National Bureau of Statistics interpretation: The decline in profits of large-scale industrial enterprises narrowed in June, with the profit growth of new energy industries represented by the equipment industry increasing rapidly.

In June, the industrial enterprises' profits under designated size decreased less compared to May, with the new energy industry represented by the equipment manufacturing industry showing faster profit growth. The business income continued to grow, while the profit decline narrowed. In June, the business income of industrial enterprises above designated size increased by 1.0% year-on-year, maintaining the same growth rate as in May. The total profit of industrial enterprises above designated size in June was 715.58 billion yuan, a decrease of 4.3% year-on-year, with the decline narrowing by 4.8 percentage points compared to May. In terms of cumulative figures, from January to June, the business income of industrial enterprises above designated size increased by 2.5%, while profits decreased by 1.8%. In the next stage, facing the complex and ever-changing external environment, it is necessary to resolutely implement the decisions and arrangements of the Party Central Committee, deepen the construction of a unified national market, expand and strengthen the domestic circulation, steadfastly promote the high-quality development of the industrial economy, and continually consolidate the foundation for the recovery of industrial enterprises' profitability. The original text is as follows: Industrial Enterprises' Profit Declines Narrowed in June - Yu Weinin, statistician from the Industrial Department of the National Bureau of Statistics, interprets the industrial enterprise profit data for June 2025 In June, the profit decline of industrial enterprises above designated size year-on-year narrowed compared to May. The profitability of industries with new energy represented by the equipment manufacturing industry grew rapidly, with the following characteristics of enterprise profitability: Business income continued to grow, and the profit decline narrowed. In June, the business income of industrial enterprises above designated size increased by 1.0% year-on-year, maintaining the same growth rate as in May. Industrial enterprises continue to see revenue growth, creating favorable conditions for profit recovery. In June, industrial enterprises above designated size realized a total profit of 715.58 billion yuan, a year-on-year decrease of 4.3%, with the decline narrowing by 4.8 percentage points compared to May. Within the manufacturing industry, there was a significant improvement, with profits changing from a 4.1% decrease in May to a 1.4% increase. Cumulatively, from January to June, the business income of industrial enterprises above designated size increased by 2.5%, while profits decreased by 1.8%. Revenue and profit in the equipment manufacturing industry grew rapidly, providing significant support. In June, the operating income of the equipment manufacturing industry increased by 7.0% year-on-year, accelerating by 0.3 percentage points compared to May. Profits changed from a 2.9% decrease in May to a 9.6% increase, driving an overall growth of profits in all industrial enterprises above designated size by 3.8 percentage points, demonstrating a significant support for profits in the industrial sector. Within the industry, profits in four out of the eight industries in the equipment manufacturing industry increased. The automotive industry saw a profit growth of 96.8%, driven by factors such as sales promotion leading to rapid sales growth and increased investment returns from key enterprises. The electrical machinery, instruments, and metal products industries saw profit increases of 18.7%, 12.3%, and 6.2%, respectively. The advancement of high-end, intelligent, and green manufacturing in the manufacturing industry continued. In June, profitability in industries related to high-end, intelligent, and green manufacturing grew rapidly, providing stable support for high-quality industrial development. Profits in industries such as electronic special materials manufacturing, aircraft manufacturing, and marine engineering equipment manufacturing in the high-end equipment manufacturing industry increased by 68.1%, 19.0%, and 17.8% respectively. The production of intelligent and automated products drove profit increases in related industries, with profits in industries such as intelligent consumer electronics manufacturing and drawing, computing, and measuring instrument manufacturing increasing by 40.9% and 12.5% respectively. The formation of green production and lifestyles accelerated, driving profit growth in related industries such as lithium-ion battery manufacturing, biomass energy generation, and environmental monitoring instrument manufacturing, with profit increases of 72.8%, 24.5%, and 22.2% respectively. The continued effects of the "Two New" policies are evident. Since the beginning of the year, the support and subsidies provided by the "Two New" policies have expanded in terms of categories and coverage, leading to significant improvements in profit in related industries. With the policies driving large-scale equipment updates, profits in industries such as medical equipment and instrument manufacturing, printing pharmaceuticals, daily chemicals and daily goods production special equipment manufacturing, and general parts manufacturing grew rapidly by 12.1%, 10.5%, and 9.5% respectively. The policy of replacing old products with new ones continued to show results in consumer goods industries such as electronics, home appliances, and kitchen and bathroom products, with profits in industries such as smart drones manufacturing, computer assembly manufacturing, household air conditioning manufacturing, and household ventilation appliance manufacturing increasing by 160.0%, 97.2%, 21.0%, and 9.7% respectively. Profit growth was also observed in industries related to the industry chain, such as optoelectronic device manufacturing and computer parts manufacturing, with profit increases of 29.6% and 16.9% respectively. In the next stage, facing the complex and ever-changing external environment, it is necessary to resolutely implement the decisions and arrangements of the Party Central Committee, deepen the construction of a unified national market, expand and strengthen the domestic circulation, steadfastly promote the high-quality development of the industrial economy, and continually consolidate the foundation for the recovery of industrial enterprises' profitability. This article is compiled from the "official website of the National Bureau of Statistics." Editor: Lifu Li.