Ministry of Finance: Total profits of state-owned enterprises increased by 12.9percent in 2018 by 3.39 trillion yuan compared with the same period last year.

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 Ministry of Finance: Total profits of state-owned enterprises increased by 12.9percent in 2018 by 3.39 trillion yuan compared with the same period last year.


(1) Total operating income. From January to December, the total operating income of state-owned enterprises was 587.57 billion yuan, an increase of 10.0% over the same period of last year. (1) Central enterprises reached 3387.18 billion yuan, an increase of 9.8% over the same period of last year. (2) Local state-owned enterprises totaled 2487.89 billion yuan, an increase of 10.4% over the same period last year.

(2) Total operating cost. From January to December, the total operating cost of state-owned enterprises was 57043.19 billion yuan, an increase of 9.8% over the same period of last year. Sales, management and financial expenses increased by 6.6%, 9.5% and 13.4% respectively. (1) Central enterprises reached 3257.986 billion yuan, an increase of 9.6% over the same period of last year, of which sales, management and financial expenses increased by 5.7%, 9.6% and 10.5% respectively. (2) Local state-owned enterprises (SOEs) accounted for 2446.33 billion yuan, an increase of 10.1% over the previous year, of which sales, management and financial expenses increased by 7.9%, 9.5% and 15.8% respectively.

(3) Achieving profits. From January to December, the total profit of state-owned enterprises was 3387.77 billion yuan, an increase of 12.9% over the same period last year. (1) The central enterprises reached 2039.91 billion yuan, an increase of 12.7% over the same period last year. (2) 1347.86 billion yuan of local state-owned enterprises, an increase of 13.2% over the same period of last year.

(4) Net profit after tax. From January to December, the net after-tax profit of state-owned enterprises was 2465.37 billion yuan, an increase of 12.1%. The net profit attributable to the owner of the parent company was 153.16 billion yuan, an increase of 10.1%. (1) Central enterprises totaled 1458.34 billion yuan, an increase of 11.8%. (2) Local state-owned enterprises (SOEs) reached 107.03 billion yuan, an increase of 12.8%.

(5) Tax payable. From January to December, the tax payable by state-owned enterprises was 4608.97 billion yuan, an increase of 3.3% over the same period last year. (1) The central enterprises reached 3240.93 billion yuan, an increase of 3.5% over the same period last year. (2) The number of local state-owned enterprises was 1368.04 billion yuan, an increase of 2.8% over the same period last year.

(6) Assets, liabilities and ownersequity. At the end of December, the total assets of state-owned enterprises amounted to 1787,482.9 billion yuan, an increase of 8.4% over the same period last year; the total liabilities amounted to 1156,474.8 billion yuan, an increase of 8.1% over the same period last year; and the total owners equity amounted to 6310,810 million yuan, an increase of 9.0% over the same period last year. (1) The total assets of central enterprises are 80339.17 billion yuan, an increase of 6.7%, the total liabilities are 5439.086 billion yuan, an increase of 6.3%, and the total owners equity is 2594.83 billion yuan, an increase of 7.5%. (2) The total assets of local state-owned enterprises are 98409.12 billion yuan, an increase of 9.8% over the same period of last year; the total liabilities are 61256.62 billion yuan, an increase of 9.6% over the same period of last year; and the total owners equity is 3715.25 billion yuan, an increase of 10.1% over the same period of last year.

(7) Return on net assets. From January to December, the return on net assets of state-owned enterprises was 3.9%, up 0.1 percentage points. (1) Central enterprises increased by 0.2 percentage points by 5.6%. (2) Local state-owned enterprises increased by 0.1 percentage points, by 2.7%.

(8) Asset-liability ratio. At the end of December, the asset-liability ratio of state-owned enterprises was 64.7%, down by 0.2 percentage points. (1) 67.7% of central enterprises, down by 0.3 percentage points. (2) 62.3% of the local state-owned enterprises, down by 0.1 percentage points.

II. Profits of Major Industries

From January to December, the profits of petroleum, petrochemical, steel and other industries increased significantly year-on-year, higher than the growth rate of income.

Note: 1. The state-owned and state-owned holding enterprises mentioned in this months report, including those under the central administration, enterprises affiliated to central departments and units, as well as local state-owned and state-owned holding enterprises in 36 provinces (autonomous regions, municipalities directly under the Central Government and cities with separate plans), do not include state-owned first-class financial enterprises.

(2) Owing to the objective factors such as the change of enterprisesgrowth and decrease and the change of stock rights, the enterprises that are included in the aggregate scope of state-owned and state-owned holding enterprises are not identical in different periods. Relevant data of year-on-year growth reported in this month are calculated by comparing the current years data of enterprises in this period with the same period data of the same caliber last year.

Source: Responsible Editor of Ministry of Finance Website: Zhong Qiming_NF5619