中国股票策略 - A 股 2025 年第二季度盈利回顾-China Equity Strategy-A-share Q225 earnings review
2025-09-03 01:22
ab 2 September 2025 Global Research China Equity Strategy A-share Q225 earnings review Overall A-share earnings +0.7% YoY in Q2, -3.2% YoY for ex-financials Overall A-share earnings grew 2.3% in H125, or 0.6% YoY for ex-financials. Specifically, overall A-share earnings edged up 0.7% YoY in Q225 (Figure 10A-share nigsowth bysector), slower than +3.7% YoY in Q125. Given intensified China-US trade frictions and the property sector's ongoing bottoming in Q225, non-financial sectors' earnings growth was again i ...