Ministry of Industry and Information Technology: The total profits of Internet companies in the first three quarters increased by 18.2% year-on-year, and online sales revenue increased by 47.3%

According to news released by the Ministry of Industry and Information Technology, as of October 31, the operation of the Internet and related service industries in the first three quarters of 2023 shows that the growth rate of Internet business revenue has increased, and total profits have grown rapidly, but R&D expenses continue to decline.

Internet business revenue growth increased slightly. In the first three quarters, my country's Internet and related service companies above designated size (hereinafter referred to as Internet companies) achieved Internet business revenue of 1.0294 billion yuan, a year-on-year increase of 3.4%.

▲ Cumulative growth of Internet business revenue (%), source: Ministry of Industry and Information Technology, the same below

Total profit comparison Fast growth. In the first three quarters, the operating costs of my country’s Internet companies above designated size increased by 7% year-on-year, and the growth rate dropped by 0.4 percentage points from the first half of the year. Achieved a total profit of 95.93 billion yuan, a year-on-year increase of 18.2%.

▲ Growth in operating profits of the Internet and related service industries (%)

R&D expenditures continue to decline. In the first three quarters, my country’s Internet companies above designated size invested a total of 49.59 billion yuan in research and development, a year-on-year decrease of 6.1%.

▲ Growth of R&D expenses in the Internet and related service industries (%)

Operation status of various fields:

• The income of enterprises in the information services field fell slightly. In the first three quarters, the Internet business revenue of enterprises focusing on information services (including news information, search, social networking, games, music videos, etc.) fell by 2.7% year-on-year.

• #The income of enterprises in the field of life services has grown rapidly. In the first three quarters, the Internet business revenue of platform companies that mainly provide life services (including local life, car rental, travel, financial services, automobiles, housing, etc.) increased by 9.8% year-on-year.

• #The revenue growth rate of enterprises in the online sales field continues to increase. In the first three quarters, the Internet business revenue of enterprises that mainly provide online sales services (including bulk commodities, agricultural and sideline products, comprehensive e-commerce, medical supplies, express delivery, etc.) increased by 47.3% year-on-year.

Situation in each region:

• Internet business revenue in the eastern region maintained a steady growth rate. In the first three quarters, the eastern region completed Internet business revenue of 961.3 billion yuan, a year-on-year increase of 4.5%. The growth rate increased by 0.7 percentage points from the first half of the year, accounting for 93.4% of the national Internet business revenue.

• Internet business revenue in the central region continued to decline based on the first half of the year, reaching 32.95 billion yuan, a year-on-year decrease of 9.7%, and the decline expanded by 2.2 percentage points compared with the first half of the year

• The western region completed Internet business revenue of 32.5 billion yuan, a year-on-year decrease of 7.5%, and the decline narrowed by 3.2 percentage points compared with the first half of the year.

• The Northeast region completed Internet business revenue of 2.65 billion yuan, a year-on-year decrease of 33.3%, and the decline was 6.4 percentage points narrower than the first half of the year.

##▲ Internet business revenue growth by region in the first three quarters of 2023

长Internet business revenue in the Triangle region has achieved rapid growth. In the first three quarters, the Beijing-Tianjin-Hebei region completed Internet business revenue of 394.8 billion yuan, a year-on-year increase of 2.9%. The growth rate dropped 0.3 percentage points from the first half of the year, accounting for 38.4% of the national Internet business revenue. The Yangtze River Delta region completed Internet business revenue of 422.5 billion yuan, a year-on-year increase of 13.1%, and the growth rate increased by 3.5 percentage points compared with the first half of the year.

##▲ Internet business revenue growth in economic belt regions in the first three quarters of 2023

Internet business growth rate in half of the regions achieve positive growth.

In the first three quarters, the top five cities in terms of cumulative Internet business revenue were Beijing (up 0.7%), Shanghai (up 17.7%), Zhejiang (up 5.1%), Guangdong (down 7.4%) and Tianjin (up 22.3%) A total of 907.7 billion yuan in business revenue was achieved, a year-on-year increase of 5.5%, accounting for 88.2% of the national share. This website found that there are 15 provinces (autonomous regions and municipalities) in the country that have achieved positive growth in Internet business growth.

▲ The growth of Internet business revenue in the top 5 provinces and cities in the first three quarters of 2023

According to statistics from the National App Technology Detection Platform, As of the end of September, the number of active apps monitored in my country's domestic market was 2.61 million (including Android and Apple stores). The number of mobile application developers is 840,000, including 260,000 Android developers and 580,000 Apple developers. In September, there were 54.2 billion downloads of apps on the Android App Store.

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