In May, the profit decline of industrial enterprises will narrow the experts. Experts are expected to show up in June

Author:Securities daily Time:2022.06.28

On June 27, the National Bureau of Statistics released data showing that from January to May, the total profit of industrial enterprises above designated size achieved a total profit of 344.10 billion yuan, an increase of 1.0%year-on-year. In May, the profit of industrial enterprises above designated size decreased by 6.5%year -on -year, a narrowing of 2.0 percentage points from the previous month.

"In May, various regions and departments efficiently coordinated the prevention and control of the epidemic and economic and social development. The domestic epidemic prevention and control situation gradually improved. The decline in profits is narrowed. "Zhu Hong, senior statistician of the Department of Industry of the National Bureau of Statistics, said.

The decline in profit decline in industrial enterprises narrowed

Zhu Hong said that in May, the profits of industrial enterprises above designated size decreased by 6.5%year -on -year, and the decrease was narrowed by 2.0 percentage points from the previous month. From the perspective of the category, the profit of mining industry increased by 92.2%year -on -year, continuing the rapid growth trend; the profit of manufacturing decreased by 18.5%, a decrease of 3.9 percentage points from the previous month; The decline was significantly narrowed. From the perspective of the branch industry, among the 41 industrial industries, the profit of 20 industries has accelerated or narrowed from the previous month.

Among them, the profit decline in industrial enterprises in the Yangtze River Delta and Northeast China has narrowed significantly. In May, with the continued advancement of enterprises and re -production, although the profit of industrial enterprises in the Yangtze River Delta and the Northeast region decreased year -on -year, the decline was significantly narrowed from the previous month. Among them, Shanghai, Jiangsu, Jilin, and Liaoning have decreased by more than 20 percentage points from last month.

Zhou Maohua, a macro researcher at the Everbright Bank Financial Market Department, said in an interview with the Securities Daily that the decline in the decline in industrial enterprises in May in May reflects the gradual improvement of industrial enterprises' operating conditions. It is mainly promoted by several factors: First, demand demand Return to drive. In May, the influence of the exfoliating epidemic in China was weakened, and the demand recovery drove the sales of industrial enterprises to restore the sales; the second was the price factor. Energy and industrial raw materials have maintained a high level, and the profit growth of the upstream departments continues to be strong; the third is that the operating cost of the enterprise is reduced. A package of domestic reasons to help enterprises' bailout policies, effectively reduce the financial burden on enterprises, relieve cash flow pressure, and effectively stabilize the normal operation of industrial enterprises.

The profit of industrial enterprises above designated size in the first five months of this year increased by 1.0%year -on -year, and the year -on -year increase fell from the previous value. Zheng Houcheng, director of the Institute of British Securities Research Institute, told a reporter from the Securities Daily that the total value -added of industrial added value above the scale of the first five months and the PPI cumulative decline in the year -on -year. The profit of industrial enterprises above the first five months has declined year -on -year on the basis of the previous value.

Industrial profits will improve steadily year -on -year

"Overall, despite some positive changes in the benefits of industrial enterprises, the profit of industrial enterprises continued to decline year -on -year in May, the pressure of corporate costs was still greater, production and operation still faced many difficulties, and the foundation of the recovery of industrial enterprises was not firm. The international situation is more complicated and severe, and there are still more uncertainty in the recovery of industrial enterprise benefits. In the next stage, we must resolutely implement the decision -making and deployment of the Party Central Committee and the State Council, efficiently coordinate the prevention and control of the epidemic and the development of economic and social development, and implement the industrial economy. Policies and measures help enterprises to relieve difficulties and promote the continuous and stable recovery of the industrial economy. "Zhu Hong said.

Xu Xiaolan, deputy minister of the Ministry of Industry and Information Technology, stated at the press conference on May 31 that he took the opportunity to promote the implementation of a package of policy measures and measures as an opportunity to fully boost the rise and recovery of the industrial economy and provide solid support for the stabilization of the economic market. The first is to ensure that the supply chain of the key industry chain is smooth and stable. The second is to implement the policies and measures with greater efforts, and to form a large effect of policy superposition to ensure that enterprises should enjoy it. The third is to expand investment and consumption.

Looking forward to the profit of industrial enterprises in June, Zhou Maohua said that industrial profits will improve steadily year -on -year. The profit performance of industrial enterprises is mainly affected by factors such as market demand, operating costs, and supply chains. From the perspective of trends, domestic economic activities have accelerated to recover, and multi -departments have cooperated with the protection of logistics and industrial chains and supply chains. At the same time, domestic issuance of commodity guarantees for stability and financial support policies can effectively reduce the financial burden on enterprises, alleviating the pressure of industrial enterprises. The overall output, sales and profits of the industrial sector are expected to show a rebound trend.

"The price of international commodities shows a high decline, and the effect of domestic supply and stable measures continues to appear. PPI and CPI have narrowed the scissors year -on -year, and the profitability of the middle and lower reaches will gradually improve. The level of normal years still takes some time, and domestic and lower reaches of domestic and lower reaches still face certain pressure. "Zhou Maohua said.

Zheng Houcheng predicts that the profit of industrial enterprises in June is up to May up in May. According to his analysis, in terms of quantity, international oil prices are difficult to rise sharply. In terms of price, in the context of the high probability that the PPI of the PPI in June in June in June, the PPI of the PPI in June in June, the PPI in June, was expected to be based on the basis of the year -on -year month -on -year PPI in June. Up and down. In terms of profit margins, the cumulative rate of profit margins of industrial enterprises is up to May. In terms of base effects, the total profit of the foundation of the base in June was year -on -year.

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