150 A-share firms report Q3 earnings; 98 post profit growth

The read-through here is less about the aggregate 98-of-150 growth split than about where the growth is concentrated: the named leaders span batteries, auto glass, chips, surveillance and materials, so the results double as a check on whether AI compute demand is now showing up in reported profit rather than just capex plans. That distinction matters for anyone tracking how AI exposure is being priced across A-shares, since it shifts the debate from narrative to earnings quality. Whether the analyst framing of an AI capex-to-profit transition holds beyond these early reporters is the open question.