或需聚焦A股的境外盈利：每周经济观察2025年11月04日-20251104

Group 1: Overseas Profit Contribution - In 2024, the proportion of gross profit from overseas for manufacturing listed companies is estimated to be 23.7%, slightly higher than the overseas revenue proportion of 22.3%[3][11] - The midstream equipment manufacturing sector has an even higher overseas gross profit ratio, reaching 31.2% in 2024[3][11] Group 2: Growth Contributions - For the equipment manufacturing sector, revenue growth in the first half of the year was 10.0%, with overseas contributions accounting for 3.3%[4][12] - The gross profit growth for the equipment manufacturing sector was 5.4%, with overseas contributions significantly higher at 4.0%[4][12] Group 3: Profit and Market Value Observations - The net profit growth for all A-share non-financial companies in the first three quarters was 1.7%, compared to a decline of 12.9% for the previous year[5][19] - The equipment manufacturing sector showed the fastest growth at 18.6% in the first three quarters, significantly influenced by overseas contributions[5][19] - By the end of September, the total market value of A-share non-financial companies was 96.9 trillion, up from 76.8 trillion at the end of the previous year, with manufacturing contributing 85% to this growth[6][22]