{"id":23860,"date":"2023-02-24T07:22:00","date_gmt":"2023-02-23T23:22:00","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=23860"},"modified":"2023-02-24T11:43:49","modified_gmt":"2023-02-24T03:43:49","slug":"kgi-daily-trading-ideas-24-feb-2023-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-24-feb-2023-zh\/","title":{"rendered":"2023\u5e7402\u670824\u65e5: \u6b27\u4f73\u65f6 (HG SP), \u5156\u77ff\u80fd\u6e90 (1171 HK), Enphase\u80fd\u6e90 (ENPH US)"},"content":{"rendered":"\n<p class=\"has-cyan-bluish-gray-background-color has-background wp-block-paragraph\"><a href=\"#sg\">\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350<\/a> |<a href=\"#hk\"> \u9999\u6e2f\u80a1\u7968\u63a8\u8350<\/a> | <a href=\"#us\">\u7f8e\u80a1\u63a8\u8350<\/a> | <a href=\"http:\/\/sp\">\u884c\u4e1a\u677f\u5757\u8868\u73b0<\/a> | <a href=\"#td\"> \u4ea4\u6613\u9f99\u864e\u699c<\/a> <\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"sg\"><strong><img fetchpriority=\"high\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/lh4.googleusercontent.com\/CYrMUUuiThMlTBL2F831WJCiJNEll7A2g_ReY5PuRf95HqwkBEAYAV_hQiomy0yt76jYMvZ1r9_4mH03FqcsErOGJcSlPATU7VUHv7nyIRHhlXU_TlvFgWfkHH9S6rlZ220HL6Mvc4euPVlb8OqIpyE\"><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_46zfve8szck1\"><\/a><a id=\"post-23860-_lnrpqmdkzk08\"><\/a><strong>\u6b27\u4f73\u65f6 (HG SP)\uff1a\u65f6\u95f4\u4e0d\u7b49\u4eba<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.25\uff0c\u76ee\u6807\u4ef7\uff1a2.45\uff0c\u6b62\u635f\u4ef7\uff1a2.15<\/strong>\n  <\/li><li>\n    \u6b27\u4f73\u65f6\u901a\u8fc7\u5176\u9644\u5c5e\u516c\u53f8\u96f6\u552e\u53ca\u6279\u53d1\u624b\u8868\u3001\u73e0\u5b9d\u53ca\u76f8\u5173\u4ea7\u54c1\u3002\u8be5\u516c\u53f8\u8fd8\u751f\u4ea7\u624b\u8868\u548c\u6295\u8d44\u623f\u5730\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u5efa\u7acb\u4e86\u81ea\u5df1\u4f5c\u4e3a\u4e00\u4e2a\u4e00\u6d41\u7684\u624b\u8868\u7cbe\u54c1\uff0c\u96c6\u56e2\u6269\u5c55\u5230\u4e16\u754c\u5404\u5730\u3002\u96c6\u56e2\u62e5\u6709Gerald Genta\u3001Breguet\u3001Daniel Roth\u3001Bertolucci\u3001Burberrys\u3001Christian Dior\u3001Revue Thommen\u3001\u5b87\u8236\u548cMontega\u7684\u72ec\u5bb6\u4ee3\u7406\u6743\u548c\u5206\u9500\u6743\u3002\n  <\/li><li><strong>\u4e39\u5c3c\u5c14\u00b7\u7f57\u65af\u7684\u590d\u5174\u3002<\/strong>\u8def\u6613\u5a01\u767b\u96c6\u56e2 (LVMH) \u65d7\u4e0b\u7684\u745e\u58eb\u624b\u8868\u54c1\u724c\u4e39\u5c3c\u5c14\u00b7\u7f57\u65af (Daniel Roth) \u5c06\u4ee5\u72ec\u7acb\u516c\u53f8\u7684\u8eab\u4efd\u56de\u5f52\uff0c\u5176\u7b2c\u4e00\u6b3e\u65b0\u624b\u8868\u5c06\u4e8e2023\u5e74\u53d1\u5e03\u3002\u7136\u800c\uff0c\u90a3\u4e9b\u6709\u5174\u8da3\u8d2d\u4e70\u8be5\u54c1\u724c\u624b\u8868\u7684\u4eba\u5c06\u4e0d\u5f97\u4e0d\u901a\u8fc7\u8be5\u516c\u53f8\u8d2d\u4e70\uff0c\u56e0\u4e3a\u4ed6\u4eec\u62e5\u6709\u72ec\u5bb6\u5206\u9500\u6743<strong>\u3002<\/strong>\n  <\/li><li><strong>\u540e\u75ab\u60c5\u7e41\u8363<\/strong>\u3002\u53bb\u5e74\uff0c\u7ea6\u6709630\u4e07\u6e38\u5ba2\u62b5\u8fbe\u65b0\u52a0\u5761\uff0c\u540c\u6bd4\u589e\u957f1,810.5%\u3002\u4e2d\u56fd\u4e8e2023\u5e741\u6708\u521d\u53d6\u6d88\u4e86\u6d77\u5916\u65c5\u6e38\u9650\u5236\uff0c\u9884\u8ba1\u4eca\u5e74\u6d8c\u5165\u65b0\u52a0\u5761\u7684\u4e2d\u56fd\u6e38\u5ba2\u5c06\u6fc0\u589e\u30022023\u5e741\u6708\uff0c\u65b0\u52a0\u5761\u7684\u6e38\u5ba2\u4eba\u6570\u4e3a931,500\u4eba\uff08\u540c\u6bd4\u589e\u957f1,529.3%\uff09\u3002\u6839\u636e\u4e2d\u56fd\u65c5\u884c\u793e\u6700\u8fd1\u7684\u4e00\u9879\u5e02\u573a\u8c03\u67e5\uff0c\u5728\u4e3a\u671f\u4e09\u5e74\u7684\u5c01\u9501\u4e4b\u540e\uff0c\u4e1c\u5357\u4e9a\u56fd\u5bb6\u6210\u4e3a\u6700\u53d7\u6b22\u8fce\u7684\u8de8\u5883\u65c5\u6e38\u9996\u9009\u3002\n  <\/li><li><strong>\u5962\u4f88\u54c1\u6d88\u8d39\u3002<\/strong>\u5c3d\u7ba1\u901a\u8d27\u81a8\u80c0\u7387\u4e0a\u5347\uff0c\u5229\u7387\u4e0a\u5347\uff0c\u7ecf\u6d4e\u8870\u9000\u7684\u53ef\u80fd\u6027\u8d8a\u6765\u8d8a\u5927\uff0c\u7ecf\u6d4e\u73af\u5883\u5145\u6ee1\u6311\u6218\uff0c\u4f46\u5bf9\u5962\u4f88\u54c1\u7684\u9700\u6c42\u4ecd\u7136\u4fdd\u6301\u7a33\u5b9a\u3002\u8fd9\u4e00\u9700\u6c42\u4e3b\u8981\u662f\u7531\u5bcc\u88d5\u7684\u4e2a\u4eba\u63a8\u52a8\u7684\uff0c\u4ed6\u4eec\u53d7\u76ca\u4e8e\u8fd1\u671f\u7684\u8d22\u5bcc\u79ef\u7d2f\u548c\u65b0\u51a0\u75ab\u60c5\u5c01\u9501\u671f\u95f4\u7684\u50a8\u84c4\u3002\u6b64\u5916\uff0c\u4e2d\u56fd\u6d88\u8d39\u8005\u7684\u56de\u5f52\uff08\u75ab\u60c5\u524d\u5962\u4f88\u54c1\u516c\u53f8\u7684\u4e3b\u8981\u5229\u6da6\u6765\u6e90\uff09\u9884\u8ba1\u5c06\u63d0\u632f\u8be5\u884c\u4e1a\uff0c\u53bb\u5e74\u4e2d\u56fd\u6d88\u8d39\u8005\u5c06\u6536\u5165\u7684\u4e09\u5206\u4e4b\u4e00\u50a8\u84c4\u8d77\u6765\uff0c\u5e76\u5c0617.8\u4e07\u4ebf\u5143\u4eba\u6c11\u5e01\uff082.6\u4e07\u4ebf\u7f8e\u5143\uff09\u5b58\u5165\u94f6\u884c\u3002\n  <\/li><li><strong>\u96f6\u552e\u9500\u552e\u3002<\/strong>\u65b0\u52a0\u5761\u7684\u96f6\u552e\u4e1a\u548c\u5176\u4ed6\u670d\u52a1\u884c\u4e1a\u9884\u8ba1\u5c06\u53d7\u76ca\u4e8e\u4f11\u95f2\u548c\u5546\u52a1\u822a\u7a7a\u65c5\u884c\u7684\u6301\u7eed\u590d\u82cf\u4ee5\u53ca\u4e2d\u56fd\u8fb9\u5883\u91cd\u65b0\u5f00\u653e\u3002\u65b0\u52a0\u5761\u65c5\u6e38\u5c40\u7684\u6570\u636e\u663e\u793a\uff0c2019\u5e74\u6765\u81ea\u4e2d\u56fd\u5927\u9646\u7684\u6e38\u5ba2\u6536\u5165\u4e2d\u7ea6\u670949%\u6765\u81ea\u8d2d\u7269\u3002\u6839\u636e\u65b0\u52a0\u5761\u7edf\u8ba1\u5c40\u7684\u6570\u636e\uff0c2022\u5e7412\u6708\u624b\u8868\u548c\u73e0\u5b9d\u96f6\u552e\u989d\u540c\u6bd4\u589e\u957f13.1%\uff0c\u73af\u6bd4\u589e\u957f10.8%\u3002\u9884\u8ba1\u4eca\u5e74\u4e0a\u534a\u5e74\u96f6\u552e\u8d38\u6613\u5c06\u589e\u957f8%\uff0c\u7b2c\u4e00\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u5c06\u589e\u957f2%\u3002\n  <\/li><li><strong>23\u8d22\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u5728\u622a\u81f39\u670830\u65e5\u7684\u516d\u4e2a\u6708\u91cc\uff0c\u8be5\u516c\u53f8\u6536\u5165\u4ece4.724\u4ebf\u65b0\u5143\u589e\u957f\u81f35.555\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f18%\u3002\u5c3d\u7ba1\u8fd0\u8425\u6210\u672c\u4e0a\u5347\uff0c\u4f46\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f35%\uff0c\u4ece6,260\u4e07\u65b0\u5143\u589e\u81f38,460\u4e07\u65b0\u5143\u3002\n  <\/li><li>\n    \u5e02\u573a\u5bf924\/25\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a4.35%\/4.17%\uff0c\u5bf9\u5e949.4\u500d\/9.0\u500d\u7684\u8fdc\u671f\u5e02\u76c8\u7387\u3002\u5f53\u524d\u5e02\u76c8\u7387\u4e3a8.7\u500d\uff0c5\u5e74\u5386\u53f2\u5e02\u76c8\u7387\u4e3a8.8\u500d\u3002\n  <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1230\" height=\"722\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-421.png\" alt=\"\" class=\"wp-image-23897\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-421.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-421-300x176.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-421-1024x601.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-421-768x451.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_9ctm8ukw9e4m\"><\/a><strong><img decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-422.png\" class=\"wp-image-23898\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-422.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-422-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_nt6ly92rxrmk\"><\/a><strong>\u73cd\u5b9d\u96c6\u56e2 (42R SP)\uff1a\u590d\u82cf\u4e4b\u5e74<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.310\uff0c\u76ee\u6807\u4ef7\uff1a0.335\uff0c\u6b62\u635f\u4ef7\uff1a0.300<\/strong>\n  <\/li><li>\n    \u516c\u53f8\u662f\u4e00\u5bb6\u6d77\u9c9c\u9910\u996e\u96c6\u56e2\uff0c\u63d0\u4f9b\u591a\u79cd\u9910\u996e\u7406\u5ff5\uff0c\u4ee5\u6ee1\u8db3\u5404\u7c7b\u6d88\u8d39\u8005\u7684\u9700\u6c42\u3002\u8be5\u516c\u53f8\u5728\u65b0\u52a0\u5761\u3001\u4e2d\u56fd\u548c\u65e5\u672c\u8bbe\u6709\u9910\u5385\u3002\n  <\/li><li><strong>\u4e2d\u56fd\u7684\u91cd\u65b0\u5f00\u653e\u3002<\/strong>\u4e2d\u56fd\u6700\u8fd1\u521a\u521a\u5ba3\u5e03\u5411\u56fd\u9645\u6e38\u5ba2\u91cd\u65b0\u5f00\u653e\u8fb9\u5883\u3002\u56fd\u5185\u548c\u56fd\u9645\u6e38\u5ba2\u9884\u8ba1\u5728\u672a\u6765\u51e0\u4e2a\u5b63\u5ea6\u5c06\u4f1a\u589e\u52a0\u3002\u4e2d\u56fd\u662f\u73cd\u5b9d\u96c6\u56e2\u7684\u4e3b\u8981\u5e02\u573a\u4e4b\u4e00\uff0c\u5728\u4e2d\u56fd\u62e5\u67093\u4e2a\u54c1\u724c\u548c10\u5bb6\u95e8\u5e97\u3002\u4e2d\u56fd\u56fd\u9645\u65c5\u6e38\u7684\u589e\u957f\u80af\u5b9a\u4f1a\u4e3a\u8be5\u516c\u53f8\u5e26\u6765\u6536\u5165\u3002\n  <\/li><li><strong>\u65b0\u52a0\u5761\u65c5\u6e38\u4e1a\u72b6\u51b5\u6539\u5584\u3002<\/strong>\u968f\u7740\u56fd\u9645\u8fb9\u754c\u7684\u91cd\u65b0\u5f00\u653e\uff0c\u65b0\u52a0\u5761\u518d\u6b21\u6210\u4e3a\u5168\u7403\u6e38\u5ba2\u7684\u70ed\u70b9\u3002\u65b0\u52a0\u57611\u6708\u4efd\u7684\u56fd\u9645\u6e38\u5ba2\u4eba\u6570\u4e0a\u5347\u81f3931,530\u4eba\uff0c\u521b\u4e0b\u75ab\u60c5\u7206\u53d1\u4ee5\u6765\u7684\u65b0\u7eaa\u5f55\u3002\u65b0\u52a0\u5761\u7684\u65c5\u6e38\u4e1a\u590d\u82cf\u9884\u8ba1\u5c06\u57282024\u5e74\u6062\u590d\u5230\u65b0\u51a0\u75ab\u60c5\u524d\u7684\u6c34\u5e73\u3002\u516c\u53f8\u5c06\u80fd\u591f\u5229\u7528\u8fd9\u4e00\u590d\u82cf\uff0c\u56e0\u4e3a\u66f4\u591a\u7684\u65b0\u52a0\u5761\u6e38\u5ba2\u5c06\u4e3a\u96c6\u56e2\u7684\u65b0\u52a0\u5761\u9910\u5385\u5e26\u6765\u66f4\u591a\u6536\u5165\u3002\n  <\/li><li><strong>\u516c\u53f8\u524d\u666f\u3002<\/strong>\u8be5\u516c\u53f8\u7684\u524d\u666f\u662f\u4e50\u89c2\u7684\uff0c\u56e0\u4e3a\u968f\u7740\u8d8a\u6765\u8d8a\u591a\u7684\u56fd\u5bb6\u6446\u8131\u75ab\u60c5\uff0c\u65c5\u6e38\u6c34\u5e73\u4e0a\u5347\uff0c\u4ed6\u4eec\u770b\u5230\u5176\u5173\u952e\u5e02\u573a\u7684\u6d88\u8d39\u8005\u9700\u6c42\u6709\u6240\u589e\u52a0\u3002\u7531\u4e8e\u9ad8\u901a\u80c0\u548c\u5229\u7387\u5f71\u54cd\u6d88\u8d39\u8005\u9700\u6c42\uff0c\u4e25\u9177\u7684\u5b8f\u89c2\u7ecf\u6d4e\u73af\u5883\u53ef\u80fd\u4f1a\u5e26\u6765\u4e00\u4e9b\u6311\u6218\uff0c\u4f46\u8fd9\u4f1a\u572823\u8d22\u5e74\u4e0b\u534a\u5e74\u51fa\u73b0\u8f6c\u673a\u3002\u8fd9\u8868\u660e\uff0c\u8be5\u516c\u53f8\u7684\u4e1a\u7ee9\u5f88\u53ef\u80fd\u5728\u4e0d\u4e45\u7684\u5c06\u6765\u7ee7\u7eed\u6539\u5584\u3002\n  <\/li><li><strong>\u516c\u53f8\u524d\u666f\u3002<\/strong>\u516c\u53f8\u7684\u524d\u666f\u662f\u79ef\u6781\u7684\uff0c\u56e0\u4e3a\u7ba1\u7406\u5c42\u770b\u5230\u4e86\u8ba2\u5355\u7684\u589e\u52a0\uff0c\u8fd9\u662f\u7531\u4e8e\u77f3\u6cb9\u548c\u5929\u7136\u6c14\u4ef7\u683c\u9ad8\u4f01\u3001\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u5bfc\u81f4\u5bf9\u80fd\u6e90\u5b89\u5168\u7684\u91cd\u65b0\u5173\u6ce8\u4ee5\u53ca\u5411\u53ef\u518d\u751f\u80fd\u6e90\u7684\u8f6c\u53d8\u7b49\u56e0\u7d20\u7684\u7efc\u5408\u4f5c\u7528\u3002\u8fd9\u8868\u660e\uff0c\u516c\u53f8\u7684\u4e1a\u7ee9\u5f88\u53ef\u80fd\u5728\u4e0d\u4e45\u7684\u5c06\u6765\u7ee7\u7eed\u6539\u5584\u3002\n  <\/li><li>\n    \u5e02\u573a\u5bf923\/24\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a0.013\u65b0\u5143\/0.017\u65b0\u5143\u3002\u5f6d\u535a\u4e00\u81f4\u8ba4\u4e3a12\u4e2a\u6708\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a<strong>0.35\u65b0\u5143\u3002<\/strong>\n  <\/li><\/ul>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  <img loading=\"lazy\" decoding=\"async\" width=\"1230\" height=\"704\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-423.png\" class=\"wp-image-23899\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-423.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-423-300x172.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-423-1024x586.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-423-768x440.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/>\n  (Source: Bloomberg)<a id=\"post-23860-_fta74n2d3net\"><\/a>\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_9wxubztuez7y\"><\/a><strong><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-424.png\" class=\"wp-image-23900\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-424.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-424-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/strong><a id=\"post-23860-_amcnmqkifzvy\"><\/a><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\"><a id=\"post-23860-_f3bvj0c8rd86\"><\/a><strong><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-425.png\" class=\"wp-image-23901\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-425.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-425-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_og6wzwvnsa5b\"><\/a><a id=\"post-23860-_ukr25f10un20\"><\/a><strong>\u5156\u77ff\u80fd\u6e90 (1171 HK)\uff1a\u9884\u671f\u6709\u5b63\u8282\u6027\u53cd\u5f39<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u91cd\u7533\u4e70\u5165\u4ef7\uff1a23.1\uff0c\u76ee\u6807\u4ef7\uff1a26.0\uff0c\u6b62\u635f\u4ef7\uff1a21.5<\/strong>\n  <\/li><li>\n    \u5156\u77ff\u80fd\u6e90\u96c6\u56e2\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\u7684\u4ee5\u7164\u70ad\u3001\u7164\u5316\u5de5\u4e3a\u57fa\u7840\u7684\u56fd\u9645\u6027\u7efc\u5408\u80fd\u6e90\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u901a\u8fc7\u4e94\u4e2a\u90e8\u95e8\u5f00\u5c55\u4e1a\u52a1\u3002\u91c7\u77ff\u4e1a\u52a1\u90e8\u95e8\u4ece\u4e8b\u5730\u4e0b\u53ca\u9732\u5929\u7164\u70ad\u5f00\u91c7\u3001\u6d17\u9009\u52a0\u5de5\u53ca\u9500\u552e\u548c\u94be\u77ff\u52d8\u63a2\u3002\u667a\u6167\u7269\u6d41\u90e8\u95e8\u63d0\u4f9b\u94c1\u8def\u8fd0\u8f93\u670d\u52a1\u3002\u7535\u529b\u53ca\u4f9b\u70ed\u4e1a\u52a1\u90e8\u95e8\u63d0\u4f9b\u7535\u529b\u548c\u76f8\u5173\u4f9b\u70ed\u4e1a\u52a1\u3002\u88c5\u5907\u5236\u9020\u90e8\u95e8\u4ece\u4e8b\u7efc\u5408\u7164\u70ad\u5f00\u91c7\u548c\u6316\u6398\u8bbe\u5907\u7684\u5236\u9020\u3002\u5316\u5de5\u4ea7\u54c1\u90e8\u95e8\u4ece\u4e8b\u5316\u5de5\u4ea7\u54c1\u7684\u751f\u4ea7\u53ca\u9500\u552e\u3002\u8be5\u516c\u53f8\u7164\u70ad\u4ea7\u54c1\u4e3b\u8981\u5305\u62ec\u52a8\u529b\u7164\u3001\u55b7\u5439\u7164\uff08PCI\uff09\u3001\u7126\u7164\uff0c\u9002\u7528\u4e8e\u7535\u529b\u3001\u51b6\u91d1\u53ca\u5316\u5de5\u7b49\u884c\u4e1a\u3002\u7164\u70ad\u4ea7\u54c1\u4e3b\u8981\u5e02\u573a\u5305\u62ec\u4e2d\u56fd\u7684\u534e\u4e1c\u3001\u534e\u5317\u3001\u534e\u5357\u3001\u897f\u5317\u7b49\u5730\u533a\u53ca\u65e5\u672c\u3001\u97e9\u56fd\u3001\u65b0\u52a0\u5761\u3001\u6fb3\u5927\u5229\u4e9a\u7b49\u56fd\u5bb6\u3002\u7164\u5316\u5de5\u4ea7\u54c1\u4e3b\u8981\u5305\u62ec\u7532\u9187\u3001\u4e59\u4e8c\u9187\u3001\u918b\u9178\u3001\u918b\u9178\u4e59\u916f\u3001\u7c97\u6db2\u4f53\u8721\u7b49\uff0c\u4e3b\u8981\u9500\u5f80\u4e2d\u56fd\u7684\u534e\u5317\u3001\u534e\u4e1c\u3001\u897f\u5317\u7b49\u5730\u533a\u3002\n  <\/li><li><strong>\u7164\u70ad\u4ef7\u683c\u3002<\/strong>\u53d7\u5b63\u8282\u6027\u8865\u5e93\u5b58\u548c\u51b6\u70bc\u6d3b\u52a8\u6062\u590d\u7684\u63a8\u52a8\uff0c\u7126\u7164\u53cd\u5f39\u81f3\u4e09\u4e2a\u6708\u9ad8\u70b91958\u5143\/\u5428\u3002\u94dd\u3001\u94dc\u548c\u94a2\u94c1\u7b49\u57fa\u672c\u91d1\u5c5e\u57282023\u5e74\u6709\u4e86\u4e00\u4e2a\u826f\u597d\u7684\u5f00\u7aef\uff0c\u5f53\u65f6\u4e2d\u56fd\u6b63\u5728\u6062\u590d\u57fa\u7840\u8bbe\u65bd\u6269\u5f20\u5e76\u62ef\u6551\u623f\u5730\u4ea7\u5e02\u573a\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u52a8\u529b\u7164\u4ef7\u683c\u6301\u5e73\u4e8e800\u5143\/\u5428\u3002\u7535\u5382\u5c06\u57283\u6708\/ 4\u6708\u8865\u5145\u52a8\u529b\u7164\u5e93\u5b58\uff0c\u56e0\u6b64\uff0c\u4ef7\u683c\u9884\u8ba1\u5c06\u51fa\u73b0\u5b63\u8282\u6027\u53cd\u5f39\u3002\n  <\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4e2d\u56fd\u7126\u7164\u4ef7\u683c\u8868\u73b0<\/strong>\n<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  <img loading=\"lazy\" decoding=\"async\" width=\"1230\" height=\"742\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-426.png\" class=\"wp-image-23902\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-426.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-426-300x181.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-426-1024x618.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-426-768x463.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/>\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4e2d\u56fd\u52a8\u529b\u7164\u4ef7\u683c\u8868\u73b0<\/strong>\n<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  <img loading=\"lazy\" decoding=\"async\" width=\"1230\" height=\"742\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-427.png\" class=\"wp-image-23903\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-427.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-427-300x181.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-427-1024x618.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-427-768x463.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/>\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u5b63\u8282\u6027\u8868\u73b0\u3002<\/strong>\u4ece\u8fc7\u53bb15\u5e74\u7684\u4e1a\u7ee9\u6765\u770b\uff0c\u5156\u77ff\u57283 \u2013 4\u6708\u4efd\u7164\u70ad\u8865\u5e93\u5b58\u671f\u95f4\u8868\u73b0\u8f83\u597d\u3002\n  <\/li><\/ul>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>\u8fc7\u53bb15\u5e74\u7684\u6708\u56de\u62a5\u7387<\/strong>\n  <img loading=\"lazy\" decoding=\"async\" width=\"1183\" height=\"647\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-428.png\" class=\"wp-image-23904\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-428.png 1183w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-428-300x164.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-428-1024x560.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-428-768x420.png 768w\" sizes=\"(max-width: 1183px) 100vw, 1183px\" \/>\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>22\u8d22\u5e74\u9884\u4f30\u4e1a\u7ee9\u3002<\/strong>\u516c\u53f8\u9884\u8ba1\u5b9e\u73b0\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u51c0\u5229\u6da6\u7ea6\u4eba\u6c11\u5e01308\u4ebf\u5143\uff0c\u8f8321\u8d22\u5e74\u7684\u4eba\u6c11\u5e01162.59\u4ebf\u5143\u540c\u6bd4\u589e\u52a0\u7ea6\u4eba\u6c11\u5e01145\u4ebf\u5143\u6216\u7ea689%\u3002\n  <\/li><li>\n    \u5e02\u573a\u5bf923\/24\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u540c\u6bd4\u589e\u957f\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a-7.7%\/-6.1%\uff0c\u5bf9\u5e943.2\u500d\/3.4\u500d\u7684\u9884\u671f\u5e02\u76c8\u7387\u3002\u5f53\u524d\u5e02\u76c8\u7387\u4e3a3.2\u500d\u3002\u9884\u671f23\/24\u8d22\u5e74\u80a1\u606f\u6536\u76ca\u7387\u5206\u522b\u4e3a17.5%\/16.75%\u3002\u5f6d\u535a(Bloomberg)\u4e00\u81f4\u8ba4\u4e3a12\u4e2a\u6708\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a<strong>26.94\u6e2f\u5143\u3002<\/strong>\n  <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1230\" height=\"723\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-429.png\" alt=\"\" class=\"wp-image-23905\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-429.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-429-300x176.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-429-1024x602.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-429-768x451.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_uruob7qw6vlq\"><\/a><strong><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-430.png\" class=\"wp-image-23906\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-430.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-430-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_f4jzoy9n4pb2\"><\/a><strong>\u4e2d\u56fd\u5efa\u7b51\u56fd\u9645 (3311 HK)\uff1a\u6269\u5927\u57fa\u7840\u8bbe\u65bd\u5efa\u8bbe\u4ee5\u652f\u6491\u7ecf\u6d4e\u590d\u82cf<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u91cd\u7533\u4e70\u5165\u4ef7\uff1a9.5\uff0c\u76ee\u6807\u4ef7\uff1a10.5\uff0c\u6b62\u635f\u4ef7\uff1a9.0<\/strong>\n  <\/li><li>\n    \u4e2d\u56fd\u5efa\u7b51\u56fd\u9645\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u6295\u8d44\u63a7\u80a1\u516c\u53f8\uff0c\u4e3b\u8981\u4ece\u4e8b\u5efa\u7b51\u5de5\u7a0b\u5408\u7ea6\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u8fd8\u4ece\u4e8b\u57fa\u5efa\u9879\u76ee\u6295\u8d44\u4e1a\u52a1\u3001\u5916\u5899\u5de5\u7a0b\u4e1a\u52a1\u53ca\u57fa\u5efa\u8425\u8fd0\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u56db\u4e2a\u4e1a\u52a1\u90e8\u95e8\u8fd0\u8425\uff1a\u9999\u6e2f\u90e8\u3001\u4e2d\u56fd\u5185\u5730\u90e8\u3001\u6fb3\u95e8\u90e8\u53ca\u6d77\u5916\u90e8\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u5176\u5b50\u516c\u53f8\u8fd8\u4ece\u4e8b\u697c\u5b87\u5efa\u7b51\u3001\u571f\u6728\u5de5\u7a0b\u53ca\u57fa\u7840\u5de5\u7a0b\u4e1a\u52a1\u3002\n  <\/li><li><strong>\u57fa\u5efa\u590d\u82cf\u3002<\/strong>\u81ea\u53bb\u5e7412\u6708\u653e\u677eCOVID-19\u63a7\u5236\u540e\uff0c\u4e2d\u56fd\u653f\u5e9c\u5df2\u5c06\u91cd\u70b9\u8f6c\u5411\u57fa\u7840\u8bbe\u65bd\u6295\u8d44\u4ee5\u523a\u6fc0\u7ecf\u6d4e\u589e\u957f\u3002\u6625\u8282\u5047\u671f\u540e\uff0c\u4e2d\u56fd\u5404\u5730\u7684\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\u5df2\u7ecf\u6062\u590d\uff0c\u603b\u8ba174\u4ebf\u7f8e\u5143\u7684\u91cd\u5927\u9879\u76ee\u5df2\u7ecf\u5728\u8fdb\u884c\u4e2d\u3002\u56fd\u5bb6\u53d1\u5c55\u548c\u6539\u9769\u59d4\u5458\u4f1a\u5df2\u6279\u51c6\u56fa\u5b9a\u8d44\u4ea7\u6295\u8d44\u9879\u76ee109\u4e2a\uff0c\u603b\u989d1.48\u4e07\u4ebf\u5143\uff0c\u6d89\u53ca\u4ea4\u901a\u3001\u80fd\u6e90\u3001\u6c34\u5229\u7b49\u9886\u57df\u30022022\u5e74\uff0c\u4e2d\u56fd\u56fa\u5b9a\u8d44\u4ea7\u6295\u8d44\u589e\u957f5.1%\uff0c\u5176\u4e2d\u57fa\u7840\u8bbe\u65bd\u548c\u5236\u9020\u4e1a\u6295\u8d44\u5206\u522b\u589e\u957f9.4%\u548c9.1%\u3002\u4e13\u5bb6\u9884\u6d4b\uff0c2023\u5e74\uff0c\u57fa\u7840\u8bbe\u65bd\u6295\u8d44\u5c06\u7ee7\u7eed\u5728\u63a8\u52a8\u7ecf\u6d4e\u589e\u957f\u65b9\u9762\u53d1\u6325\u4e3b\u5bfc\u4f5c\u7528\u3002\n  <\/li><li><strong>\u6570\u5b57\u57fa\u7840\u8bbe\u65bd\u548c\u6280\u672f\u6295\u8d44\u3002<\/strong>\u9884\u8ba1\u4eca\u5e74\u4e2d\u56fd\u5c06\u589e\u52a0\u57285G\u901a\u4fe1\u3001\u5206\u5e03\u5f0f\u7535\u7f51\u548c\u8ba1\u7b97\u80fd\u529b\u65b9\u9762\u7684\u6295\u8d44\u3002\u6df1\u5733\u4e5f\u88ab\u79f0\u4e3a\u4e2d\u56fd\u7684\u7845\u8c37\uff0c\u4f5c\u4e3a\u57fa\u7840\u8bbe\u65bd\u6269\u5efa\u8ba1\u5212\u7684\u4e00\u90e8\u5206\uff0c\u8ba1\u5212\u589e\u52a01\u4e07\u4e2a5G\u57fa\u7ad9\uff0c\u8fd9\u4e0e\u4e2d\u56fd\u653f\u5e9c\u63a8\u8fdb\u56fd\u51855G\u57fa\u7840\u8bbe\u65bd\u53d1\u5c55\u7684\u52aa\u529b\u662f\u4e00\u81f4\u7684\u3002\u6df1\u5733\u7684\u76ee\u6807\u662f\u901a\u8fc7\u52a0\u5f3a\u4e92\u8054\u7f51\u8fde\u63a5\u548c\u6570\u5b57\u7ecf\u6d4e\u6d3b\u52a8\uff0c\u6210\u4e3a\u4e2d\u56fd\u5185\u5730\u7f51\u901f\u6700\u9ad8\u7684\u57ce\u5e02\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u4e16\u754c\u4e0a\u6700\u5927\u7684iPhone\u5de5\u5382\u6240\u5728\u5730\u6cb3\u5357\u7701\u6b63\u5728\u6295\u8d4473.9\u4ebf\u7f8e\u5143\u7528\u4e8e\u6570\u5b57\u57fa\u7840\u8bbe\u65bd\u6269\u5f20\u8ba1\u5212\uff0c\u4ee5\u63d0\u5347\u5176\u4ea7\u4e1a\u7684\u4ef7\u503c\u94fe\u3002\u8be5\u8ba1\u5212\u91cd\u70b9\u5173\u6ce8\u5148\u8fdb\u8ba1\u7b97\u3001\u536b\u661f\u901a\u4fe1\u3001\u96c6\u6210\u7535\u8def\u3001\u4eba\u5de5\u667a\u80fd\u3001\u6570\u5b57\u5e73\u53f0\u548c5G\u7684\u53d1\u5c55\uff0c\u9075\u5faa\u56fd\u52a1\u9662\u52a0\u5f3a\u4e2d\u56fd\u6570\u5b57\u7ecf\u6d4e\u7684\u627f\u8bfa\u3002\n  <\/li><li><strong>\u9999\u6e2f\u5bf9\u516c\u5171\u623f\u5c4b\u7684\u9700\u6c42\u3002<\/strong>\u9999\u6e2f\u653f\u5e9c\u8ba1\u5212\u6295\u8d44260\u4ebf\u6e2f\u5143\u57288\u5757\u571f\u5730\u4e0a\u5efa\u9020\u4e34\u65f6\u516c\u5bd3\uff0c\u4ee5\u7f29\u77ed\u516c\u5c4b\u7684\u7b49\u5019\u65f6\u95f4\u3002\u8f7b\u578b\u516c\u5171\u4f4f\u623f\u5355\u5143\u5c06\u91c7\u7528\u6a21\u5757\u5316\u5efa\u7b51\uff0c\u9762\u79ef\u5c06\u572813-31\u5e73\u65b9\u7c73\u4e4b\u95f4\u3002\u76ee\u7684\u662f\u5c06\u516c\u5c4b\u8f6e\u5019\u65f6\u95f4\u75315.6\u5e74\u7f29\u77ed\u81f34.5\u5e74\u3002\u653f\u5e9c\u4e5f\u63a8\u51fa\u4e86\u4e00\u4e2a\u7c7b\u4f3c\u7684\u5021\u8bae\uff0c\u79f0\u4e3a\u8fc7\u6e21\u6027\u4f4f\u623f\u3002\n  <\/li><li><strong>22\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u8425\u6536\u540c\u6bd4\u589e\u957f38.9%\uff0c\u4ece2021\u5e74\u768452.8\u4ebf\u6e2f\u5143\u589e\u957f\u81f373.4\u4ebf\u6e2f\u5143\u3002\u96c6\u56e2\u5f55\u5f97\u7684\u65b0\u5408\u540c\u7d2f\u8ba1\u4ef7\u503c\u7ea6\u4e3a1,257.4\u4ebf\u6e2f\u5143\uff0c\u800c\u79ef\u538b\u5408\u540c\u4ef7\u503c\u7ea6\u4e3a2,991.8\u4ebf\u6e2f\u5143\u3002\n  <\/li><li>\n    \u5e02\u573a\u5bf922\/23\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u540c\u6bd4\u589e\u957f\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a15.8%\/14.2%\uff0c\u5bf9\u5e94\u8fdc\u671f\u5e02\u76c8\u7387\u4e3a6.1\u500d\/5.3\u500d\u3002\u5f53\u524d\u5e02\u76c8\u7387\u4e3a6.4\u500d\u300223\/24\u8d22\u5e74\u9884\u671f\u80a1\u606f\u6536\u76ca\u7387\u5206\u522b\u4e3a4.9%\/5.7%\u3002\u5f6d\u535a(Bloomberg)\u4e00\u81f4\u8ba4\u4e3a12\u4e2a\u6708\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a<strong>12.63\u6e2f\u5143\u3002<\/strong>\n  <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1230\" height=\"704\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-431.png\" alt=\"\" class=\"wp-image-23907\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-431.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-431-300x172.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-431-1024x586.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-431-768x440.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-432.png\" alt=\"\" class=\"wp-image-23908\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-432.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-432-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"us\"><a id=\"post-23860-_6xzuwbi3dcr\"><\/a><strong><img loading=\"lazy\" decoding=\"async\" width=\"827\" height=\"105\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-433.png\" class=\"wp-image-23909\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-433.png 827w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-433-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-433-768x98.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_z4oubt56laqc\"><\/a><a id=\"post-23860-_dk9enxpzjg9d\"><\/a><strong>Enphase\u80fd\u6e90 (ENPH US): \u8868\u73b0\u6ede\u540e<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u4e70\u5165\u4ef7\uff1a200\uff0c\u76ee\u6807\u4ef7\uff1a240\uff0c\u6b62\u635f\u4ef7\uff1a180<\/strong>\n  <\/li><li>\n    Enphase\u80fd\u6e90\u516c\u53f8\u751f\u4ea7\u592a\u9633\u80fd\u8bbe\u5907\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u5bb6\u5ead\u548c\u5546\u4e1a\u592a\u9633\u80fd\u548c\u5b58\u50a8\u89e3\u51b3\u65b9\u6848\u3002Enphase Energy\u7684\u5927\u90e8\u5206\u6536\u5165\u6765\u81ea\u7f8e\u56fd\u3002\n  <\/li><li><strong>\u6269\u5927\u5df4\u897f\u7684\u592a\u9633\u80fd\u5f00\u53d1\u3002<\/strong>Enphase\u62a5\u544a\u79f0\uff0c\u5df4\u897f\u4f4f\u5b85\u592a\u9633\u80fd\u7cfb\u7edf\u7684\u5b89\u88c5\u6570\u91cf\u6fc0\u589e\u3002\u9884\u8ba1\u52302023\u5e74\uff0c\u5df4\u897f\u7684\u592a\u9633\u80fd\u4ea7\u80fd\u5c06\u589e\u52a010\u5409\u74e6\uff0c\u6bd4\u76ee\u524d\u7684\u4ea7\u80fd\u5927\u5e45\u589e\u957f52%\u3002\n  <\/li><li><strong>\u521b\u65b0\u6280\u672f\u3002<\/strong>\u8be5\u516c\u53f8\u63a8\u51fa\u4e86\u4e00\u79cd\u5c06\u7535\u52a8\u6c7d\u8f66\u5145\u7535\u4e0e\u592a\u9633\u80fd\u5bb6\u5ead\u80fd\u6e90\u7cfb\u7edf\u96c6\u6210\u5728\u4e00\u8d77\u7684\u53cc\u5411\u7cfb\u7edf\u3002\u8fd9\u9879\u6280\u672f\u5c06\u4f7f\u7535\u52a8\u6c7d\u8f66\u5728\u505c\u7535\u671f\u95f4\u4e3a\u5bb6\u5ead\u4f9b\u7535\uff0c\u5e76\u5728\u9ad8\u9700\u6c42\u65f6\u671f\u63d0\u4f9b\u7535\u7f51\u652f\u6301\u3002\u8be5\u7cfb\u7edf\u7684\u96c6\u6210\u5c06\u5141\u8bb8\u7528\u6237\u66f4\u597d\u5730\u63a7\u5236\u4ed6\u4eec\u7684\u7528\u7535\u91cf\u3002\n  <\/li><li><strong>\u6269\u5927\u5728\u6b27\u6d32\u7684\u4ea7\u54c1\u4f9b\u5e94\u3002<\/strong>Enphase\u5ba3\u5e03\u4e0e\u5fb7\u56fdEnerix\u5efa\u7acb\u6218\u7565\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u5411\u5176\u904d\u5e03\u5fb7\u56fd\u548c\u5965\u5730\u5229\u7684100\u591a\u5bb6\u7279\u8bb8\u7ecf\u8425\u5408\u4f5c\u4f19\u4f34\u7f51\u7edc\u63d0\u4f9b\u7531IQ\u5fae\u9006\u53d8\u5668\u548cIQ\u7535\u6c60\u4f9b\u7535\u7684Enphase\u80fd\u6e90\u7cfb\u7edf\u3002\u8be5\u516c\u53f8\u6700\u8fd1\u5f00\u59cb\u5411\u5965\u5730\u5229\u7684\u5ba2\u6237\u8fd0\u9001IQ\u7535\u6c60\uff0c\u5e76\u5728\u6bd4\u5229\u65f6\u3001\u5fb7\u56fd\u548c\u5317\u7f8e\u62e5\u6709\u73b0\u6709\u5ba2\u6237\u3002\u6b64\u5916\uff0cEnphase\u901a\u8fc7\u4e0e\u7f57\u9a6c\u5c3c\u4e9a\u7684Flex\u5408\u4f5c\uff0c\u63d0\u9ad8\u4e86\u5176\u5236\u9020\u80fd\u529b\uff0c\u540e\u8005\u73b0\u5728\u5c06\u5411\u6b27\u6d32\u5e02\u573a\u4f9b\u5e94\u5176\u5fae\u578b\u9006\u53d8\u5668\u3002\u56e0\u6b64\uff0c\u4f7fEnphase\u80fd\u591f\u6ee1\u8db3\u8be5\u5730\u533a\u5bf9\u5176\u4ea7\u54c1\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\uff0c\u540c\u65f6\u4e5f\u63d0\u9ad8\u4e86\u5176\u4f9b\u5e94\u94fe\u6548\u7387\u3002\n  <\/li><li><strong>\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u8425\u6536\u540c\u6bd4\u589e\u957f75.6%\uff0c\u8fbe\u52307.247\u4ebf\u7f8e\u5143\u3002\u6bdb\u5229\u7387\u4e3a43.8%\u3002\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f33.7%\uff0c\u4ece1.150\u4ebf\u7f8e\u5143\u589e\u81f31.538\u4ebf\u7f8e\u5143\u3002Non-GAAP\u6bcf\u80a1\u6536\u76ca\u4e3a1.51\u7f8e\u5143\u3002\n  <\/li><li>\n    \u5e02\u573a\u5bf923\/24\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u589e\u957f\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a17.1%\/32.1%\uff0c\u5bf9\u5e9437.6\u500d\/28.5\u500d\u7684\u9884\u671f\u5e02\u76c8\u7387\u3002\u5f53\u524d\u5e02\u76c8\u7387\u4e3a72.9\u500d\u3002\u5f6d\u535a\u793e\u4e00\u81f4\u8ba4\u4e3a12\u4e2a\u6708\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a<strong>292.23\u7f8e\u5143\u3002<\/strong>\n  <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1230\" height=\"722\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-434.png\" alt=\"\" class=\"wp-image-23910\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-434.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-434-300x176.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-434-1024x601.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-434-768x451.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-435.png\" alt=\"\" class=\"wp-image-23911\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-435.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-435-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_ef23huhkl8cc\"><\/a><a id=\"post-23860-_8p62aibms3i4\"><\/a><strong>Cloudflare Inc (NET US): \u4e00\u53eaChatGPT\u4e3b\u9898\u80a1 <\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u91cd\u7533\u4e70\u5165\u4ef7\uff1a60.0\uff0c\u76ee\u6807\u4ef7\uff1a72.0\uff0c\u6b62\u635f\u4ef7\uff1a54.0<\/strong>\n  <\/li><li>\n    Cloudflare, Inc.\u8bbe\u8ba1\u548c\u5f00\u53d1\u8f6f\u4ef6\u89e3\u51b3\u65b9\u6848\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u8d1f\u8f7d\u5e73\u8861\u3001\u89c6\u9891\u6d41\u3001\u5b89\u5168\u3001\u5206\u6790\u548c\u57df\u540d\u6ce8\u518c\u5e73\u53f0\u3002Cloudflare\u4e3a\u5168\u7403\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002\n  <\/li><li><strong>ChatGPT\u7092\u4f5c\u3002<\/strong>\u9769\u547d\u6027\u7684\u5e94\u7528ChatGPT\u5f15\u53d1\u4e86\u4eba\u5de5\u667a\u80fd\u7092\u4f5c\u7684\u65b0\u6d6a\u6f6e\u3002ChatGPT\u7684\u5f00\u53d1\u8005Open AI\u662fCloudflare\u7684\u5ba2\u6237\u4e4b\u4e00\u3002\u300a\u8d22\u5bcc\u300b500\u5f3a\u4f01\u4e1a\u4e2d\u6709\u4e09\u5206\u4e4b\u4e00\u4e5f\u8ba2\u9605\u4e86Cloudflare\u7684\u670d\u52a1\u3002\n  <\/li><li><strong>\u4e92\u8054\u7f51\u5b89\u5168\u9700\u6c42\u4e0d\u65ad\u589e\u957f\u3002<\/strong>\u968f\u7740\u8d8a\u6765\u8d8a\u591a\u7684\u4f01\u4e1a\u548c\u4e2a\u4eba\u5c06\u4e1a\u52a1\u8f6c\u79fb\u5230\u7f51\u4e0a\uff0c\u5bf9\u5f3a\u5927\u7684\u4e92\u8054\u7f51\u5b89\u5168\u89e3\u51b3\u65b9\u6848\u7684\u9700\u6c42\u53ea\u4f1a\u589e\u52a0\u3002Cloudflare\u7684\u5b89\u5168\u4ea7\u54c1\u5957\u4ef6\uff0c\u5982DDoS\u4fdd\u62a4\u548cweb\u5e94\u7528\u9632\u706b\u5899\uff0c\u9700\u6c42\u5f88\u9ad8\uff0c\u8be5\u516c\u53f8\u5df2\u7ecf\u80fd\u591f\u5229\u7528\u8fd9\u4e2a\u4e0d\u65ad\u589e\u957f\u7684\u5e02\u573a\u3002\n  <\/li><li><strong>\u591a\u6837\u5316\u7684\u4ea7\u54c1\u4f9b\u5e94\u3002<\/strong>\u9664\u4e86\u5b89\u5168\u4ea7\u54c1\uff0cCloudflare\u8fd8\u63d0\u4f9b\u4e00\u7cfb\u5217\u5176\u4ed6\u670d\u52a1\uff0c\u5982\u5185\u5bb9\u5206\u53d1\u7f51\u7edc(CDN)\u548c\u57df\u540d\u7cfb\u7edf(DNS)\u670d\u52a1\u3002\u8fd9\u79cd\u591a\u5143\u5316\u4f7fCloudflare\u51cf\u5c11\u4e86\u5bf9\u4efb\u4f55\u5355\u4e00\u4ea7\u54c1\u6216\u670d\u52a1\u7684\u4f9d\u8d56\uff0c\u5e76\u4e3a\u8be5\u516c\u53f8\u63d0\u4f9b\u4e86\u591a\u79cd\u6536\u5165\u6765\u6e90\u3002\n  <\/li><li><strong>\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u8425\u6536\u540c\u6bd4\u589e\u957f41.9%\u81f32.747\u4ebf\u7f8e\u5143\u3002Non-GAAP\u6bdb\u5229\u4e3a2.125\u4ebf\u7f8e\u5143\uff0c\u6bdb\u5229\u7387\u4e3a77.4%\u3002Non-GAAP\u6bcf\u80a1\u6536\u76ca\u4e3a0.06\u7f8e\u5143\u3002\n  <\/li><li>\n    \u5e02\u573a\u5bf923\/24\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u589e\u957f\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a28.0%\/49.5%\uff0c\u5bf9\u5e94388.3\u500d\/258.8\u500d\u8fdc\u671f\u5e02\u76c8\u7387\u3002\u5f53\u524d\u5e02\u76c8\u7387\u4e3a388.3\u500d\u3002\u5f6d\u535a\u793e\u4e00\u81f4\u8ba4\u4e3a12\u4e2a\u6708\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a<strong>69.54\u7f8e\u5143\u3002<\/strong>\n  <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1230\" height=\"724\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-436.png\" alt=\"\" class=\"wp-image-23912\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-436.png 1230w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-436-300x177.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-436-1024x603.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-436-768x452.png 768w\" sizes=\"(max-width: 1230px) 100vw, 1230px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)<a id=\"post-23860-_w81mirmnibw\"><\/a>\n<\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\">^ Back To Top<\/a> <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-23860-_va9jaog5jnw3\"><\/a><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-437.png\" class=\"wp-image-23913\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-437.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-437-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/h3>\n\n\n\n<figure class=\"wp-block-image\" id=\"sp\"><img loading=\"lazy\" decoding=\"async\" width=\"829\" height=\"104\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-438.png\" alt=\"\" class=\"wp-image-23914\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-438.png 829w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-438-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-438-768x96.png 768w\" sizes=\"(max-width: 829px) 100vw, 829px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/R1ux6sMMdIC-jDBuJh3pthxYrxIZPaf44VGV4UyRV7OO_zVA382oQzX-rwlo5_aOMGZ1aKGMBay0MwPamPUntIdU_H6oCIQqL493q2RZhf9BVGmUQ2nwfqZ28WKXlBxxssz2VcKTqPSP71gn0VhLwlU\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>News Feed<\/strong><br><\/td><\/tr><tr><td>1. <a href=\"https:\/\/www.businesstimes.com.sg\/international\/us-weekly-jobless-claims-fall-fourth-quarter-gdp-growth-trimmed\">US weekly jobless claims fall; fourth-quarter GDP growth trimmed<\/a><br><\/td><\/tr><tr><td>2. <a href=\"https:\/\/www.businesstimes.com.sg\/international\/oil-settles-2-tightening-supply-demand-concerns-linger\">Oil settles up 2% on tightening supply, demand concerns linger<\/a><br><\/td><\/tr><tr><td>3. <a href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/us-banking-regulators-step-warnings-crypto-market-risks\">US banking regulators step up warnings on crypto market risks<\/a><br><\/td><\/tr><tr><td>4. <a href=\"https:\/\/www.businesstimes.com.sg\/international\/google-limits-access-news-canada-it-tests-proposed-law\">Google limits access to news in Canada as it tests proposed law<\/a><br><\/td><\/tr><tr><td>5. <a href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/boeing-halts-deliveries-787-again-fuselage-issue\">Boeing halts deliveries of 787 again on fuselage issue<\/a><br><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/4G0g8UJ4yWDG4LDqa0fhiTEIUbPUn4kkKqFAkbU4vas1ky5HfDVnqARprJQ4hxfXAVS7aylphdW3OESoPw3Fdfy7mZRbu3i9E3RmMKjPmydZIXRc1Voatlv3RrOMa78mLX-O8TvbV2KfL_kaiDZqKQ8\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1197\" height=\"646\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-439.png\" alt=\"\" class=\"wp-image-23916\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-439.png 1197w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-439-300x162.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-439-1024x553.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-439-768x414.png 768w\" sizes=\"(max-width: 1197px) 100vw, 1197px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><p><strong>News Feed<\/strong><\/p><\/td><\/tr><tr><td><p> 1. <a href=\"https:\/\/www.straitstimes.com\/asia\/se-asia\/hong-kong-extends-mask-mandate-to-nearly-1000-days-despite-reopening-campaign\">Hong Kong extends mask wearing requirement by 2 weeks to March 8, despite reopening campaign<\/a> <\/p><\/td><\/tr><tr><td><p> 2. <a href=\"https:\/\/www.channelnewsasia.com\/business\/china-step-support-southern-hengqin-and-qianhai-economic-zones-3298976\">China to step up support to southern Hengqin and Qianhai economic zones<\/a> <\/p><\/td><\/tr><tr><td><p> 3. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-22\/a-33-billion-hit-shows-china-s-newest-stock-worry-tech-watch\">A $33 Billion Hit Shows China\u2019s Newest Stock Worry<\/a> <\/p><\/td><\/tr><tr><td><p> 4. <a href=\"https:\/\/www.ft.com\/content\/0bff01a4-d20b-4f56-933d-334f1ee01c48\">Hong Kong woos family offices in bid to boost post-Covid growth<\/a> <\/p><\/td><\/tr><tr><td><p> 5. <a href=\"https:\/\/www.businesstimes.com.sg\/international\/china-coal-mine-disaster-may-hit-supply-just-demand-recovers\">China coal mine disaster may hit supply just as demand recovers<\/a> <\/p><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\">^ Back To Top<\/a> <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-440.png\" alt=\"\" class=\"wp-image-23917\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-440.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-440-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\" id=\"td\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-441.png\" alt=\"\" class=\"wp-image-23918\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-441.png 618w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/02\/word-image-441-300x62.png 300w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update:<\/strong> Add Cloudflare (NET US) at US$60.0. Cut loss on Alibaba (9988 HK) at HK$91.5.<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/6G5oeGVDIbgTcZcBIkyrSZ1CcKGbGmBhwV0e4dCT6zLmR1orcBALjtM0SZCU0lTmEaPp0T297T6zR0ZHojOLOyoIm4RhmHzdvoqyB9N3uN_Gti-7l_6KtpKOeZ4sRHHNn5I_LvUOCgN-J8LZMxefyB0\" width=\"602\" height=\"293\"><\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\">^ Back To Top<\/a> <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"https:\/\/t.me\/kgisg\"><img loading=\"lazy\" decoding=\"async\" width=\"520\" height=\"142\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/06\/word-image-433.png\" alt=\"\" class=\"wp-image-17077\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/06\/word-image-433.png 520w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/06\/word-image-433-300x82.png 300w\" sizes=\"(max-width: 520px) 100vw, 520px\" \/><\/a><\/figure><\/div>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u6b27\u4f73\u65f6 (HG SP)\uff1a\u65f6\u95f4\u4e0d\u7b49\u4eba \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.25\uff0c\u76ee\u6807\u4ef7\uff1a2.45\uff0c\u6b62\u635f\u4ef7\uff1a2.15 \u6b27\u4f73\u65f6\u901a\u8fc7\u5176\u9644\u5c5e\u516c\u53f8\u96f6\u552e\u53ca\u6279\u53d1\u624b\u8868\u3001\u73e0\u5b9d\u53ca\u76f8\u5173\u4ea7\u54c1\u3002\u8be5\u516c\u53f8\u8fd8\u751f\u4ea7\u624b\u8868\u548c\u6295\u8d44\u623f\u5730\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u5efa\u7acb\u4e86\u81ea\u5df1\u4f5c\u4e3a\u4e00\u4e2a\u4e00\u6d41\u7684\u624b\u8868\u7cbe\u54c1\uff0c\u96c6\u56e2\u6269\u5c55\u5230\u4e16\u754c\u5404\u5730\u3002\u96c6\u56e2\u62e5\u6709Gerald Genta\u3001Breguet\u3001Daniel Roth\u3001Bertolucci\u3001Burberrys\u3001Christian Dior\u3001Revue Thommen\u3001\u5b87\u8236\u548cMontega\u7684\u72ec\u5bb6\u4ee3\u7406\u6743\u548c\u5206\u9500\u6743\u3002 \u4e39\u5c3c\u5c14\u00b7\u7f57\u65af\u7684\u590d\u5174\u3002\u8def\u6613\u5a01\u767b\u96c6\u56e2 (LVMH) \u65d7\u4e0b\u7684\u745e\u58eb\u624b\u8868\u54c1\u724c\u4e39\u5c3c\u5c14\u00b7\u7f57\u65af (Daniel Roth) \u5c06\u4ee5\u72ec\u7acb\u516c\u53f8\u7684\u8eab\u4efd\u56de\u5f52\uff0c\u5176\u7b2c\u4e00\u6b3e\u65b0\u624b\u8868\u5c06\u4e8e2023\u5e74\u53d1\u5e03\u3002\u7136\u800c\uff0c\u90a3\u4e9b\u6709\u5174\u8da3\u8d2d\u4e70\u8be5\u54c1\u724c\u624b\u8868\u7684\u4eba\u5c06\u4e0d\u5f97\u4e0d\u901a\u8fc7\u8be5\u516c\u53f8\u8d2d\u4e70\uff0c\u56e0\u4e3a\u4ed6\u4eec\u62e5\u6709\u72ec\u5bb6\u5206\u9500\u6743\u3002 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23\u8d22\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u5728\u622a\u81f39\u670830\u65e5\u7684\u516d\u4e2a\u6708\u91cc\uff0c\u8be5\u516c\u53f8\u6536\u5165\u4ece4.724\u4ebf\u65b0\u5143\u589e\u957f\u81f35.555\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f18%\u3002\u5c3d\u7ba1\u8fd0\u8425\u6210\u672c\u4e0a\u5347\uff0c\u4f46\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f35%\uff0c\u4ece6,260\u4e07\u65b0\u5143\u589e\u81f38,460\u4e07\u65b0\u5143\u3002 \u5e02\u573a\u5bf924\/25\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a4.35%\/4.17%\uff0c\u5bf9\u5e949.4\u500d\/9.0\u500d\u7684\u8fdc\u671f\u5e02\u76c8\u7387\u3002\u5f53\u524d\u5e02\u76c8\u7387\u4e3a8.7\u500d\uff0c5\u5e74\u5386\u53f2\u5e02\u76c8\u7387\u4e3a8.8\u500d\u3002 (Source: Bloomberg) \u73cd\u5b9d\u96c6\u56e2 (42R SP)\uff1a\u590d\u82cf\u4e4b\u5e74 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.310\uff0c\u76ee\u6807\u4ef7\uff1a0.335\uff0c\u6b62\u635f\u4ef7\uff1a0.300 \u516c\u53f8\u662f\u4e00\u5bb6\u6d77\u9c9c\u9910\u996e\u96c6\u56e2\uff0c\u63d0\u4f9b\u591a\u79cd\u9910\u996e\u7406\u5ff5\uff0c\u4ee5\u6ee1\u8db3\u5404\u7c7b\u6d88\u8d39\u8005\u7684\u9700\u6c42\u3002\u8be5\u516c\u53f8\u5728\u65b0\u52a0\u5761\u3001\u4e2d\u56fd\u548c\u65e5\u672c\u8bbe\u6709\u9910\u5385\u3002 \u4e2d\u56fd\u7684\u91cd\u65b0\u5f00\u653e\u3002\u4e2d\u56fd\u6700\u8fd1\u521a\u521a\u5ba3\u5e03\u5411\u56fd\u9645\u6e38\u5ba2\u91cd\u65b0\u5f00\u653e\u8fb9\u5883\u3002\u56fd\u5185\u548c\u56fd\u9645\u6e38\u5ba2\u9884\u8ba1\u5728\u672a\u6765\u51e0\u4e2a\u5b63\u5ea6\u5c06\u4f1a\u589e\u52a0\u3002\u4e2d\u56fd\u662f\u73cd\u5b9d\u96c6\u56e2\u7684\u4e3b\u8981\u5e02\u573a\u4e4b\u4e00\uff0c\u5728\u4e2d\u56fd\u62e5\u67093\u4e2a\u54c1\u724c\u548c10\u5bb6\u95e8\u5e97\u3002\u4e2d\u56fd\u56fd\u9645\u65c5\u6e38\u7684\u589e\u957f\u80af\u5b9a\u4f1a\u4e3a\u8be5\u516c\u53f8\u5e26\u6765\u6536\u5165\u3002 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\u516c\u53f8\u524d\u666f\u3002\u516c\u53f8\u7684\u524d\u666f\u662f\u79ef\u6781\u7684\uff0c\u56e0\u4e3a\u7ba1\u7406\u5c42\u770b\u5230\u4e86\u8ba2\u5355\u7684\u589e\u52a0\uff0c\u8fd9\u662f\u7531\u4e8e\u77f3\u6cb9\u548c\u5929\u7136\u6c14\u4ef7\u683c\u9ad8\u4f01\u3001\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u5bfc\u81f4\u5bf9\u80fd\u6e90\u5b89\u5168\u7684\u91cd\u65b0\u5173\u6ce8\u4ee5\u53ca\u5411\u53ef\u518d\u751f\u80fd\u6e90\u7684\u8f6c\u53d8\u7b49\u56e0\u7d20\u7684\u7efc\u5408\u4f5c\u7528\u3002\u8fd9\u8868\u660e\uff0c\u516c\u53f8\u7684\u4e1a\u7ee9\u5f88\u53ef\u80fd\u5728\u4e0d\u4e45\u7684\u5c06\u6765\u7ee7\u7eed\u6539\u5584\u3002 \u5e02\u573a\u5bf923\/24\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u7684\u6700\u65b0\u5171\u8bc6\u5206\u522b\u4e3a0.013\u65b0\u5143\/0.017\u65b0\u5143\u3002\u5f6d\u535a\u4e00\u81f4\u8ba4\u4e3a12\u4e2a\u6708\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a0.35\u65b0\u5143\u3002 (Source: Bloomberg) \u5156\u77ff\u80fd\u6e90 (1171 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\u7164\u70ad\u4ef7\u683c\u3002\u53d7\u5b63\u8282\u6027\u8865\u5e93\u5b58\u548c\u51b6\u70bc\u6d3b\u52a8\u6062\u590d\u7684\u63a8\u52a8\uff0c\u7126\u7164\u53cd\u5f39\u81f3\u4e09\u4e2a\u6708\u9ad8\u70b91958\u5143\/\u5428\u3002\u94dd\u3001\u94dc\u548c\u94a2\u94c1\u7b49\u57fa\u672c\u91d1\u5c5e\u57282023\u5e74\u6709\u4e86\u4e00\u4e2a\u826f\u597d\u7684\u5f00\u7aef\uff0c\u5f53\u65f6\u4e2d\u56fd\u6b63\u5728\u6062\u590d\u57fa\u7840\u8bbe\u65bd\u6269\u5f20\u5e76\u62ef\u6551\u623f\u5730\u4ea7\u5e02\u573a\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u52a8\u529b\u7164\u4ef7\u683c\u6301\u5e73\u4e8e800\u5143\/\u5428\u3002\u7535\u5382\u5c06\u57283\u6708\/ 4\u6708\u8865\u5145\u52a8\u529b\u7164\u5e93\u5b58\uff0c\u56e0\u6b64\uff0c\u4ef7\u683c\u9884\u8ba1\u5c06\u51fa\u73b0\u5b63\u8282\u6027\u53cd\u5f39\u3002 \u4e2d\u56fd\u7126\u7164\u4ef7\u683c\u8868\u73b0 (Source: Bloomberg) \u4e2d\u56fd\u52a8\u529b\u7164\u4ef7\u683c\u8868\u73b0 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