AI Data Insight
From January to November 2025, the cumulative operating costs of industrial enterprises above designated size in China reached 118.75 trillion RMB, with the year-on-year increase narrowing significantly from 3.7% last year to 1.2%. Although cost pressures appear to have eased, market consensus indicates that profits during the same period increased by only 0.1%, revealing that weak terminal demand has led to insufficient revenue momentum, leaving enterprises deeply trapped in the structural dilemma of "increasing revenue without increasing profits."