中国股票策略-2025 年第三季度财报终评：MSCI 中国指数转呈净不及预期，终结 2024 年第四季度以来的符合预期趋势-China Equity Strategy-3Q25 Earnings – Final Cut MSCI China Turns to Net Miss, Pausing In-Line Streak Since 4Q24

November 30, 2025 10:02 PM GMT China Equity Strategy | Asia Pacific 3Q25 Earnings – Final Cut: MSCI China Turns to Net Miss, Pausing In-Line Streak Since 4Q24 MSCI China 3Q25 earnings showed a net miss by number of companies, breaking the streak of in-line results for MSCI China since 4Q24: Reported earnings missed consensus forecasts by number of companies (-9.4%) while posting in-line results by weighted surprise (+2.8%), softening vs. the in-line 2Q25 results (-2.7% and +2.7%, respectively) ( Exhibit 1 ) ...