兴业证券：2025年各行业上涨由何贡献?

智通财经网01-07

智通财经APP获悉，兴业证券发布研报称，2025年全A涨幅的27.65%中，盈利贡献5.29%，估值贡献20.44%，股息贡献1.91%。从一级行业来看，盈利成为决定2025年各行业表现的“分水岭”。涨幅居前的有色、AI硬件(通信、电子)、新能源、机械等，盈利均有较多贡献。而涨幅靠后的消费、地产链、红利等，也基本上均由盈利拖累。二级行业看，涨幅居前的二级行业盈利贡献大多为正，而军工(航天装备、地面...

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