{"id":68064,"date":"2025-05-22T19:18:32","date_gmt":"2025-05-22T11:18:32","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=68064"},"modified":"2025-05-23T10:21:16","modified_gmt":"2025-05-23T02:21:16","slug":"kgi-daily-trading-ideas-23-may-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-23-may-2025-zh\/","title":{"rendered":"2025\u5e745\u670823\u65e5: \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP), \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK), \u535a\u901a\u516c\u53f8 (AVGO US)"},"content":{"rendered":"\n<p class=\"has-cyan-bluish-gray-background-color has-background wp-block-paragraph\"><a href=\"#sg\">\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350<\/a> |<a href=\"#hk\"> \u9999\u6e2f\u80a1\u7968\u63a8\u8350<\/a> | <a href=\"#us\">\u7f8e\u80a1\u63a8\u8350<\/a> | <a href=\"http:\/\/sp\">\u884c\u4e1a\u677f\u5757\u8868\u73b0<\/a> | <a href=\"#td\"> \u4ea4\u6613\u9f99\u864e\u699c<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\" id=\"sp\"><img fetchpriority=\"high\" decoding=\"async\" width=\"829\" height=\"104\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259.png\" alt=\"\" class=\"wp-image-47866\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259.png 829w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/07\/word-image-259-768x96.png 768w\" sizes=\"(max-width: 829px) 100vw, 829px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-68064-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"941\" height=\"473\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-47.png\" alt=\"\" class=\"wp-image-68164\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-47.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-47-300x151.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-47-768x386.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=\"241\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-48.png\" alt=\"\" class=\"wp-image-68165\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-48.png 939w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-48-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-48-768x197.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=\"939\" height=\"289\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-49.png\" alt=\"\" class=\"wp-image-68166\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-49.png 939w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-49-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/image-49-768x236.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\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-4.png\" alt=\"\" class=\"wp-image-68101\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-4-300x64.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-68064-_qqv3rtx8nazp\"><\/a><a id=\"post-68064-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1916\" height=\"804\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-10.png\" alt=\"A screenshot of a phone\n\nAI-generated content may be incorrect.\" class=\"wp-image-68102\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-10.png 1916w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-10-300x126.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-10-1024x430.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-10-768x322.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-10-1536x645.png 1536w\" sizes=\"(max-width: 1916px) 100vw, 1916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-6.png\" alt=\"\" class=\"wp-image-68103\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-6-300x64.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-68064-_7c2gwybbbr90\"><\/a><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-68064-_9i0c554gtu0u\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-7.png\" class=\"wp-image-68104\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong><strong>\u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP)\uff1a\u5165\u5883\u65c5\u5ba2\u6fc0\u589e<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a7.00\uff0c\u76ee\u6807\u4ef7\uff1a7.50\uff0c\u6b62\u635f\u4ef7\uff1a6.75<\/strong><br>  <\/li>\n\n\n\n<li>\u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8\u63d0\u4f9b\u822a\u7a7a\u8fd0\u8f93\u3001\u5de5\u7a0b\u3001\u98de\u884c\u5458\u57f9\u8bad\u3001\u5305\u673a\u548c\u65c5\u6e38\u6279\u53d1\u670d\u52a1\u3002\u516c\u53f8\u7684\u822a\u7a7a\u4e1a\u52a1\u8986\u76d6\u4e9a\u6d32\u3001\u6b27\u6d32\u3001\u7f8e\u6d32\u3001\u5357\u592a\u5e73\u6d0b\u548c\u975e\u6d32\u3002<br>  <\/li>\n\n\n\n<li><strong>\u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u4fdd\u6301\u4f4e\u4f4d\u3002 \u9884\u8ba12025\u5e74\u822a\u7a7a\u71c3\u6cb9\u5e02\u573a\u5c06\u5ef6\u7eed\u81ea2024\u5e74\u5e95\u4ee5\u6765\u7684\u4f4e\u4ef7\u8d8b\u52bf\u3002\u56fd\u9645\u822a\u7a7a\u8fd0\u8f93\u534f\u4f1a (IATA) \u9884\u8ba1\u822a\u7a7a\u71c3\u6cb9\u7684\u5e73\u5747\u6210\u672c\u4e3a\u6bcf\u687687\u7f8e\u5143\uff08\u6bcf\u52a0\u4ed12.0714\u7f8e\u5143\uff09\uff0c\u71c3\u6cb9\u603b\u652f\u51fa\u9884\u8ba1\u5c06\u964d\u81f32,480\u4ebf\u7f8e\u5143\uff0c\u6bd42024\u5e74\u4f4e\u7ea65%\u3002\u5c3d\u7ba1\u70bc\u6cb9\u5382\u7684\u4e2d\u65ad\u53ef\u80fd\u4f1a\u77ed\u6682\u5f71\u54cd\u4ef7\u683c\uff0c\u4f46\u6574\u4f53\u4ef7\u683c\u7a33\u5b9a\u53ef\u671f\u3002\u6b64\u5916\uff0c\u71c3\u6cb9\u6210\u672c\u9884\u8ba1\u5c06\u5360\u822a\u7a7a\u516c\u53f8\u603b\u652f\u51fa\u768426.4%\uff0c\u4f4e\u4e8e2024\u5e74\u768428.4%\uff0c\u8fd9\u5c06\u6709\u52a9\u4e8e\u6539\u5584\u822a\u7a7a\u516c\u53f8\u7684\u76c8\u5229\u80fd\u529b\u3002\u622a\u81f32025\u5e745\u670816\u65e5\u7684\u4e00\u5468\uff0c\u5168\u7403\u822a\u7a7a\u71c3\u6cb9\u5e73\u5747\u4ef7\u683c\u8f83\u524d\u4e00\u5468\u4e0a\u6da85.1%\uff0c\u81f3\u6bcf\u687683.76\u7f8e\u5143\u3002<\/strong><br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u8d8b\u52bf <\/strong>\n  <img loading=\"lazy\" decoding=\"async\" width=\"1014\" height=\"390\" alt=\"A graph of a number of people\n\nAI-generated content may be incorrect.\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-a-number-of-people-ai-generated-conten-5.png\" class=\"wp-image-68105\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-a-number-of-people-ai-generated-conten-5.png 1014w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-a-number-of-people-ai-generated-conten-5-300x115.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-a-number-of-people-ai-generated-conten-5-768x295.png 768w\" sizes=\"(max-width: 1014px) 100vw, 1014px\" \/>\n<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>(Source: IATA)<\/strong>\n<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u65c5\u6e38\u4e1a\u9884\u671f\u589e\u957f\u3002<\/strong>\u968f\u7740\u8fd1\u671fBTS\u6210\u5458Jin\u5728\u65b0\u52a0\u5761\u56fd\u5bb6\u7f8e\u672f\u9986\u3001\u6ee8\u6d77\u6e7e\u82b1\u56ed\u548cGoldhill Plaza\u7b49\u5730\u62cd\u6444\u7684\u97f3\u4e50\u89c6\u9891\u53d1\u5e03\uff0c\u4ee5\u53ca\u65b0\u52a0\u5761\u65c5\u6e38\u5c40 (STB) \u7684\u5408\u4f5c\uff0c\u65b0\u52a0\u5761\u9884\u8ba1\u5c06\u8fce\u6765\u65c5\u6e38\u70ed\u6f6e\u3002\u5229\u7528K-pop\u7684\u5168\u7403\u4eba\u6c14\uff0c\u8be5\u89c6\u9891\u6709\u671b\u5438\u5f15\u66f4\u591a\u6e38\u5ba2\u524d\u5f80\u65b0\u52a0\u5761\u3002\u6b64\u5916\uff0cLady Gaga\u5728\u56fd\u5bb6\u4f53\u80b2\u573a\u7684\u4e9a\u6d32\u72ec\u5bb6\u6f14\u5531\u4f1a\u3001\u65b0\u52a0\u5761\u5927\u5956\u8d5b (Singapore Grand Prix)\u3001MICE\u6d3b\u52a8\u4ee5\u53ca\u5176\u4ed6\u552e\u7f44\u7684\u97f3\u4e50\u4f1a\u7b49\u91cd\u5927\u6d3b\u52a8\u5c06\u8fdb\u4e00\u6b65\u63a8\u52a8\u9152\u5e97\u548c\u96f6\u552e\u884c\u4e1a\u7684\u9700\u6c42\u3002STB\u4e0eWiggle Wiggle\u548cPop Mart International\u7b49\u5168\u7403\u54c1\u724c\u7684\u5408\u4f5c\u8ba1\u5212\uff0c\u9884\u8ba1\u5c06\u5438\u5f15\u66f4\u591a\u6e38\u5ba2\uff0c2025\u5e74\u65c5\u6e38\u6536\u5165\u9884\u8ba1\u4ecb\u4e8e290\u4ebf\u81f3305\u4ebf\u65b0\u5143\uff0c\u5165\u5883\u6e38\u5ba2\u4eba\u6570\u9884\u8ba1\u57281,700\u4e07\u81f31,850\u4e07\u4e4b\u95f4\u3002\u8fd9\u4e9b\u53d1\u5c55\u4e3a\u65b0\u52a0\u5761\u822a\u7a7a\u63d0\u4f9b\u4e86\u663e\u8457\u7684\u673a\u4f1a\uff0c\u7279\u522b\u662f\u5438\u5f15\u56fd\u9645\u5165\u5883\u65c5\u5ba2\u9700\u6c42\u7684\u589e\u957f\u3002<br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5b63\u8282\u6027\u56fe\u8868\u2013 SIA<\/strong> <br> <img loading=\"lazy\" decoding=\"async\" width=\"1591\" height=\"603\" class=\"wp-image-68106\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-video-game-ai-generated-content-1.png\" alt=\"A screenshot of a video game\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-video-game-ai-generated-content-1.png 1591w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-video-game-ai-generated-content-1-300x114.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-video-game-ai-generated-content-1-1024x388.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-video-game-ai-generated-content-1-768x291.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-video-game-ai-generated-content-1-1536x582.png 1536w\" sizes=\"(max-width: 1591px) 100vw, 1591px\" \/> <\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u65c5\u6e38\u65fa\u5b63\u5230\u6765\u3002<\/strong>\u968f\u7740\u5373\u5c06\u5230\u6765\u7684\u6691\u5047\uff0c\u9884\u8ba1\u5165\u5883\u548c\u51fa\u5883\u65c5\u6e38\u9700\u6c42\u5c06\u589e\u52a0\u3002\u8fd9\u4e00\u5b63\u8282\u6027\u65c5\u6e38\u9ad8\u5cf0\u53ef\u80fd\u4f1a\u901a\u8fc7\u589e\u52a0\u65c5\u5ba2\u6d41\u91cf\uff0c\u4fc3\u8fdb\u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8\u7684\u822a\u73ed\u9884\u8ba2\u548c\u670d\u52a1\u9700\u6c42\uff0c\u4e3a\u516c\u53f8\u5e26\u6765\u66f4\u9ad8\u6536\u5165\u5e76\u589e\u5f3a\u5176\u5168\u7403\u8fde\u901a\u6027\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u7ee9\u3002<\/strong>\u00a0\u6536\u5165\u540c\u6bd4\u589e\u957f2.8%\uff0c\u8fbe\u5230195\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u5168\u5e74\u822a\u7a7a\u65c5\u884c\u548c\u8d27\u8fd0\u9700\u6c42\u7684\u97e7\u6027\u3002\u516c\u53f8\u5b9e\u73b0\u521b\u7eaa\u5f55\u7684\u51c0\u5229\u6da628\u4ebf\u65b0\u5143\uff0c\u5176\u4e2d\u5305\u62ec\u6765\u81ea\u5370\u5ea6\u822a\u7a7a\u4e0eVistara\u5408\u5e76\u7684\u4e00\u6b21\u6027\u975e\u73b0\u91d1\u4f1a\u8ba1\u6536\u76ca11\u4ebf\u65b0\u5143\u3002\u516c\u53f8\u63d0\u8bae\u6d3e\u53d12024\/2025\u8d22\u5e74\u6bcf\u80a10.30\u65b0\u5143\u7684\u671f\u672b\u80a1\u606f\uff0c\u4f7f\u5168\u5e74\u80a1\u606f\u603b\u989d\u8fbe\u5230\u6bcf\u80a10.40\u65b0\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-68107\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-white-tex-13.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-white-tex-13.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-white-tex-13-300x64.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=\"1191\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-price-ai-generated-content-may-1.jpeg\" alt=\"A graph showing a price\n\nAI-generated content may be incorrect.\" class=\"wp-image-68108\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-price-ai-generated-content-may-1.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-price-ai-generated-content-may-1-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-price-ai-generated-content-may-1-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-price-ai-generated-content-may-1-768x384.jpeg 768w\" sizes=\"(max-width: 1191px) 100vw, 1191px\" \/><\/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\/05\/a-long-line-of-a-white-background-description-aut-18.png\" class=\"wp-image-68109\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-white-background-description-aut-18.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-white-background-description-aut-18-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure> <\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>\u80dc\u6377\u4f01\u4e1a (CENT SP)\uff1a\u5728\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u4e2d\u6301\u7eed\u5f3a\u52b2\u8868\u73b0<\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.30\uff0c\u76ee\u6807\u4ef7\uff1a1.40\uff0c\u6b62\u635f\u4ef7\uff1a1.25<\/strong><br>  <\/li>\n\n\n\n<li>\u80dc\u6377\u4f01\u4e1a\u4e13\u6ce8\u4e8e\u62e5\u6709\u548c\u7ecf\u8425\u5de5\u4eba\u548c\u5b66\u751f\u4f4f\u5bbf\u8d44\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\uff0c\u5b83\u662f\u65b0\u52a0\u5761\u6700\u5927\u7684\u9ad8\u54c1\u8d28\u5458\u5de5\u4f4f\u5bbf\u4e1a\u4e3b\u548c\u7ecf\u8425\u8005\u4e4b\u4e00\u3002\u6b64\u5916\uff0c\u8be5\u516c\u53f8\u8fd8\u7ba1\u7406\u7740\u65b0\u52a0\u5761\u3001\u6fb3\u5927\u5229\u4e9a\u3001\u82f1\u56fd\u548c\u7f8e\u56fd\u7684\u5b66\u751f\u4f4f\u5bbf\u7269\u4e1a\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6269\u5927\u5168\u7403\u5e03\u5c40\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0cCenturion\u8fd0\u8425\u4e8669,929\u4e2a\u5e8a\u4f4d\uff0c\u5206\u5e03\u572837\u4e2a\u8d44\u4ea7\u4e2d\uff0c\u7ba1\u7406\u8d44\u4ea7\u89c4\u6a21 (AUM) \u8fbe26\u4ebf\u65b0\u5143\u3002\u5de5\u4eba\u5bbf\u820d (PBWA) \u7684\u6536\u5165\u589e\u957f15%\uff0c\u8fbe\u52305,340\u4e07\u65b0\u5143\uff0c\u800c\u5b66\u751f\u5bbf\u820d (PBSA) \u7684\u6536\u5165\u5c0f\u5e45\u589e\u957f2%\uff0c\u81f31,500\u4e07\u65b0\u5143\u3002\u96c6\u56e2\u5728\u4e2d\u56fd\u7684\u65b0\u5efa\u79df\u8d41\u8d44\u4ea7 (Build-to-Rent) \u5df2\u5f00\u59cb\u8fd0\u8425\uff0c\u5165\u4f4f\u7387\u4e3a48%\uff0c\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u63d0\u5347\u3002Centurion\u6b63\u79ef\u6781\u6269\u5927\u5176\u4e1a\u52a1\u7248\u56fe\uff0c\u5305\u62ec\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u7684\u5bbf\u820d\u91cd\u5efa\u9879\u76ee\u4ee5\u53ca\u6fb3\u5927\u5229\u4e9a\u7684PBSA\u5f00\u53d1\u9879\u76ee\u3002\u5c3d\u7ba1\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u7684\u5165\u4f4f\u7387\u8f83\u4f4e\uff0c\u4f46\u516c\u53f8\u901a\u8fc7\u6218\u7565\u6027\u7ba1\u7406\u79df\u91d1\u548c\u5165\u4f4f\u7387\uff0c\u5bf9\u6301\u7eed\u4fdd\u6301\u4e1a\u7ee9\u5145\u6ee1\u4fe1\u5fc3\u3002<\/strong><br>  <\/li>\n\n\n\n<li><strong>\u63a2\u7d22REIT\u4e0a\u5e02\u3002<\/strong>Centurion\u6b63\u5728\u63a2\u7d22\u5c06\u6210\u719f\u5e02\u573a\uff08\u5982\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u548c\u82f1\u56fd\uff09\u7684\u7a33\u5b9aPBWA\u548cPBSA\u8d44\u4ea7\u7ec4\u6210REIT\uff08\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\uff09\u7684\u53ef\u80fd\u6027\u3002\u8fd9\u5c06\u6709\u52a9\u4e8e\u91ca\u653e\u8d44\u4ea7\u4ef7\u503c\u3001\u589e\u5f3a\u8d44\u672c\u5faa\u73af\uff0c\u5e76\u901a\u8fc7\u6f5c\u5728\u7684\u5b9e\u7269\u5206\u7ea2\uff0c\u4e3a\u80a1\u4e1c\u63d0\u4f9b\u7a33\u5b9a\u7684\u6536\u76ca\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u00a0\u6536\u5165\u540c\u6bd4\u589e\u957f13%\uff0c\u4ece2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846,110\u4e07\u65b0\u5143\u589e\u81f36,900\u4e07\u65b0\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6240\u6709PBSA\u548cPBWA\u8d44\u4ea7\u7684\u79df\u91d1\u4e0a\u8c03\u4ee5\u53ca\u65b0\u52a0\u5761\u548c\u82f1\u56fd\u7684\u5f3a\u52b2\u8d22\u52a1\u5165\u4f4f\u7387\uff0c\u4f46\u90e8\u5206\u88ab\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u8d44\u4ea7\u7684\u8f83\u4f4e\u5165\u4f4f\u7387\u6240\u62b5\u6d88\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 1.38 \u65b0\u5143\u3002\u8bf7\u5728<a href=\"https:\/\/www.kgieworld.sg\/research\/company-update-centurion-corp-ltd-cent-sp-ou8-si-4\/\">\u8fd9\u91cc<\/a>\u9605\u8bfb\u62a5\u544a\u5168\u6587<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-68110\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-25.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\/05\/a-blue-and-white-rectangular-box-with-white-text-25.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-25-300x64.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=\"1193\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-on-a-white-background-ai-generated-conten-6.jpeg\" alt=\"A graph on a white background\n\nAI-generated content may be incorrect.\" class=\"wp-image-68111\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-on-a-white-background-ai-generated-conten-6.jpeg 1193w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-on-a-white-background-ai-generated-conten-6-300x145.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-on-a-white-background-ai-generated-conten-6-1024x494.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-on-a-white-background-ai-generated-conten-6-768x370.jpeg 768w\" sizes=\"(max-width: 1193px) 100vw, 1193px\" \/><\/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\/05\/word-image-68064-15.png\" class=\"wp-image-68112\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-15.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-15-300x64.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-68064-_f3bvj0c8rd86\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-16.png\" class=\"wp-image-68113\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-16.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-16-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-68064-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK)\uff1a\u201c\u5e73\u4ef7\u201d\u7597\u6108\u65b9\u5f0f<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a157\uff0c\u76ee\u6807\u4ef7\uff1a179\uff0c\u6b62\u635f\u4ef7\uff1a146<\/strong><br>  <\/li>\n\n\n\n<li>\u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u62fc\u88c5\u73a9\u5177\u8bbe\u8ba1\u3001\u5f00\u53d1\u548c\u9500\u552e\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u516c\u53f8\u7684\u4e3b\u8981\u4ea7\u54c1\u5305\u62ec\u62fc\u88c5\u89d2\u8272\u73a9\u5177\u548c\u79ef\u6728\u7c7b\u73a9\u5177\u3002\u516c\u53f8\u81ea\u4e3b\u5f00\u53d1\u7684\u77e5\u8bc6\u4ea7\u6743 (IP) \u5305\u62ec\u201c\u9b54\u529b\u79ef\u6728\u201d\u548c\u201c\u82f1\u96c4\u65e0\u9650\u201d\uff0c\u6388\u6743IP\u5305\u62ec\u5965\u7279\u66fc\u3001\u53d8\u5f62\u91d1\u521a\u3001\u706b\u5f71\u5fcd\u8005\u3001\u6f2b\u5a01\u65e0\u9650\u4f20\u5947\u3001\u6f2b\u5a01\u5c0f\u8718\u86db\u4fa0\u3001\u795e\u5077\u5976\u7238\u3001\u5c0f\u7cbe\u7075\u7b49\u3002\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e2d\u56fd\u201c\u7269\u8d28\u7ecf\u6d4e\u201d\u7684\u5d1b\u8d77\u3002<\/strong>\u767e\u4e50\u96c6\u56e2\u987a\u5e94\u4e2d\u56fd\u201c\u7269\u8d28\u7ecf\u6d4e\u201d (Guzi Economy) \u7684\u589e\u957f\u8d8b\u52bf\uff0c\u53d7\u5230Z\u4e16\u4ee3\u548c\u5343\u79a7\u4e00\u4ee3\u4ee5\u60c5\u611f\u548c\u8eab\u4efd\u9a71\u52a8\u7684\u6d88\u8d39\u4e60\u60ef\u63a8\u52a8\u3002\u6d88\u8d39\u8005\u5bf9ACGNC\uff08\u52a8\u6f2b\u3001\u6f2b\u753b\u3001\u6e38\u620f\u3001\u5c0f\u8bf4\u3001\u89d2\u8272\u626e\u6f14\uff09\u4e3b\u9898\u6536\u85cf\u54c1\uff08\u5982\u76f2\u76d2\uff09\u7684\u9700\u6c42\u6fc0\u589e\uff0c\u5e74\u8f7b\u6d88\u8d39\u8005\u8d8a\u6765\u8d8a\u5c06\u8fd9\u4e9b\u5546\u54c1\u89c6\u4e3a\u81ea\u6211\u8868\u8fbe\u548c\u751f\u6d3b\u65b9\u5f0f\u7684\u8c61\u5f81\u3002\u901a\u8fc7\u5c06\u4ea7\u54c1\u5f00\u53d1\u548c\u54c1\u724c\u63a8\u5e7f\u4e0e\u6587\u5316\u8d8b\u52bf\u76f8\u7ed3\u5408\uff0c\u4ee5\u53ca\u8fdb\u4e00\u6b65\u6295\u8d44\u7814\u53d1\uff0c\u767e\u4e50\u96c6\u56e2\u6709\u671b\u5728\u56fd\u5185\u548c\u5168\u7403\u7684\u4e07\u4ebf\u89c4\u6a21\u884c\u4e1a\u4e2d\u4e0e\u6ce1\u6ce1\u739b\u7279\u7b49\u540c\u884c\u5171\u540c\u6210\u957f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u53ef\u6269\u5c55\u7684SKU\u589e\u957f\u7b56\u7565\u3002<\/strong>\u767e\u4e50\u96c6\u56e22024\u8d22\u5e74\u9500\u552e\u989d\u540c\u6bd4\u589e\u957f155.6%\uff0c\u4ece2023\u8d22\u5e74\u76848.767\u4ebf\u4eba\u6c11\u5e01\u589e\u81f322.409\u4ebf\u4eba\u6c11\u5e01\uff0c\u5f97\u76ca\u4e8e\u5f3a\u5927\u7684IP\u7ec4\u5408\u548cSKU\uff08\u5e93\u5b58\u5355\u4f4d\uff09\u6269\u5c55\u3002\u516c\u53f8\u62e5\u6709\u8d85\u8fc750\u4e2a\u6388\u6743IP\uff0c\u5e76\u8ba1\u5212\u57282025\u5e74\u63a8\u51fa800\u4e2a\u65b0SKU\u3002\u5176\u6218\u7565\u91cd\u70b9\u662f\u6269\u5927\u53d7\u4f17\u7fa4\u4f53\uff0c\u4ece\u513f\u7ae5\u5230\u6210\u5e74\u6536\u85cf\u5bb6\uff0c\u540c\u65f6\u901a\u8fc7\u5168\u6e20\u9053\u5206\u9500\u6a21\u5f0f\u548c\u5185\u5bb9\u9a71\u52a8\u8425\u9500\u6269\u5927\u56fd\u9645\u5f71\u54cd\u529b\u3002\u767e\u4e50\u96c6\u56e2\u5c06\u7ee7\u7eed\u63d0\u5347\u7814\u53d1\u548c\u5236\u9020\u80fd\u529b\uff0c\u4ee5\u63d0\u4f9b\u9ad8\u8d28\u91cf\u3001\u6587\u5316\u5951\u5408\u4e14\u4ef7\u683c\u5177\u6709\u7ade\u4e89\u529b\u7684\u62fc\u88c5\u89d2\u8272\u73a9\u5177\uff0c\u5438\u5f15\u4e0d\u540c\u5e74\u9f84\u548c\u5730\u533a\u7684\u6d88\u8d39\u8005\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u7ee9\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f155.6%\uff0c\u4ece2023\u8d22\u5e74\u76848.767\u4ebf\u4eba\u6c11\u5e01\u589e\u81f32024\u8d22\u5e74\u768422.409\u4ebf\u4eba\u6c11\u5e01\u3002\u6bdb\u5229\u6da6\u4ece2023\u8d22\u5e74\u76844.149\u4ebf\u4eba\u6c11\u5e01\u589e\u957f184.1%\uff0c\u8fbe\u523011.788\u4ebf\u4eba\u6c11\u5e01\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u62fc\u88c5\u89d2\u8272\u73a9\u5177\u9500\u552e\u6bdb\u5229\u6da6212.5%\u7684\u589e\u957f\uff0c\u4f46\u90e8\u5206\u88ab\u79ef\u6728\u7c7b\u73a9\u5177\u9500\u552e\u6bdb\u5229\u6da6\u4e0b\u964d64.6%\u6240\u62b5\u6d88\u30022024\u8d22\u5e74\u51c0\u4e8f\u635f\u4e3a3.98\u4ebf\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u589e\u52a091.8%\uff0c2023\u8d22\u5e74\u51c0\u4e8f\u635f\u4e3a2.075\u4ebf\u4eba\u6c11\u5e01\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-68114\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-26.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\/05\/a-blue-and-white-rectangular-box-with-white-text-26.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-26-300x64.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=\"1191\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-5.jpeg\" alt=\"A graph showing a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-68115\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-5.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-5-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-5-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-5-768x384.jpeg 768w\" sizes=\"(max-width: 1191px) 100vw, 1191px\" \/><\/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\/05\/word-image-68064-19.png\" class=\"wp-image-68116\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-19.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-19-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u6bd4\u4e9a\u8fea (1211 HK)\uff1a\u63d0\u5347\u5e02\u573a\u5360\u6709\u7387<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a425\uff0c\u76ee\u6807\u4ef7\uff1a485\uff0c\u6b62\u635f\u4ef7\uff1a395<\/strong><br>  <\/li>\n\n\n\n<li>\u6bd4\u4e9a\u8fea\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e2d\u56fd\u516c\u53f8\uff0c\u4e3b\u8981\u4ece\u4e8b\u4ea4\u901a\u8fd0\u8f93\u8bbe\u5907\u5236\u9020\u4e0e\u9500\u552e\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u8fd8\u4ece\u4e8b\u7535\u5b50\u5143\u5668\u4ef6\u548c\u65e5\u7528\u7535\u5b50\u5668\u4ef6\u5236\u9020\u4e0e\u9500\u552e\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u7684\u4ea7\u54c1\u5305\u62ec\u4e8c\u6b21\u5145\u7535\u7535\u6c60\u53ca\u5149\u4f0f\u4ea7\u54c1\u3001\u624b\u673a\u90e8\u4ef6\u53ca\u7ec4\u88c5\uff0c\u4ee5\u53ca\u6c7d\u8f66\u53ca\u76f8\u5173\u4ea7\u54c1\u7b49\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u4e8e\u4e2d\u56fd\u3001\u7f8e\u56fd\u53ca\u6b27\u6d32\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u62d3\u5c55\u6b27\u6d32\u5e02\u573a\u3002<\/strong>\u6bd4\u4e9a\u8fea\u8fd1\u65e5\u5ba3\u5e03\u5c06\u5728\u5308\u7259\u5229\u8bbe\u7acb\u6b27\u6d32\u603b\u90e8\uff0c\u8fdb\u4e00\u6b65\u5f70\u663e\u5176\u62d3\u5c55\u6b27\u6d32\u5e02\u573a\u7684\u6218\u7565\u51b3\u5fc3\u3002\u6839\u636e5\u670815\u65e5\u4e0e\u5308\u7259\u5229\u653f\u5e9c\u7b7e\u7f72\u7684\u6218\u7565\u5408\u4f5c\u534f\u8bae\uff0c\u516c\u53f8\u5c06\u628a\u6b27\u6d32\u603b\u90e8\u4ece\u8377\u5170\u8fc1\u81f3\u5308\u7259\u5229\u3002\u6bd4\u4e9a\u8fea\u5c06\u5728\u5e03\u8fbe\u4f69\u65af\u6295\u8d441,000\u4ebf\u5308\u7259\u5229\u798f\u6797\uff08\u7ea62.5\u4ebf\u6b27\u5143\uff09\u5efa\u8bbe\u4e1a\u52a1\u4e0e\u7814\u53d1\u4e2d\u5fc3\uff0c\u5308\u7259\u5229\u653f\u5e9c\u5c06\u63d0\u4f9b200\u4ebf\u798f\u6797\u7684\u8d22\u653f\u8865\u8d34\u3002\u8be5\u8ba1\u5212\u5c06\u542f\u52a8\u4e24\u9879\u91cd\u70b9\u9879\u76ee\uff1a\u4e00\u662f\u63a8\u52a8\u667a\u80fd\u6280\u672f\u5728\u73b0\u4ee3\u51fa\u884c\u89e3\u51b3\u65b9\u6848\u4e2d\u7684\u96c6\u6210\u5e94\u7528\uff0c\u4e8c\u662f\u5f00\u53d1\u4e0b\u4e00\u4ee3\u7535\u52a8\u51fa\u884c\u6280\u672f\u3002\u6b64\u4e3e\u4f53\u73b0\u4e86\u6bd4\u4e9a\u8fea\u6301\u7eed\u5f3a\u5316\u5176\u5728\u6b27\u6d32\u5e02\u573a\u5e03\u5c40\u7684\u52aa\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6bd4\u4e9a\u8fea\u6c7d\u8f66\u65e5\u76ca\u53d7\u6b22\u8fce\u3002<\/strong>\u6bd4\u4e9a\u8fea\u8fd1\u671f\u5728\u591a\u4e2a\u56fd\u9645\u5e02\u573a\u5b9e\u73b0\u663e\u8457\u9500\u91cf\u589e\u957f\uff0c\u6210\u4e3a\u591a\u4e2a\u56fd\u5bb6\u7684\u7545\u9500\u54c1\u724c\u3002\u6839\u636e\u653f\u5e9c\u6570\u636e\uff0c\u622a\u81f32025\u5e74\u521d\uff0c\u6bd4\u4e9a\u8fea\u9996\u6b21\u5728\u65b0\u52a0\u5761\u8d85\u8fc7\u4e30\u7530\uff0c\u6210\u4e3a\u5f53\u5730\u6700\u7545\u9500\u6c7d\u8f66\u54c1\u724c\uff0c\u51f8\u663e\u5176\u4f5c\u4e3a\u9886\u5148\u7535\u52a8\u8f66\uff08EV\uff09\u5236\u9020\u5546\u7684\u5438\u5f15\u529b\u30022025\u5e744\u6708\uff0c\u6bd4\u4e9a\u8fea\u5728\u897f\u73ed\u7259\u3001\u610f\u5927\u5229\u3001\u6cd5\u56fd\u3001\u82f1\u56fd\u548c\u5fb7\u56fd\u7b49\u6b27\u6d32\u4e3b\u8981\u6c7d\u8f66\u5e02\u573a\u7684\u9500\u91cf\u4e5f\u5168\u9762\u8d85\u8fc7\u7279\u65af\u62c9\u3002\u572814\u4e2a\u6b27\u6d32\u56fd\u5bb6\uff0c\u6bd4\u4e9a\u8fea\u9500\u91cf\u8fbe11,123\u8f86\uff0c\u8fdc\u9ad8\u4e8e\u7279\u65af\u62c9\u76846,253\u8f86\u3002\u5728\u6fb3\u5927\u5229\u4e9a\uff0c\u6bd4\u4e9a\u8feaSealion 7\u8d85\u8d8a\u7279\u65af\u62c9Model Y\uff0c\u6210\u4e3a\u8be5\u56fd\u6700\u7545\u9500\u7684\u7535\u52a8\u8f66\u3002\u6bd4\u4e9a\u8fea\u5728\u5168\u7403\u5e02\u573a\u4efd\u989d\u7684\u4e0d\u65ad\u6269\u5927\uff0c\u53cd\u6620\u51fa\u5176\u4ea7\u54c1\u65e5\u76ca\u53d7\u5230\u6d88\u8d39\u8005\u9752\u7750\uff0c\u4e5f\u5f70\u663e\u4e86\u516c\u53f8\u52a0\u901f\u5168\u7403\u7535\u52a8\u8f66\u4e1a\u52a1\u6269\u5f20\u7684\u6210\u529f\u6218\u7565\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5168\u65b0\u6bd4\u4e9a\u8feae7\u5373\u5c06\u4e0a\u5e02\u3002<\/strong>\u6bd4\u4e9a\u8fea\u5c06\u4e8e\u672c\u5468\u516d\u6b63\u5f0f\u53d1\u5e03\u5168\u65b0\u7eaf\u7535\u52a8\u8f7f\u8f66e7\uff0c\u76ee\u6807\u5e02\u573a\u805a\u7126\u5171\u4eab\u51fa\u884c\u4e0e\u51fa\u79df\u8f66\u670d\u52a1\u3002e7\u4e13\u4e3a\u5546\u4e1a\u7528\u9014\u6253\u9020\uff0c\u62e5\u67092,820\u6beb\u7c73\u7684\u957f\u8f74\u8ddd\uff0c\u642d\u8f7d\u4e00\u53f0100\u5343\u74e6\uff08134\u9a6c\u529b\uff09\u7535\u673a\uff0c\u6700\u9ad8\u65f6\u901f\u53ef\u8fbe150\u516c\u91cc\/\u5c0f\u65f6\u3002\u8be5\u8f66\u578b\u63d0\u4f9b48\u5343\u74e6\u65f6\u548c57.6\u5343\u74e6\u65f6\u4e24\u79cd\u7535\u6c60\u7248\u672c\uff0cCLTC\u7eed\u822a\u5206\u522b\u53ef\u8fbe450\u516c\u91cc\u548c520\u516c\u91cc\u3002\u51ed\u501f\u5bbd\u655e\u7684\u7a7a\u95f4\u548c\u5b9e\u7528\u7684\u7eed\u822a\u8868\u73b0\uff0ce7\u6709\u671b\u83b7\u5f97\u4f01\u4e1a\u5ba2\u6237\u4e0e\u8f66\u961f\u8fd0\u8425\u5546\u7684\u5e7f\u6cdb\u9752\u7750\uff0c\u8fdb\u4e00\u6b65\u63a8\u52a8\u6bd4\u4e9a\u8fea\u5728\u5546\u7528\u7535\u52a8\u8f66\u5e02\u573a\u7684\u589e\u957f\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u8d22\u62a5\u3002<\/strong>2025\u5e74\u7b2c\u4e00\u5b63\u8425\u4e1a\u6536\u5165\u540c\u6bd4\u589e\u957f36.4%\uff0c\u8fbe\u5230\u4eba\u6c11\u5e011,704\u4ebf\u5143\uff0c\u8f832024\u5e74\u7b2c\u4e00\u5b63\u7684\u4eba\u6c11\u5e011,249\u4ebf\u5143\u5927\u5e45\u63d0\u5347\u3002\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u51c0\u5229\u6da6\u4e3a\u4eba\u6c11\u5e0191.5\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f100.4%\uff0c\u8f832024\u5e74\u540c\u671f\u7684\u4eba\u6c11\u5e0145.7\u4ebf\u5143\u5b9e\u73b0\u7ffb\u756a\u3002\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4e3a\u4eba\u6c11\u5e013.12\u5143\uff0c\u9ad8\u4e8e2024\u5e74\u540c\u671f\u7684\u4eba\u6c11\u5e011.57\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-68117\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-numbers-16.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\/05\/a-blue-and-white-rectangular-object-with-numbers-16.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-numbers-16-300x64.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=\"1193\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-graph-ai-generated-content-may-3.jpeg\" alt=\"A graph showing a graph\n\nAI-generated content may be incorrect.\" class=\"wp-image-68118\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-graph-ai-generated-content-may-3.jpeg 1193w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-graph-ai-generated-content-may-3-300x145.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-graph-ai-generated-content-may-3-1024x494.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-graph-ai-generated-content-may-3-768x370.jpeg 768w\" sizes=\"(max-width: 1193px) 100vw, 1193px\" \/><\/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\/05\/word-image-68064-22.png\" alt=\"\" class=\"wp-image-68119\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-22.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-22-300x64.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-68064-_6xzuwbi3dcr\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"827\" height=\"105\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-23.png\" class=\"wp-image-68120\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-23.png 827w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-23-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-23-768x98.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u535a\u901a\u516c\u53f8 (AVGO US)\uff1a\u901a\u8fc7NVLink\u96c6\u6210\u63a8\u52a8\u53ef\u6269\u5c55AI<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a228 \u76ee\u6807\u4ef7\uff1a250 \u6b62\u635f\u4ef7\uff1a217<\/strong><br>  <\/li>\n\n\n\n<li>\u535a\u901a\u516c\u53f8\u8bbe\u8ba1\u3001\u5f00\u53d1\u5e76\u63d0\u4f9b\u534a\u5bfc\u4f53\u548c\u57fa\u7840\u8bbe\u65bd\u8f6f\u4ef6\u89e3\u51b3\u65b9\u6848\u3002\u516c\u53f8\u4ea7\u54c1\u5305\u62ec\u5b58\u50a8\u9002\u914d\u5668\u3001\u63a7\u5236\u5668\u3001\u7f51\u7edc\u5904\u7406\u5668\u3001\u8fd0\u52a8\u63a7\u5236\u7f16\u7801\u5668\u548c\u5149\u5b66\u4f20\u611f\u5668\uff0c\u4ee5\u53ca\u7528\u4e8e\u73b0\u4ee3\u5316\u3001\u4f18\u5316\u548c\u4fdd\u62a4\u590d\u6742\u6df7\u5408\u73af\u5883\u7684\u57fa\u7840\u8bbe\u65bd\u548c\u5b89\u5168\u8f6f\u4ef6\u3002\u535a\u901a\u4e3a\u5168\u7403\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>Nvidia\u7684NVLink\u878d\u5408\u5e26\u6765\u65b0\u673a\u9047\u3002<\/strong>Nvidia\u6700\u8fd1\u51b3\u5b9a\u5411\u7b2c\u4e09\u65b9\u5f00\u653e\u5176NVLink Fusion\u4e92\u8fde\u6280\u672f\uff0c\u5141\u8bb8\u535a\u901a\u7b49\u516c\u53f8\u65e0\u9700\u5927\u91cf\u5185\u90e8\u7814\u53d1\u6295\u8d44\uff0c\u5373\u53ef\u5c06\u5148\u8fdb\u7684\u82af\u7247\u95f4\u901a\u4fe1\u96c6\u6210\u5230\u4eba\u5de5\u667a\u80fd\u7cfb\u7edf\u4e2d\u3002\u8fd9\u4e00\u8f6c\u53d8\u4f7f\u9ad8\u901f\u8fde\u63a5\u66f4\u52a0\u666e\u53ca\uff0c\u52a0\u901f\u4e86\u590d\u6742\u591a\u82af\u7247\u4eba\u5de5\u667a\u80fd\u67b6\u6784\u7684\u91c7\u7528\u3002\u56e0\u6b64\uff0c\u535a\u901a\u6709\u671b\u53d7\u76ca\u4e8e\u5bf9\u5176\u7f51\u7edc\u548c\u4e92\u8fde\u89e3\u51b3\u65b9\u6848\u9700\u6c42\u7684\u589e\u52a0\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u5176\u5728\u53ef\u6269\u5c55\u4eba\u5de5\u667a\u80fd\u57fa\u7840\u8bbe\u65bd\u4e2d\u7684\u6838\u5fc3\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5171\u5c01\u88c5\u5149\u5b66\u6280\u672f\u7a81\u7834\u5f3a\u5316AI\u9886\u5bfc\u529b\u3002<\/strong>\u535a\u901a\u7b2c\u4e09\u4ee3200G\/\u901a\u9053\u5171\u5c01\u88c5\u5149\u5b66 (CPO) \u5e73\u53f0\u5b9e\u73b0\u4e86\u8d85\u8fc730%\u7684\u529f\u8017\u8282\u7701\uff0c\u5e76\u5f97\u5230\u5f3a\u5927\u751f\u6001\u7cfb\u7edf\u7684\u652f\u6301\uff0c\u6210\u4e3a\u4e0b\u4e00\u4ee3\u4eba\u5de5\u667a\u80fd\u6570\u636e\u4e2d\u5fc3\u8fde\u63a5\u7684\u57fa\u77f3\u3002\u51ed\u501f\u5ef6\u5c55\u81f3400G\/\u901a\u9053\u7684\u6280\u672f\u8def\u7ebf\u56fe\uff0c\u535a\u901a\u6709\u671b\u5f15\u9886\u5411\u9ad8\u5bc6\u5ea6\u3001\u8282\u80fd\u7684\u8d85\u5927\u89c4\u6a21\u7f51\u7edc\u8fc7\u6e21\uff0c\u8fd9\u5bf9\u4e8e\u5e94\u5bf9\u4eba\u5de5\u667a\u80fd\u5de5\u4f5c\u8d1f\u8f7d\u7684\u6307\u6570\u7ea7\u589e\u957f\u81f3\u5173\u91cd\u8981\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f24.7%\uff0c\u4ece2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684119.6\u4ebf\u7f8e\u5143\u589e\u81f3149.2\u4ebf\u7f8e\u5143\u3002\u975eGAAP\u6bcf\u80a1\u6536\u76ca\u4ece2024\u5e74\u76841.10\u7f8e\u5143\u589e\u81f31.60\u7f8e\u5143\u3002\u535a\u901a\u5ba3\u5e03\u5b63\u5ea6\u80a1\u606f\u4e3a\u6bcf\u80a10.59\u7f8e\u5143\u3002\u7b2c\u4e8c\u5b63\u5ea6\u9884\u8ba1\u6536\u5165\u7ea6\u4e3a149\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f19%\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\/05\/a-blue-and-white-rectangular-object-with-numbers-17.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-68121\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-numbers-17.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-numbers-17-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1191\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-5.jpeg\" alt=\"A graph of stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-68122\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-5.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-5-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-5-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-5-768x384.jpeg 768w\" sizes=\"(max-width: 1191px) 100vw, 1191px\" \/><\/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\/05\/a-long-line-of-a-flag-description-automatically-g-18.png\" class=\"wp-image-68123\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-flag-description-automatically-g-18.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-flag-description-automatically-g-18-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-flag-description-automatically-g-18-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Relx PLC. (RELX US)\uff1a\u4ece\u4e00\u7b14\u5927\u4ea4\u6613\u4e2d\u83b7\u76ca<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a54.2 \u76ee\u6807\u4ef7\uff1a59.0 \u6b62\u635f\u4ef7\uff1a51.8<\/strong><br>  <\/li>\n\n\n\n<li>Relx PLC \u662f\u4e00\u5bb6\u603b\u90e8\u4f4d\u4e8e\u82f1\u56fd\u4f26\u6566\u7684\u8de8\u56fd\u4fe1\u606f\u4e0e\u5206\u6790\u516c\u53f8\uff0c\u4e13\u4e3a\u4e13\u4e1a\u548c\u5546\u4e1a\u5ba2\u6237\u63d0\u4f9b\u57fa\u4e8e\u4fe1\u606f\u7684\u5206\u6790\u548c\u51b3\u7b56\u5de5\u5177\u3002\u8be5\u516c\u53f8\u524d\u8eab\u4e3a Reed Elsevier\uff0c\u4e8e2015\u5e74\u66f4\u540d\u4e3a Relx\u3002Relx \u7684\u4e1a\u52a1\u904d\u53ca\u5168\u7403 40 \u4e2a\u56fd\u5bb6\uff0c\u670d\u52a1\u8d85\u8fc7 180 \u4e2a\u56fd\u5bb6\u7684\u5ba2\u6237\u3002<br>  <\/li>\n\n\n\n<li><strong>AI \u9a71\u52a8\u7684\u4ea7\u54c1\u521b\u65b0\u3002<\/strong>Relx \u79ef\u6781\u5c06\u4eba\u5de5\u667a\u80fd\u5e94\u7528\u4e8e\u5176\u4ea7\u54c1\u7ebf\uff0c\u5982 Elsevier \u7684 ScienceDirect AI \u53ef\u5feb\u901f\u603b\u7ed3\u6570\u767e\u4e07\u7bc7\u7814\u7a76\u6587\u7ae0\uff0cLexis+AI \u5219\u534f\u52a9\u6cd5\u5f8b\u4e13\u4e1a\u4eba\u58eb\u8fdb\u884c\u6848\u4f8b\u6458\u8981\u4e0e\u6587\u4ef6\u8349\u62df\uff0c\u63d0\u5347\u7528\u6237\u6548\u7387\u3002<br>  <\/li>\n\n\n\n<li><strong>\u7a33\u5b9a\u7684\u8ba2\u9605\u6536\u5165\u6a21\u5f0f\u3002<\/strong>\u8be5\u516c\u53f8\u7ea6 54% \u7684\u8425\u6536\u6765\u81ea\u8ba2\u9605\u670d\u52a1\uff0c\u6db5\u76d6\u5b66\u672f\u51fa\u7248\u3001\u6cd5\u5f8b\u4fe1\u606f\u4e0e\u98ce\u9669\u5206\u6790\u7b49\u9886\u57df\uff0c\u63d0\u4f9b\u7a33\u5b9a\u7684\u73b0\u91d1\u6d41\u4e0e\u9ad8\u8fbe 34% \u7684\u5229\u6da6\u7387\u3002\u6cd5\u5f8b\u4e0e\u79d1\u5b66\u6280\u672f\u533b\u5b66\uff08STM\uff09\u90e8\u95e8\u8d21\u732e\u4e86\u96c6\u56e2\u8d85\u8fc7\u534a\u6570\u7684\u6536\u5165\uff0c\u800c\u8fd9\u4e24\u4e2a\u90e8\u95e8\u4e2d\uff0c\u4ec5\u7ea6 20% \u548c 25% \u7684\u6536\u5165\u6765\u81ea\u4e00\u6b21\u6027\u4ea4\u6613\uff0c\u5176\u4f59\u4e3a\u957f\u671f\u5408\u7ea6\u6216\u8ba2\u9605\u6a21\u5f0f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u79ef\u6781\u80a1\u7968\u56de\u8d2d\u3002<\/strong>\u8be5\u516c\u53f8\u4e8e 2024 \u5e74\u65a5\u8d44 10 \u4ebf\u82f1\u9551\u56de\u8d2d\u80a1\u7968\uff0c\u5e76\u8ba1\u5212\u5728 2025 \u5e74\u589e\u52a0\u81f3 15 \u4ebf\u82f1\u9551\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u7ee9\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f7%\uff0c\u4ece2023\u8d22\u5e74\u768491.61\u4ebf\u82f1\u9551\u589e\u81f394.34\u4ebf\u82f1\u9551\u3002\u8c03\u6574\u540e\u7684\u6bcf\u80a1\u6536\u76ca (EPS) \u589e\u957f5%\uff0c\u4ece114.0\u4fbf\u58eb\u589e\u81f3120.1\u4fbf\u58eb\uff08\u6309\u56fa\u5b9a\u6c47\u7387\u8ba1\u7b97\u589e\u957f9%\uff09\u3002RELX\u5ba3\u5e03\u6d3e\u53d1\u6bcf\u80a10.5586\u7f8e\u5143\u7684\u534a\u5e74\u80a1\u606f\uff0c\u5c06\u4e8e6\u670825\u65e5\u652f\u4ed8\u7ed9\u622a\u81f35\u67089\u65e5\u767b\u8bb0\u5728\u518c\u7684\u80a1\u4e1c\u3002\u516c\u53f8\u8fd8\u5ba3\u5e032025\u5e74\u5c06\u8fdb\u884c15\u4ebf\u82f1\u9551\u7684\u80a1\u7968\u56de\u8d2d\uff0c\u8d85\u51fa\u5e02\u573a\u9884\u671f\uff08\u5e02\u573a\u9884\u671f\u533a\u95f4\u4e3a10.5\u4ebf\u82f1\u9551\u81f314\u4ebf\u82f1\u9551\uff09\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\/05\/a-blue-and-white-rectangular-box-with-white-text-27.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-68124\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-27.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-27-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1209\" height=\"552\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-with-green-and-red-lines-ai-generated-con-16.jpeg\" alt=\"A graph with green and red lines\n\nAI-generated content may be incorrect.\" class=\"wp-image-68125\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-with-green-and-red-lines-ai-generated-con-16.jpeg 1209w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-with-green-and-red-lines-ai-generated-con-16-300x137.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-with-green-and-red-lines-ai-generated-con-16-1024x468.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-with-green-and-red-lines-ai-generated-con-16-768x351.jpeg 768w\" sizes=\"(max-width: 1209px) 100vw, 1209px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/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-68064-_va9jaog5jnw3\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-29.png\" class=\"wp-image-68126\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-29.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-29-300x64.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\/05\/word-image-68064-30.png\" alt=\"\" class=\"wp-image-68127\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-30.png 618w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68064-30-300x62.png 300w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Take profit on Xiaomi Corp (1810 HK) at HK$55. \n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"477\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-data-sheet-ai-generated-content-3.png\" alt=\"A screenshot of a data sheet\n\nAI-generated content may be incorrect.\" class=\"wp-image-68128\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-data-sheet-ai-generated-content-3.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-data-sheet-ai-generated-content-3-300x152.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-data-sheet-ai-generated-content-3-768x388.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 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP)\uff1a\u5165\u5883\u65c5\u5ba2\u6fc0\u589e \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u8d8b\u52bf (Source: IATA) \u5b63\u8282\u6027\u56fe\u8868\u2013 SIA (Source: Bloomberg) (Source: Bloomberg) \u80dc\u6377\u4f01\u4e1a (CENT SP)\uff1a\u5728\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u4e2d\u6301\u7eed\u5f3a\u52b2\u8868\u73b0 (Source: Bloomberg) \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK)\uff1a\u201c\u5e73\u4ef7\u201d\u7597\u6108\u65b9\u5f0f (Source: Bloomberg) \u6bd4\u4e9a\u8fea (1211 HK)\uff1a\u63d0\u5347\u5e02\u573a\u5360\u6709\u7387 (Source: Bloomberg) \u535a\u901a\u516c\u53f8 (AVGO US)\uff1a\u901a\u8fc7NVLink\u96c6\u6210\u63a8\u52a8\u53ef\u6269\u5c55AI (Source: Bloomberg) Relx PLC. (RELX US)\uff1a\u4ece\u4e00\u7b14\u5927\u4ea4\u6613\u4e2d\u83b7\u76ca (Source: Bloomberg) ^ Back [&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-68064","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 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP)\uff1a\u5165\u5883\u65c5\u5ba2\u6fc0\u589e 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\u9884\u8ba1\u822a\u7a7a\u71c3\u6cb9\u7684\u5e73\u5747\u6210\u672c\u4e3a\u6bcf\u687687\u7f8e\u5143\uff08\u6bcf\u52a0\u4ed12.0714\u7f8e\u5143\uff09\uff0c\u71c3\u6cb9\u603b\u652f\u51fa\u9884\u8ba1\u5c06\u964d\u81f32,480\u4ebf\u7f8e\u5143\uff0c\u6bd42024\u5e74\u4f4e\u7ea65%\u3002\u5c3d\u7ba1\u70bc\u6cb9\u5382\u7684\u4e2d\u65ad\u53ef\u80fd\u4f1a\u77ed\u6682\u5f71\u54cd\u4ef7\u683c\uff0c\u4f46\u6574\u4f53\u4ef7\u683c\u7a33\u5b9a\u53ef\u671f\u3002\u6b64\u5916\uff0c\u71c3\u6cb9\u6210\u672c\u9884\u8ba1\u5c06\u5360\u822a\u7a7a\u516c\u53f8\u603b\u652f\u51fa\u768426.4%\uff0c\u4f4e\u4e8e2024\u5e74\u768428.4%\uff0c\u8fd9\u5c06\u6709\u52a9\u4e8e\u6539\u5584\u822a\u7a7a\u516c\u53f8\u7684\u76c8\u5229\u80fd\u529b\u3002\u622a\u81f32025\u5e745\u670816\u65e5\u7684\u4e00\u5468\uff0c\u5168\u7403\u822a\u7a7a\u71c3\u6cb9\u5e73\u5747\u4ef7\u683c\u8f83\u524d\u4e00\u5468\u4e0a\u6da85.1%\uff0c\u81f3\u6bcf\u687683.76\u7f8e\u5143\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u8d8b\u52bf (Source: Bloomberg) 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and Wealth Management.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"2025\u5e745\u670823\u65e5: \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP), \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK), \u535a\u901a\u516c\u53f8 (AVGO 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 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP)\uff1a\u5165\u5883\u65c5\u5ba2\u6fc0\u589e \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a7.00\uff0c\u76ee\u6807\u4ef7\uff1a7.50\uff0c\u6b62\u635f\u4ef7\uff1a6.75 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8\u63d0\u4f9b\u822a\u7a7a\u8fd0\u8f93\u3001\u5de5\u7a0b\u3001\u98de\u884c\u5458\u57f9\u8bad\u3001\u5305\u673a\u548c\u65c5\u6e38\u6279\u53d1\u670d\u52a1\u3002\u516c\u53f8\u7684\u822a\u7a7a\u4e1a\u52a1\u8986\u76d6\u4e9a\u6d32\u3001\u6b27\u6d32\u3001\u7f8e\u6d32\u3001\u5357\u592a\u5e73\u6d0b\u548c\u975e\u6d32\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u4fdd\u6301\u4f4e\u4f4d\u3002 \u9884\u8ba12025\u5e74\u822a\u7a7a\u71c3\u6cb9\u5e02\u573a\u5c06\u5ef6\u7eed\u81ea2024\u5e74\u5e95\u4ee5\u6765\u7684\u4f4e\u4ef7\u8d8b\u52bf\u3002\u56fd\u9645\u822a\u7a7a\u8fd0\u8f93\u534f\u4f1a (IATA) \u9884\u8ba1\u822a\u7a7a\u71c3\u6cb9\u7684\u5e73\u5747\u6210\u672c\u4e3a\u6bcf\u687687\u7f8e\u5143\uff08\u6bcf\u52a0\u4ed12.0714\u7f8e\u5143\uff09\uff0c\u71c3\u6cb9\u603b\u652f\u51fa\u9884\u8ba1\u5c06\u964d\u81f32,480\u4ebf\u7f8e\u5143\uff0c\u6bd42024\u5e74\u4f4e\u7ea65%\u3002\u5c3d\u7ba1\u70bc\u6cb9\u5382\u7684\u4e2d\u65ad\u53ef\u80fd\u4f1a\u77ed\u6682\u5f71\u54cd\u4ef7\u683c\uff0c\u4f46\u6574\u4f53\u4ef7\u683c\u7a33\u5b9a\u53ef\u671f\u3002\u6b64\u5916\uff0c\u71c3\u6cb9\u6210\u672c\u9884\u8ba1\u5c06\u5360\u822a\u7a7a\u516c\u53f8\u603b\u652f\u51fa\u768426.4%\uff0c\u4f4e\u4e8e2024\u5e74\u768428.4%\uff0c\u8fd9\u5c06\u6709\u52a9\u4e8e\u6539\u5584\u822a\u7a7a\u516c\u53f8\u7684\u76c8\u5229\u80fd\u529b\u3002\u622a\u81f32025\u5e745\u670816\u65e5\u7684\u4e00\u5468\uff0c\u5168\u7403\u822a\u7a7a\u71c3\u6cb9\u5e73\u5747\u4ef7\u683c\u8f83\u524d\u4e00\u5468\u4e0a\u6da85.1%\uff0c\u81f3\u6bcf\u687683.76\u7f8e\u5143\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u8d8b\u52bf (Source: Bloomberg) \u80dc\u6377\u4f01\u4e1a (CENT SP)\uff1a\u5728\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u4e2d\u6301\u7eed\u5f3a\u52b2\u8868\u73b0 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.30\uff0c\u76ee\u6807\u4ef7\uff1a1.40\uff0c\u6b62\u635f\u4ef7\uff1a1.25 \u80dc\u6377\u4f01\u4e1a\u4e13\u6ce8\u4e8e\u62e5\u6709\u548c\u7ecf\u8425\u5de5\u4eba\u548c\u5b66\u751f\u4f4f\u5bbf\u8d44\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\uff0c\u5b83\u662f\u65b0\u52a0\u5761\u6700\u5927\u7684\u9ad8\u54c1\u8d28\u5458\u5de5\u4f4f\u5bbf\u4e1a\u4e3b\u548c\u7ecf\u8425\u8005\u4e4b\u4e00\u3002\u6b64\u5916\uff0c\u8be5\u516c\u53f8\u8fd8\u7ba1\u7406\u7740\u65b0\u52a0\u5761\u3001\u6fb3\u5927\u5229\u4e9a\u3001\u82f1\u56fd\u548c\u7f8e\u56fd\u7684\u5b66\u751f\u4f4f\u5bbf\u7269\u4e1a\u3002 \u6269\u5927\u5168\u7403\u5e03\u5c40\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0cCenturion\u8fd0\u8425\u4e8669,929\u4e2a\u5e8a\u4f4d\uff0c\u5206\u5e03\u572837\u4e2a\u8d44\u4ea7\u4e2d\uff0c\u7ba1\u7406\u8d44\u4ea7\u89c4\u6a21 (AUM) \u8fbe26\u4ebf\u65b0\u5143\u3002\u5de5\u4eba\u5bbf\u820d (PBWA) \u7684\u6536\u5165\u589e\u957f15%\uff0c\u8fbe\u52305,340\u4e07\u65b0\u5143\uff0c\u800c\u5b66\u751f\u5bbf\u820d (PBSA) \u7684\u6536\u5165\u5c0f\u5e45\u589e\u957f2%\uff0c\u81f31,500\u4e07\u65b0\u5143\u3002\u96c6\u56e2\u5728\u4e2d\u56fd\u7684\u65b0\u5efa\u79df\u8d41\u8d44\u4ea7 (Build-to-Rent) \u5df2\u5f00\u59cb\u8fd0\u8425\uff0c\u5165\u4f4f\u7387\u4e3a48%\uff0c\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u63d0\u5347\u3002Centurion\u6b63\u79ef\u6781\u6269\u5927\u5176\u4e1a\u52a1\u7248\u56fe\uff0c\u5305\u62ec\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u7684\u5bbf\u820d\u91cd\u5efa\u9879\u76ee\u4ee5\u53ca\u6fb3\u5927\u5229\u4e9a\u7684PBSA\u5f00\u53d1\u9879\u76ee\u3002\u5c3d\u7ba1\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u7684\u5165\u4f4f\u7387\u8f83\u4f4e\uff0c\u4f46\u516c\u53f8\u901a\u8fc7\u6218\u7565\u6027\u7ba1\u7406\u79df\u91d1\u548c\u5165\u4f4f\u7387\uff0c\u5bf9\u6301\u7eed\u4fdd\u6301\u4e1a\u7ee9\u5145\u6ee1\u4fe1\u5fc3\u3002 \u63a2\u7d22REIT\u4e0a\u5e02\u3002Centurion\u6b63\u5728\u63a2\u7d22\u5c06\u6210\u719f\u5e02\u573a\uff08\u5982\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u548c\u82f1\u56fd\uff09\u7684\u7a33\u5b9aPBWA\u548cPBSA\u8d44\u4ea7\u7ec4\u6210REIT\uff08\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\uff09\u7684\u53ef\u80fd\u6027\u3002\u8fd9\u5c06\u6709\u52a9\u4e8e\u91ca\u653e\u8d44\u4ea7\u4ef7\u503c\u3001\u589e\u5f3a\u8d44\u672c\u5faa\u73af\uff0c\u5e76\u901a\u8fc7\u6f5c\u5728\u7684\u5b9e\u7269\u5206\u7ea2\uff0c\u4e3a\u80a1\u4e1c\u63d0\u4f9b\u7a33\u5b9a\u7684\u6536\u76ca\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002 \u6536\u5165\u540c\u6bd4\u589e\u957f13%\uff0c\u4ece2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846,110\u4e07\u65b0\u5143\u589e\u81f36,900\u4e07\u65b0\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6240\u6709PBSA\u548cPBWA\u8d44\u4ea7\u7684\u79df\u91d1\u4e0a\u8c03\u4ee5\u53ca\u65b0\u52a0\u5761\u548c\u82f1\u56fd\u7684\u5f3a\u52b2\u8d22\u52a1\u5165\u4f4f\u7387\uff0c\u4f46\u90e8\u5206\u88ab\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u8d44\u4ea7\u7684\u8f83\u4f4e\u5165\u4f4f\u7387\u6240\u62b5\u6d88\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 1.38 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK)\uff1a\u201c\u5e73\u4ef7\u201d\u7597\u6108\u65b9\u5f0f \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a157\uff0c\u76ee\u6807\u4ef7\uff1a179\uff0c\u6b62\u635f\u4ef7\uff1a146 \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u62fc\u88c5\u73a9\u5177\u8bbe\u8ba1\u3001\u5f00\u53d1\u548c\u9500\u552e\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u516c\u53f8\u7684\u4e3b\u8981\u4ea7\u54c1\u5305\u62ec\u62fc\u88c5\u89d2\u8272\u73a9\u5177\u548c\u79ef\u6728\u7c7b\u73a9\u5177\u3002\u516c\u53f8\u81ea\u4e3b\u5f00\u53d1\u7684\u77e5\u8bc6\u4ea7\u6743\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-23-may-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=\"2025-05-22T11:18:32+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-05-23T02:21:16+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"2025\u5e745\u670823\u65e5: \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP), \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK), \u535a\u901a\u516c\u53f8 (AVGO US) \u2022 KGI Singapore Research\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP)\uff1a\u5165\u5883\u65c5\u5ba2\u6fc0\u589e \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a7.00\uff0c\u76ee\u6807\u4ef7\uff1a7.50\uff0c\u6b62\u635f\u4ef7\uff1a6.75 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8\u63d0\u4f9b\u822a\u7a7a\u8fd0\u8f93\u3001\u5de5\u7a0b\u3001\u98de\u884c\u5458\u57f9\u8bad\u3001\u5305\u673a\u548c\u65c5\u6e38\u6279\u53d1\u670d\u52a1\u3002\u516c\u53f8\u7684\u822a\u7a7a\u4e1a\u52a1\u8986\u76d6\u4e9a\u6d32\u3001\u6b27\u6d32\u3001\u7f8e\u6d32\u3001\u5357\u592a\u5e73\u6d0b\u548c\u975e\u6d32\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u4fdd\u6301\u4f4e\u4f4d\u3002 \u9884\u8ba12025\u5e74\u822a\u7a7a\u71c3\u6cb9\u5e02\u573a\u5c06\u5ef6\u7eed\u81ea2024\u5e74\u5e95\u4ee5\u6765\u7684\u4f4e\u4ef7\u8d8b\u52bf\u3002\u56fd\u9645\u822a\u7a7a\u8fd0\u8f93\u534f\u4f1a (IATA) \u9884\u8ba1\u822a\u7a7a\u71c3\u6cb9\u7684\u5e73\u5747\u6210\u672c\u4e3a\u6bcf\u687687\u7f8e\u5143\uff08\u6bcf\u52a0\u4ed12.0714\u7f8e\u5143\uff09\uff0c\u71c3\u6cb9\u603b\u652f\u51fa\u9884\u8ba1\u5c06\u964d\u81f32,480\u4ebf\u7f8e\u5143\uff0c\u6bd42024\u5e74\u4f4e\u7ea65%\u3002\u5c3d\u7ba1\u70bc\u6cb9\u5382\u7684\u4e2d\u65ad\u53ef\u80fd\u4f1a\u77ed\u6682\u5f71\u54cd\u4ef7\u683c\uff0c\u4f46\u6574\u4f53\u4ef7\u683c\u7a33\u5b9a\u53ef\u671f\u3002\u6b64\u5916\uff0c\u71c3\u6cb9\u6210\u672c\u9884\u8ba1\u5c06\u5360\u822a\u7a7a\u516c\u53f8\u603b\u652f\u51fa\u768426.4%\uff0c\u4f4e\u4e8e2024\u5e74\u768428.4%\uff0c\u8fd9\u5c06\u6709\u52a9\u4e8e\u6539\u5584\u822a\u7a7a\u516c\u53f8\u7684\u76c8\u5229\u80fd\u529b\u3002\u622a\u81f32025\u5e745\u670816\u65e5\u7684\u4e00\u5468\uff0c\u5168\u7403\u822a\u7a7a\u71c3\u6cb9\u5e73\u5747\u4ef7\u683c\u8f83\u524d\u4e00\u5468\u4e0a\u6da85.1%\uff0c\u81f3\u6bcf\u687683.76\u7f8e\u5143\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u8d8b\u52bf (Source: Bloomberg) \u80dc\u6377\u4f01\u4e1a (CENT SP)\uff1a\u5728\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u4e2d\u6301\u7eed\u5f3a\u52b2\u8868\u73b0 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.30\uff0c\u76ee\u6807\u4ef7\uff1a1.40\uff0c\u6b62\u635f\u4ef7\uff1a1.25 \u80dc\u6377\u4f01\u4e1a\u4e13\u6ce8\u4e8e\u62e5\u6709\u548c\u7ecf\u8425\u5de5\u4eba\u548c\u5b66\u751f\u4f4f\u5bbf\u8d44\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\uff0c\u5b83\u662f\u65b0\u52a0\u5761\u6700\u5927\u7684\u9ad8\u54c1\u8d28\u5458\u5de5\u4f4f\u5bbf\u4e1a\u4e3b\u548c\u7ecf\u8425\u8005\u4e4b\u4e00\u3002\u6b64\u5916\uff0c\u8be5\u516c\u53f8\u8fd8\u7ba1\u7406\u7740\u65b0\u52a0\u5761\u3001\u6fb3\u5927\u5229\u4e9a\u3001\u82f1\u56fd\u548c\u7f8e\u56fd\u7684\u5b66\u751f\u4f4f\u5bbf\u7269\u4e1a\u3002 \u6269\u5927\u5168\u7403\u5e03\u5c40\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0cCenturion\u8fd0\u8425\u4e8669,929\u4e2a\u5e8a\u4f4d\uff0c\u5206\u5e03\u572837\u4e2a\u8d44\u4ea7\u4e2d\uff0c\u7ba1\u7406\u8d44\u4ea7\u89c4\u6a21 (AUM) \u8fbe26\u4ebf\u65b0\u5143\u3002\u5de5\u4eba\u5bbf\u820d (PBWA) \u7684\u6536\u5165\u589e\u957f15%\uff0c\u8fbe\u52305,340\u4e07\u65b0\u5143\uff0c\u800c\u5b66\u751f\u5bbf\u820d (PBSA) \u7684\u6536\u5165\u5c0f\u5e45\u589e\u957f2%\uff0c\u81f31,500\u4e07\u65b0\u5143\u3002\u96c6\u56e2\u5728\u4e2d\u56fd\u7684\u65b0\u5efa\u79df\u8d41\u8d44\u4ea7 (Build-to-Rent) \u5df2\u5f00\u59cb\u8fd0\u8425\uff0c\u5165\u4f4f\u7387\u4e3a48%\uff0c\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u63d0\u5347\u3002Centurion\u6b63\u79ef\u6781\u6269\u5927\u5176\u4e1a\u52a1\u7248\u56fe\uff0c\u5305\u62ec\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u7684\u5bbf\u820d\u91cd\u5efa\u9879\u76ee\u4ee5\u53ca\u6fb3\u5927\u5229\u4e9a\u7684PBSA\u5f00\u53d1\u9879\u76ee\u3002\u5c3d\u7ba1\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u7684\u5165\u4f4f\u7387\u8f83\u4f4e\uff0c\u4f46\u516c\u53f8\u901a\u8fc7\u6218\u7565\u6027\u7ba1\u7406\u79df\u91d1\u548c\u5165\u4f4f\u7387\uff0c\u5bf9\u6301\u7eed\u4fdd\u6301\u4e1a\u7ee9\u5145\u6ee1\u4fe1\u5fc3\u3002 \u63a2\u7d22REIT\u4e0a\u5e02\u3002Centurion\u6b63\u5728\u63a2\u7d22\u5c06\u6210\u719f\u5e02\u573a\uff08\u5982\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u548c\u82f1\u56fd\uff09\u7684\u7a33\u5b9aPBWA\u548cPBSA\u8d44\u4ea7\u7ec4\u6210REIT\uff08\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\uff09\u7684\u53ef\u80fd\u6027\u3002\u8fd9\u5c06\u6709\u52a9\u4e8e\u91ca\u653e\u8d44\u4ea7\u4ef7\u503c\u3001\u589e\u5f3a\u8d44\u672c\u5faa\u73af\uff0c\u5e76\u901a\u8fc7\u6f5c\u5728\u7684\u5b9e\u7269\u5206\u7ea2\uff0c\u4e3a\u80a1\u4e1c\u63d0\u4f9b\u7a33\u5b9a\u7684\u6536\u76ca\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002 \u6536\u5165\u540c\u6bd4\u589e\u957f13%\uff0c\u4ece2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846,110\u4e07\u65b0\u5143\u589e\u81f36,900\u4e07\u65b0\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6240\u6709PBSA\u548cPBWA\u8d44\u4ea7\u7684\u79df\u91d1\u4e0a\u8c03\u4ee5\u53ca\u65b0\u52a0\u5761\u548c\u82f1\u56fd\u7684\u5f3a\u52b2\u8d22\u52a1\u5165\u4f4f\u7387\uff0c\u4f46\u90e8\u5206\u88ab\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u8d44\u4ea7\u7684\u8f83\u4f4e\u5165\u4f4f\u7387\u6240\u62b5\u6d88\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 1.38 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK)\uff1a\u201c\u5e73\u4ef7\u201d\u7597\u6108\u65b9\u5f0f \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a157\uff0c\u76ee\u6807\u4ef7\uff1a179\uff0c\u6b62\u635f\u4ef7\uff1a146 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\\u884c\\u4e1a\\u677f\\u5757\\u8868\\u73b0 | \\u4ea4\\u6613\\u9f99\\u864e\\u699c \\u7f8e\\u56fd \\u9999\\u6e2f ^ Back To Top \\u65b0\\u52a0\\u5761\\u822a\\u7a7a\\u516c\\u53f8 (SIA SP)\\uff1a\\u5165\\u5883\\u65c5\\u5ba2\\u6fc0\\u589e \\u4e70\\u5165\\uff1a\\u4e70\\u5165\\u4ef7\\uff1a7.00\\uff0c\\u76ee\\u6807\\u4ef7\\uff1a7.50\\uff0c\\u6b62\\u635f\\u4ef7\\uff1a6.75 \\u65b0\\u52a0\\u5761\\u822a\\u7a7a\\u516c\\u53f8\\u63d0\\u4f9b\\u822a\\u7a7a\\u8fd0\\u8f93\\u3001\\u5de5\\u7a0b\\u3001\\u98de\\u884c\\u5458\\u57f9\\u8bad\\u3001\\u5305\\u673a\\u548c\\u65c5\\u6e38\\u6279\\u53d1\\u670d\\u52a1\\u3002\\u516c\\u53f8\\u7684\\u822a\\u7a7a\\u4e1a\\u52a1\\u8986\\u76d6\\u4e9a\\u6d32\\u3001\\u6b27\\u6d32\\u3001\\u7f8e\\u6d32\\u3001\\u5357\\u592a\\u5e73\\u6d0b\\u548c\\u975e\\u6d32\\u3002 \\u822a\\u7a7a\\u71c3\\u6cb9\\u4ef7\\u683c\\u4fdd\\u6301\\u4f4e\\u4f4d\\u3002 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\\u9884\\u8ba1\\u822a\\u7a7a\\u71c3\\u6cb9\\u7684\\u5e73\\u5747\\u6210\\u672c\\u4e3a\\u6bcf\\u687687\\u7f8e\\u5143\\uff08\\u6bcf\\u52a0\\u4ed12.0714\\u7f8e\\u5143\\uff09\\uff0c\\u71c3\\u6cb9\\u603b\\u652f\\u51fa\\u9884\\u8ba1\\u5c06\\u964d\\u81f32,480\\u4ebf\\u7f8e\\u5143\\uff0c\\u6bd42024\\u5e74\\u4f4e\\u7ea65%\\u3002\\u5c3d\\u7ba1\\u70bc\\u6cb9\\u5382\\u7684\\u4e2d\\u65ad\\u53ef\\u80fd\\u4f1a\\u77ed\\u6682\\u5f71\\u54cd\\u4ef7\\u683c\\uff0c\\u4f46\\u6574\\u4f53\\u4ef7\\u683c\\u7a33\\u5b9a\\u53ef\\u671f\\u3002\\u6b64\\u5916\\uff0c\\u71c3\\u6cb9\\u6210\\u672c\\u9884\\u8ba1\\u5c06\\u5360\\u822a\\u7a7a\\u516c\\u53f8\\u603b\\u652f\\u51fa\\u768426.4%\\uff0c\\u4f4e\\u4e8e2024\\u5e74\\u768428.4%\\uff0c\\u8fd9\\u5c06\\u6709\\u52a9\\u4e8e\\u6539\\u5584\\u822a\\u7a7a\\u516c\\u53f8\\u7684\\u76c8\\u5229\\u80fd\\u529b\\u3002\\u622a\\u81f32025\\u5e745\\u670816\\u65e5\\u7684\\u4e00\\u5468\\uff0c\\u5168\\u7403\\u822a\\u7a7a\\u71c3\\u6cb9\\u5e73\\u5747\\u4ef7\\u683c\\u8f83\\u524d\\u4e00\\u5468\\u4e0a\\u6da85.1%\\uff0c\\u81f3\\u6bcf\\u687683.76\\u7f8e\\u5143\\u3002 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\u80dc\u6377\u4f01\u4e1a (CENT SP)\uff1a\u5728\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u4e2d\u6301\u7eed\u5f3a\u52b2\u8868\u73b0 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.30\uff0c\u76ee\u6807\u4ef7\uff1a1.40\uff0c\u6b62\u635f\u4ef7\uff1a1.25 \u80dc\u6377\u4f01\u4e1a\u4e13\u6ce8\u4e8e\u62e5\u6709\u548c\u7ecf\u8425\u5de5\u4eba\u548c\u5b66\u751f\u4f4f\u5bbf\u8d44\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\uff0c\u5b83\u662f\u65b0\u52a0\u5761\u6700\u5927\u7684\u9ad8\u54c1\u8d28\u5458\u5de5\u4f4f\u5bbf\u4e1a\u4e3b\u548c\u7ecf\u8425\u8005\u4e4b\u4e00\u3002\u6b64\u5916\uff0c\u8be5\u516c\u53f8\u8fd8\u7ba1\u7406\u7740\u65b0\u52a0\u5761\u3001\u6fb3\u5927\u5229\u4e9a\u3001\u82f1\u56fd\u548c\u7f8e\u56fd\u7684\u5b66\u751f\u4f4f\u5bbf\u7269\u4e1a\u3002 \u6269\u5927\u5168\u7403\u5e03\u5c40\u3002 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\u80dc\u6377\u4f01\u4e1a (CENT SP)\uff1a\u5728\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u4e2d\u6301\u7eed\u5f3a\u52b2\u8868\u73b0 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.30\uff0c\u76ee\u6807\u4ef7\uff1a1.40\uff0c\u6b62\u635f\u4ef7\uff1a1.25 \u80dc\u6377\u4f01\u4e1a\u4e13\u6ce8\u4e8e\u62e5\u6709\u548c\u7ecf\u8425\u5de5\u4eba\u548c\u5b66\u751f\u4f4f\u5bbf\u8d44\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\uff0c\u5b83\u662f\u65b0\u52a0\u5761\u6700\u5927\u7684\u9ad8\u54c1\u8d28\u5458\u5de5\u4f4f\u5bbf\u4e1a\u4e3b\u548c\u7ecf\u8425\u8005\u4e4b\u4e00\u3002\u6b64\u5916\uff0c\u8be5\u516c\u53f8\u8fd8\u7ba1\u7406\u7740\u65b0\u52a0\u5761\u3001\u6fb3\u5927\u5229\u4e9a\u3001\u82f1\u56fd\u548c\u7f8e\u56fd\u7684\u5b66\u751f\u4f4f\u5bbf\u7269\u4e1a\u3002 \u6269\u5927\u5168\u7403\u5e03\u5c40\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0cCenturion\u8fd0\u8425\u4e8669,929\u4e2a\u5e8a\u4f4d\uff0c\u5206\u5e03\u572837\u4e2a\u8d44\u4ea7\u4e2d\uff0c\u7ba1\u7406\u8d44\u4ea7\u89c4\u6a21 (AUM) \u8fbe26\u4ebf\u65b0\u5143\u3002\u5de5\u4eba\u5bbf\u820d (PBWA) \u7684\u6536\u5165\u589e\u957f15%\uff0c\u8fbe\u52305,340\u4e07\u65b0\u5143\uff0c\u800c\u5b66\u751f\u5bbf\u820d (PBSA) \u7684\u6536\u5165\u5c0f\u5e45\u589e\u957f2%\uff0c\u81f31,500\u4e07\u65b0\u5143\u3002\u96c6\u56e2\u5728\u4e2d\u56fd\u7684\u65b0\u5efa\u79df\u8d41\u8d44\u4ea7 (Build-to-Rent) \u5df2\u5f00\u59cb\u8fd0\u8425\uff0c\u5165\u4f4f\u7387\u4e3a48%\uff0c\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u63d0\u5347\u3002Centurion\u6b63\u79ef\u6781\u6269\u5927\u5176\u4e1a\u52a1\u7248\u56fe\uff0c\u5305\u62ec\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u7684\u5bbf\u820d\u91cd\u5efa\u9879\u76ee\u4ee5\u53ca\u6fb3\u5927\u5229\u4e9a\u7684PBSA\u5f00\u53d1\u9879\u76ee\u3002\u5c3d\u7ba1\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u7684\u5165\u4f4f\u7387\u8f83\u4f4e\uff0c\u4f46\u516c\u53f8\u901a\u8fc7\u6218\u7565\u6027\u7ba1\u7406\u79df\u91d1\u548c\u5165\u4f4f\u7387\uff0c\u5bf9\u6301\u7eed\u4fdd\u6301\u4e1a\u7ee9\u5145\u6ee1\u4fe1\u5fc3\u3002 \u63a2\u7d22REIT\u4e0a\u5e02\u3002Centurion\u6b63\u5728\u63a2\u7d22\u5c06\u6210\u719f\u5e02\u573a\uff08\u5982\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u548c\u82f1\u56fd\uff09\u7684\u7a33\u5b9aPBWA\u548cPBSA\u8d44\u4ea7\u7ec4\u6210REIT\uff08\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\uff09\u7684\u53ef\u80fd\u6027\u3002\u8fd9\u5c06\u6709\u52a9\u4e8e\u91ca\u653e\u8d44\u4ea7\u4ef7\u503c\u3001\u589e\u5f3a\u8d44\u672c\u5faa\u73af\uff0c\u5e76\u901a\u8fc7\u6f5c\u5728\u7684\u5b9e\u7269\u5206\u7ea2\uff0c\u4e3a\u80a1\u4e1c\u63d0\u4f9b\u7a33\u5b9a\u7684\u6536\u76ca\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002 \u6536\u5165\u540c\u6bd4\u589e\u957f13%\uff0c\u4ece2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846,110\u4e07\u65b0\u5143\u589e\u81f36,900\u4e07\u65b0\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6240\u6709PBSA\u548cPBWA\u8d44\u4ea7\u7684\u79df\u91d1\u4e0a\u8c03\u4ee5\u53ca\u65b0\u52a0\u5761\u548c\u82f1\u56fd\u7684\u5f3a\u52b2\u8d22\u52a1\u5165\u4f4f\u7387\uff0c\u4f46\u90e8\u5206\u88ab\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u8d44\u4ea7\u7684\u8f83\u4f4e\u5165\u4f4f\u7387\u6240\u62b5\u6d88\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 1.38 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK)\uff1a\u201c\u5e73\u4ef7\u201d\u7597\u6108\u65b9\u5f0f \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a157\uff0c\u76ee\u6807\u4ef7\uff1a179\uff0c\u6b62\u635f\u4ef7\uff1a146 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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\u5e745\u670823\u65e5: \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP), \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK), \u535a\u901a\u516c\u53f8 (AVGO 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 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP)\uff1a\u5165\u5883\u65c5\u5ba2\u6fc0\u589e \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a7.00\uff0c\u76ee\u6807\u4ef7\uff1a7.50\uff0c\u6b62\u635f\u4ef7\uff1a6.75 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8\u63d0\u4f9b\u822a\u7a7a\u8fd0\u8f93\u3001\u5de5\u7a0b\u3001\u98de\u884c\u5458\u57f9\u8bad\u3001\u5305\u673a\u548c\u65c5\u6e38\u6279\u53d1\u670d\u52a1\u3002\u516c\u53f8\u7684\u822a\u7a7a\u4e1a\u52a1\u8986\u76d6\u4e9a\u6d32\u3001\u6b27\u6d32\u3001\u7f8e\u6d32\u3001\u5357\u592a\u5e73\u6d0b\u548c\u975e\u6d32\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u4fdd\u6301\u4f4e\u4f4d\u3002 \u9884\u8ba12025\u5e74\u822a\u7a7a\u71c3\u6cb9\u5e02\u573a\u5c06\u5ef6\u7eed\u81ea2024\u5e74\u5e95\u4ee5\u6765\u7684\u4f4e\u4ef7\u8d8b\u52bf\u3002\u56fd\u9645\u822a\u7a7a\u8fd0\u8f93\u534f\u4f1a (IATA) \u9884\u8ba1\u822a\u7a7a\u71c3\u6cb9\u7684\u5e73\u5747\u6210\u672c\u4e3a\u6bcf\u687687\u7f8e\u5143\uff08\u6bcf\u52a0\u4ed12.0714\u7f8e\u5143\uff09\uff0c\u71c3\u6cb9\u603b\u652f\u51fa\u9884\u8ba1\u5c06\u964d\u81f32,480\u4ebf\u7f8e\u5143\uff0c\u6bd42024\u5e74\u4f4e\u7ea65%\u3002\u5c3d\u7ba1\u70bc\u6cb9\u5382\u7684\u4e2d\u65ad\u53ef\u80fd\u4f1a\u77ed\u6682\u5f71\u54cd\u4ef7\u683c\uff0c\u4f46\u6574\u4f53\u4ef7\u683c\u7a33\u5b9a\u53ef\u671f\u3002\u6b64\u5916\uff0c\u71c3\u6cb9\u6210\u672c\u9884\u8ba1\u5c06\u5360\u822a\u7a7a\u516c\u53f8\u603b\u652f\u51fa\u768426.4%\uff0c\u4f4e\u4e8e2024\u5e74\u768428.4%\uff0c\u8fd9\u5c06\u6709\u52a9\u4e8e\u6539\u5584\u822a\u7a7a\u516c\u53f8\u7684\u76c8\u5229\u80fd\u529b\u3002\u622a\u81f32025\u5e745\u670816\u65e5\u7684\u4e00\u5468\uff0c\u5168\u7403\u822a\u7a7a\u71c3\u6cb9\u5e73\u5747\u4ef7\u683c\u8f83\u524d\u4e00\u5468\u4e0a\u6da85.1%\uff0c\u81f3\u6bcf\u687683.76\u7f8e\u5143\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u8d8b\u52bf (Source: Bloomberg) \u80dc\u6377\u4f01\u4e1a (CENT SP)\uff1a\u5728\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u4e2d\u6301\u7eed\u5f3a\u52b2\u8868\u73b0 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.30\uff0c\u76ee\u6807\u4ef7\uff1a1.40\uff0c\u6b62\u635f\u4ef7\uff1a1.25 \u80dc\u6377\u4f01\u4e1a\u4e13\u6ce8\u4e8e\u62e5\u6709\u548c\u7ecf\u8425\u5de5\u4eba\u548c\u5b66\u751f\u4f4f\u5bbf\u8d44\u4ea7\u3002\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\uff0c\u5b83\u662f\u65b0\u52a0\u5761\u6700\u5927\u7684\u9ad8\u54c1\u8d28\u5458\u5de5\u4f4f\u5bbf\u4e1a\u4e3b\u548c\u7ecf\u8425\u8005\u4e4b\u4e00\u3002\u6b64\u5916\uff0c\u8be5\u516c\u53f8\u8fd8\u7ba1\u7406\u7740\u65b0\u52a0\u5761\u3001\u6fb3\u5927\u5229\u4e9a\u3001\u82f1\u56fd\u548c\u7f8e\u56fd\u7684\u5b66\u751f\u4f4f\u5bbf\u7269\u4e1a\u3002 \u6269\u5927\u5168\u7403\u5e03\u5c40\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0cCenturion\u8fd0\u8425\u4e8669,929\u4e2a\u5e8a\u4f4d\uff0c\u5206\u5e03\u572837\u4e2a\u8d44\u4ea7\u4e2d\uff0c\u7ba1\u7406\u8d44\u4ea7\u89c4\u6a21 (AUM) \u8fbe26\u4ebf\u65b0\u5143\u3002\u5de5\u4eba\u5bbf\u820d (PBWA) \u7684\u6536\u5165\u589e\u957f15%\uff0c\u8fbe\u52305,340\u4e07\u65b0\u5143\uff0c\u800c\u5b66\u751f\u5bbf\u820d (PBSA) \u7684\u6536\u5165\u5c0f\u5e45\u589e\u957f2%\uff0c\u81f31,500\u4e07\u65b0\u5143\u3002\u96c6\u56e2\u5728\u4e2d\u56fd\u7684\u65b0\u5efa\u79df\u8d41\u8d44\u4ea7 (Build-to-Rent) \u5df2\u5f00\u59cb\u8fd0\u8425\uff0c\u5165\u4f4f\u7387\u4e3a48%\uff0c\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u63d0\u5347\u3002Centurion\u6b63\u79ef\u6781\u6269\u5927\u5176\u4e1a\u52a1\u7248\u56fe\uff0c\u5305\u62ec\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u7684\u5bbf\u820d\u91cd\u5efa\u9879\u76ee\u4ee5\u53ca\u6fb3\u5927\u5229\u4e9a\u7684PBSA\u5f00\u53d1\u9879\u76ee\u3002\u5c3d\u7ba1\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u7684\u5165\u4f4f\u7387\u8f83\u4f4e\uff0c\u4f46\u516c\u53f8\u901a\u8fc7\u6218\u7565\u6027\u7ba1\u7406\u79df\u91d1\u548c\u5165\u4f4f\u7387\uff0c\u5bf9\u6301\u7eed\u4fdd\u6301\u4e1a\u7ee9\u5145\u6ee1\u4fe1\u5fc3\u3002 \u63a2\u7d22REIT\u4e0a\u5e02\u3002Centurion\u6b63\u5728\u63a2\u7d22\u5c06\u6210\u719f\u5e02\u573a\uff08\u5982\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\u548c\u82f1\u56fd\uff09\u7684\u7a33\u5b9aPBWA\u548cPBSA\u8d44\u4ea7\u7ec4\u6210REIT\uff08\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\uff09\u7684\u53ef\u80fd\u6027\u3002\u8fd9\u5c06\u6709\u52a9\u4e8e\u91ca\u653e\u8d44\u4ea7\u4ef7\u503c\u3001\u589e\u5f3a\u8d44\u672c\u5faa\u73af\uff0c\u5e76\u901a\u8fc7\u6f5c\u5728\u7684\u5b9e\u7269\u5206\u7ea2\uff0c\u4e3a\u80a1\u4e1c\u63d0\u4f9b\u7a33\u5b9a\u7684\u6536\u76ca\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002 \u6536\u5165\u540c\u6bd4\u589e\u957f13%\uff0c\u4ece2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846,110\u4e07\u65b0\u5143\u589e\u81f36,900\u4e07\u65b0\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6240\u6709PBSA\u548cPBWA\u8d44\u4ea7\u7684\u79df\u91d1\u4e0a\u8c03\u4ee5\u53ca\u65b0\u52a0\u5761\u548c\u82f1\u56fd\u7684\u5f3a\u52b2\u8d22\u52a1\u5165\u4f4f\u7387\uff0c\u4f46\u90e8\u5206\u88ab\u9a6c\u6765\u897f\u4e9a\u548c\u6fb3\u5927\u5229\u4e9a\u8d44\u4ea7\u7684\u8f83\u4f4e\u5165\u4f4f\u7387\u6240\u62b5\u6d88\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 1.38 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK)\uff1a\u201c\u5e73\u4ef7\u201d\u7597\u6108\u65b9\u5f0f \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a157\uff0c\u76ee\u6807\u4ef7\uff1a179\uff0c\u6b62\u635f\u4ef7\uff1a146 \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u62fc\u88c5\u73a9\u5177\u8bbe\u8ba1\u3001\u5f00\u53d1\u548c\u9500\u552e\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u516c\u53f8\u7684\u4e3b\u8981\u4ea7\u54c1\u5305\u62ec\u62fc\u88c5\u89d2\u8272\u73a9\u5177\u548c\u79ef\u6728\u7c7b\u73a9\u5177\u3002\u516c\u53f8\u81ea\u4e3b\u5f00\u53d1\u7684\u77e5\u8bc6\u4ea7\u6743","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-23-may-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":"2025-05-22T11:18:32+00:00","article:modified_time":"2025-05-23T02:21:16+00:00","twitter:card":"summary","twitter:title":"2025\u5e745\u670823\u65e5: \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP), \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK), \u535a\u901a\u516c\u53f8 (AVGO US) \u2022 KGI Singapore Research","twitter:description":"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8 (SIA SP)\uff1a\u5165\u5883\u65c5\u5ba2\u6fc0\u589e \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a7.00\uff0c\u76ee\u6807\u4ef7\uff1a7.50\uff0c\u6b62\u635f\u4ef7\uff1a6.75 \u65b0\u52a0\u5761\u822a\u7a7a\u516c\u53f8\u63d0\u4f9b\u822a\u7a7a\u8fd0\u8f93\u3001\u5de5\u7a0b\u3001\u98de\u884c\u5458\u57f9\u8bad\u3001\u5305\u673a\u548c\u65c5\u6e38\u6279\u53d1\u670d\u52a1\u3002\u516c\u53f8\u7684\u822a\u7a7a\u4e1a\u52a1\u8986\u76d6\u4e9a\u6d32\u3001\u6b27\u6d32\u3001\u7f8e\u6d32\u3001\u5357\u592a\u5e73\u6d0b\u548c\u975e\u6d32\u3002 \u822a\u7a7a\u71c3\u6cb9\u4ef7\u683c\u4fdd\u6301\u4f4e\u4f4d\u3002 \u9884\u8ba12025\u5e74\u822a\u7a7a\u71c3\u6cb9\u5e02\u573a\u5c06\u5ef6\u7eed\u81ea2024\u5e74\u5e95\u4ee5\u6765\u7684\u4f4e\u4ef7\u8d8b\u52bf\u3002\u56fd\u9645\u822a\u7a7a\u8fd0\u8f93\u534f\u4f1a (IATA) 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\u622a\u81f32025\u5e743\u670831\u65e5\uff0cCenturion\u8fd0\u8425\u4e8669,929\u4e2a\u5e8a\u4f4d\uff0c\u5206\u5e03\u572837\u4e2a\u8d44\u4ea7\u4e2d\uff0c\u7ba1\u7406\u8d44\u4ea7\u89c4\u6a21 (AUM) \u8fbe26\u4ebf\u65b0\u5143\u3002\u5de5\u4eba\u5bbf\u820d (PBWA) \u7684\u6536\u5165\u589e\u957f15%\uff0c\u8fbe\u52305,340\u4e07\u65b0\u5143\uff0c\u800c\u5b66\u751f\u5bbf\u820d (PBSA) \u7684\u6536\u5165\u5c0f\u5e45\u589e\u957f2%\uff0c\u81f31,500\u4e07\u65b0\u5143\u3002\u96c6\u56e2\u5728\u4e2d\u56fd\u7684\u65b0\u5efa\u79df\u8d41\u8d44\u4ea7 (Build-to-Rent) 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