From January to August 2022, the profit of China's packaging industry fell by 6.3% year-on-year

Recently, the website of the National Bureau of Statistics of China released the profits of industrial enterprises above designated size in the country from January to August 2022. During the same period, Zhu Hong, senior statistician of the Industrial Department of the National Bureau of Statistics, interpreted the data.

Data show that from January to August, the total profits of industrial enterprises above designated size nationwide were 5.53 trillion yuan, down 2.1% year-on-year.

From January to August, among the 41 major industrial sectors, the total profit of 16 industries increased year-on-year, and 25 industries declined.

At the end of August, the assets of industrial enterprises above designated size totaled US$15.99 trillion, a year-on-year increase of 9.6%; liabilities totaled US$8.56 trillion, an increase of 10.0%; owners' equity totaled US$6.53 trillion, an increase of 9.2%; the asset-liability ratio was 56.8%. A year-on-year increase of 0.2 percentage points.

From January to August, the cost per 100 yuan of operating income of industrial enterprises above designated size was 84.83 yuan, a year-on-year increase of 1.04 yuan; the cost per 100 yuan of operating income was 7.91 yuan, a year-on-year decrease of 0.51 yuan.

At the end of August, the operating income per 100 yuan of assets of industrial enterprises above designated size was US$29.9, a year-on-year decrease of US$1.4; the per capita operating income was US$10,200, an increase of US$10,300 year-on-year; the inventory turnover days of finished products was 18.3 days, an increase of 0.8 year-on-year. days; the average collection period of accounts receivable was 54.4 days, an increase of 2.9 days year-on-year.

The changes in the profits of packaging manufacturing enterprises from January to August show the following main characteristics:

1. The revenue of industrial packaging manufacturing enterprises has maintained growth, and the profit structure has improved. With the decline in the price increase of some bulk commodities, the upstream and downstream profit structure of industrial enterprises has improved significantly. The profit decline of equipment manufacturing industry has narrowed for 4 consecutive months, and the profit of the power industry has continued to rebound. From August, among the 41 major industrial sectors, 27 industries saw faster or narrower profit growth compared with the previous month, from decline to increase, accounting for over 60% of the total, most of which were mid- and downstream industries.

2. The decline in profits of the packaging equipment manufacturing industry has narrowed significantly, and the proportion of profits has increased. With the further smoothness of the industrial chain and supply chain, the profit growth of the equipment manufacturing industry has recovered significantly. From January to August, the profits of the equipment manufacturing industry decreased by 2.0% year-on-year, 3.7 percentage points lower than that from January to July, and the proportion of profits in industries above designated size increased by about 5.0 percentage points from the beginning of the year.

3. The profit of the power industry has improved significantly. The continuous recovery of industrial production and the impact of high temperature weather have led to strong demand for electricity, and the growth rate of power generation has accelerated month by month and reached the highest level in recent years, driving the rapid recovery of profits in the power industry. In August, the profit of the power industry increased by 1.58 times year-on-year, and the growth rate was 111.8 percentage points higher than that of the previous month.

4. The profitability of the FMCG packaging manufacturing industry has improved. With the continuous release of the effects of consumption-promoting policies, market demand has rebounded, and profits of most consumer goods industries have improved. In August, the year-on-year decline in the profits of the consumer goods manufacturing industry narrowed significantly compared with the previous month, and the profit situation improved.