Vehicle revenue increased by 11% in 2017, profit increased by 6%, and profit margin dropped to 8%

In 2017, the gross profit of industrial enterprises above designated size was 7.518.71 billion yuan, an increase of 21% over the previous year, and the growth rate was 12.5 percentage points higher than that of 2016. . In 2017, the mining industry realized a total profit of 458.68 billion yuan, a 2.6-fold increase over the previous year; the manufacturing industry realized a total profit of 665.111 billion yuan, an increase of 18.2%; and the automotive manufacturing industry grew by 5.8%. The upward pressure on profit growth in the middle and lower reaches has also brought about greater pressure on passenger car consumption growth of only 2%.

1. Upstream and downstream profits in the manufacturing industry continue to adjust

From January to December of the 17th year, the total profit of industrial enterprises above designated size reached 7,518.7 billion yuan, a year-on-year increase of 21%, and the growth rate performed extremely well.

From the perspective of classification, profits in the mining industry increased 2.6 times, profits in the upstream industries such as metal rolling increased by 55%, profits in the midstream industries such as electrical equipment and machinery increased by 11%, and profits in downstream industries such as automobiles increased by 11%. The income growth rate of the midstream and downstream industries has fallen at the end of the year

2. Large changes in profit composition

From the perspective of profit composition, profits of the upstream industries such as mining and metal smelting accounted for 8 percentage points, while the proportion of mid-stream profits decreased by 3%, and downstream profits decreased by 3%. Due to the large number of employed people in the middle and lower reaches, such profit growth is not very favorable for auto consumption.

The profits of the upstream industry are very good, especially in the industries such as ferrous metal rolling, non-ferrous metals, and petroleum. The high income growth has resulted in a very good profit performance.

The overall performance of the middle and lower reaches of the industry is not strong. The profits of the auto industry in January-December reached 645.8 billion yuan, which is the highest in the manufacturing industry, but the growth rate is relatively low.

3, the automobile industry production index

According to data from the National Bureau of Statistics, automobile production in the year 17 was 29.94 million units, a year-on-year increase of 3.2%, of which the highest performance was a high growth of 20% for trucks and only -1% for sedan growth.

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4. The auto industry is still growing rapidly

The number of companies in the automotive industry has grown at a rapid rate. By the end of the year, there were 14,700 companies, and the number of loss-making enterprises also increased in 17 years.

Debt growth has been faster than asset growth in consecutive years. In the 17 years, the company's liabilities increased by 14.5%, while the assets increased by 12.6%.

5. Higher receivables from automobile companies

In 17 years, the accounts receivable of automobile companies grew rapidly, and high growth for several consecutive years was estimated to be related to the pressure of new energy subsidies.

The 17-year auto market was sluggish, but companies are also considering making reserves for 18 years of growth. Therefore, it is estimated that some of the inventory is also an 18-year sales resource.

6, the efficiency of the automotive industry is mainly the cost of cost

In the 17th year, the auto industry's profit performance was average. The main business income was mainly increased by 10.8%, but the cost increased by 11.4%, resulting in a greater polarization.

Moreover, the increase in the management costs of the automotive industry is relatively low, and the growth in sales expenses is even slower than that in the past 16 years, but the cost pressures are higher. Therefore, the profitability of the automotive industry is poor.

7. The profit rate of the auto industry dropped to 8%

The profit rate of the automotive industry in the past 17 years was 8%, which was a drop of 0.4% over the past 16 years. The profitability of the industry has declined. The profits of the pharmaceutical industry and alcoholic beverages are still growing rapidly. The profitability of tobacco is also above 10%. . The poor performance of passenger vehicles in the automotive industry affects profit performance. The problem is still the impact of entry-level consumption.