{"id":59866,"date":"2025-01-16T20:25:55","date_gmt":"2025-01-16T12:25:55","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=59866"},"modified":"2025-01-17T11:02:11","modified_gmt":"2025-01-17T03:02:11","slug":"kgi-daily-trading-ideas-17-jan-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-17-jan-2025-zh\/","title":{"rendered":"2025\u5e741\u670817\u65e5: Seatrium Ltd(STM SP), \u4e2d\u56fd\u94dd\u4e1a(2600 HK), \u535a\u901a\u516c\u53f8(AVGO 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<figure class=\"wp-block-image\" id=\"sp\"><img fetchpriority=\"high\" decoding=\"async\" width=\"829\" height=\"104\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259.png\" alt=\"\" class=\"wp-image-47866\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259.png 829w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259-768x96.png 768w\" sizes=\"(max-width: 829px) 100vw, 829px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-59866-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"941\" height=\"426\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-27.png\" alt=\"\" class=\"wp-image-59916\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-27.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-27-300x136.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-27-768x348.png 768w\" sizes=\"(max-width: 941px) 100vw, 941px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"941\" height=\"241\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-28.png\" alt=\"\" class=\"wp-image-59917\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-28.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-28-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-28-768x197.png 768w\" sizes=\"(max-width: 941px) 100vw, 941px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"941\" height=\"290\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-29.png\" alt=\"\" class=\"wp-image-59918\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-29.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-29-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/image-29-768x237.png 768w\" sizes=\"(max-width: 941px) 100vw, 941px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/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\/2025\/01\/word-image-59866-4.png\" alt=\"\" class=\"wp-image-59870\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-4-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-59866-_qqv3rtx8nazp\"><\/a><a id=\"post-59866-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1916\" height=\"837\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-screenshot-of-a-phone-description-automatically-3.png\" alt=\"A screenshot of a phone\n\nDescription automatically generated\" class=\"wp-image-59871\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-screenshot-of-a-phone-description-automatically-3.png 1916w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-screenshot-of-a-phone-description-automatically-3-300x131.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-screenshot-of-a-phone-description-automatically-3-1024x447.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-screenshot-of-a-phone-description-automatically-3-768x335.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-screenshot-of-a-phone-description-automatically-3-1536x671.png 1536w\" sizes=\"(max-width: 1916px) 100vw, 1916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\" title=\"\">^ 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\/2025\/01\/word-image-59866-6.png\" alt=\"\" class=\"wp-image-59872\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-6-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h1 class=\"wp-block-heading\">\u00a0<\/h1>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-59866-_9i0c554gtu0u\"><\/a><strong><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" class=\"wp-image-59873\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-7.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Seatrium Ltd(STM SP)\uff1a\u8de8\u5883\u5408\u4f5c\u7684\u6f5c\u5728\u589e\u957f<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.23\uff0c\u76ee\u6807\u4ef7\uff1a2.43\uff0c\u6b62\u635f\u4ef7\uff1a2.13<\/strong><\/li>\n\n\n\n<li>Seatrium Ltd. \u662f\u4e00\u5bb6\u4e3a\u6d77\u4e0a\u3001\u8239\u8236\u548c\u80fd\u6e90\u884c\u4e1a\u63d0\u4f9b\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u7684\u516c\u53f8\u3002\u516c\u53f8\u4e1a\u52a1\u6db5\u76d6\u94bb\u4e95\u5e73\u53f0\u548c\u6d6e\u5f0f\u751f\u4ea7\u88c5\u7f6e\u3001\u7ef4\u4fee\u548c\u5347\u7ea7\u3001\u6d77\u4e0a\u5e73\u53f0\u4ee5\u53ca\u4e13\u4e1a\u9020\u8239\u3002Seatrium \u4e3a\u5168\u7403\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<\/li>\n\n\n\n<li><strong>\u67d4\u4f5b-\u65b0\u52a0\u5761\u7279\u522b\u7ecf\u6d4e\u533a\u9879\u76ee\u52a9\u529b\u80fd\u6e90\u8f6c\u578b\u3002 <\/strong>\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u5171\u540c\u542f\u52a8\u4e86\u67d4\u4f5b-\u65b0\u52a0\u5761\u7ecf\u6d4e\u533a (JS-SEZ)\uff0c\u8fd9\u662f\u4e00\u9879\u4ee5\u7eff\u8272\u80fd\u6e90\u3001\u5148\u8fdb\u5236\u9020\u4e1a\u548c\u6c14\u5019\u53d8\u5316\u7f13\u89e3\u4e3a\u91cd\u70b9\u7684\u5408\u4f5c\u5021\u8bae\u3002 \u8be5\u7efc\u5408\u6846\u67b6\u6db5\u76d611\u4e2a\u5173\u952e\u9886\u57df\uff0c\u5305\u62ec\u5236\u9020\u4e1a\u3001\u7269\u6d41\u3001\u7cae\u98df\u5b89\u5168\u3001\u65c5\u6e38\u4e1a\u3001\u80fd\u6e90\u3001\u6570\u5b57\u7ecf\u6d4e\u3001\u7eff\u8272\u7ecf\u6d4e\u3001\u91d1\u878d\u670d\u52a1\u3001\u5546\u4e1a\u670d\u52a1\u3001\u6559\u80b2\u548c\u533b\u7597\u4fdd\u5065\u3002 \u8be5\u5021\u8bae\u65e8\u5728\u672a\u6765\u5341\u5e74\u5185\u5b9e\u73b0100\u4e2a\u9879\u76ee\u5e76\u521b\u902020,000\u4e2a\u5c31\u4e1a\u673a\u4f1a\u3002 JS-SEZ\u7684\u4e00\u4e2a\u5173\u952e\u7ec4\u6210\u90e8\u5206\u662f\u52a0\u901f\u4e24\u56fd\u4e4b\u95f4\u7684\u53ef\u518d\u751f\u80fd\u6e90\u4ea4\u6613\u3002 \u8fd9\u5305\u62ec\u4e00\u987950\u5146\u74e6\u7684\u7eff\u8272\u7535\u529b\u4ea4\u6613\u548c\u4ece\u9a6c\u6765\u897f\u4e9a\u8fdb\u53e31\u5409\u74e6\u6c34\u7535\u7684\u8ba1\u5212\u3002 \u968f\u77402023\u5e74\u53cc\u8fb9\u8d38\u6613\u989d\u8fbe\u52301326\u4ebf\u7f8e\u5143\uff0cJS-SEZ\u52a0\u5f3a\u4e86\u7ecf\u6d4e\u8054\u7cfb\uff0c\u5e76\u5c06\u8be5\u5730\u533a\u5b9a\u4f4d\u4e3a\u53ef\u6301\u7eed\u6027\u548c\u80fd\u6e90\u8f6c\u578b\u7684\u5168\u7403\u9886\u5bfc\u8005\u3002 \u901a\u8fc7\u5229\u7528\u5176\u5728\u6d77\u4e0a\u80fd\u6e90\u3001\u9020\u8239\u548c\u6d77\u6d0b\u6280\u672f\u65b9\u9762\u7684\u4e13\u4e1a\u77e5\u8bc6\uff0cSeatrium\u53ef\u4ee5\u5b9a\u4f4d\u81ea\u5df1\uff0c\u5728JS-SEZ\u7684\u6210\u529f\u4e2d\u53d1\u6325\u91cd\u8981\u4f5c\u7528\uff0c\u5e76\u4e3a\u8be5\u5730\u533a\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u76ee\u6807\u505a\u51fa\u8d21\u732e\u3002<\/li>\n\n\n\n<li><strong>\u4e0eBP\u7b7e\u8ba2\u65b0\u5408\u540c\u3002<\/strong>Seatrium Ltd. \u8fd1\u671f\u5ba3\u5e03\u4e0eBP\u52d8\u63a2\u4e0e\u751f\u4ea7\u516c\u53f8 (bp) \u7b7e\u8ba2\u4e86\u4e00\u4efd\u5de5\u7a0b\u3001\u91c7\u8d2d\u3001\u65bd\u5de5\u548c\u9646\u4e0a\u8c03\u8bd5 (EPC) \u5408\u540c\uff0c\u4e3a\u7f8e\u56fd\u58a8\u897f\u54e5\u6e7e\u7684 Kaskida \u6d6e\u5f0f\u751f\u4ea7\u88c5\u7f6e (FPU) \u9879\u76ee\u63d0\u4f9b\u670d\u52a1\u3002Kaskida \u9879\u76ee\u4f4d\u4e8e\u65b0\u5965\u5c14\u826f\u897f\u5357\u7ea6 250 \u82f1\u91cc\u5904\u7684 Keathley Canyon \u5730\u533a\uff0c\u662f\u4e00\u4e2a\u7eff\u5730\u5f00\u53d1\u9879\u76ee\u3002\u5728\u7b2c\u4e00\u9636\u6bb5\u5f00\u53d1\u4e2d\uff0cFPU \u8bbe\u8ba1\u65e5\u4ea7\u539f\u6cb9\u9ad8\u8fbe 80,000 \u6876\uff0c\u5171\u516d\u53e3\u4e95\u3002\u8be5\u5408\u540c\u9884\u8ba1\u5c06\u663e\u8457\u63d0\u5347 Seatrium \u7684\u957f\u671f\u6536\u5165\u548c\u76c8\u5229\u80fd\u529b\uff0c\u589e\u5f3a\u5176\u5728\u6d77\u4e0a\u80fd\u6e90\u9886\u57df\u7684\u5e02\u573a\u5730\u4f4d\u3002<\/li>\n\n\n\n<li><strong>\u8ba2\u5355\u5145\u8db3\u524d\u666f\u4e50\u89c2\u3002<\/strong>\u622a\u81f3 2024 \u5e74 9 \u6708\u5e95\uff0cSeatrium \u7684\u51c0\u8ba2\u5355\u91cf\u8fbe\u5230 244 \u4ebf\u7f8e\u5143\uff0c\u5305\u62ec 30 \u4e2a\u9879\u76ee\uff0c\u8ba1\u5212\u4e8e 2031 \u5e74\u4e4b\u524d\u4ea4\u4ed8\u3002\u603b\u8ba2\u5355\u989d\u63a5\u8fd1 380 \u4ebf\u7f8e\u5143\uff0c\u5c06\u5728\u672a\u6765\u5341\u5e74\u5185\u4ea4\u4ed8\u3002\u516c\u53f8\u7684\u9879\u76ee\u7ba1\u9053\u4f9d\u7136\u5f3a\u52b2\uff0c\u5ba2\u6237\u5bfb\u6c42\u5408\u4f5c\u7684\u5174\u8da3\u6301\u7eed\u9ad8\u6da8\u3002Seatrium \u9884\u8ba1\u4e1a\u52a1\u6d3b\u52a8\u5c06\u5927\u5e45\u589e\u957f\uff0c\u5e76\u81f4\u529b\u4e8e\u964d\u4f4e\u503a\u52a1\u6c34\u5e73\uff0c\u540c\u65f6\u5bfb\u6c42\u65b0\u7684\u8d44\u91d1\u6765\u652f\u6301\u5f53\u524d\u548c\u672a\u6765\u7684\u9879\u76ee\u3002<\/li>\n\n\n\n<li><strong>24\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u00a024\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u540c\u6bd4\u589e\u957f39.1%\uff0c\u8fbe\u523040.1\u4ebf\u65b0\u5143\uff0c\u800c23\u5e74\u540c\u671f\u4e3a28.9\u4ebf\u65b0\u5143\u300224\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u4e3a3470\u4e07\u65b0\u5143\uff0c\u76f8\u6bd4\u4e4b\u4e0b\uff0c23\u5e74\u540c\u671f\u51c0\u4e8f\u635f2.405\u4ebf\u65b0\u5143\u300224\u5e74\u4e0a\u534a\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u4e3a1.05\u65b0\u52a0\u5761\u5206\uff0c\u800c23\u5e74\u540c\u671f\u4e3a\u6bcf\u80a1\u4e8f\u635f9.40\u65b0\u52a0\u5761\u5206\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6\u3002<\/strong><br><strong><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-59874\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-8.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-8.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-8-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1229\" height=\"558\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-9.jpeg\" alt=\"\" class=\"wp-image-59875\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-9.jpeg 1229w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-9-300x136.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-9-1024x465.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-9-768x349.jpeg 768w\" sizes=\"(max-width: 1229px) 100vw, 1229px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-59876\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-long-line-of-a-white-background-description-aut-14.png\" alt=\"A long line of a white background\n\nDescription automatically generated with medium confidence\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-long-line-of-a-white-background-description-aut-14.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-long-line-of-a-white-background-description-aut-14-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/> <\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>ISOTeam Ltd(ISO SP)\uff1a\u6269\u5927\u65e0\u4eba\u673a\u80fd\u529b<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.057\uff0c\u76ee\u6807\u4ef7\uff1a0.061\uff0c\u6b62\u635f\u4ef7\uff1a0.055<\/strong><\/li>\n\n\n\n<li>ISOTeam\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u5efa\u7b51\u7ef4\u62a4\u548c\u623f\u5730\u4ea7\u5347\u7ea7\u516c\u53f8\uff0c\u64c5\u957f\u901a\u8fc7\u4fee\u7f2e\u4e0e\u88c5\u4fee\u6539\u9020\uff08R&R\u548cA&A\uff09\u670d\u52a1\u4e3a\u516c\u5171\u548c\u79c1\u8425\u90e8\u95e8\u63d0\u4f9b\u73af\u4fdd\u89e3\u51b3\u65b9\u6848\u3002\u516c\u53f8\u5728\u65b0\u52a0\u5761\u5efa\u7b51\u548c\u8bbe\u65bd\u7684\u5347\u7ea7\u3001\u6539\u9020\u548c\u7ef4\u62a4\u65b9\u9762\u62e5\u6709\u4e30\u5bcc\u7ecf\u9a8c\uff0c\u81f4\u529b\u4e8e\u91cd\u5851\u548c\u632f\u5174\u516c\u5171\u4f4f\u623f\u666f\u89c2\u3001\u8bbe\u65bd\u548c\u73af\u5883\u3002<\/li>\n\n\n\n<li><strong>\u65e0\u4eba\u673a\u6f5c\u529b\u3002 <\/strong>ISOTeam\u4e0eAcclivis Technologies\u548c\u7acb\u90a6\u6d82\u6599\uff08\u65b0\u52a0\u5761\uff09\u7b7e\u7f72\u4e86\u4e00\u9879\u5177\u6709\u7ea6\u675f\u529b\u7684\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MOU\uff09\uff0c\u5171\u540c\u5f00\u53d1\u7528\u4e8e\u5efa\u7b51\u7acb\u9762\u7684\u81ea\u4e3b\u7ed8\u753b\u65e0\u4eba\u673a\uff0c\u8fd9\u6807\u5fd7\u7740\u516c\u53f8\u5728\u9769\u65b0\u5efa\u7b51\u73af\u5883\u65b9\u9762\u8fc8\u51fa\u4e86\u91cd\u8981\u4e00\u6b65\u3002\u901a\u8fc7\u96c6\u6210\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u65e0\u4eba\u673a\u6280\u672f\uff0cISOTeam\u53ef\u4ee5\u63d0\u9ad8\u751f\u4ea7\u6548\u7387\uff0c\u663e\u8457\u51cf\u5c11\u5bf9\u4eba\u529b\u7684\u4f9d\u8d56\uff0c\u4ece\u800c\u5e94\u5bf9\u65b0\u52a0\u5761\u7684\u52b3\u52a8\u529b\u77ed\u7f3a\u548c\u9ad8\u6210\u672c\u95ee\u9898\u3002\u8fd9\u4e9b\u65e0\u4eba\u673a\u901a\u8fc7\u6d88\u9664\u811a\u624b\u67b6\u9700\u6c42\u3001\u51cf\u5c11\u52b3\u52a8\u5bc6\u96c6\u578b\u6d41\u7a0b\u5e76\u63d0\u9ad8\u64cd\u4f5c\u5b89\u5168\u6027\uff0c\u5e26\u6765\u4e86\u53ef\u89c2\u7684\u6210\u672c\u548c\u65f6\u95f4\u8282\u7701\u3002\u6b64\u5916\uff0c\u65e0\u4eba\u673a\u7684\u6807\u51c6\u5316\u64cd\u4f5c\u6539\u5584\u4e86\u8d28\u91cf\u63a7\u5236\uff0c\u5e76\u5141\u8bb8\u8fdb\u884c\u9ad8\u7ea7\u7684\u68c0\u6d4b\u548c\u8ffd\u8e2a\u529f\u80fd\uff0c\u786e\u4fdd\u4e00\u81f4\u7684\u65bd\u5de5\u6548\u679c\u3002\u8fd9\u9879\u6280\u672f\u7684\u516c\u5171\u5e94\u7528\u5c06\u4f7fISOTeam\u6210\u4e3a\u521b\u65b0\u4e14\u53ef\u6301\u7eed\u7684\u5efa\u7b51\u7ef4\u62a4\u89e3\u51b3\u65b9\u6848\u9886\u57df\u7684\u9886\u5bfc\u8005\uff0c\u6269\u5927\u5176\u5e02\u573a\u5f71\u54cd\u529b\u5e76\u589e\u5f3a\u7ade\u4e89\u4f18\u52bf\u3002\u8fd9\u4e00\u4e3e\u63aa\u5efa\u7acb\u5728\u516c\u53f8\u73b0\u6709\u52aa\u529b\u7684\u57fa\u7840\u4e0a\uff0c\u4f8b\u5982\u4e0eH3 Dynamics\u5408\u4f5c\u5f00\u5c55HDB\u7acb\u9762\u9879\u76ee\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u5176\u5728\u4eba\u5de5\u667a\u80fd\u548c\u81ea\u52a8\u5316\u89e3\u51b3\u65b9\u6848\u9886\u57df\u7684\u4e13\u4e1a\u80fd\u529b\uff0c\u4e3a\u516c\u53f8\u521b\u9020\u65b0\u7684\u589e\u957f\u673a\u4f1a\u3002<\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u66f4\u591a\u9879\u76ee\u5b9e\u73b0\u589e\u957f\u3002<\/strong> ISOTeam\u5728\u56db\u4e2a\u4e1a\u52a1\u9886\u57df\u8fd0\u8425\uff0c\u5176\u4e2d\u8fd1\u4e09\u5206\u4e4b\u4e8c\u7684\u5408\u540c\u6765\u81ea\u516c\u5171\u90e8\u95e8\u9879\u76ee\uff0c\u5305\u62ec\u5efa\u5c4b\u53d1\u5c55\u5c40\uff08HDB\uff09\u7684\u5347\u7ea7\u5de5\u7a0b\u3002\u516c\u53f8\u5bf9\u6301\u7eed\u589e\u957f\u6301\u4e50\u89c2\u6001\u5ea6\uff0c\u5f97\u76ca\u4e8e\u653f\u5e9c\u9a71\u52a8\u9879\u76ee\uff08\u5982\u5bb6\u5ead\u6539\u5584\u8ba1\u5212\u548c\u793e\u533a\u66f4\u65b0\u8ba1\u5212\uff09\u7684\u7a33\u5b9a\u9700\u6c42\u3002\u6839\u636e\u7279\u7eb3\u548c\u6c64\u68ee\u7684\u9884\u6d4b\uff0c\u65b0\u52a0\u5761\u5efa\u7b51\u884c\u4e1a\u9884\u8ba1\u57282024\u5e74\u5c06\u589e\u957f12%\uff0c\u800c\u516c\u5171\u90e8\u95e8\u9879\u76ee\u9884\u8ba1\u5360\u5168\u5e74270\u4ebf\u81f3320\u4ebf\u65b0\u5143\u5efa\u7b51\u9700\u6c42\u768460%\u3002\u622a\u81f36\u670830\u65e5\uff0cISOTeam\u7684\u8ba2\u5355\u603b\u989d\u8fbe\u52301.758\u4ebf\u65b0\u5143\uff0c\u4e3a\u672a\u6765\u4e24\u5e74\u7684\u4e1a\u52a1\u63d0\u4f9b\u4e86\u660e\u786e\u7684\u5c55\u671b\u3002<\/li>\n\n\n\n<li><strong>2024\u5e74\u4e0b\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u516c\u53f8\u6536\u5165\u4ece2023\u5e74\u4e0b\u534a\u5e74\u76845650\u4e07\u65b0\u5143\u589e\u52a0\u52302024\u5e74\u4e0b\u534a\u5e74\u76846740\u4e07\u65b0\u5143\uff0c\u589e\u957f\u4e8619.3%\u3002\u6536\u5165\u589e\u957f\u4e3b\u8981\u7531\u4e8e\u6838\u5fc3\u4e1a\u52a1\u9886\u57df\uff08R&R\u3001A&A\u548cC&P\uff09\u521b\u9020\u4e86\u66f4\u9ad8\u7684\u6536\u5165\uff0c\u4f46\u7531\u4e8e\u51fa\u552e\u4e00\u5bb6\u5b50\u516c\u53f8\uff0c\u5176\u4ed6\u4e1a\u52a1\u9886\u57df\u7684\u6536\u5165\u6709\u6240\u4e0b\u964d\u3002\u96c6\u56e2\u7684\u6bdb\u5229\u6da6\u4ece2023\u5e74\u4e0b\u534a\u5e74\u7684610\u4e07\u65b0\u5143\u589e\u52a0\u52302024\u5e74\u4e0b\u534a\u5e74\u76841190\u4e07\u65b0\u5143\uff0c\u589e\u957f\u4e86580\u4e07\u65b0\u5143\uff1b\u540c\u65f6\uff0c\u5168\u5e74\u6bdb\u5229\u6da6\u4ece2023\u8d22\u5e74\u76841110\u4e07\u65b0\u5143\u589e\u52a0\u52302024\u8d22\u5e74\u76842020\u4e07\u65b0\u5143\uff0c\u589e\u957f\u4e86910\u4e07\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u5229\u6da6\u7387\u7684\u6539\u5584\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6\u3002<\/strong><br><strong><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-59877\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-box-with-white-text-26.png\" alt=\"A blue and white rectangular box with white text\n\nDescription automatically generated\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-box-with-white-text-26.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-box-with-white-text-26-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><img loading=\"lazy\" decoding=\"async\" width=\"1188\" height=\"558\" class=\"wp-image-59878\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-line-graph-description-automati-9.jpeg\" alt=\"A graph showing a line graph\n\nDescription automatically generated with medium confidence\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-line-graph-description-automati-9.jpeg 1188w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-line-graph-description-automati-9-300x141.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-line-graph-description-automati-9-1024x481.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-line-graph-description-automati-9-768x361.jpeg 768w\" sizes=\"(max-width: 1188px) 100vw, 1188px\" \/><\/h2>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-59879\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-13.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-13-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\"><a id=\"post-59866-_f3bvj0c8rd86\"><\/a><strong><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" class=\"wp-image-59880\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-14.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-59866-_34eo5yf8y7pj\"><\/a><strong>\u4e2d\u56fd\u94dd\u4e1a(2600 HK)\uff1a\u94dd\u4ef7\u53cd\u5f39<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a4.80\uff0c\u76ee\u6807\u4ef7\uff1a5.40\uff0c\u6b62\u635f\u4ef7\uff1a4.50<\/strong><\/li>\n\n\n\n<li>\u4e2d\u56fd\u94dd\u4e1a\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u539f\u94dd\u548c\u94dd\u5236\u54c1\u751f\u4ea7\u548c\u9500\u552e\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u901a\u8fc7\u4e94\u4e2a\u5206\u90e8\u5f00\u5c55\u4e1a\u52a1\u3002\u6c27\u5316\u94dd\u5206\u90e8\u4ece\u4e8b\u94dd\u571f\u77ff\u7684\u5f00\u91c7\u548c\u8d2d\u4e70\u3001\u6c27\u5316\u94dd\u3001\u4ee5\u53ca\u94dd\u77fe\u571f\u7684\u751f\u4ea7\u548c\u9500\u552e\u3002\u539f\u94dd\u5206\u90e8\u4ece\u4e8b\u6c27\u5316\u94dd\u7684\u7535\u89e3\uff0c\u539f\u94dd\u3001\u78b3\u7d20\u4ea7\u54c1\u3001\u94dd\u5408\u91d1\u53ca\u5176\u4ed6\u7535\u89e3\u94dd\u4ea7\u54c1\u7684\u751f\u4ea7\u548c\u9500\u552e\u3002\u80fd\u6e90\u5206\u90e8\u4ece\u4e8b\u7164\u77ff\u5f00\u91c7\u3001\u706b\u529b\u53d1\u7535\u3001\u98ce\u529b\u53d1\u7535\u53ca\u5149\u4f0f\u53d1\u7535\u3001\u65b0\u80fd\u6e90\u88c5\u5907\u5236\u9020\u4e1a\u52a1\u7b49\u3002\u8d38\u6613\u5206\u90e8\u4ece\u4e8b\u6c27\u5316\u94dd\u3001\u539f\u94dd\u3001\u94dd\u52a0\u5de5\u4ea7\u54c1\u53ca\u5176\u4ed6\u6709\u8272\u91d1\u5c5e\u4ea7\u54c1\u548c\u7164\u70ad\u7b49\u7684\u8d38\u6613\u3002\u603b\u90e8\u53ca\u5176\u4ed6\u7ecf\u8425\u5206\u90e8\u4ece\u4e8b\u603b\u90e8\u7ba1\u7406\u3001\u7814\u53d1\u6d3b\u52a8\u53ca\u5176\u4ed6\u4e1a\u52a1\u3002<\/li>\n\n\n\n<li><strong>\u94dd\u4ef7\u53cd\u5f39\u3002<\/strong>\u94dd\u671f\u8d27\u4ef7\u683c\u7a81\u7834\u6bcf\u54282600\u7f8e\u5143\uff0c\u4ece1\u67086\u65e5\u521b\u4e0b\u7684\u8fd1\u56db\u4e2a\u6708\u4f4e\u70b92490\u7f8e\u5143\u5927\u5e45\u53cd\u5f39\u3002\u8fd9\u4e00\u6da8\u52bf\u4e0e\u57fa\u672c\u91d1\u5c5e\u7684\u6574\u4f53\u4e0a\u6da8\u8d8b\u52bf\u4e00\u81f4\uff0c\u56e0\u4e2d\u56fd\u91ca\u653e\u8fdb\u4e00\u6b65\u63d0\u632f\u6d88\u8d39\u7684\u4fe1\u53f7\uff0c\u6539\u5584\u4e86\u5bf9\u5236\u9020\u4e1a\u539f\u6750\u6599\u7684\u9700\u6c42\u524d\u666f\u30022023\u5e7412\u6708\uff0c\u4e2d\u56fd\u7684\u793e\u4f1a\u878d\u8d44\u89c4\u6a21\u548c\u65b0\u589e\u4eba\u6c11\u5e01\u8d37\u6b3e\u8d85\u51fa\u9884\u671f\uff0c\u53cd\u6620\u51fa\u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\uff08PBoC\uff09\u63a8\u51fa\u7684\u6fc0\u8fdb\u8d27\u5e01\u523a\u6fc0\u653f\u7b56\u5f00\u59cb\u5bf9\u4fe1\u8d37\u9700\u6c42\u4ea7\u751f\u5f71\u54cd\u3002\u8fd9\u4e9b\u8fdb\u5c55\u7d27\u968f\u653f\u5e9c\u627f\u8bfa\u901a\u8fc7\u6269\u5927\u8d64\u5b57\u652f\u51fa\u548c\u66f4\u5bbd\u677e\u7684\u8d27\u5e01\u653f\u7b56\u6765\u523a\u6fc0\u7ecf\u6d4e\u6d3b\u52a8\u4e4b\u540e\u3002\u6b64\u5916\uff0c\u4e2d\u56fd\u4ee5\u5916\u7684\u94dd\u671f\u8d27\u4e5f\u53d7\u5230\u652f\u6491\uff0c\u5f97\u76ca\u4e8e\u5317\u4eac\u53d6\u6d88\u94dd\u534a\u6210\u54c1\u51fa\u53e3\u9000\u7a0e\u7684\u51b3\u5b9a\uff0c\u8fd9\u4e00\u653f\u7b56\u63d0\u632f\u4e86\u5168\u7403\u6700\u5927\u94dd\u751f\u4ea7\u56fd\u4ee5\u5916\u5e02\u573a\u7684\u94dd\u9700\u6c42\u3002<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u94dd\u73b0\u8d27\u4ef7\u683c<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1229\" height=\"580\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-lines-and-numbers-description-automa-3.jpeg\" alt=\"A graph with lines and numbers\n\nDescription automatically generated with medium confidence\" class=\"wp-image-59881\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-lines-and-numbers-description-automa-3.jpeg 1229w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-lines-and-numbers-description-automa-3-300x142.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-lines-and-numbers-description-automa-3-1024x483.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-lines-and-numbers-description-automa-3-768x362.jpeg 768w\" sizes=\"(max-width: 1229px) 100vw, 1229px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6f5c\u5728\u7684\u94dd\u5236\u88c1\u3002<\/strong>\u636e\u62a5\u9053\uff0c\u6b27\u76df\u6b63\u5728\u8003\u8651\u5bf9\u4fc4\u7f57\u65af\u94dd\u5b9e\u65bd\u989d\u5916\u7684\u8fdb\u53e3\u9650\u5236\uff0c\u4f5c\u4e3a\u5176\u9488\u5bf9\u83ab\u65af\u79d1\u7684\u7b2c16\u8f6e\u5236\u88c1\u7684\u4e00\u90e8\u5206\uff0c\u4ee5\u56de\u5e94\u4fc4\u7f57\u65af\u5bf9\u4e4c\u514b\u5170\u7684\u5165\u4fb5\u3002\u8fd9\u4e9b\u63aa\u65bd\u9884\u8ba1\u5c06\u4e0e\u6218\u4e89\u4e09\u5468\u5e74\u540c\u6b65\u63a8\u51fa\u3002\u636e\u62a5\u9053\uff0c\u8fd9\u4e9b\u9650\u5236\u63aa\u65bd\u5c06\u9010\u6b65\u5b9e\u65bd\uff0c\u5177\u4f53\u65f6\u95f4\u8868\u548c\u8303\u56f4\u5c1a\u672a\u6700\u7ec8\u786e\u5b9a\u3002\u4fc4\u7f57\u65af\u662f\u4e2d\u56fd\u4ee5\u5916\u5168\u7403\u6700\u5927\u7684\u94dd\u751f\u4ea7\u56fd\uff0c\u5360\u5168\u7403\u94dd\u4ea7\u91cf\u7684\u7ea65%\u3002\u5982\u679c\u5236\u88c1\u843d\u5b9e\uff0c\u53ef\u80fd\u4f1a\u6270\u4e71\u5168\u7403\u94dd\u4f9b\u5e94\u94fe\uff0c\u52a0\u5267\u672c\u5df2\u7d27\u5f20\u7684\u5e02\u573a\u538b\u529b\uff0c\u4ece\u800c\u63a8\u52a8\u94dd\u4ef7\u4e0a\u6da8\uff0c\u53cd\u6620\u51fa\u4f9b\u5e94\u51cf\u5c11\u7684\u9884\u671f\u3002<\/li>\n\n\n\n<li><strong>\u62e5\u62b1\u4eba\u5de5\u667a\u80fd\u3002<\/strong>\u4e2d\u56fd\u94dd\u4e1a\u516c\u53f8\uff08Chalco\uff09\u8fd1\u65e5\u5ba3\u5e03\u4e0e\u6709\u8272\u91d1\u5c5e\u884c\u4e1a\u540c\u884c\u8fbe\u6210\u6218\u7565\u5408\u4f5c\uff0c\u5171\u540c\u63a8\u8fdb\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6570\u5b57\u5316\u5f00\u53d1\u548c\u5e94\u7528\u3002\u8be5\u8ba1\u5212\u9884\u8ba1\u5c06\u83b7\u5f97\u4e2d\u56fd\u6709\u8272\u91d1\u5c5e\u5de5\u4e1a\u534f\u4f1a\u3001\u76f8\u5173\u653f\u5e9c\u90e8\u95e8\u53ca\u5176\u4ed6\u5408\u4f5c\u4f19\u4f34\u7684\u652f\u6301\u3002\u4f5c\u4e3a\u6709\u8272\u91d1\u5c5e\u9886\u57df\u7684\u9f99\u5934\u4f01\u4e1a\uff0c\u4e2d\u56fd\u94dd\u4e1a\u5df2\u5efa\u7acb\u81ea\u4e3b\u53ef\u63a7\u7684\u4eba\u5de5\u667a\u80fd\u8ba1\u7b97\u4e2d\u5fc3\uff0c\u5e76\u5f00\u53d1\u4e86\u4e1a\u5185\u9996\u4e2a\u901a\u7528\u578b\u5927\u8bed\u8a00\u6a21\u578b\u201c\u6606\u5b89\u201d\u3002\u6606\u5b89\u5229\u7528\u4eba\u5de5\u667a\u80fd\u6280\u672f\uff0c\u4f18\u5316\u884c\u4e1a\u7684\u8fd0\u8425\u5de5\u4f5c\u6d41\u7a0b\uff0c\u8986\u76d6\u52d8\u63a2\u3001\u5f00\u91c7\u3001\u52a0\u5de5\u548c\u56de\u6536\u7b49\u591a\u4e2a\u73af\u8282\u3002\u6b64\u5916\uff0c\u6606\u5b89\u8fd8\u5f3a\u5316\u4e86\u77ff\u4ea7\u8d44\u6e90\u3001\u751f\u4ea7\u6d41\u7a0b\u3001\u7f51\u7edc\u3001\u6570\u636e\u548c\u7b97\u6cd5\u7b49\u5173\u952e\u9886\u57df\u7684\u5b89\u5168\u4fdd\u969c\u3002\u5c55\u671b\u672a\u6765\uff0c\u4e2d\u56fd\u94dd\u4e1a\u8ba1\u5212\u8fdb\u4e00\u6b65\u5de9\u56fa\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6280\u672f\u57fa\u7840\uff0c\u52a0\u5feb\u8ba4\u77e5\u667a\u80fd\u64cd\u4f5c\u7cfb\u7edf\u548c\u5173\u952e\u5de5\u4e1a\u4eba\u5de5\u667a\u80fd\u6280\u672f\u7684\u7a81\u7834\uff0c\u5e76\u63a8\u52a8\u8d44\u672c\u3001\u4eba\u624d\u3001\u6280\u672f\u3001\u6570\u636e\u548c\u7b97\u529b\u7684\u6df1\u5ea6\u878d\u5408\u3002\u8fd9\u79cd\u534f\u540c\u6548\u5e94\u5c06\u4fc3\u8fdb\u534f\u540c\u521b\u65b0\uff0c\u63a8\u52a8\u884c\u4e1a\u5411\u9ad8\u8d28\u91cf\u53d1\u5c55\u8fc8\u8fdb\uff0c\u5e76\u52a0\u901f\u57f9\u80b2\u65b0\u7684\u9ad8\u4ef7\u503c\u751f\u4ea7\u529b\u3002<\/li>\n\n\n\n<li><strong>24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002<\/strong><\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6\u3002<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-16.png\" alt=\"\" class=\"wp-image-59882\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-16.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-16-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1229\" height=\"558\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-17.jpeg\" alt=\"\" class=\"wp-image-59883\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-17.jpeg 1229w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-17-300x136.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-17-1024x465.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-17-768x349.jpeg 768w\" sizes=\"(max-width: 1229px) 100vw, 1229px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-59884\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-18.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-18.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-18-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u7d2b\u91d1\u77ff\u4e1a\u96c6\u56e2(2899 HK)\uff1a\u8f6c\u5411\u9502<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.0\uff0c\u76ee\u6807\u4ef7\uff1a17.0\uff0c\u6b62\u635f\u4ef7\uff1a14.0<\/strong><\/li>\n\n\n\n<li>\u7d2b\u91d1\u77ff\u4e1a\u96c6\u56e2\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u77ff\u4ea7\u4e1a\u52a1\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u7ecf\u8425\u4e5d\u4e2a\u5206\u90e8\u3002\u91d1\u952d\u5206\u90e8\u4e3b\u8981\u4ea7\u51fa\u91d1\u952d\uff0c\u4f9b\u7ed9\u5176\u4ed6\u5206\u90e8\u7684\u751f\u4ea7\u73af\u8282\u4f7f\u7528\u3002\u52a0\u5de5\u3001\u51b6\u70bc\u53ca\u8d38\u6613\u91d1\u5206\u90e8\u4ece\u4e8b\u5916\u8d2d\u91d1\u952d\u548c\u8d38\u6613\u91d1\u952d\u7684\u52a0\u5de5\u3002\u91d1\u7cbe\u77ff\u5206\u90e8\u5c06\u542b\u91d1\u77ff\u77f3\u8fdb\u884c\u52a0\u5de5\u5e76\u751f\u6210\u91d1\u7cbe\u77ff\u3002\u7535\u89e3\u94dc\u4e0e\u7535\u79ef\u94dc\u5206\u90e8\u751f\u4ea7\u9634\u6781\u94dc\u3002\u51b6\u70bc\u94dc\u5206\u90e8\u4ece\u4e8b\u81ea\u4ea7\u94dc\u548c\u5916\u8d2d\u94dc\u7684\u52a0\u5de5\u3002\u94dc\u7cbe\u77ff\u5206\u90e8\u5c06\u542b\u94dc\u77ff\u77f3\u8fdb\u884c\u5904\u7406\u5e76\u751f\u4ea7\u94dc\u7cbe\u77ff\u3002\u5176\u4ed6\u7cbe\u77ff\u5206\u90e8\u8d1f\u8d23\u4ea7\u51fa\u950c\u7cbe\u77ff\u3001\u94a8\u7cbe\u77ff\u3001\u94c5\u7cbe\u77ff\u7b49\u3002\u950c\u952d\u5206\u90e8\u751f\u4ea7\u950c\u952d\u3002\u5176\u4ed6\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u786b\u9178\u3001\u94dc\u677f\u5e26\u3001\u94f6\u548c\u94c1\u7684\u9500\u552e\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u5176\u4e1a\u52a1\u3002<\/li>\n\n\n\n<li><strong>\u6f5c\u5728\u8fdb\u519b\u9502\u884c\u4e1a\u3002 <\/strong>\u4e2d\u56fd\u7d2b\u91d1\u77ff\u4e1a\u96c6\u56e2\u6709\u9650\u516c\u53f8\u6b63\u5728\u52a0\u5927\u5bf9\u9502\u884c\u4e1a\u7684\u8fdb\u519b\u529b\u5ea6\uff0c\u53ef\u80fd\u6536\u8d2d\u4e00\u5bb6\u4e2d\u56fd\u7535\u6c60\u6750\u6599\u751f\u4ea7\u5546\u3002\u8be5\u516c\u53f8\u76ee\u524d\u6b63\u5728\u8c08\u5224\u6536\u8d2d\u85cf\u683c\u77ff\u4e1a\u6709\u9650\u516c\u53f8\u7684\u80a1\u4efd\uff0c\u53ef\u80fd\u5bfc\u81f4\u5bf9\u8be5\u516c\u53f8\u7684\u6536\u8d2d\u3002\u85cf\u683c\u77ff\u4e1a\u603b\u90e8\u4f4d\u4e8e\u4e2d\u56fd\u77ff\u4ea7\u8d44\u6e90\u4e30\u5bcc\u7684\u9752\u6d77\u897f\u90e8\u5730\u533a\uff0c\u5728\u6df1\u5733\u8bc1\u5238\u4ea4\u6613\u6240\u7684\u5e02\u503c\u4e3a466\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u751f\u4ea7\u94be\u80a5\uff0c\u4f46\u7ea6\u4e09\u5206\u4e4b\u4e00\u7684\u6536\u5165\u6765\u81ea\u4ece\u9752\u6d77\u76d0\u6e56\u4e2d\u63d0\u53d6\u7684\u9502\u3002\u8be5\u516c\u53f8\u6700\u8fd1\u63a8\u52a8\u9502\u4e1a\u52a1\u53d1\u5c55\uff0c\u662f\u53d7\u5230\u672a\u6765\u6570\u5341\u5e74\u5bf9\u7535\u52a8\u6c7d\u8f66\u7535\u6c60\u7528\u9502\u6750\u6599\u9700\u6c42\u6fc0\u589e\u7684\u9884\u671f\u63a8\u52a8\u3002<\/li>\n\n\n\n<li><strong>\u4e2d\u56fd\u589e\u52a0\u9ec4\u91d1\u50a8\u5907\u3002 <\/strong>\u4e2d\u56fd\u592e\u884c12\u6708\u8fde\u7eed\u7b2c\u4e8c\u4e2a\u6708\u589e\u6301\u9ec4\u91d1\u50a8\u5907\uff0c\u8868\u660e\u5728\u53bb\u5e74\u91d1\u4ef7\u98d9\u5347\u540e\u6682\u505c\u8d2d\u4e70\u4e4b\u540e\uff0c\u5176\u8d2d\u4e70\u9ec4\u91d1\u7684\u610f\u613f\u6709\u6240\u6062\u590d\u3002\u6839\u636e\u6d88\u606f\u4eba\u58eb\uff0c\u4e2d\u56fd\u4eba\u6c11\u94f6\u884c12\u6708\u7684\u9ec4\u91d1\u50a8\u5907\u91cf\u4ece\u524d\u4e00\u4e2a\u6708\u76847296\u4e07\u76ce\u53f8\u4e0a\u5347\u81f37329\u4e07\u76ce\u53f8\u3002\u592e\u884c\u57286\u4e2a\u6708\u6682\u505c\u540e\u4e8e11\u6708\u6062\u590d\u589e\u6301\u9ec4\u91d1\u50a8\u5907\u3002\u6b64\u6b21\u8d2d\u4e70\u8868\u660e\uff0c\u5373\u4f7f\u9ec4\u91d1\u4ef7\u683c\u5904\u4e8e\u5386\u53f2\u9ad8\u4f4d\uff0c\u4e2d\u56fd\u592e\u884c\u4ecd\u70ed\u8877\u4e8e\u591a\u5143\u5316\u5176\u50a8\u5907\u3002<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\u9ec4\u91d1\u50a8\u5907<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1219\" height=\"331\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-a-line-description-automatically-gen-5.png\" alt=\"A graph with a line\n\nDescription automatically generated\" class=\"wp-image-59885\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-a-line-description-automatically-gen-5.png 1219w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-a-line-description-automatically-gen-5-300x81.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-a-line-description-automatically-gen-5-1024x278.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-with-a-line-description-automatically-gen-5-768x209.png 768w\" sizes=\"(max-width: 1219px) 100vw, 1219px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(Source: PBoC, World Gold Council)<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002<\/strong> \u4e16\u754c\u9ec4\u91d1\u534f\u4f1a\u5728\u51762025\u5e74\u9ec4\u91d1\u5c55\u671b\u4e2d\u5f3a\u8c03\uff0c\u5982\u679c\u7ecf\u6d4e\u8868\u73b0\u7b26\u5408\u5e02\u573a\u666e\u904d\u9884\u671f\uff0c\u91d1\u4ef7\u5e94\u4ee5\u6bd4\u4eca\u5e74\u66f4\u6e29\u548c\u7684\u901f\u5ea6\u4e0a\u6da8\u3002\u5982\u679c\u592e\u884c\u9700\u6c42\u5f3a\u4e8e\u9884\u671f\u6216\u91d1\u878d\u72b6\u51b5\u8fc5\u901f\u6076\u5316\u5f15\u53d1\u907f\u9669\u9700\u6c42\uff0c\u9ec4\u91d1\u4ecd\u6709\u4e0a\u6da8\u6f5c\u529b\u2014\u2014\u5c3d\u7ba1\u5229\u7387\u964d\u606f\u5468\u671f\u9006\u8f6c\u5c06\u5e26\u6765\u6311\u6218\u3002\u5bf9\u6b27\u6d32\u4e3b\u6743\u503a\u52a1\u4e0d\u65ad\u589e\u52a0\u7684\u62c5\u5fe7\uff0c\u518d\u52a0\u4e0a\u4e2d\u4e1c\u3001\u4e1c\u6b27\u7b49\u5730\u6301\u7eed\u7684\u5730\u7f18\u653f\u6cbb\u4e0d\u7a33\u5b9a\uff0c\u4e5f\u7ee7\u7eed\u4e3a\u91d1\u4ef7\u63d0\u4f9b\u652f\u6491\u3002\u5e02\u573a\u76ee\u524d\u9884\u8ba12025\u5e74\u7f8e\u56fd\u5c06\u964d\u606f\u7ea6100\u4e2a\u57fa\u70b9\uff0c\u6b27\u6d32\u592e\u884c\u9884\u8ba1\u4e5f\u5c06\u964d\u606f\u7c7b\u4f3c\u5e45\u5ea6\u3002\u8fd9\u4e5f\u6709\u53ef\u80fd\u5bf9\u91d1\u4ef7\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\uff0c\u5c31\u50cf\u9884\u671f\u7f8e\u5143\u6c47\u7387\u6301\u5e73\u6216\u5c0f\u5e45\u8d70\u5f31\u4e00\u6837\uff0c\u56e0\u4e3a\u7ecf\u6d4e\u72b6\u51b5\u5c06\u8d8b\u4e8e\u6b63\u5e38\u5316\u3002<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1255\" height=\"580\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-the-growth-of-the-stock-market-de-1.jpeg\" alt=\"A graph showing the growth of the stock market\n\nDescription automatically generated\" class=\"wp-image-59886\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-the-growth-of-the-stock-market-de-1.jpeg 1255w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-the-growth-of-the-stock-market-de-1-300x139.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-the-growth-of-the-stock-market-de-1-1024x473.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-the-growth-of-the-stock-market-de-1-768x355.jpeg 768w\" sizes=\"(max-width: 1255px) 100vw, 1255px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u3002 2024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f7.11%\u81f3800\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a747\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f54.8%\u81f3112\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a72.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.349\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.223\u5143\u3002<\/strong><\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6\u3002<\/strong><br><strong><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-59887\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-white-tex-5.png\" alt=\"A blue and white rectangular object with white text\n\nDescription automatically generated\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-white-tex-5.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-white-tex-5-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1188\" height=\"558\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-stock-market-description-automa-1.jpeg\" alt=\"A graph showing a stock market\n\nDescription automatically generated with medium confidence\" class=\"wp-image-59888\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-stock-market-description-automa-1.jpeg 1188w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-stock-market-description-automa-1-300x141.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-stock-market-description-automa-1-1024x481.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-showing-a-stock-market-description-automa-1-768x361.jpeg 768w\" sizes=\"(max-width: 1188px) 100vw, 1188px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/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\/2025\/01\/word-image-59866-23.png\" alt=\"\" class=\"wp-image-59889\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-23.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-23-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"us\"><a id=\"post-59866-_6xzuwbi3dcr\"><\/a><strong><img loading=\"lazy\" decoding=\"async\" width=\"827\" height=\"105\" class=\"wp-image-59890\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-24.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-24.png 827w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-24-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-24-768x98.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u535a\u901a\u516c\u53f8(AVGO US)\uff1a\u8ba2\u5355\u7c3f\u5df2\u83b7\u4fdd\u969c<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a224\uff0c\u76ee\u6807\u4ef7\uff1a250\uff0c\u6b62\u635f\u4ef7\uff1a211<\/strong><\/li>\n\n\n\n<li>\u535a\u901a\u516c\u53f8\u8bbe\u8ba1\u3001\u5f00\u53d1\u548c\u4f9b\u5e94\u534a\u5bfc\u4f53\u548c\u57fa\u7840\u8bbe\u65bd\u8f6f\u4ef6\u89e3\u51b3\u65b9\u6848\u3002 \u516c\u53f8\u63d0\u4f9b\u5b58\u50a8\u9002\u914d\u5668\u3001\u63a7\u5236\u5668\u3001\u7f51\u7edc\u5904\u7406\u5668\u3001\u8fd0\u52a8\u63a7\u5236\u7f16\u7801\u5668\u548c\u5149\u5b66\u4f20\u611f\u5668\uff0c\u4ee5\u53ca\u57fa\u7840\u8bbe\u65bd\u548c\u5b89\u5168\u8f6f\u4ef6\uff0c\u4ee5\u73b0\u4ee3\u5316\u3001\u4f18\u5316\u548c\u4fdd\u62a4\u590d\u6742\u6df7\u5408\u73af\u5883\u3002 \u535a\u901a\u4e3a\u5168\u7403\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<\/li>\n\n\n\n<li><strong>\u83b7\u5f97\u4eba\u5de5\u667a\u80fd\u5e02\u573a\u4efd\u989d \u3002<\/strong>\u535a\u901a\u6b63\u5728\u5de9\u56fa\u5176\u4f5c\u4e3a\u8d85\u5927\u89c4\u6a21\u4f01\u4e1a\u5173\u952e AI \u786c\u4ef6\u5408\u4f5c\u4f19\u4f34\u7684\u5730\u4f4d\uff0c\u8fd9\u4e9b\u4f01\u4e1a\u6b63\u5728\u4ece\u82f1\u4f1f\u8fbe\u8f6c\u5411\u591a\u5143\u5316\u3002 \u5176\u9996\u5e2d\u6267\u884c\u5b98\u900f\u9732\uff0c\u4e09\u5bb6\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u8ba1\u5212\u5230 2027 \u5e74\u90e8\u7f72\u4e00\u767e\u4e07\u4e2a XPU \u96c6\u7fa4\uff0c\u53e6\u6709\u4e24\u5bb6\u6b63\u5728\u5f00\u53d1\u4e2d\u3002 \u4f5c\u4e3a\u4e3b\u8981\u7684 HBM \u4f9b\u5e94\u5546\uff0cSK \u6d77\u529b\u58eb\u6b63\u5728\u5c06 DRAM \u4ea7\u80fd\u63d0\u9ad8 70%\uff0c\u4ee5\u6ee1\u8db3\u6765\u81ea\u535a\u901a\u548c\u82f1\u4f1f\u8fbe\u7684\u6fc0\u589e\u9700\u6c42\uff0c\u91cd\u70b9\u5173\u6ce8\u5148\u8fdb\u7684 HBM3E \u6280\u672f\u3002 \u535a\u901a\u7684 AI \u9a71\u52a8\u534a\u5bfc\u4f53\u6536\u5165\u5728 2024 \u5e74\u8fbe\u5230 301 \u4ebf\u7f8e\u5143\uff0c\u53cd\u6620\u51fa AI \u6536\u5165\u540c\u6bd4\u589e\u957f 220%\uff0c\u51f8\u663e\u4e86\u5176\u5728 AI \u82af\u7247\u521b\u65b0\u9886\u57df\u4e0d\u65ad\u589e\u957f\u7684\u5f71\u54cd\u529b\u3002<\/li>\n\n\n\n<li><strong>\u6301\u7eed\u521b\u65b0\u3002 <\/strong>\u535a\u901a\u63a8\u51fa\u4e86 Brocade G710\uff0c\u8fd9\u662f\u4e00\u6b3e\u4e13\u4e3a\u4e2d\u5c0f\u578b\u4f01\u4e1a\u8bbe\u8ba1\u7684 24 \u7aef\u53e3 64G \u5149\u7ea4\u901a\u9053 SAN \u4ea4\u6362\u673a\u3002 \u5b83\u5177\u6709\u4f4e\u5ef6\u8fdf (460 ns)\u3001\u9ad8\u80fd\u6548 (65W) \u548c 8 \u81f3 24 \u7aef\u53e3\u7684\u53ef\u6269\u5c55\u6027\u3002 \u4e3b\u8981\u7279\u70b9\u5305\u62ec\u7f51\u7edc\u5f39\u6027\u67b6\u6784\u3001\u81ea\u4e3b\u81ea\u6108\u80fd\u529b\u548c\u516d\u4e2a\u4e5d (99.9999%) \u7684\u53ef\u9760\u6027\u3002 G710 \u901a\u8fc7\u7f51\u7edc\u9694\u79bb\u548c\u4fe1\u4efb\u6839\u9a8c\u8bc1\u786e\u4fdd\u5f3a\u5927\u7684\u6570\u636e\u5b89\u5168\u6027\u3002 \u51ed\u501f\u7ec8\u8eab\u8d28\u4fdd\uff0c\u5b83\u63d0\u4f9b 24\/7 \u652f\u6301\u3001\u56fa\u4ef6\u66f4\u65b0\u548c\u5b89\u5168\u8865\u4e01\uff0c\u4e3a\u9ad8\u6027\u80fd\u3001\u5b89\u5168\u3001\u53ef\u9760\u7684\u6570\u636e\u4e2d\u5fc3\u63d0\u4f9b\u7ecf\u6d4e\u9ad8\u6548\u7684\u89e3\u51b3\u65b9\u6848\u3002<\/li>\n\n\n\n<li><strong>\u6570\u636e\u4e2d\u5fc3\u589e\u957f\u524d\u666f\u3002 <\/strong>\u6839\u636e\u4ef2\u91cf\u8054\u884c (JLL) \u7684\u6570\u636e\uff0c\u9884\u8ba1 2025 \u5e74\u5168\u7403\u6570\u636e\u4e2d\u5fc3\u9700\u6c42\u5c06\u98d9\u5347\uff0c\u9884\u8ba1\u5c06\u6709 10GW \u7684\u5bb9\u91cf\u7834\u571f\u52a8\u5de5\uff0c\u5e76\u9884\u8ba1\u5c06\u5b8c\u6210 7GW \u7684\u5bb9\u91cf\u3002 \u7531\u4eba\u5de5\u667a\u80fd\u548c\u534a\u5bfc\u4f53\u8fdb\u6b65\u63a8\u52a8\u7684\u5e02\u573a\u589e\u957f\u9884\u8ba1\u5728 2027 \u5e74\u4e4b\u524d\u8fbe\u5230 15%-20% \u7684\u590d\u5408\u5e74\u589e\u957f\u7387\u3002 AI \u5de5\u4f5c\u8d1f\u8f7d\u63a8\u52a8\u4e86\u66f4\u9ad8\u7684\u529f\u7387\u5bc6\u5ea6\uff0c\u82af\u7247\u529f\u7387\u8fbe\u5230\u6bcf\u673a\u67b6 250kW\uff0c\u5c3d\u7ba1\u4f20\u7edf\u5de5\u4f5c\u8d1f\u8f7d\u4ecd\u5c06\u5360\u4e3b\u5bfc\u5730\u4f4d\uff0c\u5230 2030 \u5e74\u5c06\u5360\u9700\u6c42\u7684 50% \u4ee5\u4e0a\u3002 \u62dc\u767b\u653f\u5e9c\u4f18\u5148\u8003\u8651\u6570\u636e\u4e2d\u5fc3\u7684\u53d1\u5c55\uff0c\u5141\u8bb8\u79df\u8d41\u56fd\u9632\u90e8\u548c\u80fd\u6e90\u90e8\u7684\u5730\u70b9\u7528\u4e8e\u5343\u5146\u74e6\u7ea7 AI \u9879\u76ee\u3002 \u5f00\u53d1\u5546\u9700\u8981\u6574\u5408\u8db3\u591f\u6e05\u6d01\u80fd\u6e90\u8d44\u6e90\u6765\u6ee1\u8db3\u8fd9\u4e9b\u8bbe\u65bd\u7684\u7535\u529b\u9700\u6c42\u3002 \u6b64\u5916\uff0c\u4e00\u5bb6\u8d85\u5927\u89c4\u6a21\u4f01\u4e1a\u8ba1\u5212\u5728\u7f8e\u56fd\u5efa\u7acb 20 \u4e2a\u8fb9\u7f18\u6570\u636e\u4e2d\u5fc3\uff0c\u4ee5\u964d\u4f4e\u5ef6\u8fdf\u5e76\u63d0\u9ad8\u5197\u4f59\u6027\u3002 \u5728\u5168\u7403\u8303\u56f4\u5185\uff0c\u897f\u73ed\u7259\u5c06\u901a\u8fc7\u516c\u79c1\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u5f00\u53d1\u4e24\u4e2a\u5343\u5146\u74e6\u7ea7\u56ed\u533a\uff0c\u800c Aligned Data Centers \u5df2\u7b79\u96c6 120 \u4ebf\u7f8e\u5143\u7528\u4e8e\u8d44\u52a9\u5176\u6269\u5f20\u3002 \u9ea6\u683c\u7406\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u5c06\u5411 Applied Digital \u6295\u8d44 50 \u4ebf\u7f8e\u5143\uff0c\u652f\u6301\u5176 AI \u548c HPC \u8bbe\u65bd\u3002 \u535a\u901a\u6709\u671b\u4ece\u8fd9\u4e00\u589e\u957f\u4e2d\u53d7\u76ca\uff0c\u63d0\u4f9b\u4f18\u5316\u670d\u52a1\u5668\u901f\u5ea6\u3001\u6b63\u5e38\u8fd0\u884c\u65f6\u95f4\u548c\u5b58\u50a8\u8fde\u63a5\u7684\u89e3\u51b3\u65b9\u6848\uff0c\u964d\u4f4e\u8d85\u5927\u89c4\u6a21\u90e8\u7f72\u7684\u6210\u672c\u548c\u590d\u6742\u6027\u3002 \u968f\u7740\u5168\u7403\u6570\u636e\u4e2d\u5fc3\u6269\u5f20\u52a0\u901f\uff0c\u8fd9\u4e9b\u53d1\u5c55\u53ef\u80fd\u4f1a\u63a8\u52a8\u5176\u57fa\u7840\u8bbe\u65bd\u8f6f\u4ef6\u6536\u5165\u589e\u957f\u3002<\/li>\n\n\n\n<li><strong>24\u5e74\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\u3002 <\/strong>\u535a\u901a 2024 \u5e74\u7b2c\u56db\u5b63\u5ea6\u6536\u5165\u540c\u6bd4\u589e\u957f 51% \u81f3 140.54 \u4ebf\u7f8e\u5143\uff0c\u800c 2024 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4e3a 92.95 \u4ebf\u7f8e\u5143\uff0c\u8fd9\u662f\u7531\u4e8e VMware \u6210\u529f\u6574\u5408\u548c AI \u6536\u5165\u589e\u957f\u6240\u81f4\u3002 \u8be5\u5b63\u5ea6\u5b9e\u73b0 GAAP \u51c0\u6536\u5165 43.24 \u4ebf\u7f8e\u5143\u548c\u975e GAAP \u51c0\u6536\u5165 69.65 \u4ebf\u7f8e\u5143\u3002 GAAP \u7a00\u91ca\u6bcf\u80a1\u6536\u76ca\u4e3a 0.90 \u7f8e\u5143\uff0c\u975e GAAP \u7a00\u91ca\u6bcf\u80a1\u6536\u76ca\u4e3a 1.42 \u7f8e\u5143\u3002 \u516c\u53f8\u8fd8\u5ba3\u5e03\u5c06\u5b63\u5ea6\u666e\u901a\u80a1\u80a1\u606f\u540c\u6bd4\u63d0\u9ad8 11% \u81f3\u6bcf\u80a1 0.59 \u7f8e\u5143\u3002 \u5c55\u671b\u672a\u6765\uff0c\u535a\u901a\u9884\u8ba1 2025 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u6536\u5165\u7ea6\u4e3a 146 \u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f 22%\uff0c\u9884\u8ba1\u8c03\u6574\u540e EBITDA \u7ea6\u4e3a\u9884\u8ba1\u6536\u5165\u7684 66%\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-numbers-4.png\" alt=\"A blue and white rectangular object with numbers\n\nDescription automatically generated\" class=\"wp-image-59891\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-numbers-4.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-numbers-4-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"597\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-white-background-description-automat-7.jpeg\" alt=\"A graph on a white background\n\nDescription automatically generated\" class=\"wp-image-59892\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-white-background-description-automat-7.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-white-background-description-automat-7-300x115.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-white-background-description-automat-7-1024x393.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-white-background-description-automat-7-768x295.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-white-background-description-automat-7-1536x589.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"200\" class=\"wp-image-59893\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-long-line-of-a-flag-description-automatically-g-14.png\" alt=\"A long line of a flag\n\nDescription automatically generated with medium confidence\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-long-line-of-a-flag-description-automatically-g-14.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-long-line-of-a-flag-description-automatically-g-14-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-long-line-of-a-flag-description-automatically-g-14-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u76f4\u89c9\u5916\u79d1\u516c\u53f8(ISRG US)\uff1a\u5bf9\u673a\u5668\u4eba\u533b\u7597\u7cfb\u7edf\u7684\u4f9d\u8d56\u589e\u52a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a544\uff0c\u76ee\u6807\u4ef7\uff1a600\uff0c\u6b62\u635f\u4ef7\uff1a516<\/strong><\/li>\n\n\n\n<li>\u76f4\u89c9\u5916\u79d1\u516c\u53f8\u5f00\u53d1\u3001\u751f\u4ea7\u5e76\u9500\u552e\u4ea7\u54c1\uff0c\u5e2e\u52a9\u533b\u751f\u548c\u533b\u7597\u63d0\u4f9b\u8005\u63d0\u5347\u5fae\u521b\u533b\u7597\u7684\u54c1\u8d28\u4e0e\u53ef\u53ca\u6027\uff0c\u670d\u52a1\u8303\u56f4\u6db5\u76d6\u7f8e\u56fd\u53ca\u56fd\u9645\u5e02\u573a\u3002<\/li>\n\n\n\n<li><strong>\u5168\u7403\u673a\u5668\u4eba\u624b\u672f\u7cfb\u7edf\u9f99\u5934 \u3002<\/strong>\u516c\u53f8\u7684\u6838\u5fc3\u4ea7\u54c1\u8fbe\u6587\u897f\u624b\u672f\u7cfb\u7edf (da Vinci Surgical System) \u88ab\u5e7f\u6cdb\u5e94\u7528\u4e8e\u6ccc\u5c3f\u79d1\u3001\u5987\u79d1\u3001\u666e\u901a\u5916\u79d1\u7b49\u9886\u57df\uff0c\u62e5\u6709\u8d85\u8fc78,200\u53f0\u7cfb\u7edf\u7684\u5168\u7403\u5b89\u88c5\u57fa\u7840\u3002\u516c\u53f8\u91c7\u7528\u5243\u5200\u4e0e\u5200\u7247\u7684\u5546\u4e1a\u6a21\u5f0f\uff0c\u9664\u4e86\u9500\u552e\u673a\u5668\u4eba\u7cfb\u7edf\uff0c\u8fd8\u900f\u8fc7\u8017\u6750\u3001\u624b\u672f\u670d\u52a1\u4e0e\u7ef4\u62a4\u8d39\u7528\u83b7\u5f97\u7a33\u5b9a\u7684\u7ecf\u5e38\u6027\u6536\u5165\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u589e\u957f\u524d\u666f\u5e7f\u9614\u3002 <\/strong>\u5f53\u524d\u8f6f\u7ec4\u7ec7\u624b\u672f\u603b\u76ee\u6807\u5e02\u573a (Total addressable market) \u4e3a600\u4e07\uff0c\u800c\u516c\u53f8\u7684\u5e02\u573a\u4efd\u989d\u5360\u7ea630%\u3002\u516c\u53f8\u9884\u6d4b\u5168\u7403\u603b\u76ee\u6807\u5e02\u573a\u4e3a2,000\u4e07\uff0c\u56e0\u6b64\u5e02\u573a\u4efd\u989d\u63d0\u5347\u7a7a\u95f4\u5de8\u5927\u3002\u516c\u53f8\u8fbe\u6587\u897f\u7cfb\u7edf\u9500\u552e\u7ef4\u6301\u9ad8\u901f\u589e\u957f\uff0c24\u8d22\u5e74\u524d\u4e09\u5b63\uff0c\u516c\u53f8\u5356\u51fa379\u5957\u7cfb\u7edf\uff0c\u540c\u6bd4\u589e\u957f22%\u3002\u516c\u53f8\u9884\u671f2024\u5e74\u5168\u5e74\u8425\u6536\u589e\u901f\u4e3a14.8%\uff0c\u9ad8\u4e8e\u673a\u5668\u4eba\u624b\u672f\u884c\u4e1a\u768414.5%\u589e\u901f\uff0c\u540c\u65f6\u8be5\u589e\u901f\u4e5f\u662f\u540c\u884c\u4e2d\u6700\u9ad8\u7684\u3002<\/li>\n\n\n\n<li><strong>24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e1a\u7ee9\u3002 <\/strong>\u76f4\u89c9\u5916\u79d1\u516c\u53f8\u7684\u6536\u5165\u5728 2024 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u589e\u957f 17% \u81f3 20.4 \u4ebf\u7f8e\u5143\uff0c\u800c 2023 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a 17.4 \u4ebf\u7f8e\u5143\u3002\u622a\u81f3 2024 \u5e74 9 \u6708 30 \u65e5\uff0c\u516c\u53f8\u7684\u8fbe\u82ac\u5947\u624b\u672f\u7cfb\u7edf\u5b89\u88c5\u57fa\u6570\u589e\u81f3 9,539 \u5957\uff0c\u8f83 2023 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u672b\u7684 8,285 \u5957\u589e\u52a0\u4e86 15%\uff0c\u5168\u7403\u8fbe\u82ac\u5947\u624b\u672f\u540c\u6bd4\u589e\u957f\u7ea6 18%\u3002\u516c\u53f8\u5f52\u5c5e\u4e8e \u76f4\u89c9\u5916\u79d1\u7684\u975e\u516c\u8ba4\u4f1a\u8ba1\u539f\u5219\u51c0\u5229\u6da6\u4e3a 6.69 \u4ebf\u7f8e\u5143\uff0c\u5373\u7a00\u91ca\u540e\u6bcf\u80a1\u6536\u76ca 1.84 \u7f8e\u5143\uff0c\u800c 2023 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a 5.24 \u4ebf\u7f8e\u5143\uff0c\u5373\u7a00\u91ca\u540e\u6bcf\u80a1\u6536\u76ca 1.46 \u7f8e\u5143\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-numbers-5.png\" alt=\"A blue and white rectangular object with numbers\n\nDescription automatically generated\" class=\"wp-image-59894\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-numbers-5.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-blue-and-white-rectangular-object-with-numbers-5-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1229\" height=\"558\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-screen-description-automatically-gen-4.jpeg\" alt=\"A graph on a screen\n\nDescription automatically generated\" class=\"wp-image-59895\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-screen-description-automatically-gen-4.jpeg 1229w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-screen-description-automatically-gen-4-300x136.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-screen-description-automatically-gen-4-1024x465.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/a-graph-on-a-screen-description-automatically-gen-4-768x349.jpeg 768w\" sizes=\"(max-width: 1229px) 100vw, 1229px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0<\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-59866-_va9jaog5jnw3\"><\/a><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-59896\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-30.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-30.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-30-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/h3>\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\/2025\/01\/word-image-59866-31.png\" alt=\"\" class=\"wp-image-59897\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-31.png 618w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-31-300x62.png 300w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Cut loss on Lenovo Group Ltd (992 HK) at HK$9.1.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"528\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-32.png\" alt=\"\" class=\"wp-image-59898\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-32.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-32-300x168.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/word-image-59866-32-768x430.png 768w\" sizes=\"(max-width: 943px) 100vw, 943px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-56591-_tiry8p5xvcqk\"><\/a><\/h3>\n\n\n\n<div class=\"wp-block-uagb-image alignleft uagb-block-971ecb1b wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-left\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/www.kgieworld.sg\/research\/KGISGWA\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png\" alt=\"\" class=\"uag-image-59753\" width=\"637\" height=\"174\" title=\"Get more from KGI on WhatsApp.\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/t.me\/kgisg\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69.png\" alt=\"\" class=\"wp-image-15031\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/a><\/figure>\n\n\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 \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u00a0 Seatrium Ltd(STM SP)\uff1a\u8de8\u5883\u5408\u4f5c\u7684\u6f5c\u5728\u589e\u957f (Source: Bloomberg) ISOTeam Ltd(ISO SP)\uff1a\u6269\u5927\u65e0\u4eba\u673a\u80fd\u529b (Source: Bloomberg) \u4e2d\u56fd\u94dd\u4e1a(2600 HK)\uff1a\u94dd\u4ef7\u53cd\u5f39 \u94dd\u73b0\u8d27\u4ef7\u683c (Source: Bloomberg) (Source: Bloomberg) \u7d2b\u91d1\u77ff\u4e1a\u96c6\u56e2(2899 HK)\uff1a\u8f6c\u5411\u9502 \u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\u9ec4\u91d1\u50a8\u5907 (Source: PBoC, World Gold Council) \u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf (Source: Bloomberg) (Source: Bloomberg) \u535a\u901a\u516c\u53f8(AVGO US)\uff1a\u8ba2\u5355\u7c3f\u5df2\u83b7\u4fdd\u969c (Source: Bloomberg) \u76f4\u89c9\u5916\u79d1\u516c\u53f8(ISRG US)\uff1a\u5bf9\u673a\u5668\u4eba\u533b\u7597\u7cfb\u7edf\u7684\u4f9d\u8d56\u589e\u52a0 (Source: Bloomberg) \u00a0 [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":38071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-59866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kgi-daily-trading-ideas-chinese"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"\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 \u7f8e\u56fd \u9999\u6e2f ^ Back To Top (Source: Bloomberg) (Source: Bloomberg) \u6f5c\u5728\u7684\u94dd\u5236\u88c1\u3002\u636e\u62a5\u9053\uff0c\u6b27\u76df\u6b63\u5728\u8003\u8651\u5bf9\u4fc4\u7f57\u65af\u94dd\u5b9e\u65bd\u989d\u5916\u7684\u8fdb\u53e3\u9650\u5236\uff0c\u4f5c\u4e3a\u5176\u9488\u5bf9\u83ab\u65af\u79d1\u7684\u7b2c16\u8f6e\u5236\u88c1\u7684\u4e00\u90e8\u5206\uff0c\u4ee5\u56de\u5e94\u4fc4\u7f57\u65af\u5bf9\u4e4c\u514b\u5170\u7684\u5165\u4fb5\u3002\u8fd9\u4e9b\u63aa\u65bd\u9884\u8ba1\u5c06\u4e0e\u6218\u4e89\u4e09\u5468\u5e74\u540c\u6b65\u63a8\u51fa\u3002\u636e\u62a5\u9053\uff0c\u8fd9\u4e9b\u9650\u5236\u63aa\u65bd\u5c06\u9010\u6b65\u5b9e\u65bd\uff0c\u5177\u4f53\u65f6\u95f4\u8868\u548c\u8303\u56f4\u5c1a\u672a\u6700\u7ec8\u786e\u5b9a\u3002\u4fc4\u7f57\u65af\u662f\u4e2d\u56fd\u4ee5\u5916\u5168\u7403\u6700\u5927\u7684\u94dd\u751f\u4ea7\u56fd\uff0c\u5360\u5168\u7403\u94dd\u4ea7\u91cf\u7684\u7ea65%\u3002\u5982\u679c\u5236\u88c1\u843d\u5b9e\uff0c\u53ef\u80fd\u4f1a\u6270\u4e71\u5168\u7403\u94dd\u4f9b\u5e94\u94fe\uff0c\u52a0\u5267\u672c\u5df2\u7d27\u5f20\u7684\u5e02\u573a\u538b\u529b\uff0c\u4ece\u800c\u63a8\u52a8\u94dd\u4ef7\u4e0a\u6da8\uff0c\u53cd\u6620\u51fa\u4f9b\u5e94\u51cf\u5c11\u7684\u9884\u671f\u3002 \u62e5\u62b1\u4eba\u5de5\u667a\u80fd\u3002\u4e2d\u56fd\u94dd\u4e1a\u516c\u53f8\uff08Chalco\uff09\u8fd1\u65e5\u5ba3\u5e03\u4e0e\u6709\u8272\u91d1\u5c5e\u884c\u4e1a\u540c\u884c\u8fbe\u6210\u6218\u7565\u5408\u4f5c\uff0c\u5171\u540c\u63a8\u8fdb\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6570\u5b57\u5316\u5f00\u53d1\u548c\u5e94\u7528\u3002\u8be5\u8ba1\u5212\u9884\u8ba1\u5c06\u83b7\u5f97\u4e2d\u56fd\u6709\u8272\u91d1\u5c5e\u5de5\u4e1a\u534f\u4f1a\u3001\u76f8\u5173\u653f\u5e9c\u90e8\u95e8\u53ca\u5176\u4ed6\u5408\u4f5c\u4f19\u4f34\u7684\u652f\u6301\u3002\u4f5c\u4e3a\u6709\u8272\u91d1\u5c5e\u9886\u57df\u7684\u9f99\u5934\u4f01\u4e1a\uff0c\u4e2d\u56fd\u94dd\u4e1a\u5df2\u5efa\u7acb\u81ea\u4e3b\u53ef\u63a7\u7684\u4eba\u5de5\u667a\u80fd\u8ba1\u7b97\u4e2d\u5fc3\uff0c\u5e76\u5f00\u53d1\u4e86\u4e1a\u5185\u9996\u4e2a\u901a\u7528\u578b\u5927\u8bed\u8a00\u6a21\u578b\u201c\u6606\u5b89\u201d\u3002\u6606\u5b89\u5229\u7528\u4eba\u5de5\u667a\u80fd\u6280\u672f\uff0c\u4f18\u5316\u884c\u4e1a\u7684\u8fd0\u8425\u5de5\u4f5c\u6d41\u7a0b\uff0c\u8986\u76d6\u52d8\u63a2\u3001\u5f00\u91c7\u3001\u52a0\u5de5\u548c\u56de\u6536\u7b49\u591a\u4e2a\u73af\u8282\u3002\u6b64\u5916\uff0c\u6606\u5b89\u8fd8\u5f3a\u5316\u4e86\u77ff\u4ea7\u8d44\u6e90\u3001\u751f\u4ea7\u6d41\u7a0b\u3001\u7f51\u7edc\u3001\u6570\u636e\u548c\u7b97\u6cd5\u7b49\u5173\u952e\u9886\u57df\u7684\u5b89\u5168\u4fdd\u969c\u3002\u5c55\u671b\u672a\u6765\uff0c\u4e2d\u56fd\u94dd\u4e1a\u8ba1\u5212\u8fdb\u4e00\u6b65\u5de9\u56fa\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6280\u672f\u57fa\u7840\uff0c\u52a0\u5feb\u8ba4\u77e5\u667a\u80fd\u64cd\u4f5c\u7cfb\u7edf\u548c\u5173\u952e\u5de5\u4e1a\u4eba\u5de5\u667a\u80fd\u6280\u672f\u7684\u7a81\u7834\uff0c\u5e76\u63a8\u52a8\u8d44\u672c\u3001\u4eba\u624d\u3001\u6280\u672f\u3001\u6570\u636e\u548c\u7b97\u529b\u7684\u6df1\u5ea6\u878d\u5408\u3002\u8fd9\u79cd\u534f\u540c\u6548\u5e94\u5c06\u4fc3\u8fdb\u534f\u540c\u521b\u65b0\uff0c\u63a8\u52a8\u884c\u4e1a\u5411\u9ad8\u8d28\u91cf\u53d1\u5c55\u8fc8\u8fdb\uff0c\u5e76\u52a0\u901f\u57f9\u80b2\u65b0\u7684\u9ad8\u4ef7\u503c\u751f\u4ea7\u529b\u3002 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: PBoC, World Gold Council) \u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002 \u4e16\u754c\u9ec4\u91d1\u534f\u4f1a\u5728\u51762025\u5e74\u9ec4\u91d1\u5c55\u671b\u4e2d\u5f3a\u8c03\uff0c\u5982\u679c\u7ecf\u6d4e\u8868\u73b0\u7b26\u5408\u5e02\u573a\u666e\u904d\u9884\u671f\uff0c\u91d1\u4ef7\u5e94\u4ee5\u6bd4\u4eca\u5e74\u66f4\u6e29\u548c\u7684\u901f\u5ea6\u4e0a\u6da8\u3002\u5982\u679c\u592e\u884c\u9700\u6c42\u5f3a\u4e8e\u9884\u671f\u6216\u91d1\u878d\u72b6\u51b5\u8fc5\u901f\u6076\u5316\u5f15\u53d1\u907f\u9669\u9700\u6c42\uff0c\u9ec4\u91d1\u4ecd\u6709\u4e0a\u6da8\u6f5c\u529b\u2014\u2014\u5c3d\u7ba1\u5229\u7387\u964d\u606f\u5468\u671f\u9006\u8f6c\u5c06\u5e26\u6765\u6311\u6218\u3002\u5bf9\u6b27\u6d32\u4e3b\u6743\u503a\u52a1\u4e0d\u65ad\u589e\u52a0\u7684\u62c5\u5fe7\uff0c\u518d\u52a0\u4e0a\u4e2d\u4e1c\u3001\u4e1c\u6b27\u7b49\u5730\u6301\u7eed\u7684\u5730\u7f18\u653f\u6cbb\u4e0d\u7a33\u5b9a\uff0c\u4e5f\u7ee7\u7eed\u4e3a\u91d1\u4ef7\u63d0\u4f9b\u652f\u6491\u3002\u5e02\u573a\u76ee\u524d\u9884\u8ba12025\u5e74\u7f8e\u56fd\u5c06\u964d\u606f\u7ea6100\u4e2a\u57fa\u70b9\uff0c\u6b27\u6d32\u592e\u884c\u9884\u8ba1\u4e5f\u5c06\u964d\u606f\u7c7b\u4f3c\u5e45\u5ea6\u3002\u8fd9\u4e5f\u6709\u53ef\u80fd\u5bf9\u91d1\u4ef7\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\uff0c\u5c31\u50cf\u9884\u671f\u7f8e\u5143\u6c47\u7387\u6301\u5e73\u6216\u5c0f\u5e45\u8d70\u5f31\u4e00\u6837\uff0c\u56e0\u4e3a\u7ecf\u6d4e\u72b6\u51b5\u5c06\u8d8b\u4e8e\u6b63\u5e38\u5316\u3002 \u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf (Source: Bloomberg) 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u3002 2024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f7.11%\u81f3800\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a747\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f54.8%\u81f3112\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a72.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.349\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.223\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: Bloomberg) (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: Cut\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Jiong Han Lee\"\/>\n\t<meta name=\"keywords\" content=\"kgi daily trading ideas 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\u6f5c\u5728\u7684\u94dd\u5236\u88c1\u3002\u636e\u62a5\u9053\uff0c\u6b27\u76df\u6b63\u5728\u8003\u8651\u5bf9\u4fc4\u7f57\u65af\u94dd\u5b9e\u65bd\u989d\u5916\u7684\u8fdb\u53e3\u9650\u5236\uff0c\u4f5c\u4e3a\u5176\u9488\u5bf9\u83ab\u65af\u79d1\u7684\u7b2c16\u8f6e\u5236\u88c1\u7684\u4e00\u90e8\u5206\uff0c\u4ee5\u56de\u5e94\u4fc4\u7f57\u65af\u5bf9\u4e4c\u514b\u5170\u7684\u5165\u4fb5\u3002\u8fd9\u4e9b\u63aa\u65bd\u9884\u8ba1\u5c06\u4e0e\u6218\u4e89\u4e09\u5468\u5e74\u540c\u6b65\u63a8\u51fa\u3002\u636e\u62a5\u9053\uff0c\u8fd9\u4e9b\u9650\u5236\u63aa\u65bd\u5c06\u9010\u6b65\u5b9e\u65bd\uff0c\u5177\u4f53\u65f6\u95f4\u8868\u548c\u8303\u56f4\u5c1a\u672a\u6700\u7ec8\u786e\u5b9a\u3002\u4fc4\u7f57\u65af\u662f\u4e2d\u56fd\u4ee5\u5916\u5168\u7403\u6700\u5927\u7684\u94dd\u751f\u4ea7\u56fd\uff0c\u5360\u5168\u7403\u94dd\u4ea7\u91cf\u7684\u7ea65%\u3002\u5982\u679c\u5236\u88c1\u843d\u5b9e\uff0c\u53ef\u80fd\u4f1a\u6270\u4e71\u5168\u7403\u94dd\u4f9b\u5e94\u94fe\uff0c\u52a0\u5267\u672c\u5df2\u7d27\u5f20\u7684\u5e02\u573a\u538b\u529b\uff0c\u4ece\u800c\u63a8\u52a8\u94dd\u4ef7\u4e0a\u6da8\uff0c\u53cd\u6620\u51fa\u4f9b\u5e94\u51cf\u5c11\u7684\u9884\u671f\u3002 \u62e5\u62b1\u4eba\u5de5\u667a\u80fd\u3002\u4e2d\u56fd\u94dd\u4e1a\u516c\u53f8\uff08Chalco\uff09\u8fd1\u65e5\u5ba3\u5e03\u4e0e\u6709\u8272\u91d1\u5c5e\u884c\u4e1a\u540c\u884c\u8fbe\u6210\u6218\u7565\u5408\u4f5c\uff0c\u5171\u540c\u63a8\u8fdb\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6570\u5b57\u5316\u5f00\u53d1\u548c\u5e94\u7528\u3002\u8be5\u8ba1\u5212\u9884\u8ba1\u5c06\u83b7\u5f97\u4e2d\u56fd\u6709\u8272\u91d1\u5c5e\u5de5\u4e1a\u534f\u4f1a\u3001\u76f8\u5173\u653f\u5e9c\u90e8\u95e8\u53ca\u5176\u4ed6\u5408\u4f5c\u4f19\u4f34\u7684\u652f\u6301\u3002\u4f5c\u4e3a\u6709\u8272\u91d1\u5c5e\u9886\u57df\u7684\u9f99\u5934\u4f01\u4e1a\uff0c\u4e2d\u56fd\u94dd\u4e1a\u5df2\u5efa\u7acb\u81ea\u4e3b\u53ef\u63a7\u7684\u4eba\u5de5\u667a\u80fd\u8ba1\u7b97\u4e2d\u5fc3\uff0c\u5e76\u5f00\u53d1\u4e86\u4e1a\u5185\u9996\u4e2a\u901a\u7528\u578b\u5927\u8bed\u8a00\u6a21\u578b\u201c\u6606\u5b89\u201d\u3002\u6606\u5b89\u5229\u7528\u4eba\u5de5\u667a\u80fd\u6280\u672f\uff0c\u4f18\u5316\u884c\u4e1a\u7684\u8fd0\u8425\u5de5\u4f5c\u6d41\u7a0b\uff0c\u8986\u76d6\u52d8\u63a2\u3001\u5f00\u91c7\u3001\u52a0\u5de5\u548c\u56de\u6536\u7b49\u591a\u4e2a\u73af\u8282\u3002\u6b64\u5916\uff0c\u6606\u5b89\u8fd8\u5f3a\u5316\u4e86\u77ff\u4ea7\u8d44\u6e90\u3001\u751f\u4ea7\u6d41\u7a0b\u3001\u7f51\u7edc\u3001\u6570\u636e\u548c\u7b97\u6cd5\u7b49\u5173\u952e\u9886\u57df\u7684\u5b89\u5168\u4fdd\u969c\u3002\u5c55\u671b\u672a\u6765\uff0c\u4e2d\u56fd\u94dd\u4e1a\u8ba1\u5212\u8fdb\u4e00\u6b65\u5de9\u56fa\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6280\u672f\u57fa\u7840\uff0c\u52a0\u5feb\u8ba4\u77e5\u667a\u80fd\u64cd\u4f5c\u7cfb\u7edf\u548c\u5173\u952e\u5de5\u4e1a\u4eba\u5de5\u667a\u80fd\u6280\u672f\u7684\u7a81\u7834\uff0c\u5e76\u63a8\u52a8\u8d44\u672c\u3001\u4eba\u624d\u3001\u6280\u672f\u3001\u6570\u636e\u548c\u7b97\u529b\u7684\u6df1\u5ea6\u878d\u5408\u3002\u8fd9\u79cd\u534f\u540c\u6548\u5e94\u5c06\u4fc3\u8fdb\u534f\u540c\u521b\u65b0\uff0c\u63a8\u52a8\u884c\u4e1a\u5411\u9ad8\u8d28\u91cf\u53d1\u5c55\u8fc8\u8fdb\uff0c\u5e76\u52a0\u901f\u57f9\u80b2\u65b0\u7684\u9ad8\u4ef7\u503c\u751f\u4ea7\u529b\u3002 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: PBoC, World Gold Council) \u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002 \u4e16\u754c\u9ec4\u91d1\u534f\u4f1a\u5728\u51762025\u5e74\u9ec4\u91d1\u5c55\u671b\u4e2d\u5f3a\u8c03\uff0c\u5982\u679c\u7ecf\u6d4e\u8868\u73b0\u7b26\u5408\u5e02\u573a\u666e\u904d\u9884\u671f\uff0c\u91d1\u4ef7\u5e94\u4ee5\u6bd4\u4eca\u5e74\u66f4\u6e29\u548c\u7684\u901f\u5ea6\u4e0a\u6da8\u3002\u5982\u679c\u592e\u884c\u9700\u6c42\u5f3a\u4e8e\u9884\u671f\u6216\u91d1\u878d\u72b6\u51b5\u8fc5\u901f\u6076\u5316\u5f15\u53d1\u907f\u9669\u9700\u6c42\uff0c\u9ec4\u91d1\u4ecd\u6709\u4e0a\u6da8\u6f5c\u529b\u2014\u2014\u5c3d\u7ba1\u5229\u7387\u964d\u606f\u5468\u671f\u9006\u8f6c\u5c06\u5e26\u6765\u6311\u6218\u3002\u5bf9\u6b27\u6d32\u4e3b\u6743\u503a\u52a1\u4e0d\u65ad\u589e\u52a0\u7684\u62c5\u5fe7\uff0c\u518d\u52a0\u4e0a\u4e2d\u4e1c\u3001\u4e1c\u6b27\u7b49\u5730\u6301\u7eed\u7684\u5730\u7f18\u653f\u6cbb\u4e0d\u7a33\u5b9a\uff0c\u4e5f\u7ee7\u7eed\u4e3a\u91d1\u4ef7\u63d0\u4f9b\u652f\u6491\u3002\u5e02\u573a\u76ee\u524d\u9884\u8ba12025\u5e74\u7f8e\u56fd\u5c06\u964d\u606f\u7ea6100\u4e2a\u57fa\u70b9\uff0c\u6b27\u6d32\u592e\u884c\u9884\u8ba1\u4e5f\u5c06\u964d\u606f\u7c7b\u4f3c\u5e45\u5ea6\u3002\u8fd9\u4e5f\u6709\u53ef\u80fd\u5bf9\u91d1\u4ef7\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\uff0c\u5c31\u50cf\u9884\u671f\u7f8e\u5143\u6c47\u7387\u6301\u5e73\u6216\u5c0f\u5e45\u8d70\u5f31\u4e00\u6837\uff0c\u56e0\u4e3a\u7ecf\u6d4e\u72b6\u51b5\u5c06\u8d8b\u4e8e\u6b63\u5e38\u5316\u3002 \u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf (Source: Bloomberg) 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u3002 2024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f7.11%\u81f3800\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a747\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f54.8%\u81f3112\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a72.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.349\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.223\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: Bloomberg) (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: Cut\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-17-jan-2025-zh\/\" \/>\n\t\t<meta property=\"og:image\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<meta property=\"og:image:secure_url\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2025-01-16T12:25:55+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-01-17T03:02:11+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"2025\u5e741\u670817\u65e5: Seatrium Ltd(STM SP), \u4e2d\u56fd\u94dd\u4e1a(2600 HK), \u535a\u901a\u516c\u53f8(AVGO US) \u2022 KGI Singapore Research\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\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 \u7f8e\u56fd 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\u6f5c\u5728\u7684\u94dd\u5236\u88c1\u3002\u636e\u62a5\u9053\uff0c\u6b27\u76df\u6b63\u5728\u8003\u8651\u5bf9\u4fc4\u7f57\u65af\u94dd\u5b9e\u65bd\u989d\u5916\u7684\u8fdb\u53e3\u9650\u5236\uff0c\u4f5c\u4e3a\u5176\u9488\u5bf9\u83ab\u65af\u79d1\u7684\u7b2c16\u8f6e\u5236\u88c1\u7684\u4e00\u90e8\u5206\uff0c\u4ee5\u56de\u5e94\u4fc4\u7f57\u65af\u5bf9\u4e4c\u514b\u5170\u7684\u5165\u4fb5\u3002\u8fd9\u4e9b\u63aa\u65bd\u9884\u8ba1\u5c06\u4e0e\u6218\u4e89\u4e09\u5468\u5e74\u540c\u6b65\u63a8\u51fa\u3002\u636e\u62a5\u9053\uff0c\u8fd9\u4e9b\u9650\u5236\u63aa\u65bd\u5c06\u9010\u6b65\u5b9e\u65bd\uff0c\u5177\u4f53\u65f6\u95f4\u8868\u548c\u8303\u56f4\u5c1a\u672a\u6700\u7ec8\u786e\u5b9a\u3002\u4fc4\u7f57\u65af\u662f\u4e2d\u56fd\u4ee5\u5916\u5168\u7403\u6700\u5927\u7684\u94dd\u751f\u4ea7\u56fd\uff0c\u5360\u5168\u7403\u94dd\u4ea7\u91cf\u7684\u7ea65%\u3002\u5982\u679c\u5236\u88c1\u843d\u5b9e\uff0c\u53ef\u80fd\u4f1a\u6270\u4e71\u5168\u7403\u94dd\u4f9b\u5e94\u94fe\uff0c\u52a0\u5267\u672c\u5df2\u7d27\u5f20\u7684\u5e02\u573a\u538b\u529b\uff0c\u4ece\u800c\u63a8\u52a8\u94dd\u4ef7\u4e0a\u6da8\uff0c\u53cd\u6620\u51fa\u4f9b\u5e94\u51cf\u5c11\u7684\u9884\u671f\u3002 \u62e5\u62b1\u4eba\u5de5\u667a\u80fd\u3002\u4e2d\u56fd\u94dd\u4e1a\u516c\u53f8\uff08Chalco\uff09\u8fd1\u65e5\u5ba3\u5e03\u4e0e\u6709\u8272\u91d1\u5c5e\u884c\u4e1a\u540c\u884c\u8fbe\u6210\u6218\u7565\u5408\u4f5c\uff0c\u5171\u540c\u63a8\u8fdb\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6570\u5b57\u5316\u5f00\u53d1\u548c\u5e94\u7528\u3002\u8be5\u8ba1\u5212\u9884\u8ba1\u5c06\u83b7\u5f97\u4e2d\u56fd\u6709\u8272\u91d1\u5c5e\u5de5\u4e1a\u534f\u4f1a\u3001\u76f8\u5173\u653f\u5e9c\u90e8\u95e8\u53ca\u5176\u4ed6\u5408\u4f5c\u4f19\u4f34\u7684\u652f\u6301\u3002\u4f5c\u4e3a\u6709\u8272\u91d1\u5c5e\u9886\u57df\u7684\u9f99\u5934\u4f01\u4e1a\uff0c\u4e2d\u56fd\u94dd\u4e1a\u5df2\u5efa\u7acb\u81ea\u4e3b\u53ef\u63a7\u7684\u4eba\u5de5\u667a\u80fd\u8ba1\u7b97\u4e2d\u5fc3\uff0c\u5e76\u5f00\u53d1\u4e86\u4e1a\u5185\u9996\u4e2a\u901a\u7528\u578b\u5927\u8bed\u8a00\u6a21\u578b\u201c\u6606\u5b89\u201d\u3002\u6606\u5b89\u5229\u7528\u4eba\u5de5\u667a\u80fd\u6280\u672f\uff0c\u4f18\u5316\u884c\u4e1a\u7684\u8fd0\u8425\u5de5\u4f5c\u6d41\u7a0b\uff0c\u8986\u76d6\u52d8\u63a2\u3001\u5f00\u91c7\u3001\u52a0\u5de5\u548c\u56de\u6536\u7b49\u591a\u4e2a\u73af\u8282\u3002\u6b64\u5916\uff0c\u6606\u5b89\u8fd8\u5f3a\u5316\u4e86\u77ff\u4ea7\u8d44\u6e90\u3001\u751f\u4ea7\u6d41\u7a0b\u3001\u7f51\u7edc\u3001\u6570\u636e\u548c\u7b97\u6cd5\u7b49\u5173\u952e\u9886\u57df\u7684\u5b89\u5168\u4fdd\u969c\u3002\u5c55\u671b\u672a\u6765\uff0c\u4e2d\u56fd\u94dd\u4e1a\u8ba1\u5212\u8fdb\u4e00\u6b65\u5de9\u56fa\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6280\u672f\u57fa\u7840\uff0c\u52a0\u5feb\u8ba4\u77e5\u667a\u80fd\u64cd\u4f5c\u7cfb\u7edf\u548c\u5173\u952e\u5de5\u4e1a\u4eba\u5de5\u667a\u80fd\u6280\u672f\u7684\u7a81\u7834\uff0c\u5e76\u63a8\u52a8\u8d44\u672c\u3001\u4eba\u624d\u3001\u6280\u672f\u3001\u6570\u636e\u548c\u7b97\u529b\u7684\u6df1\u5ea6\u878d\u5408\u3002\u8fd9\u79cd\u534f\u540c\u6548\u5e94\u5c06\u4fc3\u8fdb\u534f\u540c\u521b\u65b0\uff0c\u63a8\u52a8\u884c\u4e1a\u5411\u9ad8\u8d28\u91cf\u53d1\u5c55\u8fc8\u8fdb\uff0c\u5e76\u52a0\u901f\u57f9\u80b2\u65b0\u7684\u9ad8\u4ef7\u503c\u751f\u4ea7\u529b\u3002 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: PBoC, World Gold Council) \u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002 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24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: PBoC, World Gold Council) \u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002 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\u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf (Source: Bloomberg) 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u3002 2024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f7.11%\u81f3800\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a747\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f54.8%\u81f3112\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a72.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.349\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.223\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: Bloomberg) (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: Cut","canonical_url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-17-jan-2025-zh\/","robots":"max-image-preview:large","keywords":"kgi daily trading ideas 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24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: PBoC, World Gold Council) \u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002 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\u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf (Source: Bloomberg) 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u3002 2024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f7.11%\u81f3800\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a747\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f54.8%\u81f3112\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a72.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.349\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.223\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: Bloomberg) (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: 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24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: PBoC, World Gold Council) \u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002 \u4e16\u754c\u9ec4\u91d1\u534f\u4f1a\u5728\u51762025\u5e74\u9ec4\u91d1\u5c55\u671b\u4e2d\u5f3a\u8c03\uff0c\u5982\u679c\u7ecf\u6d4e\u8868\u73b0\u7b26\u5408\u5e02\u573a\u666e\u904d\u9884\u671f\uff0c\u91d1\u4ef7\u5e94\u4ee5\u6bd4\u4eca\u5e74\u66f4\u6e29\u548c\u7684\u901f\u5ea6\u4e0a\u6da8\u3002\u5982\u679c\u592e\u884c\u9700\u6c42\u5f3a\u4e8e\u9884\u671f\u6216\u91d1\u878d\u72b6\u51b5\u8fc5\u901f\u6076\u5316\u5f15\u53d1\u907f\u9669\u9700\u6c42\uff0c\u9ec4\u91d1\u4ecd\u6709\u4e0a\u6da8\u6f5c\u529b\u2014\u2014\u5c3d\u7ba1\u5229\u7387\u964d\u606f\u5468\u671f\u9006\u8f6c\u5c06\u5e26\u6765\u6311\u6218\u3002\u5bf9\u6b27\u6d32\u4e3b\u6743\u503a\u52a1\u4e0d\u65ad\u589e\u52a0\u7684\u62c5\u5fe7\uff0c\u518d\u52a0\u4e0a\u4e2d\u4e1c\u3001\u4e1c\u6b27\u7b49\u5730\u6301\u7eed\u7684\u5730\u7f18\u653f\u6cbb\u4e0d\u7a33\u5b9a\uff0c\u4e5f\u7ee7\u7eed\u4e3a\u91d1\u4ef7\u63d0\u4f9b\u652f\u6491\u3002\u5e02\u573a\u76ee\u524d\u9884\u8ba12025\u5e74\u7f8e\u56fd\u5c06\u964d\u606f\u7ea6100\u4e2a\u57fa\u70b9\uff0c\u6b27\u6d32\u592e\u884c\u9884\u8ba1\u4e5f\u5c06\u964d\u606f\u7c7b\u4f3c\u5e45\u5ea6\u3002\u8fd9\u4e5f\u6709\u53ef\u80fd\u5bf9\u91d1\u4ef7\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\uff0c\u5c31\u50cf\u9884\u671f\u7f8e\u5143\u6c47\u7387\u6301\u5e73\u6216\u5c0f\u5e45\u8d70\u5f31\u4e00\u6837\uff0c\u56e0\u4e3a\u7ecf\u6d4e\u72b6\u51b5\u5c06\u8d8b\u4e8e\u6b63\u5e38\u5316\u3002 \u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf (Source: Bloomberg) 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u3002 2024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f7.11%\u81f3800\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a747\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f54.8%\u81f3112\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a72.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.349\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.223\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: Bloomberg) (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: Cut","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-17-jan-2025-zh\/","og:image":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","og:image:secure_url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","article:published_time":"2025-01-16T12:25:55+00:00","article:modified_time":"2025-01-17T03:02:11+00:00","twitter:card":"summary","twitter:title":"2025\u5e741\u670817\u65e5: Seatrium Ltd(STM SP), \u4e2d\u56fd\u94dd\u4e1a(2600 HK), \u535a\u901a\u516c\u53f8(AVGO US) \u2022 KGI Singapore Research","twitter:description":"\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 \u7f8e\u56fd \u9999\u6e2f ^ Back To Top (Source: Bloomberg) (Source: Bloomberg) 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\u62e5\u62b1\u4eba\u5de5\u667a\u80fd\u3002\u4e2d\u56fd\u94dd\u4e1a\u516c\u53f8\uff08Chalco\uff09\u8fd1\u65e5\u5ba3\u5e03\u4e0e\u6709\u8272\u91d1\u5c5e\u884c\u4e1a\u540c\u884c\u8fbe\u6210\u6218\u7565\u5408\u4f5c\uff0c\u5171\u540c\u63a8\u8fdb\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6570\u5b57\u5316\u5f00\u53d1\u548c\u5e94\u7528\u3002\u8be5\u8ba1\u5212\u9884\u8ba1\u5c06\u83b7\u5f97\u4e2d\u56fd\u6709\u8272\u91d1\u5c5e\u5de5\u4e1a\u534f\u4f1a\u3001\u76f8\u5173\u653f\u5e9c\u90e8\u95e8\u53ca\u5176\u4ed6\u5408\u4f5c\u4f19\u4f34\u7684\u652f\u6301\u3002\u4f5c\u4e3a\u6709\u8272\u91d1\u5c5e\u9886\u57df\u7684\u9f99\u5934\u4f01\u4e1a\uff0c\u4e2d\u56fd\u94dd\u4e1a\u5df2\u5efa\u7acb\u81ea\u4e3b\u53ef\u63a7\u7684\u4eba\u5de5\u667a\u80fd\u8ba1\u7b97\u4e2d\u5fc3\uff0c\u5e76\u5f00\u53d1\u4e86\u4e1a\u5185\u9996\u4e2a\u901a\u7528\u578b\u5927\u8bed\u8a00\u6a21\u578b\u201c\u6606\u5b89\u201d\u3002\u6606\u5b89\u5229\u7528\u4eba\u5de5\u667a\u80fd\u6280\u672f\uff0c\u4f18\u5316\u884c\u4e1a\u7684\u8fd0\u8425\u5de5\u4f5c\u6d41\u7a0b\uff0c\u8986\u76d6\u52d8\u63a2\u3001\u5f00\u91c7\u3001\u52a0\u5de5\u548c\u56de\u6536\u7b49\u591a\u4e2a\u73af\u8282\u3002\u6b64\u5916\uff0c\u6606\u5b89\u8fd8\u5f3a\u5316\u4e86\u77ff\u4ea7\u8d44\u6e90\u3001\u751f\u4ea7\u6d41\u7a0b\u3001\u7f51\u7edc\u3001\u6570\u636e\u548c\u7b97\u6cd5\u7b49\u5173\u952e\u9886\u57df\u7684\u5b89\u5168\u4fdd\u969c\u3002\u5c55\u671b\u672a\u6765\uff0c\u4e2d\u56fd\u94dd\u4e1a\u8ba1\u5212\u8fdb\u4e00\u6b65\u5de9\u56fa\u5927\u578b\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u7684\u6280\u672f\u57fa\u7840\uff0c\u52a0\u5feb\u8ba4\u77e5\u667a\u80fd\u64cd\u4f5c\u7cfb\u7edf\u548c\u5173\u952e\u5de5\u4e1a\u4eba\u5de5\u667a\u80fd\u6280\u672f\u7684\u7a81\u7834\uff0c\u5e76\u63a8\u52a8\u8d44\u672c\u3001\u4eba\u624d\u3001\u6280\u672f\u3001\u6570\u636e\u548c\u7b97\u529b\u7684\u6df1\u5ea6\u878d\u5408\u3002\u8fd9\u79cd\u534f\u540c\u6548\u5e94\u5c06\u4fc3\u8fdb\u534f\u540c\u521b\u65b0\uff0c\u63a8\u52a8\u884c\u4e1a\u5411\u9ad8\u8d28\u91cf\u53d1\u5c55\u8fc8\u8fdb\uff0c\u5e76\u52a0\u901f\u57f9\u80b2\u65b0\u7684\u9ad8\u4ef7\u503c\u751f\u4ea7\u529b\u3002 24\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u76ca\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f16.04%\u81f3631\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a543\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u589e\u957f3.34%\u81f320\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a19.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022024\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a0.116\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e3a0.111\u5143\u3002 \u5e02\u573a\u5171\u8bc6\u3002 (Source: Bloomberg) (Source: PBoC, World Gold Council) \u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u5c06\u652f\u6491\u91d1\u4ef7\u3002 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Lee","author_link":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/"},"uagb_comment_info":0,"uagb_excerpt":"\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 \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u00a0 Seatrium Ltd(STM SP)\uff1a\u8de8\u5883\u5408\u4f5c\u7684\u6f5c\u5728\u589e\u957f (Source: Bloomberg) ISOTeam Ltd(ISO SP)\uff1a\u6269\u5927\u65e0\u4eba\u673a\u80fd\u529b (Source: Bloomberg) \u4e2d\u56fd\u94dd\u4e1a(2600 HK)\uff1a\u94dd\u4ef7\u53cd\u5f39 \u94dd\u73b0\u8d27\u4ef7\u683c (Source: Bloomberg) (Source: Bloomberg) \u7d2b\u91d1\u77ff\u4e1a\u96c6\u56e2(2899 HK)\uff1a\u8f6c\u5411\u9502 \u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\u9ec4\u91d1\u50a8\u5907 (Source: PBoC, World Gold Council) \u9ec4\u91d1\u4ef7\u683c\u53ca\u7f8e\u5143\u6307\u6570\u8d70\u52bf (Source: Bloomberg) (Source: Bloomberg) \u535a\u901a\u516c\u53f8(AVGO 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