On August 1st, the Anhui Provincial Bureau of Statistics reported that in the first half of the year, as various macroeconomic policies were effectively implemented, the province's industrial sector not only maintained rapid production growth but also saw continuous improvement in corporate profitability, with industrial profits sustaining double-digit growth.

In the first half of the year, the profits of industrial enterprises above the designated size in the province increased by 21.1% year-on-year, 17.6 percentage points higher than the national average. This marks the 15th consecutive month that Anhui's growth rate has exceeded the national average, ranking 6th nationwide, 1st in the Yangtze River Delta, and 3rd in the central region. In June, profits grew by 25.5%, an increase of 13.7 percentage points from May, and 21.9 percentage points higher than the national average.

Over 60% of Industries See Profit Growth

In the first half of the year, out of 41 major industrial categories in the province, 26 saw year-on-year profit growth, with the growth coverage rate reaching 63.4%, a 4.9 percentage point increase from the first quarter. By sector, manufacturing profits grew by 29.3%, contributing 102.5% to the total profit growth of industrial enterprises above the designated size.

Equipment Manufacturing Drives Profit Growth

In the first half of the year, the profits of the equipment manufacturing industry grew by 51.6%, 30.5 percentage points higher than the province's overall industrial enterprises above the designated size. This sector contributed 79.7% to the profit growth, an increase of 10 percentage points from the first quarter, with its total profit share of the province's above-scale industrial enterprises rising from 32.5% in the same period last year to 40.7%. By industry, the rapid production growth of products like automobiles, integrated circuits, LCD displays, and optoelectronic devices significantly boosted profits, with the automotive manufacturing industry seeing a 2.8-fold increase in profits.

Reduced Unit Costs and Improved Profitability

In the first half of the year, the operating income of industrial enterprises above the designated size in the province grew by 7.8% year-on-year, 4.9 percentage points higher than the national average. The cost per 100 yuan of operating income was 86.95 yuan, a year-on-year decrease of 0.23 yuan, marking the seventh consecutive month of decline. The profit margin on operating income was 4.57%, a year-on-year increase of 0.5 percentage points and a 0.41 percentage point increase from the first quarter.

Source: anhuinews.com