In the first two months, the profits of industrial enterprises above designated size increased by 16.1%.

On March 27th, the financial data of industrial enterprises released by the National Bureau of Statistics showed that from January to February 2018, the profits of industrial enterprises above designated size increased by 16.1% year-on-year, and the growth rate was 5.3 percentage points faster than that in December 2017. Growth momentum. Dr. He Ping from the Industry Department of the National Bureau of Statistics said yesterday that in the first two months, industrial income started to improve, corporate profit growth accelerated, corporate profitability increased, asset use efficiency improved, supply-side structural reform continued to advance, and leverage and cost reduction were achieved. Continue to appear. The industries that have accelerated the growth of profit growth are: non-metallic mineral products industry profits increased by 56.8% year-on-year, oil, coal and other fuel processing industries increased by 17.6%, oil and gas extraction industry increased by 1.38 times, electricity, heat production and supply industry The growth rate was 38.3%, and the pharmaceutical manufacturing industry grew by 37.3%. These five industries together boosted profit growth by 8.4 percentage points. He Ping said that from the data point of view, while the profit of industrial enterprises maintained rapid growth, the quality of operation continued to improve. Profitability continued to increase. From January to February, the profit margin of the main business of industrial enterprises above designated size was 6.1%, an increase of 0.33 percentage points year-on-year. The efficiency of funds continued to improve. At the end of February, the inventory turnover days of finished products of industrial enterprises above designated size were 17.4 days, a decrease of 0.2 days compared with the same period of last year. The average payback period of accounts receivable was 47.4 days, a decrease of 0.2 days. In addition, at the end of February, the asset-liability ratio of industrial enterprises above designated size was 56.3%, down 0.8 percentage points year-on-year. Among them, the asset-liability ratio of state-owned holding companies was 59.6%, a decrease of 1.4 percentage points year-on-year. Leverage continues to fall and costs continue to fall. From January to February, the cost per 100 yuan of main business income of industrial enterprises above designated size was 92.4 yuan, a decrease of 0.27 yuan year-on-year; among them, the cost per 100 yuan of main business income was 83.98 yuan, a decrease of 0.33 yuan year-on-year. . The chief researcher of fixed income of CITIC Securities, Ming Ming, said in an interview with the Securities Daily yesterday that at the beginning of 2018, the profit growth rate of industrial enterprises above designated size was stable. From the cumulative year-on-year, the growth rate of profits declined, which was a high base and festival. The combination of factors such as factors, seasonal factors and environmentally limited production. Li Huiyong, chief macro analyst of Shenwan Hongyuan Securities Research Institute, told the Securities Daily that it is expected that corporate earnings will maintain rapid growth in 2018. Looking forward to 2018, industrial added value is expected to increase by about 6.4%, PPI will increase by about 3.5%, and revenue profit rate is expected to continue to improve. In 2018, industrial enterprise earnings are expected to achieve rapid growth of 13% to 14%. The narrowing of the scissors difference between PPI and CPI makes the profit distribution more biased to the middle and lower reaches.

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