China industrial earnings surge 18.8% as Nike reports falling Chinese sales

China’s large industrial firms recorded an 18.8% year‑on‑year increase in gross profit for the January‑May 2026 period, reaching 3.14 trillion yuan (about €400 million). The rise was driven by higher demand for AI‑related electronics and new‑energy materials, with May profit up 21.1% and overall industrial revenue up 5.5% YoY, according to the National Bureau of Statistics.

Nike announced fourth‑quarter earnings of $1.07 billion, or $0.72 per share, beating Wall Street forecasts. Revenue fell 1% to $10.97 billion, while gross margin rose 8.9% after a large tariff refund. North American sales grew 3% to $4.83 billion, but Chinese sales slipped 12% to $1.30 billion, even as the company exceeded revenue expectations for its second‑largest market.

The mixed results highlight strong industrial growth in China alongside challenges for multinational retailers in the Chinese consumer market.