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On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that profits in the raw materials manufacturing sector grew rapidly. From January to May, profits of enterprises above designated size in the raw materials manufacturing sector increased by 83.1% year-on-year, contributing 10.2 percentage points to the overall profit growth of industrial enterprises above designated size. By industry, driven by increased demand from emerging industries such as new energy and artificial intelligence, prices of products such as copper and aluminum remained at high levels, pushing profits in the non-ferrous metals industry to increase by 117.1%, contributing 5.3 percentage points to the overall profit growth of industrial enterprises above designated size. Driven by rising prices of products related to the petroleum industry chain, the petroleum processing industry turned a profit year-on-year, and the chemical industry saw a profit increase of 71.6%.On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that the profits of high-tech manufacturing maintained double-digit growth. From January to May, the profits of large-scale high-tech manufacturing enterprises increased by 44.7% year-on-year, contributing 8.0 percentage points to the overall profit growth of large-scale industrial enterprises, demonstrating its continued leading role. By industry, the semiconductor industry chain performed well. In electronic device manufacturing, the profits of optoelectronic device manufacturing and semiconductor discrete device manufacturing increased by 53.8% and 40.6% respectively; in electronic component and electronic special material manufacturing, the profits of electronic special material manufacturing and electronic circuit manufacturing increased by 665.4% and 19.7% respectively. The medical equipment and related industries saw rapid profit growth, with the profits of dental equipment and instruments manufacturing and hygiene materials and medical supplies manufacturing increasing by 26.4% and 23.2% respectively.Chinas industrial profits rose 21.1% year-on-year in May, up from 24.70% in the previous month.Chinas year-to-date profits for major industrial enterprises rose 18.8% in May, up from 18.20% in May.On June 27, following the US militarys airstrikes against Iran on June 26, US Vice President Vance stated that if Iran resorts to violence, it will face a military response. Vance posted on social media that day: "Iran signed a ceasefire agreement, and we have honored it. If they have objections to how the memorandum of understanding is being implemented, they can communicate directly by phone. But if violence is used, it will be met with a military response." Earlier on June 26, the US Central Command issued a statement saying that the US military launched strikes against Iran that day in response to the attack on a merchant ship transiting the Strait of Hormuz the previous day.

TUI Reports Robust Summer Reservations As The Tourism Industry Recovers

Haiden Holmes

Feb 14, 2023 16:58

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TUI announced on Tuesday that it is observing a promising travel recovery trend for the forthcoming summer season, as travelers make preparations to take vacations after a pandemic absence.


Many expected that recessionary conditions would limit demand for vacations, but figures from airlines such as Ryanair, Wizz Air, and easyJet (LON:EZJ) indicate people are preparing for vacations.


The firm, one of the world's leading tour operators, reported that its first-quarter sales hit €3.8 billion ($4 billion) on strong winter and summer reservations, while its group EBIT loss nearly halved to €158.7 million from €267 million a year ago.


8.7 million reservations are scheduled for the 2023 winter and summer seasons.


"Our approach is straightforward: quality, cost control, and market share. New goods, new clients, and the resulting rise in market share and above-average growth are the foundation for future revenue and profit development "Sebastian Ebel, chief executive officer of TUI, said in a release.


European consumers are facing the greatest levels of inflation in a generation, yet the demand for vacations has been strong thus far. Early this year, low-cost airlines such as Ryanair, Wizz Air, and easyJet reported robust summer reservations.


Revenue increased by 1.4 billion euros to reach 3.8 billion euros year-over-year, while the number of visitors increased by almost one million to reach 3.3 million from the previous quarter.


According to the firm, demand in the previous four weeks has surpassed pre-pandemic levels, and prices have increased year-over-year.


In addition, the Hotels and Resorts division of the corporation recorded occupancy rates of 71% between October 2022 and March 2023, compared to 56% for the same period in the previous year.


Separately, TUI shareholders are likely to vote on a capital increase proposal to repay the German Economic Stabilization Fund later on Tuesday.

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