Sichuan SOEs record 26.81 percent increase in profits in Q1

The main production and management indicators of 22 State-owned enterprises (SOEs) supervised by Sichuan provincial SASAC maintained a substantial increase between January and March, with total profits of 2.27 billion yuan ($354.2 million), up 26.81 percent year-on-year.

The total revenues of the local SOEs amounted to 54.91 billion yuan, representing a year-on-year rise of 17.32 percent.

The assets of the SOEs totaled 1.04 trillion yuan, a year-on-year increase of 21.15 percent; owner's equity totaled 367.64 billion yuan, a year-on-year increase of 29.31 percent; the asset-liability ratio reached 64.6 percent, dropping 2.23 percentage points year-on-year; and the taxes reached 2.71 billion yuan, a year-on-year increase of 28.76 percent, promoting the realization of the operating target of the SOEs supervised by provincial SASAC of Sichuan, and realizing an auspicious start to 2018.