分析师上调日本企业盈利预期的比率超过世界其他国家 "当前国内外环境均对日本经济构成支撑，"日本新金资产管理公司高级基金经理藤原直树（Naoki Fujiwara）表示，"企业盈利稳 步提升，下财年前景改善，我认为市场估值已不再过度昂贵。" 这一数据凸显市场的乐观情绪。根据彭博社11月10日的盈利修正数据，分析师上调东证指数成分股盈利预期的速度，超过全球多 数主要股指。 日本企业财报季捷报频传，越来越多公司凭借人工智能（AI）需求激增、关税影响小于预期及日元贬值三重利好，业绩远超市场 预期，显示股市涨势仍有空间。 彭博社数据显示，在已公布季度财报的东证指数（Topix）成分股中，近60%的公司盈利超过至少两名分析师的平均预期。冈三证 券11月7日的分析显示，这是自2020年第二季度以来已公布财报公司中，超预期比例最高的一次。 关税对盈利的影响减弱，也提振了超预期财报的表现。部分企业已成功将成本转嫁给客户。例如，日立建机（Hitachi Construction Machinery）上月末在财报电话会议上表示，公司正通过提价覆盖关税成本。 不过，部分分析师警告，盈利预期上调数量增加是指数创新高的关键因素，尤其是日 ...

Investment Rating - The report does not explicitly state an investment rating for the servo motor industry in China for 2024 Core Insights - The Chinese servo motor market is projected to see a total sales volume of approximately 16.77 million units in 2024, representing a year-on-year growth of 23% [13][14] - The total sales revenue for the servo motor market is estimated to be around 10.5 billion yuan in 2024, with a slight increase of 2% compared to the previous year [16][17] - The domestic servo motor market is dominated by local manufacturers, holding approximately 52% of the market share, while foreign brands account for about 48% [19][21] Summary by Sections 1. Content Summary - The report outlines the challenges faced by the Chinese economy in 2024, including insufficient demand and operational difficulties for some enterprises, but overall economic growth is expected to continue with GDP reaching 134.9 trillion yuan, a 5% increase year-on-year [4][6] 2. Macro Environment Analysis - The industrial economy in China is expected to maintain a stable and positive trend, with total investment projected at approximately 17 trillion yuan, reflecting an 8.5% year-on-year growth [5][7] - The manufacturing sector is anticipated to see a revenue increase of 3% and an added value growth of 5% [5][7] 3. Competitive Landscape Analysis - The report indicates that domestic brands have a significant presence in both the AC and DC servo motor segments, with local manufacturers capturing over half of the market share [19][21] 4. Demand Structure Analysis - The demand for servo motors is expected to be driven by policies promoting energy efficiency and green development, which are aimed at achieving carbon neutrality goals [8][10] 5. Appendix - The report includes data on the import and export situation of servo motors in China, with exports estimated at approximately 870 million yuan, primarily consisting of AC servo motors [18][19]