Guizhou's industrial companies maintain profit growth

The latest statistics show that in the first 11 months of 2020, industrial companies above a designated size – those with annual revenue of at or above 20 million yuan ($3.1 million) – in Southwest China's Guizhou province had a total profit of 95.30 billion yuan, an increase of 12.6 percent year-on-year.

It is the first time that the province's industrial companies above a designated size realized a two-digit profit increase since the beginning of 2020.

The manufacturing industry realized a profit of 86.86 billion yuan, a year-on-year increase of 15.8 percent, including 72.56 billion yuan from consumer goods manufacturing, 7.08 billion yuan from raw material manufacturing and 4.98 billion yuan from equipment manufacturing.

Private companies achieved a profit of 15.63 billion yuan, a year-on-year increase of 2.3 percent. It was the first time that the yield of private companies increased in 2020.

By the end of November last year, the cost of per hundred yuan profit was 72.87 yuan for companies above a designated size, which is 2.02 yuan less than the same period in 2019.

The profit rate of business income for companies above designated size was 11.7 percent by the end of November last year, which is 1.6 percentage points higher than the same period in 2019.

The business income profit rate increased by 2.5 percentage points year-on-year for medium-sized companies, 1.9 percentage points for State-owned companies and 2.2 percentage points for the consumer goods manufacturing industry.