周期和消费中报业绩可能继续改善

Group 1 - The overall profitability of the A-share market in Q1 2024 shows a slowdown in revenue growth, with a slight recovery in gross margin and net margin, but still below last year's levels. Revenue growth for the entire A-share market was 0.2% in Q1 2024, compared to 1.5% in the previous year [29][50] - The sales gross margin for the entire A-share market in Q1 2024 was 16.5%, a slight increase of 0.2 percentage points compared to the previous year, while the net margin was 9.1%, up 1.3 percentage points from the previous year but lower than the same period last year [29][50] - The asset turnover rate for the entire A-share market decreased by 0.1 percentage points in Q1 2024 compared to Q4 2023, indicating a slight decline in efficiency [11][59] Group 2 - The return on equity (ROE) for the entire A-share market in Q1 2024 was 8.0%, a slight decrease of 0.4 percentage points from Q4 2023, reflecting a decline in profitability [11][14] - The stable and consumer sectors showed better performance in terms of ROE, while the growth sector lagged behind, with the consumer sector maintaining positive growth trends [11][59] - Specific industries such as electronics, agriculture, and light industry experienced higher profitability growth in Q1 2024, while real estate and new energy sectors faced challenges [11][56] Group 3 - The financial sector's net profit improved in Q1 2024, with a net margin increase of 0.6 percentage points compared to Q4 2023, indicating a recovery in financial performance [11][59] - The asset-liability ratio for the entire A-share market showed a slight increase, with the growth and financial sectors experiencing higher ratios compared to the previous quarter [11][59] - The consumer and stable sectors maintained high profitability levels, while the growth and cyclical sectors showed weaker performance [11][59]