科创板23Y&24Q1业绩分析：科创营收利润增速转正

1科创营收利润增速转正——科创板23Y&24Q1业绩分析证券研究报告分析师：李美岑SAC：S0160521120002分析师：张日升SAC：S0160522030001联系人：张洲驰 2数据来源：Wind，财通证券研究所；当前业绩披露率超99%图表1：主要行业&细分业绩增速汇总营收增速：科创板企稳，科创100回升，电子/医药连续4季度改善，当前已转正。盈利增速：科创板/科创50/科创100均转正，电子/医药/计算机触底回升。科创业绩：电子/医药营收连续4季度改善，24Q1已转正科创板市值占比标的数量营收增速22-1223-0323-0623-0923-1224-03盈利增速22-1223-0323-0623-0923-1224-03电子37.6%13216%-12%-5%-1%5%37%-7%-68%-58%-59%-53%272% 半导体30.9%9227%-12%-8%-5%0%32%6%-65%-59%-63%-59%157% 光学光电2.3%15-6%-14%-12%-11%-7%15%-121%-279%-363%-1348%-724%-19% 消费电子2.7%8-4%-16%5%15%26%66%-47%-55%17%57%105%280%医药20.5%10613%-36%-25%-19%-16%31%-69%-124%-139%-118%-224%1043% 医疗器械8.7%5818%-40%-34%-30%-28%2%-10%-72%-62%-65%-61%-1% 生物医药9.2%3112%-43%-22%-8%-3%119%-121%-1334%-125%5%1%424% 化学制药2.7%17-2%18%20%7%9%12%-110%16%231%357%78%284%机械11.7%10518%18%14%14%10%9%13%16%18%13%6%-8% 专用机械3.9%4730%23%24%22%16%15%16%8%24%7%-6%-8% 运输设备2.5%98%13%4%5%2%-2%14%20%9%11%1%-15% 通用设备3.5%2723%19%21%22%20%17%15%16%34%41%43%10%电新8.6%3566%31%28%24%16%-17%148%35%11%-9%-24%-66% 新能源动力1.4%758%47%22%12%5%-27%126%9%-53%-72%-70%-74% 电气设备2.4%2037%60%53%42%32%-3%44%108%67%30%8%-52% 电源设备4.8%873%24%28%26%19%-14%173%31%12%-8%-25%-67%计算机9.3%646%17%14%11%8%9%-38%2%29%-14%-29%18% 计算机软件3.8%429%15%10%6%3%6%-49%-20%-125%-674%-98%-10% 计算机设备2.3%144%24%22%19%13%6%-27%-4%24%21%-4%28% 云服务3.3%81%11%12%15%15%21%31%108%190%743%220%1011%化工5.3%5362%-11%-14%-13%-17%-10%37%-52%-60%-58%-70%-40%科创板整体100%56231%2%5%6%5%4%10%-47%-39%-38%-41%2% 科创5043%5045%14%14%13%11%2%55%-15%-14%-23%-25%4% 科创10027%10040%1%-1%1%0%5%-33%-108%-96%-43%-52%12% 3ROE：科创板/科创50/科创100在24Q1均改善，医药回升显著，计算机略有上升。盈利增速：科创板/科创50/科创100在24Q1均改善，医药回升显著。数据来源：Wind，财通证券研究所；当前业绩披露率超99%图表2：主要行业&细分盈利能力汇总科创盈利能力：ROE和净利润24Q1环比改善，医药修复显著科创板市值占比标的数量ROE-ttm22-1223-0323-0623-0923-1224-03净利率22-1223-0323-0623-0923-1224-03电子37.6%1326.7%5.4%4.0%2.9%2.7%2.7%12.5%5.1%6.6%5.7%5.6%3.3% 半导体30.9%927.2%5.9%4.3%2.9%2.5%2.1%16.6%7.1%8.5%6.9%6.9%2.3% 光学光电2.3%15-0.7%-2.0%-3.7%-5.2%-6.2%-6.4%-1.5%-8.4%-10.5%-12.6%-13.4%-8.7% 消费电子2.7%89.2%7.4%9.9%12.8%17.3%19.8%4.7%3.5%7.1%7.8%7.6%8.0%医药20.5%1061.6%-1.5%-2.2%-1.8%-2.0%2.7%3.5%-7.1%-5.7%-1.9%-5.1%22.4% 医疗器械8.7%5812.6%8.9%7.4%5.0%4.7%5.3%23.3%15.1%15.8%14.5%12.7%15.0% 生物医药9.2%31-11.7%-15.7%-16.2%-11.9%-12.8%-1.0%-29.8%-45.7%-41.1%-24.6%-30.5%38.4% 化学制药2.7%17-0.4%-0.3%0.6%0.0%-0.1%0.7%-0.9%-2.6%2.5%0.8%-0.2%4.2%机械11.7%1058.6%8.5%8.5%8.3%7.8%7.7%11.1%10.1%11.7%11.4%10.7%8.5% 专用机械3.9%479.5%9.1%9.1%8.3%7.3%7.1%10.0%8.1%9.8%9.1%8.2%6.5% 运输设备2.5%97.5%7.6%7.7%7.8%7.2%7.0%10.9%10.8%11.8%11.9%10.9%9.4% 通用设备3.5%279.2%9.0%9.8%10.4%10.6%10.7%10.8%10.6%12.5%12.8%12.9%10.0%电新8.6%3517.4%17.2%16.7%14.1%11.3%8.6%9.2%9.9%8.5%7.3%6.0%4.1% 新能源动力1.4%75.6%5.5%3.8%1.7%1.5%0.7%2.4%2.0%1.3%0.8%0.7%0.7% 电气设备2.4%2010.1%11.3%12.3%10.9%9.7%8.3%14.4%15.4%14.7%13.1%11.7%7.5% 电源设备4.8%822.8%21.9%21.1%18.3%14.3%10.8%11.0%12.2%10.0%8.7%7.0%4.7%计算机9.3%642.4%2.3%2.4%2.1%1.5%1.7%4.6%-10.5%-2.8%-2.2%3.0%-7.8% 计算机软件3.8%422.2%2.0%1.7%1.1%0.0%0.0%4.2%-11.4%-1.9%-2.3%0.1%-11.8% 计算机设备2.3%143.4%3.3%4.0%3.9%3.1%3.6%6.3%-16.1%-7.3%-5.0%5.4%-10.8% 云服务3.3%81.3%1.7%2.2%2.3%3.3%3.7%2.4%0.5%2.5%3.2%6.6%4.3%化工5.3%539.9%8.4%6.6%5.0%2.8%2.3%8.5%5.6%4.7%4.5%3.1%3.7%科创板整体100%5627.3%6.2%5.4%4.6%3.8%4.4%9.4%6.0%6.5%6.1%5.3%6.2% 科创5043%5011.3%10.7%9.9%8.5%7.6%8.5%12.0%9.5%9.7%8.7%8.0%9.3% 科创10027%1002.6%1.8%1.0%1.5%1.2%3.0%3.5%-0.4%0.2%2.4%1.7%4.2% 4数据来源：Wind，财通证券研究所；当前业绩披露率超99%图表3：主要行业&细分业绩增速汇总科创100市值占比标的数量营收增速22-1223-0323-0623-0923-1224-03盈利增速22-1223-0323-0623-0923-1224-03电子28.2%329%-13%-5%2%7%25%-29%-93%-67%-63%-57%317% 半导体21.3%2313%-12%-3%5%12%48%-14%-86%-72%-70%-60%131% 光学光电4.5%5-9%-18%-11%-5%-3%12%-53%-104%-65%-52%-59%1552% 消费电子1.4%25%-18%-6%0%3%3%-75%-167%0%18%37%148%医药36.3%2518%-5%2%8%5%18%-630%-111%-43%56%38%256% 医疗器械10.7%1237%-20%-20%-22%-26%4%4%-46%-40%-37%-39%-1% 生物医药20.2%95%9%24%39%36%29%-99%-17%-3%50%40%67% 化学制药5.4%4-10%55%57%61%62%77%-1342%25%16%21%13%93%机械11.8%1226%20%14%16%19%28%43%64%48%36%30%2% 专用机械5.0%639%29%28%33%36%42%69%103%105%75%61%19% 通用设备4.7%429%18%13%19%19%36%105%150%84%79%55%6%电新3.9%5145%111%39%30%37%-10%145%57%-181%-253%-431%62% 新能源动力2.0%2197%117%37%33%42%-10%28%-41%-1597%-1927%-116%61% 电气设备1.9%350%92%47%19%16%-8%117%164%7%-20%-25%-61%计算机8.5%119%20%17%18%12%9%-82%-1%7%35%-125%-12% 计算机软件4.3%66%0%4%3%-6%-6%-73%-65%-82%-9%-295%-22% 计算机设备2.2%36%30%25%24%22%9%-69%57%95%210%39%235% 云服务2.0%232%65%37%69%42%60%-21%42%15%27%80%-60%化工6.8%10122%-19%-25%-26%-32%-34%100%-66%-88%-82%-89%-76%科创100100%10040%1%-1%1%0%5%-33%-108%-96%-43%-52%12%科创100业绩：电子/医药/机械营收连续2季度以上改善营收增速：电子/医药/机械连续2季度以上改善，电子/医药已转正。盈利增速：电子/医药/计算机触底回升。 5ROE：24Q1医药回升显著，电子略有上升。盈利增速：24Q1医药/电新回升显著。数据来源：Wind，财通证券研究所；当前业绩披露率超99%图表4：主要行业&细分盈利能力汇总科创100盈利能力：医药ROE和净利润边际修复显著科创100市值占比标的数量ROE-ttm22-1223-0323-0623-0923-1224-03净利率22-1223-0323-0623-0923-1224-03电子28.2%325.0%3.6%2.7%2.1%1.9%2.2%9.1%0.9%3.8%3.8%3.7%3.0% 半导体21.3%235.1%3.7%2.5%1.8%1.8%2.0%12.5%2.4%4.5%4.1%4.5%3.8% 光学光电4.5%54.0%2.6%2.2%2.2%1.7%2.4%5.9%-0.4%3.0%3.4%2.5%4.8% 消费电子1.4%23.7%1.2%3.6%4.1%4.8%6.3%2.4%-3.0%3.1%3.7%3.2%1.4%医药36.3%25-8.7%-10.0%-10.