{"id":63494,"date":"2025-03-13T18:27:12","date_gmt":"2025-03-13T10:27:12","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=63494"},"modified":"2025-03-14T10:53:31","modified_gmt":"2025-03-14T02:53:31","slug":"kgi-daily-trading-ideas-14-mar-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/","title":{"rendered":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL 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-63494-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"941\" height=\"422\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-33.png\" alt=\"\" class=\"wp-image-63587\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-33.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-33-300x135.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-33-768x344.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=\"240\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-34.png\" alt=\"\" class=\"wp-image-63588\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-34.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-34-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-34-768x196.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\/03\/image-35.png\" alt=\"\" class=\"wp-image-63589\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-35.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-35-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-35-768x237.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\/03\/word-image-63494-4.png\" alt=\"\" class=\"wp-image-63529\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-4-300x64.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-63494-_qqv3rtx8nazp\"><\/a><a id=\"post-63494-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1492\" height=\"697\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-computer-ai-generated-content-m-12.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-63530\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-computer-ai-generated-content-m-12.png 1492w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-computer-ai-generated-content-m-12-300x140.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-computer-ai-generated-content-m-12-1024x478.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-computer-ai-generated-content-m-12-768x359.png 768w\" sizes=\"(max-width: 1492px) 100vw, 1492px\" \/><\/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\/03\/word-image-63494-6.png\" alt=\"\" class=\"wp-image-63531\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-6-300x64.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\"><a id=\"post-63494-_7c2gwybbbr90\"><\/a><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-63494-_9i0c554gtu0u\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-7.png\" class=\"wp-image-63532\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-63494-_34eo5yf8y7pj\"><\/a><strong><strong><strong>\u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30<\/strong><br>  <\/li>\n\n\n\n<li>\u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165<\/strong>\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002<br>  <\/li>\n\n\n\n<li><strong>\u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15<\/strong>\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002<br>  <\/li>\n\n\n\n<li><strong>\u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b<\/strong>\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002<br>  <\/li>\n\n\n\n<li><strong>24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e<\/strong>\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002<br>  <\/li>\n<\/ul>\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\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-14.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-63533\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-14.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-14-300x115.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-14-1024x393.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-14-768x295.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-14-1536x589.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\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" alt=\"A long line of a white background\n\nDescription automatically generated with medium confidence\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-white-background-description-aut-11.png\" class=\"wp-image-63534\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-white-background-description-aut-11.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-white-background-description-aut-11-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure> <\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-63494-_34eo5yf8y7pj\"><\/a><strong><strong>\u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20<\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46<\/strong><br>  <\/li>\n\n\n\n<li>\u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002<\/strong>\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002<\/strong>\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684 Lowe\u2019s \u548c Sam\u2019s Club \u4ee5\u53ca 2025 \u5e74 1 \u6708\u7684\u5965\u5c14\u5df4\u5c3c\u8d85\u5e02\uff0c\u5265\u79bb\u4ef7\u683c\u5747\u9ad8\u4e8e\u4f30\u503c 4% \u4ee5\u4e0a\uff0c\u663e\u793a\u51fa\u5f3a\u5927\u7684\u8d44\u672c\u56de\u6536\u80fd\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5728\u65b0\u589e\u4f9b\u5e94\u6709\u9650\u7684\u60c5\u51b5\u4e0b\uff0c\u4ee5\u6742\u8d27\u5e97\u4e3a\u4e3b\u7684\u5546\u4e1a\u8857\u9700\u6c42\u5f3a\u52b2\u3002<\/strong>\u6839\u636e Green Street \u7684\u6570\u636e\uff0c\u4ee5\u6742\u8d27\u5e97\u4e3a\u4e3b\u7684\u96f6\u552e\u7269\u4e1a\u4ecd\u7136\u5177\u6709\u5f88\u5f3a\u7684\u97e7\u6027\uff0c\u4ece 2019 \u5e74\u5230 2024 \u5e74\uff0c\u6742\u8d27\u5e97\u7684\u5ba2\u6d41\u91cf\u589e\u52a0\u4e86 12%\u3002\u5496\u5561\u5e97\u3001\u6c99\u9f99\u548c\u533b\u7597\u4e2d\u5fc3\u7b49\u670d\u52a1\u578b\u79df\u6237\u8fdb\u4e00\u6b65\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\uff0c\u589e\u5f3a\u4e86\u8be5\u884c\u4e1a\u7684\u957f\u671f\u7a33\u5b9a\u6027\u3002\u6df7\u5408\u529e\u516c\u6a21\u5f0f\u4e5f\u6539\u53d8\u4e86\u6d88\u8d39\u8005\u7684\u884c\u4e3a\uff0c\u589e\u52a0\u4e86\u5bf9\u672c\u5730\u5316\u8d2d\u7269\u4f53\u9a8c\u7684\u9700\u6c42\u30022024 \u5e74\u5546\u4e1a\u8857\u5e02\u573a\u79df\u91d1\u589e\u957f\u4ecd\u9ad8\u4e8e\u5386\u53f2\u5e73\u5747\u6c34\u5e73\uff0c\u9884\u8ba1 2025 \u5e74\u81f3 2029 \u5e74\u5e74\u589e\u957f\u7387\u4e3a 3%\u3002\u6295\u8d44\u6d3b\u52a8\u7a81\u663e\u4e86\u5bf9\u8be5\u884c\u4e1a\u7684\u4fe1\u5fc3\uff0c\u9ed1\u77f3\u96c6\u56e2\u8fdb\u884c\u4e86\u81ea 2011 \u5e74\u4ee5\u6765\u6700\u5927\u7684\u96f6\u552e\u6295\u8d44\uff0c\u4ee5 40 \u4ebf\u7f8e\u5143\u6536\u8d2d\u4e86 90 \u4e2a\u8d2d\u7269\u4e2d\u5fc3\uff0c\u800c\u4e16\u90a6\u9b4f\u7406\u4ed5\u9884\u8ba1 2025 \u5e74\u9732\u5929\u96f6\u552e\u4ea4\u6613\u989d\u5c06\u8fbe\u5230 100 \u4ebf\u7f8e\u5143\u3002\u5c3d\u7ba1\u9700\u6c42\u5f3a\u52b2\uff0c\u4f46\u7531\u4e8e\u6210\u672c\u9ad8\u6602\uff0c\u65b0\u5efa\u5546\u4e1a\u8857\u7684\u5efa\u8bbe\u4ecd\u7136\u53d7\u5230\u9650\u5236\uff0c\u9700\u8981\u5c06\u79df\u91d1\u63d0\u9ad8 65% \u624d\u80fd\u8bc1\u660e\u5f00\u53d1\u7684\u5408\u7406\u6027\u3002\u8fd9\u4e3a\u5305\u62ec UHU REIT \u5728\u5185\u7684\u73b0\u6709\u4e1a\u4e3b\u63d0\u4f9b\u4e86\u5f3a\u5927\u7684\u5b9a\u4ef7\u6743\uff0c\u53ef\u4ee5\u534f\u5546\u79df\u91d1\u4e0a\u6da8\uff0c\u786e\u4fdd\u957f\u671f\u6536\u5165\u589e\u957f\u3002\u51ed\u501f 97.5% \u7684\u627f\u8bfa\u5165\u4f4f\u7387\u548c 8.1 \u5e74\u7684\u52a0\u6743\u5e73\u5747\u79df\u7ea6\u5230\u671f\u5e74\u9650 (WALE)\uff0cUHU REIT \u6709\u80fd\u529b\u5229\u7528\u8fd9\u4e9b\u5e02\u573a\u52a8\u6001\u3002<br>  <\/li>\n\n\n\n<li><strong>2024 \u5e74\u4e0b\u534a\u5e74\u8d22\u62a5\u56de\u987e\u3002<\/strong>2024 \u5e74\u4e0b\u534a\u5e74\uff0cFood Empire \u603b\u6536\u5165\u540c\u6bd4\u589e\u957f 10.4%\uff0c\u4ece 2023 \u5e74\u4e0b\u534a\u5e74\u7684 2.275 \u4ebf\u7f8e\u5143 \u589e\u81f3 2.511 \u4ebf\u7f8e\u5143\uff0c\u4e3b\u8981\u53d7\u5230 \u4e1c\u5357\u4e9a\u3001\u5357\u4e9a\u3001\u4e4c\u514b\u5170\u3001\u54c8\u8428\u514b\u65af\u5766\u53ca\u72ec\u7acb\u56fd\u5bb6\u8054\u5408\u4f53\uff08CIS\uff09 \u5e02\u573a\u7684\u5f3a\u52b2\u589e\u957f\u5e26\u52a8\u3002\u7136\u800c\uff0c\u516c\u53f8 \u51c0\u5229\u6da6\u540c\u6bd4\u4e0b\u964d 3.2%\uff0c\u4ece 2023 \u5e74\u540c\u671f\u7684 2,980 \u4e07\u7f8e\u5143 \u964d\u81f3 2,890 \u4e07\u7f8e\u5143\u3002\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e3a 0.0549 \u7f8e\u5143\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u7684 0.0567 \u7f8e\u5143 \u4e0b\u964d\u3002\u516c\u53f8\u8463\u4e8b\u4f1a\u63d0\u8bae\u6d3e\u53d1\u6bcf\u80a1 0.08 \u65b0\u5143 \u7684\u80a1\u606f\uff0c\u5176\u4e2d\u5305\u62ec 0.06 \u65b0\u5143 \u671f\u672b\u80a1\u606f\u548c 0.02 \u65b0\u5143 \u7279\u522b\u80a1\u606f\u8425\u6536\u540c\u6bd4\u589e\u957f 0.4% \u81f3 3640 \u4e07\u7f8e\u5143\uff0c\u800c\u51c0\u7269\u4e1a\u6536\u5165\u4e0b\u964d 1.6% \u81f3 2440 \u4e07\u7f8e\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u8d44\u4ea7\u5265\u79bb\u548c\u8f83\u9ad8\u7684\u7269\u4e1a\u8d39\u7528\u3002\u6bcf\u5355\u4f4d\u6d3e\u606f (DPU) \u4e0b\u964d 4.2% \u81f3 2.05 \u7f8e\u5206\uff0c\u53cd\u6620\u51fa\u8f83\u9ad8\u7684\u878d\u8d44\u6210\u672c\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.60 \u65b0\u5143\u3002<a href=\"https:\/\/www.kgieworld.sg\/research\/company-update-united-hampshire-us-reit-uhu-sp-odbu-si\/\">\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587<\/a>\u3002<\/strong><br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6\u3002<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-63535\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-16.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-16.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-16-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"485\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-15.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-63536\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-15.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-15-300x142.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-screen-ai-generated-content-may-be-i-15-768x364.jpeg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-12.png\" class=\"wp-image-63537\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-12.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-12-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\"><a id=\"post-63494-_f3bvj0c8rd86\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-13.png\" class=\"wp-image-63538\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-13.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-13-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-63494-_34eo5yf8y7pj\"><\/a><strong>\u6c5f\u897f\u94dc\u4e1a(358 HK)\uff1a\u6f5c\u5728\u5173\u7a0e\u63a8\u52a8\u94dc\u4ef7\u4e0a\u6da8<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a13.2\uff0c\u76ee\u6807\u4ef7\uff1a15.0\uff0c\u6b62\u635f\u4ef7\uff1a12.3<\/strong><br>  <\/li>\n\n\n\n<li>\u6c5f\u897f\u94dc\u4e1a\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u94dc\u548c\u9ec4\u91d1\u7684\u91c7\u9009\u3001\u51b6\u70bc\u4e0e\u52a0\u5de5\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u901a\u8fc7\u4e24\u4e2a\u5206\u90e8\u5f00\u5c55\u4e1a\u52a1\u3002\u94dc\u76f8\u5173\u4ea7\u4e1a\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u94dc\u53ca\u94dc\u76f8\u5173\u4ea7\u54c1\u7684\u751f\u4ea7\u548c\u9500\u552e\u3002\u91d1\u76f8\u5173\u4ea7\u4e1a\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u91d1\u53ca\u91d1\u76f8\u5173\u4ea7\u54c1\u7684\u751f\u4ea7\u548c\u9500\u552e\u3002\u8be5\u516c\u53f8\u7684\u4ea7\u54c1\u4e3b\u8981\u5305\u62ec\u9634\u6781\u94dc\u3001\u9ec4\u91d1\u3001\u767d\u94f6\u3001 \u786b\u9178\u3001\u94dc\u6746\u3001\u94dc\u7ba1\u3001\u94dc\u7b94\u3001\u7852\u3001\u78b2\u3001\u94fc\u548c\u94cb\u3002\u8be5\u516c\u53f8\u7684\u4ea7\u54c1\u4e3b\u8981\u5e94\u7528\u4e8e\u7535\u6c14\u3001\u7535\u5b50\u3001\u8f7b\u5de5\u3001\u673a\u68b0\u5236\u9020\u3001\u5efa\u7b51\u3001\u4ea4\u901a\u3001\u519b\u5de5\u5de5\u4e1a\u7b49\u884c\u4e1a\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5173\u7a0e\u80cc\u666f\u4e0b\u94dc\u4ef7\u4e0a\u6da8\u3002 <\/strong>\u8fd1\u671f\uff0c\u94dc\u671f\u8d27\u4ef7\u683c\u5728\u6bcf\u78c54.8\u7f8e\u5143\u5de6\u53f3\u533a\u95f4\u6ce2\u52a8\uff0c\u63a5\u8fd1\u53bb\u5e745\u6708\u4ee5\u6765\u7684\u6700\u9ad8\u6c34\u5e73\u3002\u7f8e\u56fd\u5ba3\u5e03\u53ef\u80fd\u5bf9\u94dc\u8fdb\u53e3\u5f81\u653625%\u7684\u5173\u7a0e\uff0c\u5bfc\u81f4\u7ebd\u7ea6\u5546\u54c1\u4ea4\u6613\u6240\uff08Comex\uff09\u94dc\u4ef7\u5927\u5e45\u4e0a\u6da8\uff0c\u5e02\u573a\u6ce2\u52a8\u6027\u589e\u52a0\u3002\u5168\u7403\u94dc\u5e93\u5b58\u6c34\u5e73\u6b63\u5728\u4e0a\u5347\uff0c\u7531\u4e8e\u5957\u5229\u673a\u4f1a\u548c\u5bf9\u5173\u7a0e\u7684\u9884\u671f\uff0c\u7ebd\u7ea6\u5546\u54c1\u4ea4\u6613\u6240\u5e93\u5b58\u663e\u8457\u589e\u52a0\uff0c\u800c\u4f26\u6566\u91d1\u5c5e\u4ea4\u6613\u6240\uff08LME\uff09\u548c\u4e0a\u6d77\u671f\u8d27\u4ea4\u6613\u6240\uff08SHFE\uff09\u5e93\u5b58\u5219\u5448\u73b0\u4e0d\u540c\u8d8b\u52bf\u3002\u5c3d\u7ba1\u53ef\u518d\u751f\u80fd\u6e90\u548c\u6280\u672f\u7b49\u884c\u4e1a\u7684\u9700\u6c42\u6301\u7eed\u5b58\u5728\uff0c\u4f46\u7f8e\u56fd\u7ecf\u6d4e\u8870\u9000\u62c5\u5fe7\u548c\u4e2d\u56fd\u901a\u8d27\u7d27\u7f29\u7b49\u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\uff0c\u589e\u52a0\u4e86\u94dc\u5e02\u573a\u7684\u98ce\u9669\u3002\u5168\u7403\u94dc\u4ef7\u7684\u4e0a\u6da8\u5fc5\u7136\u4f1a\u7ed9\u6c5f\u897f\u94dc\u4e1a\u5e26\u6765\u79ef\u6781\u7684\u6548\u76ca\u3002<br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u94dc\u4ef7\uff081\u5e74\uff09<\/strong>\n  <img loading=\"lazy\" decoding=\"async\" width=\"1290\" height=\"595\" alt=\"A graph with lines and numbers\n\nAI-generated content may be incorrect.\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-lines-and-numbers-ai-generated-conte-6.jpeg\" class=\"wp-image-63539\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-lines-and-numbers-ai-generated-conte-6.jpeg 1290w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-lines-and-numbers-ai-generated-conte-6-300x138.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-lines-and-numbers-ai-generated-conte-6-1024x472.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-lines-and-numbers-ai-generated-conte-6-768x354.jpeg 768w\" sizes=\"(max-width: 1290px) 100vw, 1290px\" \/>\n<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e2d\u56fd\u94dc\u51fa\u53e3\u9884\u671f\u589e\u52a0\u3002 <\/strong>\u4e2d\u56fd\u6700\u8fd1\u53d1\u653e\u4e86\u66f4\u591a\u8bb8\u53ef\u8bc1\uff0c\u5141\u8bb8\u94dc\u51b6\u70bc\u5382\u514d\u7a0e\u51fa\u53e3\u91d1\u5c5e\uff0c\u8fd9\u6709\u52a9\u4e8e\u5f53\u5730\u751f\u4ea7\u5546\uff0c\u5e76\u4e3a\u5728\u5168\u7403\u5e02\u573a\u52a8\u8361\u65f6\u671f\u6269\u5927\u6d77\u5916\u9500\u552e\u94fa\u5e73\u4e86\u9053\u8def\u3002\u8bb8\u53ef\u8bc1\u7684\u53d1\u653e\u610f\u5473\u7740\u5341\u51e0\u5bb6\u4e2d\u56fd\u4e3b\u8981\u51b6\u70bc\u5382\u73b0\u5df2\u83b7\u5f97\u6765\u6599\u52a0\u5de5\u8d38\u6613\u7684\u6279\u51c6\uff0c\u5373\u51fa\u53e3\u7531\u8fdb\u53e3\u77ff\u77f3\u7cbe\u70bc\u800c\u6210\u7684\u7cbe\u70bc\u94dc\uff0c\u5e76\u4eab\u53d7\u514d\u7a0e\u5f85\u9047\u3002\u6b64\u5916\uff0c\u968f\u7740\u7279\u6717\u666e\u5ba3\u5e03\u53ef\u80fd\u5bf9\u7f8e\u56fd\u94dc\u8fdb\u53e3\u5f81\u653625%\u7684\u5173\u7a0e\uff0c\u5404\u516c\u53f8\u90fd\u5728\u5bfb\u6c42\u5728\u5173\u7a0e\u751f\u6548\u524d\u8fdb\u53e3\u66f4\u591a\u94dc\u3002\u8fd9\u5fc5\u7136\u4f1a\u5728\u77ed\u671f\u5185\u589e\u52a0\u94dc\u7684\u9700\u6c42\u3002<br>  <\/li>\n\n\n\n<li><strong>\u589e\u52a0\u5728SolGold\u7684\u80a1\u4efd\u5e76\u53ef\u80fd\u83b7\u5f97\u6218\u7565\u8d44\u4ea7\u3002 <\/strong>\u6c5f\u897f\u94dc\u4e1a\u6700\u8fd1\u6536\u8d2d\u4e86SolGold\u7ea61.57\u4ebf\u80a1\u80a1\u4efd\u3002\u6295\u8d44\u540e\uff0c\u6c5f\u897f\u94dc\u4e1a\u901a\u8fc7\u5176\u5b50\u516c\u53f8\u6c5f\u897f\u94dc\u4e1a\uff08\u9999\u6e2f\uff09\u6295\u8d44\u6709\u9650\u516c\u53f8\uff0c\u5c06\u5176\u5728SolGold\u7684\u6301\u80a1\u6bd4\u4f8b\u4ece6.95%\u589e\u52a0\u523012.19%\u3002\u901a\u8fc7\u589e\u52a0\u5728SolGold\u7684\u80a1\u4efd\uff0c\u6c5f\u897f\u94dc\u4e1a\u83b7\u5f97\u4e86\u66f4\u5927\u7684\u6240\u6709\u6743\u4efd\u989d\uff0c\u4ece\u800c\u5bf9SolGold\u7684\u51b3\u7b56\u4ea7\u751f\u4e86\u66f4\u5927\u7684\u5f71\u54cd\u529b\u3002\u8fd9\u5bf9Cascabel\u9879\u76ee\uff08\u4e00\u9879\u4e3b\u8981\u7684\u94dc\u91d1\u8d44\u4ea7\uff09\u5c24\u5176\u91cd\u8981\u3002\u8fd9\u79cd\u6218\u7565\u6027\u7684\u6240\u6709\u6743\u589e\u52a0\u7b26\u5408\u6c5f\u897f\u94dc\u4e1a\u83b7\u53d6\u91cd\u8981\u94dc\u8d44\u6e90\u7684\u6218\u7565\u76ee\u6807\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u5e74\u7b2c\u4e09\u5b63\u4e1a\u7ee9\u56de\u987e\u3002 <\/strong>2024\u5e74\u7b2c\u4e09\u5b63\uff0c\u8425\u6536\u540c\u6bd4\u4e0b\u964d6.63%\uff0c\u81f3\u4eba\u6c11\u5e011233\u4ebf\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u4e3a\u4eba\u6c11\u5e011320\u4ebf\u5143\u30022024\u5e74\u7b2c\u4e09\u5b63\uff0c\u51c0\u5229\u6da6\u4e0b\u964d13.64%\uff0c\u81f3\u4eba\u6c11\u5e0113.7\u4ebf\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u4e3a\u4eba\u6c11\u5e0115.8\u4ebf\u5143\u30022024\u5e74\u7b2c\u4e09\u5b63\uff0c\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u964d\u81f3\u4eba\u6c11\u5e010.40\u5143\uff0c\u800c2023\u5e74\u7b2c\u4e09\u5b63\u4e3a\u4eba\u6c11\u5e010.46\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-63540\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-15.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-15-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1265\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-16.jpeg\" alt=\"\" class=\"wp-image-63541\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-16.jpeg 1265w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-16-300x136.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-16-1024x465.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-16-768x349.jpeg 768w\" sizes=\"(max-width: 1265px) 100vw, 1265px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-17.png\" class=\"wp-image-63542\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-17.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-17-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u963f\u91cc\u5df4\u5df4 (9988 HK)\uff1a\u9a71\u52a8\u4e2d\u56fd\u6570\u5b57\u672a\u6765<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a138\uff0c\u76ee\u6807\u4ef7\uff1a160\uff0c\u6b62\u635f\u4ef7\uff1a127<\/strong><br>  <\/li>\n\n\n\n<li>\u963f\u91cc\u5df4\u5df4\u96c6\u56e2\u63a7\u80a1\u6709\u9650\u516c\u53f8\u63d0\u4f9b\u6280\u672f\u57fa\u7840\u8bbe\u65bd\u53ca\u8425\u9500\u5e73\u53f0\u3002\u8be5\u516c\u53f8\u8fd0\u8425\u4e03\u4e2a\u4e1a\u52a1\u5206\u90e8\u3002\u4e2d\u56fd\u5546\u4e1a\u5206\u90e8\u5305\u62ec\u4e2d\u56fd\u96f6\u552e\u5546\u4e1a\u4e1a\u52a1\u5982\u6dd8\u5b9d\u3001\u5929\u732b\u3001\u76d2\u9a6c\u7b49\u4ee5\u53ca\u6279\u53d1\u4e1a\u52a1\u3002\u56fd\u9645\u5546\u4e1a\u5206\u90e8\u5305\u62ec\u56fd\u9645\u96f6\u552e\u53ca\u6279\u53d1\u5546\u4e1a\u4e1a\u52a1\uff0c\u5982Lazada\u3001\u901f\u5356\u901a\u7b49\u3002\u672c\u5730\u751f\u6d3b\u670d\u52a1\u5206\u90e8\u5305\u62ec\u57fa\u4e8e\u4f4d\u7f6e\u4e1a\u52a1\uff0c\u5982\u997f\u4e86\u4e48\u3001\u9ad8\u5fb7\u3001\u98de\u732a\u7b49\u3002\u83dc\u9e1f\u5206\u90e8\u5305\u62ec\u56fd\u5185\u53ca\u56fd\u9645\u4e00\u7ad9\u5f0f\u7269\u6d41\u670d\u52a1\u53ca\u4f9b\u5e94\u94fe\u7ba1\u7406\u89e3\u51b3\u65b9\u6848\u3002\u4e91\u4e1a\u52a1\u5206\u90e8\u5305\u62ec\u5411\u56fd\u5185\u5916\u4f01\u4e1a\u63d0\u4f9b\u516c\u6709\u4e91\u670d\u52a1\u548c\u6df7\u5408\u4e91\u670d\u52a1\uff0c\u5982\u963f\u91cc\u4e91\u53ca\u9489\u9489\u3002\u6570\u5b57\u5a92\u4f53\u53ca\u5a31\u4e50\u5206\u90e8\u5305\u62ec\u4f18\u9177\u3001\u5938\u514b\u548c\u963f\u91cc\u5f71\u4e1a\uff0c\u4ee5\u53ca\u5176\u4ed6\u5185\u5bb9\u548c\u5206\u9500\u5e73\u53f0\u4ee5\u53ca\u7ebf\u4e0a\u6e38\u620f\u4e1a\u52a1\u3002\u521b\u65b0\u4e1a\u52a1\u53ca\u5176\u4ed6\u5206\u90e8\u5305\u62ec\u8fbe\u6469\u9662\u3001\u5929\u732b\u7cbe\u7075\u53ca\u5176\u4ed6\u4e1a\u52a1\u3002 <br>  <\/li>\n\n\n\n<li><strong>\u5f3a\u5927\u7684\u653f\u5e9c\u652f\u6301\u3002<\/strong>\u5728\u6700\u8fd1\u7684\u5168\u56fd\u4eba\u6c11\u4ee3\u8868\u5927\u4f1a\u4e0a\uff0c\u4e2d\u56fd\u5ba3\u5e03\u5c06\u79d1\u6280\u652f\u51fa\u589e\u52a0 10%\uff0c\u62e8\u6b3e 3980 \u4ebf\u5143\u4eba\u6c11\u5e01\uff08550 \u4ebf\u7f8e\u5143\uff09\u3002\u653f\u5e9c\u65e8\u5728\u4fc3\u8fdb\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u5e94\u7528\u3001\u91cf\u5b50\u8ba1\u7b97\u548c 6G \u6280\u672f\uff0c\u540c\u65f6\u53d1\u5e03\u4eba\u5de5\u667a\u80fd\u6559\u80b2\u767d\u76ae\u4e66\u4ee5\u6269\u5927\u5176\u6280\u672f\u4eba\u624d\u5e93\u3002\u653f\u5e9c\u65e8\u5728\u901a\u8fc7\u57f9\u80b2\u56fd\u5bb6\u5b9e\u9a8c\u5ba4\u3001\u652f\u6301\u9752\u5e74\u79d1\u5b66\u5bb6\u548c\u5b8c\u5584\u6570\u636e\u7cfb\u7edf\uff0c\u521b\u9020\u66f4\u5229\u4e8e\u521b\u65b0\u7684\u73af\u5883\u3002\u4eba\u5de5\u667a\u80fd\u53d1\u5c55\u662f\u91cd\u70b9\uff0c\u52a0\u5927\u5bf9\u5927\u89c4\u6a21\u6a21\u578b\u548c\u667a\u80fd\u5236\u9020\u7684\u652f\u6301\u3002\u9884\u8ba1\u8fd9\u79cd\u652f\u6301\u6027\u73af\u5883\u5c06\u52a0\u901f\u963f\u91cc\u5df4\u5df4\u7684\u4eba\u5de5\u667a\u80fd\u521b\u65b0\uff0c\u589e\u5f3a\u5176\u4e91\u4ea7\u54c1\uff0c\u5e76\u5de9\u56fa\u5176\u5728\u4e2d\u56fd\u6570\u5b57\u5316\u8f6c\u578b\u4e2d\u7684\u4f5c\u7528\u3002<br>  <\/li>\n\n\n\n<li><strong>\u53d1\u5e03\u5176\u4eba\u5de5\u667a\u80fd\u6a21\u578b\u3002<\/strong>\u963f\u91cc\u5df4\u5df4\u53d1\u5e03\u4e86 QwQ-32B \u4eba\u5de5\u667a\u80fd\u63a8\u7406\u6a21\u578b\uff0c\u58f0\u79f0\u5c3d\u7ba1\u53c2\u6570\u5c11\u5f97\u591a\uff0c\u4f46\u5176\u6027\u80fd\u4e0e DeepSeek \u7684 R1 \u76f8\u5f53\u3002\u8be5\u6a21\u578b\u53ef\u901a\u8fc7 Qwen Chat \u8bbf\u95ee\uff0c\u589e\u5f3a\u4e86\u963f\u91cc\u5df4\u5df4\u7684\u804a\u5929\u673a\u5668\u4eba\u670d\u52a1\uff0c\u5e76\u5de9\u56fa\u4e86\u5176\u4eba\u5de5\u667a\u80fd\u9886\u5bfc\u5730\u4f4d\u3002\u968f\u7740\u4e2d\u56fd\u5728\u5404\u884c\u4e1a\u63a8\u5e7f\u4eba\u5de5\u667a\u80fd\u5e94\u7528\uff0c\u963f\u91cc\u5df4\u5df4\u6709\u671b\u4ece\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u4e2d\u53d7\u76ca\uff0c\u4ece\u800c\u63d0\u632f\u5176\u4e91\u4e1a\u52a1\u548c\u6295\u8d44\u8005\u4fe1\u5fc3\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4eba\u5de5\u667a\u80fd\u548c\u4e91\u6295\u8d44\u8def\u7ebf\u56fe\u3002<\/strong>\u963f\u91cc\u5df4\u5df4\u672a\u6765\u4e09\u5e74\u5728\u4e91\u8ba1\u7b97\u548c\u4eba\u5de5\u667a\u80fd\u57fa\u7840\u8bbe\u65bd\u65b9\u9762\u7684 3800 \u4ebf\u5143\u4eba\u6c11\u5e01\uff08700 \u4ebf\u7f8e\u5143\uff09\u6295\u8d44\u8d85\u8fc7\u4e86\u5176\u5728\u8be5\u9886\u57df\u5341\u5e74\u6765\u7684\u652f\u51fa\u3002\u622a\u81f3 24 \u5e74\u7b2c\u4e09\u5b63\u5ea6\uff0c\u963f\u91cc\u5df4\u5df4\u662f\u4e2d\u56fd\u6700\u5927\u7684\u4e91\u63d0\u4f9b\u5546\uff0c\u5e02\u573a\u4efd\u989d\u4e3a 36%\uff0c24 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4e91\u6536\u5165\u540c\u6bd4\u589e\u957f 13%\uff0c\u4e3b\u8981\u53d7\u516c\u5171\u4e91\u4ea7\u54c1\u4e24\u4f4d\u6570\u6536\u5165\u589e\u957f\u7684\u63a8\u52a8\u3002\u9884\u8ba1\u963f\u91cc\u5df4\u5df4\u7684\u6295\u8d44\u5c06\u589e\u5f3a\u5176\u4eba\u5de5\u667a\u80fd\u548c\u4e91\u80fd\u529b\uff0c\u5438\u5f15\u4f01\u4e1a\u5ba2\u6237\uff0c\u5e76\u63a8\u52a8\u957f\u671f\u589e\u957f\u3002<br>  <\/li>\n\n\n\n<li><strong>24 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>24 \u5e74\u7b2c\u56db\u5b63\u5ea6\u8425\u6536\u540c\u6bd4\u589e\u957f 8% \u81f3 2802 \u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c 23 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4e3a 2603 \u4ebf\u5143\u4eba\u6c11\u5e01\u300224 \u5e74\u7b2c\u56db\u5b63\u5ea6\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f 333% \u81f3 464 \u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c 23 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4e3a 107 \u4ebf\u5143\u4eba\u6c11\u5e01\u300224 \u5e74\u7b2c\u56db\u5b63\u5ea6\u644a\u8584\u540e\u6bcf\u80a1\u6536\u76ca\u589e\u81f3 2.55 \u5143\u4eba\u6c11\u5e01\uff0c\u800c 23 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4e3a 0.71 \u5143\u4eba\u6c11\u5e01\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-63543\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-17.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-17.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-17-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"485\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-white-background-ai-generated-conten-10.jpeg\" alt=\"A graph on a white background\n\nAI-generated content may be incorrect.\" class=\"wp-image-63544\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-white-background-ai-generated-conten-10.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-white-background-ai-generated-conten-10-300x142.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-on-a-white-background-ai-generated-conten-10-768x364.jpeg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-20.png\" alt=\"\" class=\"wp-image-63545\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-20.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-20-300x64.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-63494-_6xzuwbi3dcr\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"827\" height=\"105\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-21.png\" class=\"wp-image-63546\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-21.png 827w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-21-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-21-768x98.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Allstate Corp (ALL US)\uff1a\u95dc\u7a05\u5f71\u97ff\u4e0b\u7684\u7a4d\u6975\u7ba1\u7406<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a192\u76ee\u6807\u4ef7\uff1a210\uff0c\u6b62\u635f\u4ef7\uff1a183<\/strong><br>  <\/li>\n\n\n\n<li>Allstate\u516c\u53f8\u63d0\u4f9b\u8ca1\u7522\u8cac\u4efb\u4fdd\u96aa\u89e3\u6c7a\u65b9\u6848\u3002\u516c\u53f8\u900f\u904e\u7368\u7acb\u53ca\u5c08\u696d\u7d93\u7d00\u5546\u92b7\u552e\u79c1\u4eba\u4e58\u7528\u8eca\u53ca\u623f\u5c4b\u4fdd\u96aa\uff0c\u4e26\u900f\u904e\u4ee3\u7406\u5546\u92b7\u552e\u4eba\u58fd\u4fdd\u96aa\u3001\u5e74\u91d1\u53ca\u5718\u9ad4\u9000\u4f11\u91d1\u7522\u54c1\u3002Allstate\u670d\u52d9\u65bc\u7f8e\u570b\u53ca\u52a0\u62ff\u5927\u7684\u5ba2\u6236\u3002<br>  <\/li>\n\n\n\n<li><strong>\u7f8e\u570b\u8870\u9000\u64d4\u6182\u52a0\u5287\uff0c\u9632\u79a6\u6027\u677f\u584a\u53d7\u76ca\u3002<\/strong>\u7d9c\u5408\u8fd1\u671f\u7f8e\u570b\u5b8f\u89c0\u6578\u64da\uff0c\u901a\u8139\u4f9d\u7136\u8f03\u9ad8\uff0c\u4f46\u540c\u6642\u52de\u52d5\u529b\u5e02\u5834\u958b\u59cb\u964d\u6eab\uff0c\u6d88\u8cbb\u8005\u652f\u51fa\u4ee5\u53ca\u4fe1\u5fc3\u4e0b\u964d\u3002\u7279\u6717\u666e\u7684\u95dc\u7a05\u653f\u7b56\u5f15\u767c\u5168\u7403\u8cbf\u6613\u6230\uff0c\u540c\u6642\u7f8e\u570b\u5c31\u4fc4\u70cf\u554f\u984c\u7acb\u5834\u906d\u76df\u53cb\u8cea\u7591\u3002\u5229\u7a7a\u56e0\u7d20\u96c6\u4e2d\u767c\u9175\uff0c\u5e02\u5834\u53ad\u60e1\u4e0d\u78ba\u5b9a\u6027\uff0c\u56e0\u6b64\u4e3b\u8981\u589e\u9577\u578b\u677f\u584a\u51fa\u73fe\u5927\u5e45\u56de\u8abf\uff0c\u8cc7\u91d1\u8f2a\u52d5\u81f3\u9632\u79a6\u6027\u8f03\u5f37\u677f\u584a\u3002<br>  <\/li>\n\n\n\n<li><strong>\u95dc\u7a05\u6709\u5229\u65bcAllstate\u4fdd\u8b77\u6c7d\u8eca\u4fdd\u96aa\u3002<\/strong>\u7531\u65bc\u8cbb\u7387\u4e0a\u8abf\uff0c\u5df2\u8cfa\u4fdd\u8cbb\u540c\u6bd4\u589e\u95779.1%\uff0c\u6c7d\u8eca\u7d9c\u5408\u6bd4\u7387\u572824\u5e74\u7b2c\u56db\u5b63\u5ea6\u6539\u5584\u81f393.5\uff0c\u53cd\u6620\u51fa\u66f4\u9ad8\u7684\u4fdd\u8cbb\u53ca\u66f4\u597d\u7684\u640d\u5931\u8868\u73fe\u3002\u7279\u6717\u666e\u5c0d\u92fc\u92c1\u5fb5\u6536\u7684\u95dc\u7a05\u53ef\u80fd\u6703\u900f\u904e\u63d0\u9ad8\u8eca\u8f1b\u50f9\u683c\uff0c\u9032\u4e00\u6b65\u6709\u5229\u65bcAllstate\uff0c\u5f9e\u800c\u63d0\u9ad8\u4fdd\u96aa\u50f9\u503c\u53ca\u4fdd\u8cbb\u3002\u6b64\u5916\uff0c\u96a8\u8457\u6d88\u8cbb\u8005\u6301\u6709\u820a\u8eca\u6642\u9593\u66f4\u9577\uff0c\u4fdd\u96aa\u516c\u53f8\u53ef\u80fd\u6703\u8abf\u6574\u8cbb\u7387\u4ee5\u8986\u84cb\u4e0d\u65b7\u4e0a\u5347\u7684\u7dad\u4fee\u6210\u672c\uff0c\u9032\u4e00\u6b65\u63d0\u9ad8Allstate\u5728\u6c7d\u8eca\u4fdd\u96aa\u9818\u57df\u7684\u76c8\u5229\u80fd\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>\u91cb\u653e\u50f9\u503c\u3002<\/strong>Allstate\u6301\u7e8c\u900f\u904e\u525d\u96e2\u975e\u6838\u5fc3\u696d\u52d9\u53ca\u8abf\u6574\u4fdd\u96aa\u5b9a\u50f9\u4f86\u512a\u5316\u5176\u6295\u8cc7\u7d44\u5408\u3002\u516c\u53f8\u516c\u4f481\u6708\u4efd\u7684\u9810\u8a08\u5de8\u707d\u640d\u5931\u70ba10.8\u5104\u7f8e\u5143\uff0c\u4e3b\u8981\u7531\u65bc\u52a0\u5dde\u91ce\u706b\u3002\u70ba\u7c21\u5316\u904b\u71df\uff0cAllstate\u5df2\u540c\u610f\u4ee512.5\u5104\u7f8e\u5143\u5c07\u5176\u5718\u9ad4\u5065\u5eb7\u696d\u52d9\u51fa\u552e\u7d66Nationwide\uff0c\u9019\u6a19\u8a8c\u8457\u5176\u9000\u51fa\u975e\u6838\u5fc3\u696d\u52d9\u8a08\u5283\u7684\u53c8\u4e00\u6b65\u3002\u9023\u540c\u65e9\u524d\u51fa\u552e\u7684\u50f1\u4e3b\u81ea\u9858\u798f\u5229\uff0c\u9019\u4e9b\u525d\u96e2\u7684\u7e3d\u9810\u671f\u6536\u76ca\u5c07\u9054\u523032.5\u5104\u7f8e\u5143\uff0c\u57282025\u5e74\u7522\u751f\u7d0410\u5104\u7f8e\u5143\u7684\u8ca1\u52d9\u8cec\u9762\u6536\u76ca\u3002\u540c\u6642\uff0cAllstate\u7a4d\u6975\u8abf\u6574\u4fdd\u96aa\u5b9a\u50f9\u4ee5\u964d\u4f4e\u98a8\u96aa\u655e\u53e3\u4e26\u63d0\u9ad8\u76c8\u5229\u80fd\u529b\u3002\u5728\u52a0\u5dde\uff0c\u623f\u5c4b\u4fdd\u96aa\u8cbb\u7387\u572811\u6708\u5e73\u5747\u4e0a\u6f3234%\uff0c\u516c\u5bd3\u4fdd\u96aa\u8a08\u5283\u57284\u6708\u518d\u4e0a\u6f3230%\u3002\u540c\u6a23\uff0c\u4f0a\u5229\u8afe\u4f0a\u5dde\u7684\u623f\u4e3b\u57282\u6708\u770b\u5230\u7d0414%\u7684\u4fdd\u8cbb\u4e0a\u6f32\u3002\u9019\u4e9b\u8cbb\u7387\u8abf\u6574\u5c07\u6709\u52a9\u65bcAllstate\u5728\u61c9\u5c0d\u4e0d\u65b7\u4e0a\u5347\u7684\u7406\u8ce0\u6210\u672c\u7684\u540c\u6642\uff0c\u978f\u56fa\u5176\u8ca1\u52d9\u72c0\u6cc1\u3002<br>  <\/li>\n\n\n\n<li><strong>24\u8ca1\u5e74\u7b2c\u56db\u5b63\u5ea6\u696d\u7e3e\u3002<\/strong>\u71df\u6536\u540c\u6bd4\u589e\u957711.3%\u81f3165.1\u5104\u7f8e\u5143\uff0c\u8d85\u51fa\u9810\u671f2.8\u5104\u7f8e\u5143\u3002Non-GAAP\u6bcf\u80a1\u6536\u76ca\u70ba7.67\u7f8e\u5143\uff0c\u8d85\u51fa\u9810\u671f1.39\u7f8e\u5143\u3002\u8463\u4e8b\u6703\u6279\u51c6\u4e86\u6bcf\u80a11.00\u7f8e\u5143\u7684\u5b63\u5ea6\u666e\u901a\u80a1\u80a1\u606f\uff0c\u8f03\u4e0a\u5b63\u5ea6\u589e\u52a00.08\u7f8e\u5143\u62168.7%\u3002\u6b64\u5916\uff0c\u4ed6\u5011\u9084\u6388\u6b0a\u4e8615\u5104\u7f8e\u5143\u7684\u6d41\u901a\u666e\u901a\u80a1\u56de\u8cfc\u8a08\u5283\uff0c\u8a72\u8a08\u5283\u5c07\u6301\u7e8c\u81f32026\u5e749\u670830\u65e5\u3002<br>  <\/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\/03\/word-image-63494-22.png\" alt=\"\" class=\"wp-image-63547\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-22.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-22-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1265\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-23.jpeg\" alt=\"\" class=\"wp-image-63548\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-23.jpeg 1265w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-23-300x136.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-23-1024x465.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-23-768x349.jpeg 768w\" sizes=\"(max-width: 1265px) 100vw, 1265px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"200\" alt=\"A long line of a flag\n\nDescription automatically generated with medium confidence\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-flag-description-automatically-g-11.png\" class=\"wp-image-63549\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-flag-description-automatically-g-11.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-flag-description-automatically-g-11-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-flag-description-automatically-g-11-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u83f2\u5229\u666e\u83ab\u91cc\u65af\u56fd\u9645\u516c\u53f8 (PM US)\uff1aZyn \u7684\u534f\u540c\u6548\u5e94<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a150\u76ee\u6807\u4ef7\uff1a170\uff0c\u6b62\u635f\u4ef7\uff1a140<\/strong><br>  <\/li>\n\n\n\n<li>\u83f2\u5229\u666e\u83ab\u91cc\u65af\u56fd\u9645\u516c\u53f8\u4f5c\u4e3a\u4e00\u5bb6\u70df\u8349\u516c\u53f8\u8fd0\u8425\uff0c\u81f4\u529b\u4e8e\u63d0\u4f9b\u65e0\u70df\u672a\u6765\u548c\u4e0d\u65ad\u53d1\u5c55\u7684\u957f\u671f\u4ea7\u54c1\u7ec4\u5408\uff0c\u5305\u62ec\u70df\u8349\u548c\u5c3c\u53e4\u4e01\u884c\u4e1a\u4ee5\u5916\u7684\u4ea7\u54c1\u3002\u8be5\u516c\u53f8\u7684\u4ea7\u54c1\u7ec4\u5408\u4e3b\u8981\u5305\u62ec\u5377\u70df\u548c\u65e0\u70df\u4ea7\u54c1\uff0c\u5305\u62ec\u4e3b\u8981\u4ee5 IQOS \u548c ZYN \u54c1\u724c\u4e3a\u4e3b\u7684\u52a0\u70ed\u4e0d\u71c3\u70e7\u3001\u84b8\u6c14\u548c\u53e3\u670d\u5c3c\u53e4\u4e01\u4ea7\u54c1\uff1b\u4ee5\u53ca\u6d88\u8d39\u914d\u4ef6\uff0c\u4f8b\u5982\u6253\u706b\u673a\u548c\u706b\u67f4\u3002\u5b83\u8fd8\u63d0\u4f9b\u5065\u5eb7\u548c\u4fdd\u5065\u4ea7\u54c1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6f5c\u5728\u7684\u4e1a\u52a1\u51fa\u552e\u3002<\/strong>\u83f2\u5229\u666e\u83ab\u91cc\u65af (PM) \u56fd\u9645\u516c\u53f8\u51b3\u5b9a\u63a2\u7d22\u51fa\u552e\u5176\u7f8e\u56fd\u96ea\u8304\u4e1a\u52a1\uff0c\u8fd9\u4e0e\u5176\u4ece\u4f20\u7edf\u70df\u8349\u4ea7\u54c1\u8f6c\u578b\u7684\u5927\u6218\u7565\u76f8\u7b26\u3002\u901a\u8fc7\u5265\u79bb\u8fd9\u9879\u8d44\u4ea7\uff0c\u8be5\u516c\u53f8\u53ef\u4ee5\u5c06\u5176\u8d44\u6e90\u91cd\u65b0\u5206\u914d\u5230\u5176\u4e0d\u65ad\u589e\u957f\u7684\u65e0\u70df\u4ea7\u54c1\u7ec4\u5408\u4e2d\uff0c\u4f8b\u5982 Zyn \u5c3c\u53e4\u4e01\u888b\u548c IQOS \u52a0\u70ed\u70df\u8349\u8bbe\u5907\u3002\u8fd9\u79cd\u8f6c\u53d8\u4e0d\u4ec5\u652f\u6301\u957f\u671f\u6536\u5165\u589e\u957f\uff0c\u8fd8\u589e\u5f3a\u4e86 PM \u5728\u4e0d\u65ad\u53d8\u5316\u7684\u5c3c\u53e4\u4e01\u5e02\u573a\u4e2d\u7684\u5b9a\u4f4d\u3002\u9884\u8ba1 10 \u4ebf\u7f8e\u5143\u7684\u51fa\u552e\u6536\u76ca\u53ef\u7528\u4e8e\u8fdb\u4e00\u6b65\u7684\u521b\u65b0\u548c\u6269\u5f20\uff0c\u52a0\u901f\u5176\u5230 2030 \u5e74\u5b9e\u73b0\u4e09\u5206\u4e4b\u4e8c\u7684\u9500\u552e\u989d\u6765\u81ea\u65e0\u70df\u4ea7\u54c1\u7684\u76ee\u6807\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5438\u70df\u7387\u4e0b\u964d\u3002<\/strong>\u7531\u4e8e\u5065\u5eb7\u95ee\u9898\u548c\u76d1\u7ba1\u538b\u529b\uff0c\u5168\u7403\u5438\u70df\u7387\u6301\u7eed\u4e0b\u964d\uff0cPM \u5411\u66ff\u4ee3\u5c3c\u53e4\u4e01\u4ea7\u54c1\u8f6c\u578b\u662f\u81f3\u5173\u91cd\u8981\u7684\u4e3e\u63aa\u3002\u4f20\u7edf\u5377\u70df\u9762\u4e34\u9700\u6c42\u4e0b\u964d\uff0c\u4f46\u8be5\u516c\u53f8\u5728 Zyn \u548c IQOS \u65b9\u9762\u7684\u5f3a\u52b2\u8868\u73b0\u8868\u660e\u4e86\u5176\u9002\u5e94\u4e0d\u65ad\u53d8\u5316\u7684\u6d88\u8d39\u8005\u504f\u597d\u7684\u80fd\u529b\u3002\u901a\u8fc7\u4e13\u6ce8\u4e8e\u51cf\u5bb3\u66ff\u4ee3\u54c1\uff0cPM \u786e\u4fdd\u4e86\u5728\u5377\u70df\u5e02\u573a\u840e\u7f29\u7684\u60c5\u51b5\u4e0b\u6536\u5165\u7684\u7a33\u5b9a\u6027\u3002\u8fd9\u79cd\u79ef\u6781\u4e3b\u52a8\u7684\u65b9\u6cd5\u4e0d\u4ec5\u51cf\u8f7b\u4e86\u4e0e\u5438\u70df\u8d8b\u52bf\u4e0b\u964d\u76f8\u5173\u7684\u98ce\u9669\uff0c\u8fd8\u5de9\u56fa\u4e86\u8be5\u516c\u53f8\u4f5c\u4e3a\u884c\u4e1a\u9886\u5bfc\u8005\u7684\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>FDA \u6279\u51c6\u3002<\/strong>FDA \u5bf9 Zyn \u5c3c\u53e4\u4e01\u888b\u7684\u6388\u6743\u6807\u5fd7\u7740 PM \u7684\u4e00\u4e2a\u91cd\u8981\u91cc\u7a0b\u7891\uff0c\u9a8c\u8bc1\u4e86\u5176\u51cf\u5bb3\u6218\u7565\uff0c\u5e76\u5728\u7f8e\u56fd\u5e02\u573a\u63d0\u4f9b\u4e86\u7ade\u4e89\u4f18\u52bf\u3002\u51ed\u501f\u5b98\u65b9\u76d1\u7ba1\u652f\u6301\uff0cPM \u53ef\u4ee5\u8fdb\u4e00\u6b65\u63a8\u5e7f Zyn \u4f5c\u4e3a\u4f20\u7edf\u70df\u8349\u7684\u66f4\u5b89\u5168\u66ff\u4ee3\u54c1\uff0c\u5438\u5f15\u66f4\u591a\u5e0c\u671b\u8f6c\u578b\u7684\u6210\u5e74\u5438\u70df\u8005\u3002\u6b64\u9879\u6279\u51c6\u8fd8\u4e3a\u6269\u5c55\u5230\u5176\u4ed6\u5730\u533a\u6253\u5f00\u4e86\u5927\u95e8\uff0c\u5728\u8fd9\u4e9b\u5730\u533a\uff0c\u7c7b\u4f3c\u7684\u76d1\u7ba1\u8ba4\u53ef\u53ef\u4ee5\u63a8\u52a8\u589e\u957f\u3002\u968f\u7740\u6ce8\u91cd\u5065\u5eb7\u7684\u6d88\u8d39\u8005\u5bfb\u6c42\u66ff\u4ee3\u54c1\uff0cPM \u6709\u80fd\u529b\u5229\u7528\u5bf9\u65e0\u70df\u5c3c\u53e4\u4e01\u4ea7\u54c1\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002<br>  <\/li>\n\n\n\n<li><strong>24 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u8425\u6536\u540c\u6bd4\u589e\u957f 7.3% \u81f3 97.1 \u4ebf\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f 2.7 \u4ebf\u7f8e\u5143\u3002Non-GAAP \u6bcf\u80a1\u6536\u76ca\u4e3a 1.55 \u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f 0.05 \u7f8e\u5143\u3002\u8be5\u516c\u53f8\u9884\u8ba1 25 \u8d22\u5e74\u8c03\u6574\u540e\u5e74\u5ea6\u6bcf\u80a1\u6536\u76ca\u5728 7.04 \u7f8e\u5143\u81f3 7.17 \u7f8e\u5143\u4e4b\u95f4\uff0c\u9ad8\u4e8e\u5206\u6790\u5e08\u9884\u671f\u7684 7.03 \u7f8e\u5143\u3002\u5b83\u8fd8\u9884\u6d4b\uff0c2025 \u5e74 ZYN \u5bf9\u7f8e\u56fd\u7684\u51fa\u8d27\u91cf\u5c06\u589e\u957f 34% \u81f3 41%\uff0c\u800c IQOS \u7684\u51fa\u8d27\u91cf\u4e5f\u5c06\u589e\u957f 10% \u81f3 12%\u3002<br>  <\/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\/03\/a-blue-and-white-rectangular-object-with-numbers-19.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-63550\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-numbers-19.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-numbers-19-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"485\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-7.jpeg\" alt=\"A graph showing a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-63551\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-7.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-7-300x142.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-7-768x364.jpeg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\n   \n<a id=\"post-63494-_Hlt181111973\"><\/a><a id=\"post-63494-_Hlt181111974\"><\/a><\/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-63494-_va9jaog5jnw3\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-27.png\" class=\"wp-image-63552\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-27.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-27-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/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\/03\/word-image-63494-28.png\" alt=\"\" class=\"wp-image-63553\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-28.png 618w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-63494-28-300x62.png 300w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Add Geo Energy Resources Ltd (GERL SP) at S$0.32.<strong> <\/strong>Cut loss on Oversea-Chinese Banking Corp Ltd (OCBC SP) at S$16.5, Prada SpA (1913 HK) at HK$60 and McDonald\u2019s Corp (MCD US) at US$300. \n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"426\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-data-table-ai-generated-content-1.png\" alt=\"A screenshot of a data table\n\nAI-generated content may be incorrect.\" class=\"wp-image-63554\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-data-table-ai-generated-content-1.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-data-table-ai-generated-content-1-300x136.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-data-table-ai-generated-content-1-768x347.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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 (Source: Bloomberg) \u6c5f\u897f\u94dc\u4e1a(358 HK)\uff1a\u6f5c\u5728\u5173\u7a0e\u63a8\u52a8\u94dc\u4ef7\u4e0a\u6da8 \u94dc\u4ef7\uff081\u5e74\uff09 (Source: Bloomberg) (Source: Bloomberg) \u963f\u91cc\u5df4\u5df4 (9988 HK)\uff1a\u9a71\u52a8\u4e2d\u56fd\u6570\u5b57\u672a\u6765 (Source: Bloomberg) Allstate Corp (ALL US)\uff1a\u95dc\u7a05\u5f71\u97ff\u4e0b\u7684\u7a4d\u6975\u7ba1\u7406 (Source: Bloomberg) \u83f2\u5229\u666e\u83ab\u91cc\u65af\u56fd\u9645\u516c\u53f8 (PM US)\uff1aZyn \u7684\u534f\u540c\u6548\u5e94 (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: [&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-63494","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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30 \u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002 \u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002 \u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002 \u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002 24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46 \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002 \u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684\" \/>\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 (chinese)\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.8\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"KGI Singapore Research \u2022 Singapore&#039;s leading broker offering Futures, FX, Equities and Wealth Management.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US) \u2022 KGI Singapore Research\" \/>\n\t\t<meta property=\"og: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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30 \u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002 \u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002 \u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002 \u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002 24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46 \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002 \u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-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=\"2025-03-13T10:27:12+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-03-14T02:53:31+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL 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 \u9999\u6e2f ^ Back To Top \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30 \u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002 \u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002 \u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002 \u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002 24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46 \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002 \u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684\" \/>\n\t\t<meta name=\"twitter:image\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"BlogPosting\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#blogposting\",\"name\":\"2025\\u5e743\\u670814\\u65e5: \\u5929\\u7136\\u7164\\u77ff\\u96c6\\u56e2(GERL SP), \\u6c5f\\u897f\\u94dc\\u4e1a(358 HK), Allstate Corp (ALL US) \\u2022 KGI Singapore Research\",\"headline\":\"2025\\u5e743\\u670814\\u65e5: \\u5929\\u7136\\u7164\\u77ff\\u96c6\\u56e2(GERL SP), \\u6c5f\\u897f\\u94dc\\u4e1a(358 HK), Allstate Corp (ALL US)\",\"author\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/jionghan-leekgi-com\\\/#author\"},\"publisher\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#organization\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/2.png?wsr\",\"width\":652,\"height\":385},\"datePublished\":\"2025-03-13T18:27:12+08:00\",\"dateModified\":\"2025-03-14T10:53:31+08:00\",\"inLanguage\":\"en-US\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#webpage\"},\"articleSection\":\"KGI Daily Trading Ideas (Chinese)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/kgi-daily-trading-ideas-chinese\\\/#listItem\",\"name\":\"KGI Daily Trading Ideas (Chinese)\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/kgi-daily-trading-ideas-chinese\\\/#listItem\",\"position\":2,\"name\":\"KGI Daily Trading Ideas (Chinese)\",\"item\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/kgi-daily-trading-ideas-chinese\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#listItem\",\"name\":\"2025\\u5e743\\u670814\\u65e5: \\u5929\\u7136\\u7164\\u77ff\\u96c6\\u56e2(GERL SP), \\u6c5f\\u897f\\u94dc\\u4e1a(358 HK), Allstate Corp (ALL US)\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#listItem\",\"position\":3,\"name\":\"2025\\u5e743\\u670814\\u65e5: \\u5929\\u7136\\u7164\\u77ff\\u96c6\\u56e2(GERL SP), \\u6c5f\\u897f\\u94dc\\u4e1a(358 HK), Allstate Corp (ALL US)\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/kgi-daily-trading-ideas-chinese\\\/#listItem\",\"name\":\"KGI Daily Trading Ideas (Chinese)\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#organization\",\"name\":\"KGI Research Singapore\",\"description\":\"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/\",\"telephone\":\"+6562021188\",\"logo\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/cropped-Square-logo-PNG.png?wsr\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#organizationLogo\",\"width\":512,\"height\":512},\"image\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#organizationLogo\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/jionghan-leekgi-com\\\/#author\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/jionghan-leekgi-com\\\/\",\"name\":\"Jiong Han Lee\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#authorImage\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/b90c0aaa9693b6dc42d9cfd11e3f78d04889aa9412286139e67a8cf7465b0f2f?s=96&d=mm&r=g\",\"width\":96,\"height\":96,\"caption\":\"Jiong Han Lee\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#webpage\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/\",\"name\":\"2025\\u5e743\\u670814\\u65e5: \\u5929\\u7136\\u7164\\u77ff\\u96c6\\u56e2(GERL SP), \\u6c5f\\u897f\\u94dc\\u4e1a(358 HK), Allstate Corp (ALL US) \\u2022 KGI Singapore Research\",\"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 \\u5929\\u7136\\u7164\\u77ff\\u96c6\\u56e2(GERL SP)\\uff1a\\u6f5c\\u5728\\u5229\\u597d\\u56e0\\u7d20 \\u91cd\\u7533\\u4e70\\u5165\\uff1a\\u4e70\\u5165\\u4ef7\\uff1a0.32\\uff0c\\u76ee\\u6807\\u4ef7\\uff1a0.36\\uff0c\\u6b62\\u635f\\u4ef7\\uff1a0.30 \\u5929\\u7136\\u7164\\u77ff\\u96c6\\u56e2\\u662f\\u4e00\\u5bb6\\u7efc\\u5408\\u7164\\u77ff\\u5f00\\u91c7\\u4e13\\u5bb6\\u3002\\u516c\\u53f8\\u62e5\\u6709\\u5e76\\u8fd0\\u8425\\u7164\\u77ff\\uff0c\\u540c\\u65f6\\u4e3a\\u7b2c\\u4e09\\u65b9\\u77ff\\u4e3b\\u63d0\\u4f9b\\u77ff\\u4e1a\\u627f\\u5305\\u670d\\u52a1\\uff0c\\u5e76\\u5411\\u7164\\u70ad\\u8d38\\u6613\\u5546\\u548c\\u7164\\u70ad\\u51fa\\u53e3\\u516c\\u53f8\\u9500\\u552e\\u7164\\u70ad\\u3002 \\u6210\\u672c\\u4f18\\u5316\\u548c\\u989d\\u5916\\u6536\\u5165\\u3002\\u8fd9\\u9879\\u4ef7\\u503c1.5\\u4ebf\\u7f8e\\u5143\\u7684\\u7efc\\u5408\\u57fa\\u7840\\u8bbe\\u65bd\\u9879\\u76ee\\uff0c\\u5305\\u62ec\\u4e00\\u676192\\u516c\\u91cc\\u7684\\u8fd0\\u8f93\\u9053\\u8def\\u548c\\u4e00\\u5ea7\\u603b\\u5bb9\\u91cf\\u4e3a4000\\u4e07\\u81f35000\\u4e07\\u5428\\u7684\\u7801\\u5934\\uff0c\\u9884\\u8ba1\\u5c06\\u6210\\u4e3a\\u516c\\u53f8\\u589e\\u957f\\u6218\\u7565\\u7684\\u57fa\\u77f3\\u3002\\u8be5\\u9879\\u76ee\\u4e0d\\u4ec5\\u63d0\\u5347\\u4e86\\u6210\\u672c\\u6548\\u7387\\uff0c\\u9884\\u8ba1\\u5728TRA\\u77ff\\u573a\\u6269\\u5927\\u7684\\u60c5\\u51b5\\u4e0b\\uff0c\\u80fd\\u591f\\u4ea7\\u751f4\\u4ebf\\u81f35\\u4ebf\\u7f8e\\u5143\\u7684EBITDA\\uff08\\u5047\\u8bbe\\u7164\\u70ad\\u4ef7\\u683c\\u7ef4\\u6301\\u572850\\u7f8e\\u5143\\u5de6\\u53f3\\uff09\\uff0c\\u8fd8\\u901a\\u8fc7\\u5411\\u7b2c\\u4e09\\u65b9\\u7528\\u6237\\u79df\\u8d411500\\u4e07\\u5428\\u7684\\u516c\\u8def\\u8fd0\\u8f93\\u80fd\\u529b\\uff0c\\u521b\\u9020\\u4e861.2\\u4ebf\\u81f31.5\\u4ebf\\u7f8e\\u5143\\u7684\\u989d\\u5916\\u6536\\u5165\\u6765\\u6e90\\u3002 \\u79ef\\u6781\\u7684\\u751f\\u4ea7\\u6307\\u5f15\\u3002\\u7ba1\\u7406\\u5c42\\u8bbe\\u5b9a\\u4e862025\\u5e74\\u751f\\u4ea7\\u76ee\\u6807\\uff0c\\u9884\\u8ba1\\u4e3a1050\\u4e07\\u52301150\\u4e07\\u5428\\uff0c\\u540c\\u6bd4\\u589e\\u957f32.9%\\u81f345.6%\\u3002\\u622a\\u81f32\\u6708\\uff0c\\u516c\\u53f8\\u5df2\\u5b9e\\u73b0240\\u4e07\\u5428\\u7684\\u4ea7\\u91cf\\u3002 \\u7164\\u70ad\\u4ef7\\u683c\\u7684\\u7a33\\u5b9a\\u5c55\\u671b\\u3002\\u7164\\u70ad\\u4ef7\\u683c\\u5c55\\u671b\\u4fdd\\u6301\\u7a33\\u5b9a\\uff0c\\u5f97\\u76ca\\u4e8e\\u4e2d\\u56fd2025\\u5e74\\u7ea65%\\u7684GDP\\u589e\\u957f\\u76ee\\u6807\\u548c\\u79ef\\u6781\\u7684\\u5b8f\\u89c2\\u653f\\u7b56\\u5b9e\\u65bd\\u3002\\u9884\\u8ba1\\u4eba\\u5de5\\u667a\\u80fd\\u7684\\u53d1\\u5c55\\u5c06\\u63a8\\u52a8\\u751f\\u4ea7\\u529b\\u63d0\\u5347\\uff0c\\u589e\\u5f3a\\u6d88\\u8d39\\u548c\\u6295\\u8d44\\u4fe1\\u5fc3\\uff0c\\u4ece\\u800c\\u7a33\\u5b9a\\u7164\\u70ad\\u9700\\u6c42\\u5e76\\u652f\\u6301\\u4ef7\\u683c\\u3002 24\\u8d22\\u5e74\\u4e1a\\u7ee9\\u56de\\u987e\\u3002\\u7531\\u4e8e\\u9500\\u91cf\\u548c\\u5e73\\u5747\\u552e\\u4ef7\\uff08ASP\\uff09\\u4e0b\\u964d\\uff0c\\u6536\\u5165\\u540c\\u6bd4\\u4e0b\\u964d18%\\uff0c\\u964d\\u81f34.019\\u4ebf\\u7f8e\\u5143\\u3002\\u51c0\\u5229\\u6da6\\u4e0b\\u964d41%\\uff0c\\u4e3a3,730\\u4e07\\u7f8e\\u5143\\u3002 (Source: Bloomberg) \\u7f8e\\u56fd\\u6c49\\u666e\\u90e1\\u8054\\u5408\\u623f\\u5730\\u4ea7\\u4fe1\\u6258 (UHU SP)\\uff1a\\u6301\\u7eed\\u589e\\u957f\\u4e0e\\u6269\\u5f20 \\u91cd\\u7533\\u4e70\\u5165\\uff1a\\u4e70\\u5165\\u4ef7\\uff1a0.48\\uff0c\\u76ee\\u6807\\u4ef7\\uff1a0.52\\uff0c\\u6b62\\u635f\\u4ef7\\uff1a0.46 \\u7f8e\\u56fd\\u6c49\\u666e\\u90e1\\u8054\\u5408\\u623f\\u5730\\u4ea7\\u4fe1\\u6258\\u662f\\u4e00\\u5bb6\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258\\u516c\\u53f8\\u3002\\u8be5\\u516c\\u53f8\\u62e5\\u6709\\u5e76\\u7ecf\\u8425\\u8d2d\\u7269\\u3001\\u4ed3\\u50a8\\u3001\\u6742\\u8d27\\u548c\\u5fc5\\u9700\\u54c1\\u96f6\\u552e\\u7269\\u4e1a\\u3002 \\u6709\\u5229\\u7684\\u5229\\u7387\\u73af\\u5883\\u3002\\u7f8e\\u8054\\u50a8\\u5728 2024 \\u5e74 12 \\u6708\\u5c06\\u5229\\u7387\\u4e0b\\u8c03 25 \\u4e2a\\u57fa\\u70b9\\uff0c\\u5c06\\u76ee\\u6807\\u533a\\u95f4\\u964d\\u81f3 4.25% \\u81f3 4.50%\\u3002\\u9884\\u8ba1\\u8f83\\u4f4e\\u7684\\u501f\\u8d37\\u6210\\u672c\\u5c06\\u589e\\u5f3a\\u8054\\u5408\\u6c49\\u666e\\u90e1\\u7f8e\\u56fd\\u623f\\u5730\\u4ea7\\u4fe1\\u6258\\u7684\\u8d22\\u52a1\\u7075\\u6d3b\\u6027\\u5e76\\u652f\\u6301\\u589e\\u957f\\u3002\\u5bf9\\u8054\\u90a6\\u57fa\\u91d1\\u5229\\u7387\\u7684\\u9884\\u6d4b\\u663e\\u793a\\uff0c\\u5230 2025 \\u5e74\\u5e95\\u5c06\\u8fbe\\u5230 3.50% \\u81f3 3.75% \\u7684\\u533a\\u95f4\\uff0c\\u5230 2026 \\u5e74\\u5e95\\u5c06\\u8fbe\\u5230 3.25% \\u81f3 3.50% \\u7684\\u533a\\u95f4\\u3002 \\u6218\\u7565\\u6027\\u8d44\\u4ea7\\u5265\\u79bb\\u3002\\u8054\\u5408\\u6c49\\u666e\\u90e1\\u7f8e\\u56fd\\u623f\\u5730\\u4ea7\\u4fe1\\u6258\\u6210\\u529f\\u5265\\u79bb\\u4e86\\u8d44\\u4ea7\\uff0c\\u5305\\u62ec 2024 \\u5e74\\u4e0b\\u534a\\u5e74\\u7684\",\"inLanguage\":\"en-US\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#breadcrumblist\"},\"author\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/jionghan-leekgi-com\\\/#author\"},\"creator\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/jionghan-leekgi-com\\\/#author\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/2.png?wsr\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#mainImage\",\"width\":652,\"height\":385},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-14-mar-2025-zh\\\/#mainImage\"},\"datePublished\":\"2025-03-13T18:27:12+08:00\",\"dateModified\":\"2025-03-14T10:53:31+08:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#website\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/\",\"name\":\"KGI Singapore Research\",\"description\":\"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.\",\"inLanguage\":\"en-US\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US) \u2022 KGI Singapore Research","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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30 \u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002 \u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002 \u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002 \u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002 24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46 \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002 \u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684","canonical_url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/","robots":"max-image-preview:large","keywords":"kgi daily trading ideas (chinese)","webmasterTools":{"miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BlogPosting","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#blogposting","name":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US) \u2022 KGI Singapore Research","headline":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US)","author":{"@id":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/#author"},"publisher":{"@id":"https:\/\/www.kgieworld.sg\/research\/#organization"},"image":{"@type":"ImageObject","url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr","width":652,"height":385},"datePublished":"2025-03-13T18:27:12+08:00","dateModified":"2025-03-14T10:53:31+08:00","inLanguage":"en-US","mainEntityOfPage":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#webpage"},"isPartOf":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#webpage"},"articleSection":"KGI Daily Trading Ideas (Chinese)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research#listItem","position":1,"name":"Home","item":"https:\/\/www.kgieworld.sg\/research","nextItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/category\/kgi-daily-trading-ideas-chinese\/#listItem","name":"KGI Daily Trading Ideas (Chinese)"}},{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/category\/kgi-daily-trading-ideas-chinese\/#listItem","position":2,"name":"KGI Daily Trading Ideas (Chinese)","item":"https:\/\/www.kgieworld.sg\/research\/category\/kgi-daily-trading-ideas-chinese\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#listItem","name":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US)"},"previousItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#listItem","position":3,"name":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US)","previousItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/category\/kgi-daily-trading-ideas-chinese\/#listItem","name":"KGI Daily Trading Ideas (Chinese)"}}]},{"@type":"Organization","@id":"https:\/\/www.kgieworld.sg\/research\/#organization","name":"KGI Research Singapore","description":"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.","url":"https:\/\/www.kgieworld.sg\/research\/","telephone":"+6562021188","logo":{"@type":"ImageObject","url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2020\/11\/cropped-Square-logo-PNG.png?wsr","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#organizationLogo","width":512,"height":512},"image":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#organizationLogo"}},{"@type":"Person","@id":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/#author","url":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/","name":"Jiong Han Lee","image":{"@type":"ImageObject","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#authorImage","url":"https:\/\/secure.gravatar.com\/avatar\/b90c0aaa9693b6dc42d9cfd11e3f78d04889aa9412286139e67a8cf7465b0f2f?s=96&d=mm&r=g","width":96,"height":96,"caption":"Jiong Han Lee"}},{"@type":"WebPage","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#webpage","url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/","name":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US) \u2022 KGI Singapore Research","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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30 \u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002 \u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002 \u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002 \u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002 24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46 \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002 \u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.kgieworld.sg\/research\/#website"},"breadcrumb":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#breadcrumblist"},"author":{"@id":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/#author"},"creator":{"@id":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/#author"},"image":{"@type":"ImageObject","url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#mainImage","width":652,"height":385},"primaryImageOfPage":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-2025-zh\/#mainImage"},"datePublished":"2025-03-13T18:27:12+08:00","dateModified":"2025-03-14T10:53:31+08:00"},{"@type":"WebSite","@id":"https:\/\/www.kgieworld.sg\/research\/#website","url":"https:\/\/www.kgieworld.sg\/research\/","name":"KGI Singapore Research","description":"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.","inLanguage":"en-US","publisher":{"@id":"https:\/\/www.kgieworld.sg\/research\/#organization"}}]},"og:locale":"en_US","og:site_name":"KGI Singapore Research \u2022 Singapore's leading broker offering Futures, FX, Equities and Wealth Management.","og:type":"article","og:title":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL US) \u2022 KGI Singapore Research","og: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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30 \u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002 \u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002 \u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002 \u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002 24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46 \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002 \u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-14-mar-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":"2025-03-13T10:27:12+00:00","article:modified_time":"2025-03-14T02:53:31+00:00","twitter:card":"summary","twitter:title":"2025\u5e743\u670814\u65e5: \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP), \u6c5f\u897f\u94dc\u4e1a(358 HK), Allstate Corp (ALL 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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.32\uff0c\u76ee\u6807\u4ef7\uff1a0.36\uff0c\u6b62\u635f\u4ef7\uff1a0.30 \u5929\u7136\u7164\u77ff\u96c6\u56e2\u662f\u4e00\u5bb6\u7efc\u5408\u7164\u77ff\u5f00\u91c7\u4e13\u5bb6\u3002\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u7164\u77ff\uff0c\u540c\u65f6\u4e3a\u7b2c\u4e09\u65b9\u77ff\u4e3b\u63d0\u4f9b\u77ff\u4e1a\u627f\u5305\u670d\u52a1\uff0c\u5e76\u5411\u7164\u70ad\u8d38\u6613\u5546\u548c\u7164\u70ad\u51fa\u53e3\u516c\u53f8\u9500\u552e\u7164\u70ad\u3002 \u6210\u672c\u4f18\u5316\u548c\u989d\u5916\u6536\u5165\u3002\u8fd9\u9879\u4ef7\u503c1.5\u4ebf\u7f8e\u5143\u7684\u7efc\u5408\u57fa\u7840\u8bbe\u65bd\u9879\u76ee\uff0c\u5305\u62ec\u4e00\u676192\u516c\u91cc\u7684\u8fd0\u8f93\u9053\u8def\u548c\u4e00\u5ea7\u603b\u5bb9\u91cf\u4e3a4000\u4e07\u81f35000\u4e07\u5428\u7684\u7801\u5934\uff0c\u9884\u8ba1\u5c06\u6210\u4e3a\u516c\u53f8\u589e\u957f\u6218\u7565\u7684\u57fa\u77f3\u3002\u8be5\u9879\u76ee\u4e0d\u4ec5\u63d0\u5347\u4e86\u6210\u672c\u6548\u7387\uff0c\u9884\u8ba1\u5728TRA\u77ff\u573a\u6269\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u80fd\u591f\u4ea7\u751f4\u4ebf\u81f35\u4ebf\u7f8e\u5143\u7684EBITDA\uff08\u5047\u8bbe\u7164\u70ad\u4ef7\u683c\u7ef4\u6301\u572850\u7f8e\u5143\u5de6\u53f3\uff09\uff0c\u8fd8\u901a\u8fc7\u5411\u7b2c\u4e09\u65b9\u7528\u6237\u79df\u8d411500\u4e07\u5428\u7684\u516c\u8def\u8fd0\u8f93\u80fd\u529b\uff0c\u521b\u9020\u4e861.2\u4ebf\u81f31.5\u4ebf\u7f8e\u5143\u7684\u989d\u5916\u6536\u5165\u6765\u6e90\u3002 \u79ef\u6781\u7684\u751f\u4ea7\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u8bbe\u5b9a\u4e862025\u5e74\u751f\u4ea7\u76ee\u6807\uff0c\u9884\u8ba1\u4e3a1050\u4e07\u52301150\u4e07\u5428\uff0c\u540c\u6bd4\u589e\u957f32.9%\u81f345.6%\u3002\u622a\u81f32\u6708\uff0c\u516c\u53f8\u5df2\u5b9e\u73b0240\u4e07\u5428\u7684\u4ea7\u91cf\u3002 \u7164\u70ad\u4ef7\u683c\u7684\u7a33\u5b9a\u5c55\u671b\u3002\u7164\u70ad\u4ef7\u683c\u5c55\u671b\u4fdd\u6301\u7a33\u5b9a\uff0c\u5f97\u76ca\u4e8e\u4e2d\u56fd2025\u5e74\u7ea65%\u7684GDP\u589e\u957f\u76ee\u6807\u548c\u79ef\u6781\u7684\u5b8f\u89c2\u653f\u7b56\u5b9e\u65bd\u3002\u9884\u8ba1\u4eba\u5de5\u667a\u80fd\u7684\u53d1\u5c55\u5c06\u63a8\u52a8\u751f\u4ea7\u529b\u63d0\u5347\uff0c\u589e\u5f3a\u6d88\u8d39\u548c\u6295\u8d44\u4fe1\u5fc3\uff0c\u4ece\u800c\u7a33\u5b9a\u7164\u70ad\u9700\u6c42\u5e76\u652f\u6301\u4ef7\u683c\u3002 24\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u7531\u4e8e\u9500\u91cf\u548c\u5e73\u5747\u552e\u4ef7\uff08ASP\uff09\u4e0b\u964d\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d18%\uff0c\u964d\u81f34.019\u4ebf\u7f8e\u5143\u3002\u51c0\u5229\u6da6\u4e0b\u964d41%\uff0c\u4e3a3,730\u4e07\u7f8e\u5143\u3002 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.48\uff0c\u76ee\u6807\u4ef7\uff1a0.52\uff0c\u6b62\u635f\u4ef7\uff1a0.46 \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u8be5\u516c\u53f8\u62e5\u6709\u5e76\u7ecf\u8425\u8d2d\u7269\u3001\u4ed3\u50a8\u3001\u6742\u8d27\u548c\u5fc5\u9700\u54c1\u96f6\u552e\u7269\u4e1a\u3002 \u6709\u5229\u7684\u5229\u7387\u73af\u5883\u3002\u7f8e\u8054\u50a8\u5728 2024 \u5e74 12 \u6708\u5c06\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u76ee\u6807\u533a\u95f4\u964d\u81f3 4.25% \u81f3 4.50%\u3002\u9884\u8ba1\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u5c06\u589e\u5f3a\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u7684\u8d22\u52a1\u7075\u6d3b\u6027\u5e76\u652f\u6301\u589e\u957f\u3002\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u9884\u6d4b\u663e\u793a\uff0c\u5230 2025 \u5e74\u5e95\u5c06\u8fbe\u5230 3.50% \u81f3 3.75% \u7684\u533a\u95f4\uff0c\u5230 2026 \u5e74\u5e95\u5c06\u8fbe\u5230 3.25% \u81f3 3.50% \u7684\u533a\u95f4\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u5265\u79bb\u3002\u8054\u5408\u6c49\u666e\u90e1\u7f8e\u56fd\u623f\u5730\u4ea7\u4fe1\u6258\u6210\u529f\u5265\u79bb\u4e86\u8d44\u4ea7\uff0c\u5305\u62ec 2024 \u5e74\u4e0b\u534a\u5e74\u7684","twitter:image":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr"},"aioseo_meta_data":{"post_id":"63494","title":null,"description":null,"keywords":null,"keyphrases":{"focus":{"keyphrase":"","score":0,"analysis":{"keyphraseInTitle":{"score":0,"maxScore":9,"error":1}}},"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":{"id":"#aioseo-article-67073429edeea","slug":"article","graphName":"Article","label":"Article","properties":{"type":"BlogPosting","name":"#post_title","headline":"#post_title","description":"#post_excerpt","image":"","keywords":"","author":{"name":"#author_name","url":"#author_url"},"dates":{"include":true,"datePublished":"","dateModified":""}}},"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"BlogPosting","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":"{\"article\":{\"articleType\":\"BlogPosting\"},\"course\":{\"name\":\"\",\"description\":\"\",\"provider\":\"\"},\"faq\":{\"pages\":[]},\"product\":{\"reviews\":[]},\"recipe\":{\"ingredients\":[],\"instructions\":[],\"keywords\":[]},\"software\":{\"reviews\":[],\"operatingSystems\":[]},\"webPage\":{\"webPageType\":\"WebPage\"}}","pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":null,"created":"2025-03-13 10:17:56","updated":"2025-06-07 03:08:19","seo_analyzer_scan_date":null},"uagb_featured_image_src":{"full":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"thumbnail":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2-150x150.png?wsr",150,150,true],"medium":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2-300x177.png?wsr",300,177,true],"medium_large":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"large":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"1536x1536":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"2048x2048":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false]},"uagb_author_info":{"display_name":"Jiong Han 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 \u5929\u7136\u7164\u77ff\u96c6\u56e2(GERL SP)\uff1a\u6f5c\u5728\u5229\u597d\u56e0\u7d20 (Source: Bloomberg) \u7f8e\u56fd\u6c49\u666e\u90e1\u8054\u5408\u623f\u5730\u4ea7\u4fe1\u6258 (UHU SP)\uff1a\u6301\u7eed\u589e\u957f\u4e0e\u6269\u5f20 (Source: Bloomberg) \u6c5f\u897f\u94dc\u4e1a(358 HK)\uff1a\u6f5c\u5728\u5173\u7a0e\u63a8\u52a8\u94dc\u4ef7\u4e0a\u6da8 \u94dc\u4ef7\uff081\u5e74\uff09 (Source: Bloomberg) (Source: Bloomberg) \u963f\u91cc\u5df4\u5df4 (9988 HK)\uff1a\u9a71\u52a8\u4e2d\u56fd\u6570\u5b57\u672a\u6765 (Source: Bloomberg) Allstate Corp (ALL US)\uff1a\u95dc\u7a05\u5f71\u97ff\u4e0b\u7684\u7a4d\u6975\u7ba1\u7406 (Source: Bloomberg) \u83f2\u5229\u666e\u83ab\u91cc\u65af\u56fd\u9645\u516c\u53f8 (PM US)\uff1aZyn \u7684\u534f\u540c\u6548\u5e94 (Source: Bloomberg) ^ Back To Top Trading Dashboard Update:&hellip;","_links":{"self":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/63494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/comments?post=63494"}],"version-history":[{"count":2,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/63494\/revisions"}],"predecessor-version":[{"id":63590,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/63494\/revisions\/63590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/media\/38071"}],"wp:attachment":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/media?parent=63494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/categories?post=63494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/tags?post=63494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}