Recently released data from the National Bureau of Statistics shows that from January to August, the profits of large-scale computer, communication, and other electronic equipment manufacturing (hereinafter referred to as the "electronic information manufacturing industry") increased by 1.1 times year-on-year, contributing 62% to the total profit growth of all large-scale industrial enterprises. A single industry accounting for the "major half" of the national industrial enterprise profit growth carries extraordinary weight.
Where does this high growth come from?
Relevant officials from the National Bureau of Statistics analyzed and noted: "The accelerated expansion of new technology applications represented by AI (Artificial Intelligence) has driven the expansion of demand in related fields, promoting the rapid growth of profits in the electronic industry." Breaking down the data, multiple links in the industrial chain, including electronic materials, chips, optoelectronic devices, and complete machines, have collectively benefited.
On the chip front, emerging scenarios such as intelligent computing centers, NEVs (New Energy Vehicles), and AI terminals have driven demand expansion. Profits in the related optoelectronic device manufacturing and semiconductor discrete device manufacturing industries grew by 72.0% and 51.8%, respectively. On the materials front, the rapid development of the electronic basic raw materials sector has driven profits in the electronic special materials manufacturing and electronic circuit manufacturing industries to grow by 2.3 times and 49.1%, respectively. On the computing power infrastructure front, profits in the optical fiber manufacturing and optical cable manufacturing industries grew by 5.3 times and 1.0 times, respectively. On the complete machine front, profits in the computer complete machine manufacturing, computer peripheral equipment manufacturing, industrial control computer and system manufacturing, and communication system equipment manufacturing industries grew by 3.9 times, 2.6 times, 1.3 times, and 48.7%, respectively.
This high prosperity is also confirmed in the capital market. A review of the recently disclosed "semi-annual reports" by A-share listed companies shows that 518 electronic information manufacturing enterprises achieved a total operating revenue of approximately CNY 2.65 trillion in the first half of 2026, a year-on-year increase of 37.84%; the total net profit attributable to parent company reached CNY 258.7 billion, a year-on-year increase of 195.09%.
As the "primary industry" of China's industrial sector, the scale of the electronic information manufacturing industry has remained at the top of all major industrial categories for 13 consecutive years, with its revenue accounting for 12.5% of the national industrial total in 2025. Since the beginning of this year, the "ballast stone" role of the electronic information manufacturing industry has become prominent, steadily "supporting" the basic landscape of industrial enterprise profit growth.
Looking at the profit growth rate of large-scale industrial enterprises, it increased by 15.2% year-on-year from January to February, and then rose month by month, growing by 18.2% from January to April, and reaching a peak of 18.8% from January to May. However, affected by the elevated base in the same period last year and changes in the external environment, the cumulative growth rate has declined month by month since then. In contrast, the contribution of the electronic information manufacturing industry has continued to climb: from January to May, profits increased by 103.9% year-on-year, contributing 43.1% to the total profit growth of all large-scale industrial enterprises; by January to August, profits increased by 1.1 times year-on-year, and the contribution rate further climbed to 62%.
It is worth mentioning that this high industry prosperity is not simply "price-driven", but the result of the comprehensive superposition and resonance of multiple factors, including the release of external demand, rising costs, domestic substitution, and lean manufacturing.
Release of external demand makes chips the "top commodity" in China's exports. The global explosion in AI computing power infrastructure has driven a surge in demand for memory chips. Relying on the advantages of a complete industrial chain, China's chip industry has continuously optimized production processes, yield rates, and equipment operating efficiency, steadily enhancing its influence and recognition in the global market. From January to August, the cumulative export value of ICs (Integrated Circuits) increased by 103.9% year-on-year, and the export value of chips in August alone hit a record high.
Rising costs push up export unit prices. AI has caused a supply shortage of memory chips, driving global memory chip prices to continue to rise, which has also created favorable conditions for domestic chips to increase revenue. In August, the average export unit price of domestic chips increased by 150% year-on-year.
Domestic substitution gains momentum and the ecosystem continues to improve. Leading large models have fully adapted to domestic computing power bases such as Hygon, Ascend, Kunlunxin, and Moore Threads, accelerating ecosystem construction and industrial collaboration.
Lean manufacturing improves efficiency and opens up profit margins. As representatives of advanced manufacturing, electronic information manufacturing enterprises have improved the quality and efficiency of the manufacturing end through AI, taking the lead in reaping the dividends of new technologies. By applying vertical large models and accelerating the implementation of AI factories, AI is promoted to run through core scenarios such as R&D, planning, materials, production, and quality, helping enterprises win greater profit margins in transformation and upgrading.
For a long time, external perceptions of China's industry have largely remained stuck in the stereotypical impressions of "large scale but low added value" and "big but not strong". However, the continuous increase in the contribution of the electronic information manufacturing industry and high-tech manufacturing to the entire industry strongly proves that the development and growth logic of China's industry is undergoing profound changes. Behind this is the qualitative change of China's innovation from "following" to "running alongside", and even "leading" in some fields, comprehensively transforming towards high-tech, high-added-value, and high-barrier high-end intelligent manufacturing.
Standing at the critical juncture of the conversion of old and new growth drivers in China's economy, to transform the "key variables" into the "maximum increment" and expand the leading advantage of the electronic information manufacturing industry into the overall advantage of the manufacturing industry, on the one hand, it is necessary to vertically open up the industrial chain, continuously smooth the value cycle from chips and materials to complete machines and communications, transform AI computing power demand into tangible industrial upgrading achievements, and make persistent efforts in tackling key core technologies; on the other hand, the electronic information manufacturing industry should empower traditional industries such as automobiles, steel, and building materials, accelerate digital, intelligent, and green transformation, and enable more industries to find broad profit margins in "renewal".
Author | Qi Xu
Editor | Wu Lilin
Art Editor | Ma Liya Supervisor | Lian Xiaodong