Profits of Industrial Enterprises Above the Designated Size Grow Relatively Rapidly in the First Three Quarters

The National Bureau of Statistics released profit data for industrial enterprises above the designated size for the first three quarters.

The data show that from January through September, industrial enterprises above the designated size nationwide recorded total profits of 6,033.74 billion yuan, up 15.5% year on year.

Profits of high-tech manufacturing enterprises above the designated size rose 52.0% year on year in the first three quarters.

New growth drivers played a more pronounced leading role in industrial enterprises' financial performance. In the first three quarters, profits in high-tech manufacturing above the designated size rose 52.0% year on year, accounting for more than a quarter of the profits of all industrial enterprises above the designated size. By industry, the development of computing capacity and data centers drove year-on-year profit increases of 570% in optical fiber manufacturing and 110% in optical cable manufacturing.

Profits in the electronics industry increased by 100% year on year from January to September.

The electronics industry made a significant contribution to profit growth. This year, industrial upgrading and technological iteration have continued to advance, steadily releasing momentum for the electronics industry's development. From January through September, profits in the electronics industry increased by 100% year on year, providing important support for the relatively rapid profit growth of industrial enterprises above the designated size. Looking at individual subsectors, the accelerated development of next-generation information technology and increased demand in areas such as AI computing capacity and advanced memory drove relatively rapid year-on-year profit growth in optoelectronic device manufacturing and the manufacture of specialized electronic materials.