Data released by the National Bureau of Statistics on the 27th showed that from January to November, industrial enterprises above designated size nationwide achieved a total profit of 6.62686 trillion yuan, marking a 0.1% year-on-year increase. This marks the fourth consecutive month of cumulative growth since August this year.

Data indicates that the equipment manufacturing sector played a significant role in driving profits. From January to November, profits in the equipment manufacturing sector grew by 7.7% year-on-year, contributing 2.8 percentage points to the overall profit growth of industrial enterprises above designated size. This sector emerged as the strongest contributor to profit growth among industrial enterprises above designated size. By industry, seven out of eight major categories within the equipment manufacturing sector recorded year-on-year profit growth.

Profit growth in high-tech manufacturing accelerated. From January to November, profits in high-tech manufacturing above designated size grew by 10.0% year-on-year, accelerating by 2.0 percentage points compared to January-October and exceeding the average growth rate of all industrial enterprises above designated size by 9.9 percentage points. By industry, the deepening implementation of the “AI Plus” initiative drove favorable profit trends in related equipment manufacturing sectors. Profits in the electronic industrial equipment manufacturing sector grew by 57.4% year-on-year. Rapid development in the aerospace industry fueled faster profit growth, with profits in the aircraft, spacecraft, and equipment manufacturing sector rising by 13.3% year-on-year. Intelligent products supported digital and intelligent transformation, leading to a 54.0% year-on-year increase in profits for the smart consumer equipment manufacturing sector.

Raw materials manufacturing saw relatively rapid profit growth. From January to November, profits in raw materials manufacturing above designated size grew rapidly, with a year-on-year increase of 16.6%, contributing 2.0 percentage points to the overall profit growth of industrial enterprises above designated size. By industry, the steel sector has seen a marked improvement in profitability this year, combined with a low base effect, resulting in a significant year-on-year increase in profits. Driven by increased market demand and rapid revenue growth, the nonferrous metals industry maintained double-digit profit growth.

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