电子行业简评报告：三季报业绩增速中位数：电子行业优于全部A股

Investment Rating - The industry investment rating is "Positive" [1] Core Insights - The median year-on-year growth rate of net profit for electronic companies has shown a decline from Q1 2023 to Q3 2024, with figures of -38.6%, -28.8%, -23.2%, -6.3%, 13.1%, 5.1%, and 4.8% respectively, indicating a trend of initial growth followed by a decline [1] - The semiconductor sector has experienced a significant improvement in median net profit growth rates, with figures of -54.9%, -43.5%, -34.8%, -1.6%, 9.3%, 2.2%, and 16.3% from Q1 2023 to Q3 2024, showing a notable increase in the third quarter compared to the second quarter [1] - The median year-on-year growth rate of net profit for the electronic sector has consistently outperformed the overall A-share market since 2024, with the A-share median growth rates being 4.6%, -1.1%, -1.4%, -0.1%, 3.3%, -5.5%, and -7% [1] - The median revenue growth rates for the electronic sector from Q1 2023 to Q3 2024 were -8.2%, -2.3%, 6%, 9%, 14.6%, 15.1%, and 14.6%, indicating a stronger performance compared to the overall A-share market [1] - The electronic industry accounted for 4.2% of total revenue and 2% of total net profit in the A-share market for the first three quarters of 2024, with total revenues of 21,800.85 billion and net profits of 940.33 billion respectively [1] - The electronic industry's price-to-book (PB) ratio as of October 31, 2024, was 3.61, reflecting a 15% increase from the end of 2023, while the price-to-earnings (PETTM) ratio was 72.19, showing a slight increase [1] - The report suggests a positive outlook for the electronic sector and recommends focusing on companies with high revenue and net profit growth rates within the industry [1]