuan, down 42.8% year-on-year (up 36.6% in January-February 2009).
The capital occupation of finished products increased from decline to increase, and the increase in accounts receivable increased. At the end of February, inventory funds occupied 5.3 trillion yuan, a year-on-year increase of 21.5%; of which finished products were 1.97 trillion yuan, a year-on-year increase of 5.2%, an increase of 6.5 percentage points. Accounts receivable was 4.9 trillion yuan, an increase of 24.8%, an increase of 17.5 percentage points year-on-year.