China Industrial Enterprise Profits Rise 15.5 Percent Through September

Xinhua News Agency reported National Bureau of Statistics data showing that industrial enterprises above designated size nationwide achieved a 15.5 percent year-on-year profit increase from January through September, sustaining double-digit growth this year. Electronics expanded strongly with profits rising by 1 fold, contributing 9.6 percentage points to total profit growth among major industrial firms, while semiconductor discrete device manufacturing saw profit grow 51.7 percent and electronic circuit manufacturing grew 62.5 percent. High-tech manufacturing profits grew 52.0 percent year on year, exceeding the overall industrial growth rate by 36.5 percentage points, while manufacturing of industrial control computers and systems posted profit growth of 90.9 percent and dental equipment and appliance manufacturing grew 59.6 percent. Enterprises of diverse sizes and categories experienced fast profit growth alongside declining unit costs, bringing the operating revenue profit margin of industrial enterprises above designated size to 5.68 percent, up 0.44 percentage points year on year.

Demand across AI computing power and advanced storage drove profit in electronic special materials manufacturing up by 2.2 times, while modern information technology growth lifted optoelectronic device manufacturing profit by 69.8 percent.