{"id":64524,"date":"2025-03-27T22:27:57","date_gmt":"2025-03-27T14:27:57","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=64524"},"modified":"2025-03-28T10:47:36","modified_gmt":"2025-03-28T02:47:36","slug":"kgi-daily-trading-ideas-28-mar-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-mar-2025-zh\/","title":{"rendered":"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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-64524-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"941\" height=\"478\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-57.png\" alt=\"\" class=\"wp-image-64625\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-57.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-57-300x152.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-57-768x390.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=\"939\" height=\"240\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-58.png\" alt=\"\" class=\"wp-image-64626\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-58.png 939w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-58-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-58-768x196.png 768w\" sizes=\"(max-width: 939px) 100vw, 939px\" \/><\/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=\"940\" height=\"290\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-59.png\" alt=\"\" class=\"wp-image-64627\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-59.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-59-300x93.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/image-59-768x237.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/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-64524-4.png\" alt=\"\" class=\"wp-image-64560\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-4-300x64.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-64524-_qqv3rtx8nazp\"><\/a><a id=\"post-64524-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2110\" height=\"1049\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-phone-ai-generated-content-may-5.png\" alt=\"A screenshot of a phone\n\nAI-generated content may be incorrect.\" class=\"wp-image-64561\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-phone-ai-generated-content-may-5.png 2110w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-phone-ai-generated-content-may-5-300x149.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-phone-ai-generated-content-may-5-1024x509.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-phone-ai-generated-content-may-5-768x382.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-phone-ai-generated-content-may-5-1536x764.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-screenshot-of-a-phone-ai-generated-content-may-5-2048x1018.png 2048w\" sizes=\"(max-width: 2110px) 100vw, 2110px\" \/><\/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-64524-6.png\" alt=\"\" class=\"wp-image-64562\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-6-300x64.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-64524-_7c2gwybbbr90\"><\/a><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-64524-_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-64524-7.png\" class=\"wp-image-64563\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-7-300x64.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-64524-_34eo5yf8y7pj\"><\/a><strong><strong><strong>\u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270<\/strong><br>  <\/li>\n\n\n\n<li>\u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002<br>  <\/li>\n\n\n\n<li><strong>\u76c8\u5229\u524d\u666f\u63d0\u5347\u3002<\/strong> \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002<\/strong> EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002<\/strong> \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002<\/strong> \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002<br>  <\/li>\n\n\n\n<li>\u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\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-64564\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-8.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-8.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-8-300x64.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=\"1118\" height=\"570\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-9.jpeg\" alt=\"\" class=\"wp-image-64565\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-9.jpeg 1118w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-9-300x153.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-9-1024x522.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-9-768x392.jpeg 768w\" sizes=\"(max-width: 1118px) 100vw, 1118px\" \/><\/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-23.png\" class=\"wp-image-64566\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-white-background-description-aut-23.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-white-background-description-aut-23-300x64.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-64524-_34eo5yf8y7pj\"><\/a><strong><strong>\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174<\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64<\/strong><br>  <\/li>\n\n\n\n<li>\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 <\/strong>\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 <\/strong>\u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 <\/strong>\u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002<br>  <\/li>\n\n\n\n<li><strong>24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 <\/strong>\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002<br>  <\/li>\n\n\n\n<li>\u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\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-64567\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-numbers-38.png\" alt=\"A blue and white rectangular object with numbers\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-numbers-38.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-numbers-38-300x64.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=\"1189\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-of-a-stock-market-ai-generated-content-ma-9.jpeg\" alt=\"A graph of a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-64568\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-of-a-stock-market-ai-generated-content-ma-9.jpeg 1189w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-of-a-stock-market-ai-generated-content-ma-9-300x145.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-of-a-stock-market-ai-generated-content-ma-9-1024x495.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-of-a-stock-market-ai-generated-content-ma-9-768x371.jpeg 768w\" sizes=\"(max-width: 1189px) 100vw, 1189px\" \/><\/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\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-13.png\" class=\"wp-image-64569\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-13-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\"><a id=\"post-64524-_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-64524-14.png\" class=\"wp-image-64570\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-64524-_34eo5yf8y7pj\"><\/a><strong>\u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK)\uff1a\u9884\u8ba1\u4ea4\u6613\u6d3b\u52a8\u5c06\u589e\u52a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a350\uff0c\u76ee\u6807\u4ef7\uff1a390\uff0c\u6b62\u635f\u4ef7\uff1a330<\/strong><br>  <\/li>\n\n\n\n<li>\u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u80a1\u7968\u4ea4\u6613\u6240\u7ecf\u8425\u7684\u516c\u53f8\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u4e94\u4e2a\u4e1a\u52a1\u90e8\u95e8\u3002\u73b0\u8d27\u90e8\u95e8\u5305\u62ec\u73b0\u8d27\u5e02\u573a\u4ea4\u6613\u5e73\u53f0\u3001\u4e0a\u6d77\u8bc1\u5238\u4ea4\u6613\u6240\u548c\u6df1\u5733\u8bc1\u5238\u4ea4\u6613\u6240\u4e70\u5356\u7684\u80a1\u672c\u8bc1\u5238\u4ea7\u54c1\u3002\u80a1\u672c\u8bc1\u5238\u53ca\u91d1\u878d\u884d\u751f\u4ea7\u54c1\u90e8\u95e8\u5305\u62ec\u5728\u9999\u6e2f\u671f\u4ea4\u6240\u548c\u9999\u6e2f\u8054\u4ea4\u6240\u4e70\u5356\u7684\u884d\u751f\u4ea7\u54c1\u3002\u5546\u54c1\u90e8\u95e8\u5305\u62ec\u5728\u4f26\u6566\u91d1\u5c5e\u4ea4\u6613\u6240\uff08LME\uff09\u7684\u4e1a\u52a1\u3002\u7ed3\u7b97\u90e8\u95e8\u5305\u62ec\u5728\u9999\u6e2f\u4e2d\u592e\u7ed3\u7b97\u6709\u9650\u516c\u53f8\u3001\u8054\u4ea4\u6240\u671f\u6743\u7ed3\u7b97\u6240\u3001\u671f\u8d27\u7ed3\u7b97\u516c\u53f8\u3001\u573a\u5916\u7ed3\u7b97\u516c\u53f8\u53caLME Clear Limited\u7684\u4e1a\u52a1\u3002\u5e73\u53f0\u53ca\u57fa\u7840\u8bbe\u65bd\u90e8\u95e8\u63d0\u4f9b\u5e73\u53f0\u53ca\u8be5\u516c\u53f8\u7684\u57fa\u7840\u8bbe\u65bd\u4f7f\u7528\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5927\u578b\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08IPO\uff09\u63d0\u632f\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u3002<\/strong> \u5168\u7403\u6700\u5927\u7684\u7535\u52a8\u6c7d\u8f66\uff08EV\uff09\u7535\u6c60\u751f\u4ea7\u5546\u5b81\u5fb7\u65f6\u4ee3\uff08CATL\uff09\u5df2\u83b7\u5f97\u76d1\u7ba1\u90e8\u95e8\u6279\u51c6\uff0c\u5c06\u5728\u9999\u6e2f\u9996\u6b21\u516c\u5f00\u53d1\u884c\u80a1\u7968\u3002\u867d\u7136\u5b81\u5fb7\u65f6\u4ee3\u5c1a\u672a\u516c\u5e03\u5b9a\u4ef7\uff0c\u4f46\u5176\u63d0\u4ea4\u7684\u6587\u4ef6\u663e\u793a\uff0c\u8ba1\u5212\u53d1\u552e\u6700\u591a2.2017\u4ebf\u80a1\u80a1\u7968\u3002\u5a92\u4f53\u62a5\u9053\u79f0\uff0c\u6b64\u6b21IPO\u53ef\u80fd\u7b79\u96c6\u81f3\u5c1150\u4ebf\u7f8e\u5143\uff0c\u8fd9\u5c06\u662f\u81ea\u5feb\u624b\u79d1\u62802021\u5e741\u670862\u4ebf\u7f8e\u5143\u53d1\u884c\u4ee5\u6765\u9999\u6e2f\u89c4\u6a21\u6700\u5927\u7684IPO\u3002\u6b64\u6b21\u5177\u6709\u91cc\u7a0b\u7891\u610f\u4e49\u7684\u4e0a\u5e02\u5c06\u91cd\u632f\u9999\u6e2f\u4ea4\u6613\u6240\uff08HKEX\uff09\u7684IPO\u5e02\u573a\uff0c\u63a8\u52a8\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u4e0a\u5347\uff0c\u5e76\u652f\u6301\u66f4\u9ad8\u7684\u4ea4\u6613\u6536\u5165\u3002<br>  <\/li>\n\n\n\n<li><strong>\u652f\u6301\u6027\u8d27\u5e01\u653f\u7b56\u3002 <\/strong>\u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\uff08PBOC\uff09\u526f\u884c\u957f\u90b9\u6f9c\u6700\u8fd1\u91cd\u7533\uff0c\u4e2d\u56fd\u7684\u8d27\u5e01\u653f\u7b56\u4ecd\u7136\u662f\u5bbd\u677e\u548c\u76f8\u5bf9\u5bbd\u677e\u7684\u3002\u968f\u7740\u6f5c\u5728\u7684\u964d\u606f\u548c\u964d\u4f4e\u5b58\u6b3e\u51c6\u5907\u91d1\u7387\uff08RRR\uff09\u5373\u5c06\u5230\u6765\uff0c\u6d41\u52a8\u6027\u72b6\u51b5\u9884\u8ba1\u5c06\u6709\u6240\u6539\u5584\u3002\u652f\u6301\u6027\u7684\u8d27\u5e01\u73af\u5883\u5c06\u901a\u8fc7\u964d\u4f4e\u878d\u8d44\u6210\u672c\u3001\u523a\u6fc0\u7ecf\u6d4e\u6d3b\u52a8\u548c\u589e\u5f3a\u6295\u8d44\u8005\u4fe1\u5fc3\u6765\u4f7f\u9999\u6e2f\u4ea4\u6613\u6240\u53d7\u76ca\u2014\u2014\u6240\u6709\u8fd9\u4e9b\u90fd\u53ef\u80fd\u5bfc\u81f4\u66f4\u9ad8\u7684\u4ea4\u6613\u91cf\u548c\u65b0\u4e0a\u5e02\u516c\u53f8\u7684\u589e\u52a0\u3002<br>  <\/li>\n\n\n\n<li><strong>\u63a8\u51fa\u5355\u53ea\u80a1\u7968\u6760\u6746\u4ea7\u54c1\u3002 <\/strong>\u9999\u6e2f\u4ea4\u6613\u6240\u63a8\u51fa\u4e86\u5355\u53ea\u80a1\u7968\u6760\u6746\u53ca\u53cd\u5411\uff08L&I\uff09\u4ea7\u54c1\uff0c\u6210\u4e3a\u4e9a\u6d32\u9996\u5bb6\u4e0a\u5e02\u6b64\u7c7b\u5de5\u5177\u7684\u4ea4\u6613\u6240\u3002\u8fd9\u4e9b\u4ea7\u54c1\u7531\u5357\u65b9\u4e1c\u82f1\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u5408\u4f5c\u5f00\u53d1\uff0c\u4e3a\u5305\u62ec\u7279\u65af\u62c9\u3001\u82f1\u4f1f\u8fbe\u3001Coinbase\u3001\u4f2f\u514b\u5e0c\u5c14\u00b7\u54c8\u6492\u97e6\u548c\u5fae\u7b56\u7565\u5728\u5185\u7684\u9ad8\u6d41\u52a8\u6027\u6d77\u5916\u80a1\u7968\u63d0\u4f9b+2\u500d\u6760\u6746\u548c-2\u500d\u53cd\u5411\u655e\u53e3\u3002\u6b64\u6b21\u6269\u5f20\u4e3a\u6295\u8d44\u8005\u63d0\u4f9b\u4e86\u65b0\u7684\u6218\u672f\u5de5\u5177\uff0c\u7528\u4e8e\u98ce\u9669\u7ba1\u7406\u548c\u77ed\u671f\u4ea4\u6613\u7b56\u7565\u3002\u6b64\u6b21\u63a8\u51fa\u9884\u8ba1\u5c06\u5438\u5f15\u6d3b\u8dc3\u7684\u4ea4\u6613\u8005\u548c\u673a\u6784\u6295\u8d44\u8005\uff0c\u8fdb\u4e00\u6b65\u6269\u5927\u5e02\u573a\u6df1\u5ea6\uff0c\u5e76\u589e\u5f3a\u9999\u6e2f\u4ea4\u6613\u6240\u4f5c\u4e3a\u5168\u7403\u91d1\u878d\u4e2d\u5fc3\u7684\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002 <\/strong>2024\u8d22\u5e74\u6536\u5165\u540c\u6bd4\u589e\u957f12.3%\uff0c\u8fbe\u5230173\u4ebf\u6e2f\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a154\u4ebf\u6e2f\u5143\u30022024\u8d22\u5e74\u51c0\u5229\u6da6\u589e\u957f9.8%\uff0c\u8fbe\u5230132\u4ebf\u6e2f\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a120\u4ebf\u6e2f\u5143\u30022024\u8d22\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u4e0a\u5347\u81f310.32\u6e2f\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a9.37\u6e2f\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-64571\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-15.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-15-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1118\" height=\"570\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-16.jpeg\" alt=\"\" class=\"wp-image-64572\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-16.jpeg 1118w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-16-300x153.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-16-1024x522.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-16-768x392.jpeg 768w\" sizes=\"(max-width: 1118px) 100vw, 1118px\" \/><\/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-64524-17.png\" class=\"wp-image-64573\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-17.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-17-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e2d\u56fd\u4eba\u6c11\u4fdd\u9669(2328 HK)\uff1a\u53d7\u76ca\u4e8e\u5f3a\u52b2\u7684\u7535\u52a8\u6c7d\u8f66\u9500\u552e<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a13.30\uff0c\u76ee\u6807\u4ef7\uff1a15.30\uff0c\u6b62\u635f\u4ef7\uff1a12.30<\/strong><br>  <\/li>\n\n\n\n<li>\u4e2d\u56fd\u4eba\u6c11\u8d22\u4ea7\u4fdd\u9669\u80a1\u4efd\u6709\u9650\u516c\u53f8\uff08PICC Property and Casualty Co Ltd\uff09**\u662f\u4e00\u5bb6\u603b\u90e8\u4f4d\u4e8e\u4e2d\u56fd\u7684\u516c\u53f8\uff0c\u4e3b\u8981\u4ece\u4e8b\u8d22\u4ea7\u4fdd\u9669\u548c\u610f\u5916\u4f24\u5bb3\u4fdd\u9669\u4e1a\u52a1\u3002\u516c\u53f8\u901a\u8fc7\u516d\u4e2a\u4e1a\u52a1\u677f\u5757\u8fd0\u8425\u3002\u673a\u52a8\u8f66\u4fdd\u9669\u677f\u5757\u63d0\u4f9b\u6db5\u76d6\u673a\u52a8\u8f66\u7684\u4fdd\u9669\u4ea7\u54c1\uff1b\u610f\u5916\u4f24\u5bb3\u4e0e\u5065\u5eb7\u4fdd\u9669\u677f\u5757\u63d0\u4f9b\u6db5\u76d6\u610f\u5916\u4f24\u5bb3\u548c\u533b\u7597\u8d39\u7528\u7684\u4fdd\u9669\u4ea7\u54c1\uff1b\u519c\u4e1a\u4fdd\u9669\u677f\u5757\u63d0\u4f9b\u6db5\u76d6\u519c\u4e1a\u4e1a\u52a1\u7684\u4fdd\u9669\u4ea7\u54c1\uff1b\u8d23\u4efb\u4fdd\u9669\u677f\u5757\u63d0\u4f9b\u8986\u76d6\u6295\u4fdd\u4eba\u8d23\u4efb\u7684\u4fdd\u9669\u4ea7\u54c1\uff1b\u5546\u4e1a\u8d22\u4ea7\u4fdd\u9669\u677f\u5757\u63d0\u4f9b\u6db5\u76d6\u5546\u4e1a\u8d22\u4ea7\u7684\u4fdd\u9669\u4ea7\u54c1\uff1b\u5176\u4ed6\u677f\u5757\u4e3b\u8981\u5305\u62ec\u8d27\u8fd0\u3001\u4fe1\u7528\u4e0e\u4fdd\u8bc1\u3001\u5bb6\u5ead\u8d22\u4ea7\u3001\u7279\u6b8a\u98ce\u9669\u3001\u8239\u8236\u53ca\u5efa\u7b51\u76f8\u5173\u7684\u4fdd\u9669\u4ea7\u54c1\u3002\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u65b0\u80fd\u6e90\u6c7d\u8f66\u9500\u552e\u589e\u957f\u63a8\u52a8\u8f66\u9669\u9700\u6c42\u3002<\/strong>\u4eca\u5e742\u6708\uff0c\u4e2d\u56fd\u65b0\u80fd\u6e90\u6c7d\u8f66\u5e02\u573a\u589e\u957f\u52bf\u5934\u5f3a\u52b2\uff0c\u5360\u5168\u7403120\u4e07\u8f86\u65b0\u80fd\u6e90\u6c7d\u8f66\u548c\u6df7\u5408\u52a8\u529b\u6c7d\u8f66\u9500\u91cf\u7684\u8fd1\u56db\u5206\u4e4b\u4e09\u3002\u5c3d\u7ba1\u6b27\u6d32\u548c\u7f8e\u56fd\u7eb7\u7eb7\u8bbe\u7acb\u8fdb\u53e3\u58c1\u5792\uff0c\u4ee5\u904f\u5236\u4e2d\u56fd\u54c1\u724c\u7684\u5e02\u573a\u4e3b\u5bfc\u5730\u4f4d\uff0c\u4f46\u4e2d\u56fd\u7eaf\u7535\u52a8\u6c7d\u8f66\u9500\u91cf\u4ecd\u540c\u6bd4\u589e\u957f46%\uff0c\u4e3b\u8981\u53d7\u6bd4\u4e9a\u8fea\u3001\u5c0f\u7c73\u3001\u5c0f\u9e4f\u548c\u6781\u6c2a\u7b49\u54c1\u724c\u65b0\u8f66\u578b\u53d1\u5e03\u7684\u63a8\u52a8\u3002\u968f\u7740\u8d8a\u6765\u8d8a\u591a\u7684\u6d88\u8d39\u8005\u4ece\u71c3\u6cb9\u6df7\u5408\u52a8\u529b\u6c7d\u8f66\u8f6c\u5411\u7eaf\u7535\u52a8\u8f66\u578b\uff0c\u8f66\u9669\u9700\u6c42\u9884\u8ba1\u5c06\u968f\u4e4b\u4e0a\u5347\uff0c\u8fd9\u5c06\u60e0\u53ca\u4e2d\u56fd\u4eba\u6c11\u8d22\u4ea7\u4fdd\u9669\u7b49\u4fdd\u9669\u516c\u53f8\u3002<br>  <\/li>\n\n\n\n<li><strong>\u62d3\u5c55\u9999\u6e2f\u6c7d\u8f66\u4fdd\u9669\u5e02\u573a\u3002<\/strong>\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0c\u4e2d\u56fd\u4eba\u6c11\u8d22\u4ea7\u4fdd\u9669\u4e0e\u53e6\u5916\u4e24\u5bb6\u4e2d\u56fd\u4fdd\u9669\u516c\u53f8\u7b7e\u7f72\u4e86\u4e00\u4efd\u300a\u7eff\u8272\u884c\u52a8\u5168\u7403\u5021\u8bae\u300b\u5408\u4f5c\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u4ee5\u63a8\u52a8\u9999\u6e2f\u6c7d\u8f66\u4fdd\u9669\u5e02\u573a\u7684\u6269\u5c55\u3002\u8be5\u5408\u4f5c\u65e8\u5728\u6574\u5408\u5404\u65b9\u8d44\u6e90\u3001\u6280\u672f\u4e13\u957f\u548c\u884c\u4e1a\u7ecf\u9a8c\uff0c\u5171\u540c\u63a8\u52a8\u9488\u5bf9\u4e2d\u56fd\u65b0\u80fd\u6e90\u6c7d\u8f66\u7684\u4fdd\u9669\u4ea7\u54c1\u5728\u9999\u6e2f\u7684\u53d1\u5c55\u3002<br>  <\/li>\n\n\n\n<li><strong>\u533b\u7597\u4fdd\u9669\u9886\u57df\u7684\u6218\u7565\u5408\u4f5c\u3002<\/strong>\u4e2d\u56fd\u4eba\u6c11\u8d22\u4ea7\u4fdd\u9669\u8fd1\u65e5\u4e0e\u77e5\u4fdd\u79d1\u6280\uff08Zhibao Technology Inc.\uff09\u548c\u6155\u5c3c\u9ed1\u518d\u4fdd\u9669\u5317\u4eac\u5206\u516c\u53f8\uff08Munich Re Beijing\uff09\u8fbe\u6210\u6218\u7565\u5408\u4f5c\uff0c\u63a8\u51fa\u65b0\u4e00\u4ee3\u4e2d\u56fd\u79c1\u4eba\u533b\u7597\u4fdd\u9669\u4ea7\u54c1\u3002\u672c\u6b21\u5408\u4f5c\u65e8\u5728\u4e3a\u4e2d\u56fd\u6d88\u8d39\u8005\u63d0\u4f9b\u8d85\u8d8a\u516c\u5171\u533b\u7597\u4fdd\u9669\u8303\u56f4\u7684\u9ad8\u8d28\u91cf\u533b\u7597\u670d\u52a1\u3002\u4e09\u65b9\u5c06\u53d1\u6325\u5404\u81ea\u4f18\u52bf\uff0c\u6253\u9020\u4e00\u6b3e\u5168\u9762\u3001\u521b\u65b0\u7684\u533b\u7597\u4fdd\u9669\u89e3\u51b3\u65b9\u6848\uff0c\u6ee1\u8db3\u4e2d\u56fd\u4e0d\u65ad\u589e\u957f\u7684\u4e2d\u4ea7\u9636\u7ea7\u9700\u6c42\u3002\u9996\u6b3e\u4ea7\u54c1\u9884\u8ba1\u5c06\u5728\u672a\u6765\u51e0\u4e2a\u6708\u5185\u6b63\u5f0f\u63a8\u51fa\u3002<br>  <\/li>\n\n\n\n<li><strong>9M24\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2024\u5e74\u524d\u4e5d\u4e2a\u6708\uff0c\u516c\u53f8\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f7.9%\uff0c\u8fbe\u4eba\u6c11\u5e013923\u4ebf\u5143\uff0c\u800c2023\u5e74\u540c\u671f\u4e3a\u4eba\u6c11\u5e013634\u4ebf\u5143\u3002\u540c\u671f\uff0c\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f38.0%\uff0c\u8fbe\u4eba\u6c11\u5e01268\u4ebf\u5143\uff0c\u800c2023\u5e74\u524d\u4e5d\u4e2a\u6708\u4e3a\u4eba\u6c11\u5e01194\u4ebf\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-64574\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-box-with-white-text-21.png\" alt=\"A blue and white rectangular box 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-box-with-white-text-21.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-box-with-white-text-21-300x64.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=\"1189\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-green-and-red-lines-ai-generated-con-1.jpeg\" alt=\"A graph with green and red lines\n\nAI-generated content may be incorrect.\" class=\"wp-image-64575\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-green-and-red-lines-ai-generated-con-1.jpeg 1189w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-green-and-red-lines-ai-generated-con-1-300x145.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-green-and-red-lines-ai-generated-con-1-1024x495.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-with-green-and-red-lines-ai-generated-con-1-768x371.jpeg 768w\" sizes=\"(max-width: 1189px) 100vw, 1189px\" \/><\/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-64524-20.png\" alt=\"\" class=\"wp-image-64576\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-20.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-20-300x64.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-64524-_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-64524-21.png\" class=\"wp-image-64577\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-21.png 827w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-21-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-21-768x98.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>DoorDash (DASH US)\uff1a\u9001\u9910\u670d\u52d9\u4fdd\u6301\u5f3a\u52b2<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a188 \u76ee\u6807\u4ef7\uff1a210 \u6b62\u635f\u4ef7\uff1a178<\/strong><br>  <\/li>\n\n\n\n<li>Doordash, Inc.\u63d0\u4f9b\u9910\u5385\u9001\u9910\u670d\u52a1\u3002\u8be5\u516c\u53f8\u5f00\u53d1\u4e86\u4e00\u79cd\u6280\u672f\uff0c\u901a\u8fc7\u6309\u9700\u98df\u54c1\u914d\u9001\u5e94\u7528\u7a0b\u5e8f\u5c06\u5ba2\u6237\u4e0e\u5546\u5bb6\u8054\u7cfb\u8d77\u6765\u3002DoorDash\u4e3a\u7f8e\u56fd\u7684\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6d88\u8d39\u7684\u7f29\u51cf\u6709\u5229\u4e8e\u5916\u5356\u670d\u52a1\u3002<\/strong>\u6709\u8ff9\u8c61\u8868\u660e\uff0c\u7279\u6717\u666e\u6fc0\u8fdb\u7684\u5173\u7a0e\u653f\u7b56\u548c\u653f\u5e9c\u7f29\u51cf\u89c4\u6a21\u7684\u884c\u52a8\u6b63\u5728\u5bfc\u81f4\u7ecf\u6d4e\u653e\u7f13\u6216\u6ede\u80c0\u30022\u6708\u4efd\u96f6\u552e\u9500\u552e\u4f4e\u4e8e\u9884\u671f\uff0c3\u6708\u4efd\u6d88\u8d39\u8005\u4fe1\u5fc3\u8dcc\u81f32022\u5e7411\u6708\u4ee5\u6765\u7684\u6700\u4f4e\u6c34\u5e73\u3002\u5728\u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u4e0a\u5347\u7684\u60c5\u51b5\u4e0b\uff0c\u7f8e\u56fd\u6d88\u8d39\u8005\u6b63\u9010\u6e10\u7f29\u51cf\u652f\u51fa\u3002\u7531\u4e8e\u5916\u5356\u670d\u52a1\u7684\u7edf\u4e00\u8d39\u7387\u4ece3\u7f8e\u5143\u52305\u7f8e\u5143\u4e0d\u7b49\uff0c\u9910\u9986\u670d\u52a1\u7684\u6602\u8d35\u5c0f\u8d39\u7ee7\u7eed\u6210\u4e3a\u5916\u5356\u670d\u52a1\u7684\u63a8\u52a8\u529b\u3002\u4e0e\u4e0a\u95e8\u5c31\u9910\u76f8\u6bd4\uff0c\u6d88\u8d39\u8005\u66f4\u503e\u5411\u4e8e\u9009\u62e9\u5916\u5356\u3002<br>  <\/li>\n\n\n\n<li><strong>\u7f8e\u56fd\u9886\u5148\u7684\u5916\u5356\u5e73\u53f0\u3002<\/strong>2024\u5e74\uff0cDoorDash\u5728\u7f8e\u56fd\u5916\u5356\u5e73\u53f0\u5e02\u573a\u4e0a\u7684\u5546\u54c1\u603b\u91cf\u6392\u540d\u7b2c\u4e00\uff0c\u5e02\u573a\u4efd\u989d\u7ea6\u4e3a67%\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6269\u5927\u914d\u9001\u670d\u52a1\u548c\u6709\u5e0c\u671b\u7684\u7528\u6237\u589e\u957f\u3002<\/strong>DoorDash\u9010\u6e10\u6269\u5927\u4e86\u4e1a\u52a1\u8303\u56f4\uff0c\u4e0d\u4ec5\u5c40\u9650\u4e8e\u9910\u996e\uff0c\u8fd8\u5305\u62ec\u6742\u8d27\u914d\u9001\u3001\u9152\u7c7b\u914d\u9001\u7b49\uff0c\u8fdb\u4e00\u6b65\u6ee1\u8db3\u7528\u6237\u7684\u591a\u6837\u5316\u9700\u6c42\u30022024\u5e74\uff0cDashPass\u7684\u8ba2\u9605\u7528\u6237\u8d85\u8fc71800\u4e07\uff0c\u6708\u6d3b\u8dc3\u7528\u6237\u8fbe\u52304200\u591a\u4e07\u7684\u5386\u53f2\u65b0\u9ad8\uff0c\u9ad8\u4e8e2023\u5e74\u76843700\u4e07\u3002<br>  <\/li>\n\n\n\n<li><strong>24\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f26.1%\u81f329\u4ebf\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f5,000\u4e07\u7f8e\u5143\u3002GAAP\u6bcf\u80a1\u6536\u76ca\u4e3a0.33\u7f8e\u5143\u30022024\u5e74\uff0c\u603b\u8ba2\u5355\u989d\uff08GOV\uff09\u540c\u6bd4\u589e\u957f21%\uff0c\u8fbe\u5230213\u4ebf\u7f8e\u5143\u3002\u7ba1\u7406\u5c42\u4f30\u8ba1\u7b2c\u4e00\u5b63\u5ea6\u603b\u8ba2\u5355\u989d\u4e3a226\u4ebf\u7f8e\u5143<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-39.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-64578\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-numbers-39.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-numbers-39-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1118\" height=\"570\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-22.jpeg\" alt=\"A graph showing a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-64579\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-22.jpeg 1118w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-22-300x153.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-22-1024x522.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-22-768x392.jpeg 768w\" sizes=\"(max-width: 1118px) 100vw, 1118px\" \/><\/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-23.png\" class=\"wp-image-64580\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-flag-description-automatically-g-23.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-flag-description-automatically-g-23-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-long-line-of-a-flag-description-automatically-g-23-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>SAP SE (SAP US)\uff1aSAP \u5236\u80dc<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a269 \u76ee\u6807\u4ef7\uff1a297 \u6b62\u635f\u4ef7\uff1a255<\/strong><br>  <\/li>\n\n\n\n<li>SAP SE \u662f\u4e00\u5bb6\u8de8\u56fd\u8f6f\u4ef6\u516c\u53f8\u3002\u8be5\u516c\u53f8\u5f00\u53d1\u5546\u4e1a\u8f6f\u4ef6\uff0c\u5305\u62ec\u7535\u5b50\u5546\u52a1\u548c\u4f01\u4e1a\u7ba1\u7406\u8f6f\u4ef6\uff0c\u63d0\u4f9b\u5176\u5e94\u7528\u8f6f\u4ef6\u7684\u7ec4\u7ec7\u4f7f\u7528\u54a8\u8be2\uff0c\u5e76\u63d0\u4f9b\u57f9\u8bad\u670d\u52a1\u3002SAP \u5728\u5168\u7403\u8303\u56f4\u5185\u9500\u552e\u5176\u4ea7\u54c1\u548c\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u81ea\u52a8\u5316\u6d41\u7a0b\u7684\u6539\u8fdb\u3002<\/strong>SAP SE \u5728 SAP Concur Fusion \u5927\u4f1a\u4e0a\u5ba3\u5e03\u4e86\u65b0\u7684\u751f\u6210\u5f0f\u4eba\u5de5\u667a\u80fd\u529f\u80fd\uff0c\u5e76\u6269\u5927\u4e86\u4e0e\u7f8e\u56fd\u8fd0\u901a\u7684\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u3002SAP \u7684\u4eba\u5de5\u667a\u80fd\u526f\u9a7e\u9a76 Joule \u5c06\u96c6\u6210\u5230 Concur \u89e3\u51b3\u65b9\u6848\u4e2d\uff0c\u4ee5\u5b9e\u73b0\u5dee\u65c5\u548c\u8d39\u7528\u7ba1\u7406\u7684\u81ea\u52a8\u5316\u3002\u6b64\u5916\uff0cSAP Concur \u548c\u7f8e\u56fd\u8fd0\u901a\u8fd8\u63a8\u51fa\u4e86\u4f01\u4e1a\u4fe1\u7528\u5361\u4ea4\u6613\u7684\u5b9e\u65f6\u6388\u6743\u6570\u636e\u3002SAP Concur \u4ecd\u7136\u662f\u5dee\u65c5\u548c\u8d39\u7528\u7ba1\u7406\u9886\u57df\u7684\u5e02\u573a\u9886\u5bfc\u8005\uff0c\u5e76\u8ba1\u5212\u4e0e\u4e07\u4e8b\u8fbe\u5361\u548c\u7f8e\u56fd\u8fd0\u901a\u5168\u7403\u5546\u52a1\u65c5\u884c\u8fdb\u884c\u8fdb\u4e00\u6b65\u96c6\u6210\u3002\u901a\u8fc7\u6df1\u5316\u4e0e\u91d1\u878d\u670d\u52a1\u63d0\u4f9b\u5546\u7684\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u5e76\u6269\u5c55\u81ea\u52a8\u5316\u529f\u80fd\uff0cSAP \u65e8\u5728\u589e\u5f3a\u7528\u6237\u4f53\u9a8c\uff0c\u63d0\u9ad8\u5408\u89c4\u6027\uff0c\u5e76\u63d0\u9ad8\u4f01\u4e1a\u7684\u6210\u672c\u6548\u76ca\u3002\u672a\u6765\u5728\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u8d39\u7528\u5904\u7406\u548c\u5dee\u65c5\u89c4\u5212\u65b9\u9762\u7684\u53d1\u5c55\u53ef\u80fd\u4f1a\u589e\u5f3a\u5176\u7ade\u4e89\u4f18\u52bf\u548c\u5ba2\u6237\u91c7\u7528\u7387\u3002<br>  <\/li>\n\n\n\n<li><strong>\u8d44\u672c\u6d41\u5165\u3002<\/strong>\u5fb7\u56fd\u7684\u8d22\u653f\u523a\u6fc0\u548c\u56fd\u9632\u5f00\u652f\u7684\u589e\u52a0\uff0c\u63a8\u52a8\u4e86\u8d44\u672c\u6d41\u5165\u6b27\u6d32\u5e02\u573a\uff0c\u4ece\u800c\u63a8\u52a8\u4e86\u4ece\u7f8e\u56fd\u5230\u6b27\u6d32\u80a1\u7968\u7684\u8f6c\u53d8\u3002\u7531\u4e8e 60% \u7684\u6295\u8d44\u8005\u9884\u8ba1\u6b27\u6d32\u589e\u957f\u5c06\u66f4\u52a0\u5f3a\u52b2\uff0c\u91d1\u878d\u3001\u5de5\u4e1a\u548c\u5c0f\u76d8\u80a1\u7b49\u884c\u4e1a\u6b63\u5728\u83b7\u5f97\u52a8\u529b\uff0c\u5fb7\u56fd\u662f\u9996\u9009\u5e02\u573a\u3002\u968f\u7740\u6b27\u6d32\u7ecf\u6d4e\u7684\u8d70\u5f3a\uff0c\u4f01\u4e1a\u5c06\u52a0\u901f\u6570\u5b57\u5316\u8f6c\u578b\u3002SAP \u4f5c\u4e3a\u8be5\u5730\u533a\u9886\u5148\u7684\u4f01\u4e1a\u8f6f\u4ef6\u63d0\u4f9b\u5546\uff0c\u5b8c\u5168\u6709\u80fd\u529b\u5229\u7528\u4f01\u4e1a\u5728\u6280\u672f\u548c\u57fa\u4e8e\u4e91\u7684\u89e3\u51b3\u65b9\u6848\u65b9\u9762\u589e\u52a0\u7684\u6295\u8d44\u3002<br>  <\/li>\n\n\n\n<li><strong>24 \u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f 10.7% \u81f3 93.8 \u4ebf\u6b27\u5143\uff0c\u8d85\u51fa\u9884\u671f 2.4 \u4ebf\u6b27\u5143\u3002\u975e GAAP \u6bcf\u80a1\u6536\u76ca\u4e3a 1.40 \u6b27\u5143\uff0c\u6bd4\u9884\u671f\u4f4e 0.05 \u6b27\u5143\u3002\u8be5\u516c\u53f8\u5ba3\u5e03\u6bcf\u80a1\u5e74\u5ea6\u80a1\u606f\u4e3a 2.35 \u6b27\u5143\uff0c\u6bd4\u4e4b\u524d\u7684\u80a1\u606f 2.20 \u6b27\u5143\/\u80a1\u589e\u52a0\u4e86 6.8%\uff0c\u5c06\u4e8e 5 \u6708 16 \u65e5\u652f\u4ed8\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-white-tex-39.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-64581\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-39.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-blue-and-white-rectangular-object-with-white-tex-39-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1167\" height=\"591\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-23.jpeg\" alt=\"A graph showing a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-64582\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-23.jpeg 1167w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-23-300x152.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-23-1024x519.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/a-graph-showing-a-stock-market-ai-generated-conte-23-768x389.jpeg 768w\" sizes=\"(max-width: 1167px) 100vw, 1167px\" \/><\/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-64524-_Hlt181111973\"><\/a><a id=\"post-64524-_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-64524-_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-64524-27.png\" class=\"wp-image-64583\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-27.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-27-300x64.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-64524-28.png\" alt=\"\" class=\"wp-image-64584\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-28.png 618w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-28-300x62.png 300w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Add Jiangxi Copper Co Ltd. (358 HK) at HK$14.0, PICC Property & Casualty Co Ltd. (2328 HK) at HK$14.5. Cut loss on Nebius Group NV (NBIS US) at US$24.0.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-29.png\" alt=\"\" class=\"wp-image-64585\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-29.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-29-300x190.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/03\/word-image-64524-29-768x485.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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK)\uff1a\u9884\u8ba1\u4ea4\u6613\u6d3b\u52a8\u5c06\u589e\u52a0 (Source: Bloomberg) \u4e2d\u56fd\u4eba\u6c11\u4fdd\u9669(2328 HK)\uff1a\u53d7\u76ca\u4e8e\u5f3a\u52b2\u7684\u7535\u52a8\u6c7d\u8f66\u9500\u552e (Source: Bloomberg) DoorDash (DASH US)\uff1a\u9001\u9910\u670d\u52d9\u4fdd\u6301\u5f3a\u52b2 (Source: Bloomberg) SAP SE (SAP US)\uff1aSAP \u5236\u80dc (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: Add Jiangxi Copper [&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-64524","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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002 \u76c8\u5229\u524d\u666f\u63d0\u5347\u3002 \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002 \u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002 EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 \u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002 \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002 2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002 \u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 \u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002 \u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 \u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002 24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388\" \/>\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-28-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\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002 \u76c8\u5229\u524d\u666f\u63d0\u5347\u3002 \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002 \u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002 EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 \u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002 \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002 2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002 \u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 \u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002 \u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 \u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002 24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-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=\"2025-03-27T14:27:57+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-03-28T02:47:36+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002 \u76c8\u5229\u524d\u666f\u63d0\u5347\u3002 \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002 \u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002 EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 \u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002 \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002 2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002 \u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 \u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002 \u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 \u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002 24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388\" \/>\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-28-mar-2025-zh\\\/#blogposting\",\"name\":\"2025\\u5e743\\u670828\\u65e5: \\u5168\\u6c11\\u7259\\u533b (QNM SP), \\u9999\\u6e2f\\u4ea4\\u6613\\u53ca\\u7ed3\\u7b97\\u6240(388 HK), DoorDash (DASH US) \\u2022 KGI Singapore Research\",\"headline\":\"2025\\u5e743\\u670828\\u65e5: \\u5168\\u6c11\\u7259\\u533b (QNM SP), \\u9999\\u6e2f\\u4ea4\\u6613\\u53ca\\u7ed3\\u7b97\\u6240(388 HK), DoorDash (DASH 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\":\"2025-03-27T22:27:57+08:00\",\"dateModified\":\"2025-03-28T10:47:36+08:00\",\"inLanguage\":\"en-US\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-28-mar-2025-zh\\\/#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-28-mar-2025-zh\\\/#webpage\"},\"articleSection\":\"KGI Daily Trading Ideas (Chinese)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-28-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-28-mar-2025-zh\\\/#listItem\",\"name\":\"2025\\u5e743\\u670828\\u65e5: \\u5168\\u6c11\\u7259\\u533b (QNM SP), \\u9999\\u6e2f\\u4ea4\\u6613\\u53ca\\u7ed3\\u7b97\\u6240(388 HK), DoorDash (DASH 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-28-mar-2025-zh\\\/#listItem\",\"position\":3,\"name\":\"2025\\u5e743\\u670828\\u65e5: \\u5168\\u6c11\\u7259\\u533b (QNM SP), \\u9999\\u6e2f\\u4ea4\\u6613\\u53ca\\u7ed3\\u7b97\\u6240(388 HK), DoorDash (DASH 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-28-mar-2025-zh\\\/#organizationLogo\",\"width\":512,\"height\":512},\"image\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-28-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-28-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-28-mar-2025-zh\\\/#webpage\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-28-mar-2025-zh\\\/\",\"name\":\"2025\\u5e743\\u670828\\u65e5: \\u5168\\u6c11\\u7259\\u533b (QNM SP), \\u9999\\u6e2f\\u4ea4\\u6613\\u53ca\\u7ed3\\u7b97\\u6240(388 HK), DoorDash (DASH 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 \\u5168\\u6c11\\u7259\\u533b (QNM SP)\\uff1a\\u7b80\\u5316\\u4e1a\\u52a1\\u8fd0\\u8425 \\u4e70\\u5165\\uff1a\\u4e70\\u5165\\u4ef7\\uff1a0.285\\uff0c\\u76ee\\u6807\\u4ef7\\uff1a0.310\\uff0c\\u6b62\\u635f\\u4ef7\\uff1a0.270 \\u5168\\u6c11\\u7259\\u533b\\u96c6\\u56e2\\uff08\\u65b0\\u52a0\\u5761\\uff09\\u6709\\u9650\\u516c\\u53f8\\u8fd0\\u8425\\u7259\\u79d1\\u8bca\\u6240\\u3002 \\u516c\\u53f8\\u63d0\\u4f9b\\u7f8e\\u5bb9\\u7259\\u79d1\\u3001\\u513f\\u7ae5\\u7259\\u79d1\\u548c\\u666e\\u901a\\u7259\\u79d1\\u670d\\u52a1\\uff1b\\u5b89\\u88c5\\u7259\\u51a0\\u3001\\u5047\\u7259\\u548c\\u7259\\u5957\\uff1b\\u5e76\\u63d0\\u4f9b\\u7259\\u9f88\\u51fa\\u8840\\u6cbb\\u7597\\u3001\\u7259\\u9f88\\u624b\\u672f\\u548c\\u53e3\\u8154\\u624b\\u672f\\uff1b\\u4ee5\\u53ca\\u6cbb\\u7597\\u6253\\u9f3e\\u548c\\u78e8\\u7259\\u3002 \\u76c8\\u5229\\u524d\\u666f\\u63d0\\u5347\\u3002 \\u516c\\u53f8\\u76c8\\u5229\\u80fd\\u529b\\u663e\\u8457\\u63d0\\u9ad8\\uff0c2024\\u8d22\\u5e74\\u51c0\\u5229\\u6da6\\u7387\\uff08NPM\\uff09\\u589e\\u957f18.0%\\uff0c\\u8fbe\\u52301310\\u4e07\\u65b0\\u5143\\u3002\\u8fd9\\u5f97\\u76ca\\u4e8e\\u6210\\u672c\\u524a\\u51cf\\u4e3e\\u63aa\\uff0c\\u5305\\u62ec\\u5173\\u95ed\\u8868\\u73b0\\u4e0d\\u4f73\\u7684\\u8bca\\u6240\\uff0c\\u4ee5\\u53ca\\u57282024\\u5e749\\u6708\\u65b0\\u51a0\\u76f8\\u5173\\u4e1a\\u52a1\\u4e0b\\u6ed1\\u540e\\uff0c\\u9010\\u6b65\\u7ed3\\u675f\\u5176\\u533b\\u7597\\u5b9e\\u9a8c\\u5ba4\\u4e1a\\u52a1\\u3002\\u591a\\u4e2a\\u8d39\\u7528\\u7c7b\\u522b\\u540c\\u6bd4\\u4e0b\\u964d\\uff0c\\u53cd\\u6620\\u51fa\\u516c\\u53f8\\u6709\\u6548\\u7684\\u7cbe\\u7b80\\u63aa\\u65bd\\u3002\\u6211\\u4eec\\u9884\\u8ba1\\u8fd9\\u4e9b\\u6548\\u7387\\u63d0\\u5347\\u5c06\\u5ef6\\u7eed\\u5230\\u4e0b\\u4e00\\u4e2a\\u8d22\\u653f\\u5e74\\u5ea6\\uff0c\\u4fdd\\u6301\\u76c8\\u5229\\u80fd\\u529b\\u3002 \\u901a\\u8fc7\\u65b0\\u589e\\u4eba\\u5de5\\u667a\\u80fd\\u8bb8\\u53ef\\u8bc1\\u62d3\\u5c55\\u65b0\\u5e02\\u573a\\u3002 EM2AI\\u5df2\\u83b7\\u5f97\\u76d1\\u7ba1\\u8bb8\\u53ef\\uff0c\\u53ef\\u5728\\u6cf0\\u56fd\\u3001\\u83f2\\u5f8b\\u5bbe\\u3001\\u8d8a\\u5357\\u548c\\u5370\\u5ea6\\u5c3c\\u897f\\u4e9a\\u9500\\u552e\\u548c\\u5206\\u9500\\u5176\\u7259\\u79d1\\u4eba\\u5de5\\u667a\\u80fd\\u89e3\\u51b3\\u65b9\\u6848\\uff0c\\u4ece\\u800c\\u6269\\u5927\\u5176\\u5728\\u65b0\\u52a0\\u5761\\u548c\\u9a6c\\u6765\\u897f\\u4e9a\\u4ee5\\u5916\\u7684\\u4e1a\\u52a1\\u8303\\u56f4\\u3002\\u8fd9\\u4e9b\\u6279\\u51c6\\u4f7fEM2AI\\u80fd\\u591f\\u6269\\u5927\\u5176\\u5e02\\u573a\\u8986\\u76d6\\u8303\\u56f4\\uff0c\\u5e76\\u5229\\u7528\\u4e1c\\u5357\\u4e9a\\u5bf9\\u4eba\\u5de5\\u667a\\u80fd\\u9a71\\u52a8\\u7684\\u7259\\u79d1\\u89e3\\u51b3\\u65b9\\u6848\\u65e5\\u76ca\\u589e\\u957f\\u7684\\u9700\\u6c42\\u3002 \\u6218\\u7565\\u5408\\u4f5c\\u4ee5\\u6269\\u5927\\u533a\\u57df\\u5f71\\u54cd\\u529b\\u3002 \\u5728\\u6700\\u8fd1\\u83b7\\u5f97\\u8bb8\\u53ef\\u6279\\u51c6\\u540e\\uff0cEM2AI\\u79ef\\u6781\\u5bfb\\u6c42\\u5408\\u4f5c\\u4f19\\u4f34\\u5173\\u7cfb\\uff0c\\u4ee5\\u52a0\\u901f\\u5e02\\u573a\\u6269\\u5f20\\u3002\\u8be5\\u516c\\u53f8\\u5df2\\u4e0e\\u4e00\\u5bb6\\u6210\\u719f\\u7684\\u533a\\u57df\\u7259\\u79d1\\u89e3\\u51b3\\u65b9\\u6848\\u63d0\\u4f9b\\u5546\\u7b7e\\u7f72\\u8c05\\u89e3\\u5907\\u5fd8\\u5f55\\uff08MoU\\uff09\\uff0c\\u6388\\u4e88\\u8be5\\u5408\\u4f5c\\u4f19\\u4f34\\u5728\\u5176\\u5e73\\u53f0\\u4e0a\\u96c6\\u6210EM2AI\\u6280\\u672f\\u7684\\u8bb8\\u53ef\\u3002\\u6b64\\u6b21\\u5408\\u4f5c\\u7b26\\u5408\\u516c\\u53f8\\u6269\\u5927\\u4e1a\\u52a1\\u7f51\\u7edc\\u5e76\\u5de9\\u56fa\\u5176\\u5728\\u5173\\u952e\\u533a\\u57df\\u5e02\\u573a\\u8db3\\u8ff9\\u7684\\u6218\\u7565\\u3002\\u56e0\\u6b64\\uff0cEM2AI\\u73b0\\u5728\\u53ef\\u4ee5\\u5411\\u65b0\\u52a0\\u5761\\u3001\\u9a6c\\u6765\\u897f\\u4e9a\\u3001\\u6cf0\\u56fd\\u548c\\u8d8a\\u5357\\u76841100\\u591a\\u5bb6\\u8bca\\u6240\\u63d0\\u4f9b\\u5176\\u7259\\u79d1\\u4eba\\u5de5\\u667a\\u80fd\\u89e3\\u51b3\\u65b9\\u6848\\uff0c\\u4ece\\u800c\\u5de9\\u56fa\\u5176\\u589e\\u957f\\u8f68\\u8ff9\\uff0c\\u5e76\\u4e3a\\u80a1\\u4e1c\\u521b\\u9020\\u957f\\u671f\\u4ef7\\u503c\\u3002 2024\\u8d22\\u5e74\\u8d22\\u52a1\\u4e1a\\u7ee9\\u3002 \\u5168\\u6c11\\u7259\\u533b\\u96c6\\u56e2\\uff08\\u65b0\\u52a0\\u5761\\uff09\\u6709\\u9650\\u516c\\u53f8\\u516c\\u5e032024\\u8d22\\u5e74\\u6536\\u5165\\u4e3a1.807\\u4ebf\\u65b0\\u5143\\uff0c\\u540c\\u6bd4\\u4e0b\\u964d1.1%\\uff0c\\u800c2023\\u8d22\\u5e74\\u4e3a1.827\\u4ebf\\u65b0\\u5143\\uff0c\\u4e3b\\u8981\\u539f\\u56e0\\u662f\\u96c6\\u56e2\\u533b\\u7597\\u5b9e\\u9a8c\\u5ba4\\u4e1a\\u52a1\\u7684\\u7ec8\\u6b62\\u30022024\\u8d22\\u5e74\\u80a1\\u4e1c\\u5e94\\u5360\\u7a0e\\u540e\\u5229\\u6da6\\uff08PATMI\\uff09\\u540c\\u6bd4\\u589e\\u957f27.1%\\uff0c\\u8fbe\\u52301460\\u4e07\\u65b0\\u5143\\uff0c\\u800c2023\\u8d22\\u5e74\\u4e3a1150\\u4e07\\u65b0\\u5143\\u30022024\\u8d22\\u5e74\\u6bcf\\u80a1\\u6536\\u76ca\\uff08EPS\\uff09\\u4e0a\\u5347\\u81f31.55\\u65b0\\u52a0\\u5761\\u5206\\uff0c\\u800c2023\\u8d22\\u5e74\\u4e3a1.22\\u65b0\\u52a0\\u5761\\u5206\\u3002\\u96c6\\u56e2\\u8fd8\\u5ba3\\u5e03\\u8ba1\\u5212\\u8fdb\\u884c\\u9ad8\\u8fbe5000\\u4e07\\u80a1\\u666e\\u901a\\u80a1\\u7684\\u80a1\\u7968\\u56de\\u8d2d\\u3002 \\u6211\\u4eec\\u5bf9\\u57fa\\u672c\\u9762\\u7684\\u8bc4\\u7ea7\\u4e3a\\u4e70\\u5165\\uff0c\\u76ee\\u6807\\u4ef7\\u4e3a 0.35 \\u65b0\\u5143\\u3002\\u8bf7\\u5728\\u8fd9\\u91cc\\u9605\\u8bfb\\u62a5\\u544a\\u5168\\u6587\\u3002 \\u5e02\\u573a\\u5171\\u8bc6 (Source: Bloomberg) \\u7802\\u4e4b\\u8239\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258 (SASSR SP)\\uff1a\\u4e2d\\u56fd\\u7ecf\\u6d4e\\u7684\\u632f\\u5174 \\u91cd\\u7533\\u4e70\\u5165\\uff1a\\u4e70\\u5165\\u4ef7\\uff1a0.67\\uff0c\\u76ee\\u6807\\u4ef7\\uff1a0.73\\uff0c\\u6b62\\u635f\\u4ef7\\uff1a0.64 \\u7802\\u4e4b\\u8239\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258\\u662f\\u4e00\\u5bb6\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258\\u516c\\u53f8\\u3002\\u516c\\u53f8\\u6295\\u8d44\\u4e8e\\u591a\\u5143\\u5316\\u7684\\u96f6\\u552e\\u623f\\u5730\\u4ea7\\u8d44\\u4ea7\\u7ec4\\u5408\\u3002Sasseur\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258\\u670d\\u52a1\\u4e8e\\u4e9a\\u6d32\\u5ba2\\u6237\\u3002 \\u6295\\u8d44\\u7ec4\\u5408\\u5165\\u4f4f\\u7387\\u521b\\u5386\\u53f2\\u65b0\\u9ad8\\uff0c\\u79df\\u8d41\\u9700\\u6c42\\u4fdd\\u6301\\u5f39\\u6027\\u3002 \\u7802\\u4e4b\\u8239\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258\\u572824\\u8d22\\u5e74\\u7b2c\\u56db\\u5b63\\u5ea6\\u5b9e\\u73b0\\u4e8698.9%\\u7684\\u521b\\u7eaa\\u5f55\\u5165\\u4f4f\\u7387\\uff0c\\u663e\\u793a\\u51fa\\u5f3a\\u52b2\\u7684\\u79df\\u6237\\u9700\\u6c42\\u548c\\u6709\\u6548\\u7684\\u8d44\\u4ea7\\u7ba1\\u7406\\u3002\\u5c3d\\u7ba124\\u8d22\\u5e74\\u4e0b\\u534a\\u5e74\\u4ee5\\u4eba\\u6c11\\u5e01\\u8ba1\\u7b97\\u7684\\u5965\\u7279\\u83b1\\u65af\\u9500\\u552e\\u989d\\u540c\\u6bd4\\u4e0b\\u964d3.9%\\uff0c\\u4f46\\u623f\\u5730\\u4ea7\\u4fe1\\u6258\\u7ee7\\u7eed\\u4f18\\u5316\\u5176\\u79df\\u6237\\u7ec4\\u5408\\uff0c\\u4ee5\\u7ef4\\u6301\\u5ba2\\u6d41\\u91cf\\u5e76\\u63d0\\u9ad8\\u79df\\u91d1\\u6536\\u5165\\u3002 \\u6218\\u7565\\u6027\\u8d44\\u4ea7\\u63d0\\u5347\\u63a8\\u52a8\\u4ef7\\u503c\\u3002 \\u8fd1\\u671f\\u5728\\u6606\\u660e\\u548c\\u5408\\u80a5\\u5965\\u7279\\u83b1\\u65af\\u8fdb\\u884c\\u7684\\u8d44\\u4ea7\\u63d0\\u5347\\u4e3e\\u63aa\\uff08AEIs\\uff09\\uff0c\\u5305\\u62ec\\u6539\\u5584\\u96f6\\u552e\\u5e03\\u5c40\\u548c\\u589e\\u52a0\\u505c\\u8f66\\u4f4d\\uff0c\\u589e\\u5f3a\\u4e86\\u8d2d\\u7269\\u4f53\\u9a8c\\u5e76\\u589e\\u52a0\\u4e86\\u5ba2\\u6d41\\u91cf\\u3002\\u8ba1\\u5212\\u57282025-2027\\u5e74\\u95f4\\u5728\\u91cd\\u5e86\\u4e24\\u6c5f\\u5965\\u7279\\u83b1\\u65af\\u5b89\\u88c5\\u8282\\u80fd\\u7a7a\\u8c03\\u7cfb\\u7edf\\uff0c\\u9884\\u8ba1\\u5c06\\u63d0\\u9ad8\\u8fd0\\u8425\\u6548\\u7387\\u5e76\\u8282\\u7701\\u6210\\u672c\\u3002 \\u5728\\u4e2d\\u56fd\\u5965\\u7279\\u83b1\\u65af\\u8d2d\\u7269\\u4e2d\\u5fc3\\u884c\\u4e1a\\u4e2d\\u5360\\u636e\\u6709\\u5229\\u7684\\u5e02\\u573a\\u5730\\u4f4d\\u3002 \\u4e2d\\u56fd\\u8fd1\\u671f\\u91c7\\u53d6\\u7684\\u8d22\\u653f\\u523a\\u6fc0\\u63aa\\u65bd\\uff0c\\u5305\\u62ec\\u6269\\u5927\\u6d88\\u8d39\\u54c1\\u4ee5\\u65e7\\u6362\\u65b0\\u8ba1\\u5212\\u548c\\u589e\\u52a0\\u653f\\u5e9c\\u652f\\u51fa\\uff0c\\u65e8\\u5728\\u63d0\\u632f\\u56fd\\u5185\\u6d88\\u8d39\\u548c\\u7ecf\\u6d4e\\u589e\\u957f\\u3002\\u8fd9\\u4e9b\\u4e3e\\u63aa\\u9884\\u8ba1\\u5c06\\u589e\\u5f3a\\u6d88\\u8d39\\u8005\\u7684\\u8d2d\\u4e70\\u529b\\uff0c\\u4ece\\u800c\\u53ef\\u80fd\\u589e\\u52a0\\u96f6\\u552e\\u989d\\u3002\\u5bf9\\u4e8e\\u5728\\u4e2d\\u56fd\\u8fd0\\u8425\\u96f6\\u552e\\u5965\\u7279\\u83b1\\u65af\\u8d2d\\u7269\\u4e2d\\u5fc3\\u7684\\u7802\\u4e4b\\u8239\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258\\u800c\\u8a00\\uff0c\\u8fd9\\u4e9b\\u63aa\\u65bd\\u53ef\\u80fd\\u4f1a\\u8f6c\\u5316\\u4e3a\\u66f4\\u9ad8\\u7684\\u5ba2\\u6d41\\u91cf\\u548c\\u9500\\u552e\\u989d\\uff0c\\u4ece\\u800c\\u5bf9\\u79df\\u91d1\\u6536\\u5165\\u548c\\u6574\\u4f53\\u8d22\\u52a1\\u4e1a\\u7ee9\\u4ea7\\u751f\\u79ef\\u6781\\u5f71\\u54cd\\u3002\\u7136\\u800c\\uff0c\\u5b9e\\u9645\\u6548\\u76ca\\u5c06\\u53d6\\u51b3\\u4e8e\\u8fd9\\u4e9b\\u653f\\u7b56\\u7684\\u6709\\u6548\\u5b9e\\u65bd\\u548c\\u66f4\\u5e7f\\u6cdb\\u7684\\u7ecf\\u6d4e\\u73af\\u5883\\u3002 24\\u8d22\\u5e74\\u4e0b\\u534a\\u5e74\\u8d22\\u52a1\\u4e1a\\u7ee9\\u3002 \\u7802\\u4e4b\\u8239\\u623f\\u5730\\u4ea7\\u6295\\u8d44\\u4fe1\\u6258\\u7684EMA\\u79df\\u91d1\\u6536\\u5165\\u4fdd\\u6301\\u7a33\\u5b9a\\u5728\\u4eba\\u6c11\\u5e013.351\\u4ebf\\u5143\\uff0c\\u5c3d\\u7ba1\\u5b8f\\u89c2\\u7ecf\\u6d4e\\u9762\\u4e34\\u4e0d\\u5229\\u56e0\\u7d20\\uff0c\\u4ecd\\u5b9e\\u73b0\\u4e860.8%\\u7684\\u540c\\u6bd4\\u589e\\u957f\\u3002\\u4ee5\\u65b0\\u5143\\u8ba1\\u7b97\\uff0cEMA\\u79df\\u91d1\\u6536\\u5165\\u4e3a6220\\u4e07\\u65b0\\u5143\\uff0c\\u7531\\u4e8e\\u4e0d\\u5229\\u7684\\u5916\\u6c47\\u6c47\\u7387\\uff0c\\u540c\\u6bd4\\u7565\\u5fae\\u4e0b\\u964d0.2%\\u300224\\u8d22\\u5e74\\u4e0b\\u534a\\u5e74\\u7684\\u6bcf\\u5355\\u4f4d\\u53ef\\u5206\\u914d\\u6536\\u5165\\uff08DPU\\uff09\\u540c\\u6bd4\\u589e\\u957f0.1%\\u81f32.929\\u65b0\\u52a0\\u5761\\u5206\\uff0c\\u4e3b\\u8981\\u5f97\\u76ca\\u4e8e\\u6709\\u5f39\\u6027\\u7684EMA\\u79df\\u91d1\\u6536\\u5165\\u3002 \\u6211\\u4eec\\u5bf9\\u57fa\\u672c\\u9762\\u7684\\u8bc4\\u7ea7\\u4e3a\\u4e70\\u5165\\uff0c\\u76ee\\u6807\\u4ef7\\u4e3a 0.90 \\u65b0\\u5143\\u3002\\u8bf7\\u5728\\u8fd9\\u91cc\\u9605\\u8bfb\\u62a5\\u544a\\u5168\\u6587\\u3002 \\u5e02\\u573a\\u5171\\u8bc6 (Source: Bloomberg) \\u9999\\u6e2f\\u4ea4\\u6613\\u53ca\\u7ed3\\u7b97\\u6240(388\",\"inLanguage\":\"en-US\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-28-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-28-mar-2025-zh\\\/#mainImage\",\"width\":652,\"height\":385},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/kgi-daily-trading-ideas-28-mar-2025-zh\\\/#mainImage\"},\"datePublished\":\"2025-03-27T22:27:57+08:00\",\"dateModified\":\"2025-03-28T10:47:36+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\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002 \u76c8\u5229\u524d\u666f\u63d0\u5347\u3002 \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002 \u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002 EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 \u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002 \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002 2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002 \u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 \u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002 \u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 \u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002 24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388","canonical_url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-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-28-mar-2025-zh\/#blogposting","name":"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH US) \u2022 KGI Singapore Research","headline":"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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":"2025-03-27T22:27:57+08:00","dateModified":"2025-03-28T10:47:36+08:00","inLanguage":"en-US","mainEntityOfPage":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-mar-2025-zh\/#webpage"},"isPartOf":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-mar-2025-zh\/#webpage"},"articleSection":"KGI Daily Trading Ideas (Chinese)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-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-28-mar-2025-zh\/#listItem","name":"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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-28-mar-2025-zh\/#listItem","position":3,"name":"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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-28-mar-2025-zh\/#organizationLogo","width":512,"height":512},"image":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-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-28-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-28-mar-2025-zh\/#webpage","url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-mar-2025-zh\/","name":"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002 \u76c8\u5229\u524d\u666f\u63d0\u5347\u3002 \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002 \u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002 EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 \u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002 \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002 2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002 \u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 \u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002 \u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 \u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002 24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.kgieworld.sg\/research\/#website"},"breadcrumb":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-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-28-mar-2025-zh\/#mainImage","width":652,"height":385},"primaryImageOfPage":{"@id":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-mar-2025-zh\/#mainImage"},"datePublished":"2025-03-27T22:27:57+08:00","dateModified":"2025-03-28T10:47:36+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\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002 \u76c8\u5229\u524d\u666f\u63d0\u5347\u3002 \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002 \u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002 EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 \u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002 \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002 2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002 \u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 \u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002 \u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 \u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002 24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-28-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":"2025-03-27T14:27:57+00:00","article:modified_time":"2025-03-28T02:47:36+00:00","twitter:card":"summary","twitter:title":"2025\u5e743\u670828\u65e5: \u5168\u6c11\u7259\u533b (QNM SP), \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK), DoorDash (DASH 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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.285\uff0c\u76ee\u6807\u4ef7\uff1a0.310\uff0c\u6b62\u635f\u4ef7\uff1a0.270 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u8fd0\u8425\u7259\u79d1\u8bca\u6240\u3002 \u516c\u53f8\u63d0\u4f9b\u7f8e\u5bb9\u7259\u79d1\u3001\u513f\u7ae5\u7259\u79d1\u548c\u666e\u901a\u7259\u79d1\u670d\u52a1\uff1b\u5b89\u88c5\u7259\u51a0\u3001\u5047\u7259\u548c\u7259\u5957\uff1b\u5e76\u63d0\u4f9b\u7259\u9f88\u51fa\u8840\u6cbb\u7597\u3001\u7259\u9f88\u624b\u672f\u548c\u53e3\u8154\u624b\u672f\uff1b\u4ee5\u53ca\u6cbb\u7597\u6253\u9f3e\u548c\u78e8\u7259\u3002 \u76c8\u5229\u524d\u666f\u63d0\u5347\u3002 \u516c\u53f8\u76c8\u5229\u80fd\u529b\u663e\u8457\u63d0\u9ad8\uff0c2024\u8d22\u5e74\u51c0\u5229\u6da6\u7387\uff08NPM\uff09\u589e\u957f18.0%\uff0c\u8fbe\u52301310\u4e07\u65b0\u5143\u3002\u8fd9\u5f97\u76ca\u4e8e\u6210\u672c\u524a\u51cf\u4e3e\u63aa\uff0c\u5305\u62ec\u5173\u95ed\u8868\u73b0\u4e0d\u4f73\u7684\u8bca\u6240\uff0c\u4ee5\u53ca\u57282024\u5e749\u6708\u65b0\u51a0\u76f8\u5173\u4e1a\u52a1\u4e0b\u6ed1\u540e\uff0c\u9010\u6b65\u7ed3\u675f\u5176\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u3002\u591a\u4e2a\u8d39\u7528\u7c7b\u522b\u540c\u6bd4\u4e0b\u964d\uff0c\u53cd\u6620\u51fa\u516c\u53f8\u6709\u6548\u7684\u7cbe\u7b80\u63aa\u65bd\u3002\u6211\u4eec\u9884\u8ba1\u8fd9\u4e9b\u6548\u7387\u63d0\u5347\u5c06\u5ef6\u7eed\u5230\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff0c\u4fdd\u6301\u76c8\u5229\u80fd\u529b\u3002 \u901a\u8fc7\u65b0\u589e\u4eba\u5de5\u667a\u80fd\u8bb8\u53ef\u8bc1\u62d3\u5c55\u65b0\u5e02\u573a\u3002 EM2AI\u5df2\u83b7\u5f97\u76d1\u7ba1\u8bb8\u53ef\uff0c\u53ef\u5728\u6cf0\u56fd\u3001\u83f2\u5f8b\u5bbe\u3001\u8d8a\u5357\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552e\u548c\u5206\u9500\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u4ee5\u5916\u7684\u4e1a\u52a1\u8303\u56f4\u3002\u8fd9\u4e9b\u6279\u51c6\u4f7fEM2AI\u80fd\u591f\u6269\u5927\u5176\u5e02\u573a\u8986\u76d6\u8303\u56f4\uff0c\u5e76\u5229\u7528\u4e1c\u5357\u4e9a\u5bf9\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 \u6218\u7565\u5408\u4f5c\u4ee5\u6269\u5927\u533a\u57df\u5f71\u54cd\u529b\u3002 \u5728\u6700\u8fd1\u83b7\u5f97\u8bb8\u53ef\u6279\u51c6\u540e\uff0cEM2AI\u79ef\u6781\u5bfb\u6c42\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u4ee5\u52a0\u901f\u5e02\u573a\u6269\u5f20\u3002\u8be5\u516c\u53f8\u5df2\u4e0e\u4e00\u5bb6\u6210\u719f\u7684\u533a\u57df\u7259\u79d1\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u7b7e\u7f72\u8c05\u89e3\u5907\u5fd8\u5f55\uff08MoU\uff09\uff0c\u6388\u4e88\u8be5\u5408\u4f5c\u4f19\u4f34\u5728\u5176\u5e73\u53f0\u4e0a\u96c6\u6210EM2AI\u6280\u672f\u7684\u8bb8\u53ef\u3002\u6b64\u6b21\u5408\u4f5c\u7b26\u5408\u516c\u53f8\u6269\u5927\u4e1a\u52a1\u7f51\u7edc\u5e76\u5de9\u56fa\u5176\u5728\u5173\u952e\u533a\u57df\u5e02\u573a\u8db3\u8ff9\u7684\u6218\u7565\u3002\u56e0\u6b64\uff0cEM2AI\u73b0\u5728\u53ef\u4ee5\u5411\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u3001\u6cf0\u56fd\u548c\u8d8a\u5357\u76841100\u591a\u5bb6\u8bca\u6240\u63d0\u4f9b\u5176\u7259\u79d1\u4eba\u5de5\u667a\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u589e\u957f\u8f68\u8ff9\uff0c\u5e76\u4e3a\u80a1\u4e1c\u521b\u9020\u957f\u671f\u4ef7\u503c\u3002 2024\u8d22\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u5168\u6c11\u7259\u533b\u96c6\u56e2\uff08\u65b0\u52a0\u5761\uff09\u6709\u9650\u516c\u53f8\u516c\u5e032024\u8d22\u5e74\u6536\u5165\u4e3a1.807\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u4e0b\u964d1.1%\uff0c\u800c2023\u8d22\u5e74\u4e3a1.827\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u96c6\u56e2\u533b\u7597\u5b9e\u9a8c\u5ba4\u4e1a\u52a1\u7684\u7ec8\u6b62\u30022024\u8d22\u5e74\u80a1\u4e1c\u5e94\u5360\u7a0e\u540e\u5229\u6da6\uff08PATMI\uff09\u540c\u6bd4\u589e\u957f27.1%\uff0c\u8fbe\u52301460\u4e07\u65b0\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a1150\u4e07\u65b0\u5143\u30022024\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e0a\u5347\u81f31.55\u65b0\u52a0\u5761\u5206\uff0c\u800c2023\u8d22\u5e74\u4e3a1.22\u65b0\u52a0\u5761\u5206\u3002\u96c6\u56e2\u8fd8\u5ba3\u5e03\u8ba1\u5212\u8fdb\u884c\u9ad8\u8fbe5000\u4e07\u80a1\u666e\u901a\u80a1\u7684\u80a1\u7968\u56de\u8d2d\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.35 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.67\uff0c\u76ee\u6807\u4ef7\uff1a0.73\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u516c\u53f8\u3002\u516c\u53f8\u6295\u8d44\u4e8e\u591a\u5143\u5316\u7684\u96f6\u552e\u623f\u5730\u4ea7\u8d44\u4ea7\u7ec4\u5408\u3002Sasseur\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u670d\u52a1\u4e8e\u4e9a\u6d32\u5ba2\u6237\u3002 \u6295\u8d44\u7ec4\u5408\u5165\u4f4f\u7387\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u79df\u8d41\u9700\u6c42\u4fdd\u6301\u5f39\u6027\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u572824\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5b9e\u73b0\u4e8698.9%\u7684\u521b\u7eaa\u5f55\u5165\u4f4f\u7387\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u79df\u6237\u9700\u6c42\u548c\u6709\u6548\u7684\u8d44\u4ea7\u7ba1\u7406\u3002\u5c3d\u7ba124\u8d22\u5e74\u4e0b\u534a\u5e74\u4ee5\u4eba\u6c11\u5e01\u8ba1\u7b97\u7684\u5965\u7279\u83b1\u65af\u9500\u552e\u989d\u540c\u6bd4\u4e0b\u964d3.9%\uff0c\u4f46\u623f\u5730\u4ea7\u4fe1\u6258\u7ee7\u7eed\u4f18\u5316\u5176\u79df\u6237\u7ec4\u5408\uff0c\u4ee5\u7ef4\u6301\u5ba2\u6d41\u91cf\u5e76\u63d0\u9ad8\u79df\u91d1\u6536\u5165\u3002 \u6218\u7565\u6027\u8d44\u4ea7\u63d0\u5347\u63a8\u52a8\u4ef7\u503c\u3002 \u8fd1\u671f\u5728\u6606\u660e\u548c\u5408\u80a5\u5965\u7279\u83b1\u65af\u8fdb\u884c\u7684\u8d44\u4ea7\u63d0\u5347\u4e3e\u63aa\uff08AEIs\uff09\uff0c\u5305\u62ec\u6539\u5584\u96f6\u552e\u5e03\u5c40\u548c\u589e\u52a0\u505c\u8f66\u4f4d\uff0c\u589e\u5f3a\u4e86\u8d2d\u7269\u4f53\u9a8c\u5e76\u589e\u52a0\u4e86\u5ba2\u6d41\u91cf\u3002\u8ba1\u5212\u57282025-2027\u5e74\u95f4\u5728\u91cd\u5e86\u4e24\u6c5f\u5965\u7279\u83b1\u65af\u5b89\u88c5\u8282\u80fd\u7a7a\u8c03\u7cfb\u7edf\uff0c\u9884\u8ba1\u5c06\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u8282\u7701\u6210\u672c\u3002 \u5728\u4e2d\u56fd\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u884c\u4e1a\u4e2d\u5360\u636e\u6709\u5229\u7684\u5e02\u573a\u5730\u4f4d\u3002 \u4e2d\u56fd\u8fd1\u671f\u91c7\u53d6\u7684\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u5305\u62ec\u6269\u5927\u6d88\u8d39\u54c1\u4ee5\u65e7\u6362\u65b0\u8ba1\u5212\u548c\u589e\u52a0\u653f\u5e9c\u652f\u51fa\uff0c\u65e8\u5728\u63d0\u632f\u56fd\u5185\u6d88\u8d39\u548c\u7ecf\u6d4e\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u9884\u8ba1\u5c06\u589e\u5f3a\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u529b\uff0c\u4ece\u800c\u53ef\u80fd\u589e\u52a0\u96f6\u552e\u989d\u3002\u5bf9\u4e8e\u5728\u4e2d\u56fd\u8fd0\u8425\u96f6\u552e\u5965\u7279\u83b1\u65af\u8d2d\u7269\u4e2d\u5fc3\u7684\u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u800c\u8a00\uff0c\u8fd9\u4e9b\u63aa\u65bd\u53ef\u80fd\u4f1a\u8f6c\u5316\u4e3a\u66f4\u9ad8\u7684\u5ba2\u6d41\u91cf\u548c\u9500\u552e\u989d\uff0c\u4ece\u800c\u5bf9\u79df\u91d1\u6536\u5165\u548c\u6574\u4f53\u8d22\u52a1\u4e1a\u7ee9\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002\u7136\u800c\uff0c\u5b9e\u9645\u6548\u76ca\u5c06\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u653f\u7b56\u7684\u6709\u6548\u5b9e\u65bd\u548c\u66f4\u5e7f\u6cdb\u7684\u7ecf\u6d4e\u73af\u5883\u3002 24\u8d22\u5e74\u4e0b\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002 \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u7684EMA\u79df\u91d1\u6536\u5165\u4fdd\u6301\u7a33\u5b9a\u5728\u4eba\u6c11\u5e013.351\u4ebf\u5143\uff0c\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u9762\u4e34\u4e0d\u5229\u56e0\u7d20\uff0c\u4ecd\u5b9e\u73b0\u4e860.8%\u7684\u540c\u6bd4\u589e\u957f\u3002\u4ee5\u65b0\u5143\u8ba1\u7b97\uff0cEMA\u79df\u91d1\u6536\u5165\u4e3a6220\u4e07\u65b0\u5143\uff0c\u7531\u4e8e\u4e0d\u5229\u7684\u5916\u6c47\u6c47\u7387\uff0c\u540c\u6bd4\u7565\u5fae\u4e0b\u964d0.2%\u300224\u8d22\u5e74\u4e0b\u534a\u5e74\u7684\u6bcf\u5355\u4f4d\u53ef\u5206\u914d\u6536\u5165\uff08DPU\uff09\u540c\u6bd4\u589e\u957f0.1%\u81f32.929\u65b0\u52a0\u5761\u5206\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u6709\u5f39\u6027\u7684EMA\u79df\u91d1\u6536\u5165\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 0.90 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388","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":"64524","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":"2025-03-27 14:17:23","updated":"2025-06-07 03:12:16","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 \u5168\u6c11\u7259\u533b (QNM SP)\uff1a\u7b80\u5316\u4e1a\u52a1\u8fd0\u8425 (Source: Bloomberg) \u7802\u4e4b\u8239\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258 (SASSR SP)\uff1a\u4e2d\u56fd\u7ecf\u6d4e\u7684\u632f\u5174 (Source: Bloomberg) \u9999\u6e2f\u4ea4\u6613\u53ca\u7ed3\u7b97\u6240(388 HK)\uff1a\u9884\u8ba1\u4ea4\u6613\u6d3b\u52a8\u5c06\u589e\u52a0 (Source: Bloomberg) \u4e2d\u56fd\u4eba\u6c11\u4fdd\u9669(2328 HK)\uff1a\u53d7\u76ca\u4e8e\u5f3a\u52b2\u7684\u7535\u52a8\u6c7d\u8f66\u9500\u552e (Source: Bloomberg) DoorDash (DASH US)\uff1a\u9001\u9910\u670d\u52d9\u4fdd\u6301\u5f3a\u52b2 (Source: Bloomberg) SAP SE (SAP US)\uff1aSAP \u5236\u80dc (Source: Bloomberg) ^ Back To Top Trading Dashboard Update: Add Jiangxi Copper&hellip;","_links":{"self":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/64524","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=64524"}],"version-history":[{"count":2,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/64524\/revisions"}],"predecessor-version":[{"id":64628,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/64524\/revisions\/64628"}],"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=64524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/categories?post=64524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/tags?post=64524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}