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Shandong provincial state-owned enterprises make a good start

2018/4/2 16:24:43   source:sdchina.com

According to news from the Information Office of Shandong Provincial People's Government, with a huge growth in last year’s economic benefit, the provincial-level enterprises of Shandong Province have achieved a stable running with good momentum this year, getting into the top four in revenue and profit among national province-supervised enterprises and making a good start.

The provincial state-owned enterprises of Shandong have realized the enhancement both in product quality and price, as well as a great increase in the total profit, said Fan Jun, a member of the Party Committee and deputy director of Shandong Provincial State-owned Assets Supervision and Administration Commission.

Shandong’s provincial level enterprises made 7.1 billion yuan in total profit in the first two months of this year, a 52% increase from a year earlier. The sales volume of commercial coal saw a 30 percent year-on-year growth, with a 15 yuan per-ton hike in the average coal price. The steel price has fallen back somewhat, but still is 508 yuan higher per ton than the same period of last year. Shandong Heavy Industry Group reported a 14 percent increase in sales volume of engines, with 13,500 extra engines sold.

More than 10.9 billion yuan of investment in the fixed assets was completed by the provincial-level enterprises in Shandong from January to February, pointing to a 64 percent year-on-year growth and a huge development potential.

The ratio of profits to cost has been rising steadily, and the quality effectiveness has been improved steadily. The ratio of profits to cost of Shandong’s provincial-level enterprises rose 1.36 percent year on year to 4.59 percent during the first two months of the year. The gross costs of these enterprises registered an 8 percent increase to 154.8 billion yuan, one percent lower than business revenue in the same period.

In the first two months of the year, the provincial-level enterprises in Shandong have realized 161.2 billion yuan in business revenue with an 9% year-on-year increase, under the condition of 5.83% year-on-year reduction of the proportion of trade income.

The asset-liability ratio was stable with a slight decline while the financial risks continue to be released. By the end of February, the total assets of Shandong’s provincial enterprises increase 19 percent to 2.4797 trillion yuan, with an 11 percent year-on-year growth of interest-bearing liability. 

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Sponsor:Information Office of Shandong Provincial People’s Government