Total profits of China's industrial companies of national or above scale fell 4.3% year-on-year in January-October: Chinese report

According to the National Bureau of Statistics of China, the total profits of industrial enterprises with national-level or larger revenues (enterprises with annual main operating revenues of 20 million yen or more) in the first 10 months of the year fell 4.3% compared to the same period last year.
By company, the total profits of state-owned enterprises fell 8.2% to 1,853,090 million former (approximately 38,900 billion yen).
In addition, share-stock companies saw a 5.7% decrease to 4,371.85 billion formers (approximately JPY 91.9 trillion), while foreign-invested and Hong Kong-, Macau- and Taiwan-invested companies saw a 0.9% increase to 1,455.9 billion formers (approximately JPY 30.6 trillion).
By the three major sectors, the total profits of mining and manufacturing fell 12.7% to 984.53 billion yen (approximately 34.7 trillion yen).
20.7 trillion yen), manufacturing industry decreased by 4.2% to 4.22231 trillion yen (about 88.7 trillion yen), and the production and supply industry of electricity, thermal energy, gas and water increased by 11.5% to 661.2 billion yen.
Looking at profits by major industry, the non-ferrous metal smelting and rolling processing industries saw a 40.0% increase, while the electricity and thermal energy production and supply industry saw a 13.8% increase, showing strong growth.
Coal mining and washing industry saw a 23.7% decrease, while non-metallic mineral product manufacturing industry saw a 49.6% decrease. In addition, petroleum, coal and other fuel processing industry, black metal smelting and rolling industry saw a 20.2% decrease.
Both of these turned from a profit in the same period of the previous year to a loss. During the same period, the operating income of industrial enterprises of a national scale or larger increased by 1.9% to 110.96 trillion yen (approximately 2,331.5 trillion yen).
Costs increased 2.3% to 94.75 trillion yen (approximately 1,990.9 trillion yen), and operating profit margin was 5.29%, down 0.34 points from the same period last year.
On the other hand, profits for industrial companies of national scale or larger in October fell 10.0% compared to the same month last year.