工业利润增速转正，“四稳”增量政策有望加快推出

Group 1 - The political bureau meeting emphasized the "Four Stabilities" to stabilize the economy, indicating a strong signal for new employment stabilization and enterprise relief policies to be accelerated [1][2][8] - In the first quarter, profits of industrial enterprises above designated size turned from a year-on-year decline of 3.3% to a growth of 0.8%, marking a recovery from the continuous decline since the third quarter of the previous year [1][3] - The revenue of industrial enterprises above designated size increased by 3.4% year-on-year in the first quarter, with a faster growth rate compared to the previous months [3][4] Group 2 - The profit situation among different ownership enterprises showed reduced disparity, with state-controlled enterprises' profits totaling 559.95 billion yuan, a decline of 1.4%, while foreign and Hong Kong, Macao, and Taiwan-invested enterprises saw a profit increase of 2.8% to 388.35 billion yuan [4][5] - Manufacturing profits improved significantly, with a growth rate of 7.6% in the first quarter, an acceleration of 2.8 percentage points compared to the previous months [4][5] - The equipment manufacturing industry became a key support for profit growth, with profits increasing by 6.4% year-on-year, contributing 2.0 percentage points to the overall profit growth of industrial enterprises [5][6] Group 3 - High-tech manufacturing profits turned from a decline of 5.8% to a growth of 3.5% in the first quarter, indicating a strong recovery in this sector [5][6] - The aerospace industry saw a profit increase of 23.9%, while sectors related to artificial intelligence and medical devices also experienced significant profit growth [6][7] - Policies promoting equipment updates and consumption upgrades positively impacted profits in various sectors, with wearable smart devices and kitchen appliances seeing profit increases of 78.8% and 21.7%, respectively [7][8]