Shandong SOEs post steady growth in Q1-3
(chinadaily.com.cn)| Updated : 2021-11-18Print Print
The operating revenue of 26 Shandong provincial State-owned enterprises reached 1.55 trillion yuan ($242.73 billion) in the first three quarters of this year, official statistics showed.
Twenty-five Shandong SOEs, excluding Shandong Provincial Airport Management Group, reported a combined net profit of 55.59 billion yuan.
As the stabilizer of the province's economic operations, provincial SOEs have exerted a strong influence in economic and social recovery, said local authorities.
During this period, the operation revenue of key enterprises like Shandong Energy Group, Shandong Heavy Industry Group, Shandong Iron and Steel Group, as well as Shandong Hi-Speed Group all exceeded 100 billion yuan and generated over 7 billion yuan in combined net profit.
In the first three quarters, Shandong Energy Group achieved operating revenue of 620.56 billion yuan, an increase 30.66 percent year-on-year. Its profit reached 16.28 billion yuan, a year-on-year increase of 31.45 percent, with its net profit reaching 8.89 billion yuan.
Shandong Heavy Industry Group posted operating revenue of 276.93 billion yuan, an increase of 20.91 percent year-on-year. Its net profit reached 14.27 billion yuan.
Shandong Iron and Steel Group achieved operating revenue of 208.24 billion yuan, an increase of 30.61 percent year-on-year. Its net profit reached 7.4 billion yuan, an increase of 101.31 percent year-on-year.
Shandong Hi-Speed Group achieved operating revenue of 146.33 billion yuan, a year-on-year increase 38.73 percent. Its net profit stood at 8.38 billion yuan, increasing by 644.65 percent year-on-year.