A research report issued by China Merchants Securities indicates that, as of the morning of April 30, the disclosure of 2024 annual reports and 2025 first-quarter financial results for A-share listed companies is virtually complete, with a disclosure rate of 99.8%. Amidst the ongoing influence of policy implementations and technological innovation trends, the overall profit growth rate of A-shares has shifted into positive territory. Notably, the information technology and consumer services sectors have spearheaded this growth, with Technology, Media, and Telecommunications (TMT), resources, and midstream manufacturing sectors also exhibiting incremental improvements. Investors are advised to prioritize sectors characterized by robust growth rates and enhanced free cash flows.