Economic Performance of State owned and State controlled Enterprises in China from January to May 2012

From January to May 2012, the total operating revenue and tax payable of state-owned and state-controlled enterprises (hereinafter referred to as state-owned enterprises) included in this month's report statistics slowed down, and their profits continued to decline.

1、 Main economic benefit indicators

（1） Total operating revenue. From January to May, state-owned enterprises achieved a total operating revenue of 161943.2 billion yuan, a year-on-year increase of 11.3%, and a month on month increase of 3.7% in May compared to April. (1) Central enterprises (including centrally managed enterprises and department affiliated enterprises, the same below) have cumulatively achieved a total operating revenue of 1009.453 billion yuan, a year-on-year increase of 11.3%, and a month on month increase of 3% in May compared to April. Among them, centrally managed enterprises have achieved a total operating revenue of 853.92 billion yuan, a year-on-year increase of 9.8%, and a month on month increase of 3.1% in May compared to April. (2) Local state-owned enterprises have achieved a total operating revenue of 6.09979 trillion yuan, a year-on-year increase of 11.3%, and a month on month increase of 4.8% in May compared to April.

（2） Realize profits. From January to May, state-owned enterprises achieved a total profit of 830.13 billion yuan, a year-on-year decrease of 10.4%, and a month on month decrease of 11.8% compared to April. (1) Central enterprises have achieved a total profit of 580.73 billion yuan, a year-on-year decrease of 7.8%, and a month on month decrease of 16.3% in May compared to April. Among them, the cumulative total profit of centrally managed enterprises reached 435.16 billion yuan, a year-on-year decrease of 12.9%, and a month on month decrease of 12.2% in May compared to April. (2) Local state-owned enterprises have cumulatively achieved a total profit of 249.4 billion yuan, a year-on-year decrease of 16.1%, and a month on month decrease of 1.9% in May compared to April.

（3） Taxes payable and taxes already paid. From January to May, the tax payable by state-owned enterprises was 1.37762 trillion yuan, a year-on-year increase of 6.1%, and a month on month decrease of 5.9% compared to April. (1) The cumulative tax payable by central enterprises was 1051.95 billion yuan, a year-on-year increase of 8.3%, and a month on month increase of 1.2% in May compared to April. Among them, the cumulative tax payable by centrally managed enterprises was 704.91 billion yuan, a year-on-year increase of 3.7%, and a month on month increase of 1% in May compared to April. (2) The cumulative tax payable by local state-owned enterprises was 325.68 billion yuan, a year-on-year decrease of 0.4%, and a month on month decrease of 22.7% in May compared to April.

From January to May, state-owned enterprises have paid taxes and fees of 1555.48 billion yuan, a year-on-year increase of 14.6%, and a month on month decrease of 7% compared to April. (1) Central enterprises have cumulatively paid taxes and fees of 1168.47 billion yuan, a year-on-year increase of 16.1%, and a month on month decrease of 11.4% from April to May. Among them, centrally managed enterprises have cumulatively paid taxes and fees of 823.76 billion yuan, a year-on-year increase of 14.4%, and a month on month decrease of 7.9% in May compared to April. (2) Local state-owned enterprises have cumulatively paid taxes and fees of 387.01 billion yuan, a year-on-year increase of 10.5%, and a month on month increase of 7.1% in May compared to April.

（4） Profitability. From January to May, the total cost of state-owned enterprises was RMB 15505.58 billion, a year-on-year increase of 12.9%. Among them, operating costs increased by 12.7% year-on-year, while sales expenses, management expenses, and financial expenses increased by 12.2%, 9.8%, and 35.9% respectively.

The sales net profit margin was 3.7%, a decrease of 1.1 percentage points from the same period last year. The return on equity was 2.4%, a decrease of 0.7 percentage points from the same period last year. The cost profit margin was 5.4%, a decrease of 1.4 percentage points from the same period last year.

The net profit margin, return on equity, and cost and expense profit margin of central enterprises are 4.2%, 2.9%, and 6.1%, respectively, while those of local state-owned enterprises are 3%, 1.7%, and 4.2%, respectively.

（5） Operational capability. From January to May, the inventory of state-owned enterprises increased by 19% year-on-year. The inventory turnover rate was 1.6 times, a decrease of 0.1 times compared to the same period last year. The accounts receivable turnover rate was 4.9 times, a decrease of 0.3 times compared to the same period last year. The average total asset turnover rate is 0.2 times, which is the same as the same period last year.

2、 Profit situation of major industries

From January to May, industries with significant year-on-year profit growth include the tobacco industry, automobile industry, commerce and trade industry, and postal and telecommunications industry; The industries with significant year-on-year decline in profits are the non-ferrous industry, chemical industry, building materials industry, machinery industry, petrochemical industry, etc.

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Note: The national state-owned and state-controlled enterprises referred to in this month's report include central enterprises and state-owned and state-controlled enterprises in 36 provinces (autonomous regions, municipalities directly under the central government, and cities specifically designated in the state plan). Central enterprises include state-owned and state-controlled enterprises under central departments, as well as 117 centrally managed enterprises, all of which do not include state-owned financial enterprises.