2024年A股市场三季报综述：政策支持下内需端盈利迎改善预期

Group 1 - The overall A-share market showed a marginal improvement in profit growth, with a year-on-year decline of -0.52% in net profit for the first three quarters of 2024, an improvement from -3.09% previously. The financial sector contributed significantly to this improvement [4][9][13] - In Q3 2024, the net profit growth rate for the overall A-share market turned positive at 4.73%, compared to -1.48% in the previous quarter, marking the first positive growth since Q3 2023. The non-bank financial sector saw a substantial increase of 214.05% year-on-year in net profit [4][13][19] - The report suggests focusing on sectors with improving domestic demand performance, as the economy is expected to stabilize and recover in Q4, which will support the performance of listed companies [4][29][32] Group 2 - In Q3 2024, certain primary industries such as utilities, telecommunications, daily consumption, industrials, and energy saw a rebound in net profit totals. The report indicates that industries with lower profit share are likely to benefit from policy support and industry recovery [29][32] - The financial and consumer sectors showed strong recovery in Q3, with financial sector net profit growth at 22.44% year-on-year, driven by improvements in the equity market. Consumer sector profits also increased due to favorable policies and reduced mortgage rates [25][32] - The report highlights that while some sectors like industrials and information technology saw improvements, others experienced declines, indicating a mixed recovery across different industries [32][29]