BEIJING - Profits of China's major industrial firms dropped by 1.8 percent year-on-year in the first half (H1) of 2025, official data showed Sunday.

Industrial firms with an annual main business revenue of at least 20 million yuan (about $2.8 million) saw their combined profits reach 3.44 trillion yuan during the January-June period, according to the National Bureau of Statistics (NBS).

Operating revenue of these firms rose 2.5 percent year-on-year during this period, the NBS said.

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In June, profits of China's major industrial firms slipped 4.3 percent year-on-year -- narrower than the decline seen in May.