{"id":68197,"date":"2025-05-26T15:31:22","date_gmt":"2025-05-26T07:31:22","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=68197"},"modified":"2025-05-26T15:31:23","modified_gmt":"2025-05-26T07:31:23","slug":"kgi-daily-trading-ideas-26-may-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-26-may-2025-zh\/","title":{"rendered":"2025\u5e745\u670826\u65e5: \u98df\u54c1\u5e1d\u56fd (FEH SP), \u4e2d\u5e7f\u6838\u77ff\u4e1a (1164 HK), Nebius Group NV (NBIS 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-68197-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1470\" height=\"736\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-computer-ai-generated-content-m-24.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-68230\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-computer-ai-generated-content-m-24.png 1470w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-computer-ai-generated-content-m-24-300x150.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-computer-ai-generated-content-m-24-1024x513.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-computer-ai-generated-content-m-24-768x385.png 768w\" sizes=\"(max-width: 1470px) 100vw, 1470px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1071\" height=\"274\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-2.png\" alt=\"\" class=\"wp-image-68231\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-2.png 1071w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-2-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-2-1024x262.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-2-768x196.png 768w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" \/><\/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=\"915\" height=\"282\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-3.png\" alt=\"\" class=\"wp-image-68232\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-3.png 915w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-3-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-3-768x237.png 768w\" sizes=\"(max-width: 915px) 100vw, 915px\" \/><\/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-68197-4.png\" alt=\"\" class=\"wp-image-68233\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-4-300x64.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-68197-_qqv3rtx8nazp\"><\/a><a id=\"post-68197-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2107\" height=\"1057\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-12.png\" alt=\"A screenshot of a phone\n\nAI-generated content may be incorrect.\" class=\"wp-image-68234\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-12.png 2107w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-12-300x150.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-12-1024x514.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-12-768x385.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-12-1536x771.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-screenshot-of-a-phone-ai-generated-content-may-12-2048x1027.png 2048w\" sizes=\"(max-width: 2107px) 100vw, 2107px\" \/><\/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-68197-6.png\" alt=\"\" class=\"wp-image-68235\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-6-300x64.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-68197-_7c2gwybbbr90\"><\/a><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-68197-_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-68197-7.png\" class=\"wp-image-68236\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong><strong>\u98df\u54c1\u5e1d\u56fd (FEH SP)\uff1a\u915d\u917f\u4e9a\u6d32\u589e\u957f\u826f\u65b9<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.74\uff0c\u76ee\u6807\u4ef7\uff1a1.88\uff0c\u6b62\u635f\u4ef7\uff1a1.67<\/strong><br>  <\/li>\n\n\n\n<li>\u98df\u54c1\u5e1d\u56fd\u63a7\u80a1\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4ece\u4e8b\u98df\u54c1\u548c\u996e\u6599\u5236\u9020\u4e0e\u5206\u9500\u7684\u516c\u53f8\u3002\u516c\u53f8\u63d0\u4f9b\u7684\u4ea7\u54c1\u5305\u62ec\u7ecf\u5178\u53ca\u98ce\u5473\u5496\u5561\u6df7\u5408\u996e\u54c1\u548c\u5361\u5e03\u5947\u8bfa\u3001\u5de7\u514b\u529b\u996e\u54c1\u3001\u6c34\u679c\u5473\u53ca\u6ce1\u6ce1\u8336\u3001\u8c37\u7269\u6df7\u5408\u996e\u6599\u4ee5\u53ca\u8106\u76ae\u85af\u7247\u7b49\u96f6\u98df\u3002\u98df\u54c1\u5e1d\u56fd\u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e9a\u6d32\u5e02\u573a\u6301\u7eed\u5f3a\u52b2\u589e\u957f\u3002<\/strong>\u98df\u54c1\u5e1d\u56fd\u5728\u5176\u6838\u5fc3\u5e02\u573a\u4e8e2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u5b9e\u73b0\u9500\u552e\u6301\u7eed\u589e\u957f\uff0c\u663e\u793a\u51fa\u6d88\u8d39\u8005\u5bf9\u5176\u4ea7\u54c1\u7684\u5f3a\u52b2\u9700\u6c42\uff0c\u5c24\u5176\u662f\u5728\u4e1c\u5357\u4e9a\u548c\u5357\u4e9a\u5730\u533a\uff0c\u57282025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u589e\u957f\u5747\u8d85\u8fc730%\u3002\u96c6\u56e2\u5728\u8d8a\u5357\u7684\u54c1\u724c\u5efa\u8bbe\u53d6\u5f97\u663e\u8457\u6210\u679c\uff0c\u4e0d\u65ad\u6269\u5927\u5728\u8d8a\u5357\u5e02\u573a\u7684\u4efd\u989d\uff0c\u8425\u6536\u540c\u6bd4\u589e\u957f44.6%\u3002\u8fd9\u5927\u5e45\u63d0\u5347\u4e86\u4e1c\u5357\u4e9a\u5e02\u573a\u5bf9 Food Empire \u603b\u8425\u6536\u7684\u8d21\u732e\uff0c\u6210\u4e3a\u6700\u5927\u7684\u5e02\u573a\uff0c\u5360\u96c6\u56e22025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u603b\u9500\u552e\u989d\u768429.2%\u3002\u5728\u5357\u4e9a\uff0c\u5496\u5561\u6d88\u8d39\u70ed\u6f6e\u63a8\u52a8\u4e86\u5bf9\u516c\u53f8\u4ea7\u54c1\u7684\u5f3a\u52b2\u9700\u6c42\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6269\u5927\u5168\u4e9a\u6d32\u7684\u4ea7\u80fd\u5e03\u5c40\u3002<\/strong>\u4e3a\u6ee1\u8db3\u65e5\u76ca\u589e\u957f\u7684\u5e02\u573a\u9700\u6c42\uff0c\u98df\u54c1\u5e1d\u56fd\u6b63\u5927\u5e45\u6269\u5c55\u5176\u5728\u4e9a\u6d32\u7684\u751f\u4ea7\u80fd\u529b\u3002\u5728\u8d8a\u5357\uff0c\u4e00\u5ea7\u65b0\u7684\u51bb\u5e72\u901f\u6eb6\u5496\u5561\u5de5\u5382\u8ba1\u5212\u4e8e2025\u5e74\u5e95\u52a8\u5de5\uff0c\u9884\u8ba12028\u5e74\u6295\u4ea7\uff0c\u5c06\u589e\u5f3a\u5176\u539f\u6750\u6599\u4e1a\u52a1\u80fd\u529b\u3002\u540c\u65f6\uff0c\u5176\u4f4d\u4e8e\u9a6c\u6765\u897f\u4e9a\u7684\u96f6\u98df\u5236\u9020\u5de5\u5382\u5c06\u57282025\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5b8c\u6210\u6269\u5efa\u540e\uff0c\u4ea7\u80fd\u5c06\u63d0\u5347\u7ea650%\u3002\u5728\u4e1c\u5357\u4e9a\u4ee5\u5916\uff0c\u98df\u54c1\u5e1d\u56fd\u4f4d\u4e8e\u54c8\u8428\u514b\u65af\u5766\u7684\u9996\u5bb6\u5496\u5561\u6df7\u5408\u996e\u54c1\u5de5\u5382\u9884\u8ba1\u5c06\u57282025\u5e74\u5e95\u5b8c\u5de5\uff0c\u5496\u5561\u6df7\u5408\u4ea7\u54c1\u7684\u6574\u4f53\u4ea7\u80fd\u5c06\u63d0\u5347\u7ea615%\uff0c\u5e76\u5c06\u4e1a\u52a1\u6269\u5c55\u81f3\u4e2d\u4e9a\u5e02\u573a\u3002\u8fd9\u4e9b\u6218\u7565\u6027\u6269\u5f20\u5c06\u63a8\u52a8\u96c6\u56e2\u5728\u4e9a\u6d32\u4e3b\u8981\u5e02\u573a\u7684\u6301\u7eed\u8425\u6536\u589e\u957f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u628a\u63e1\u8d8a\u5357\u5e02\u573a\u589e\u957f\u673a\u9047\u3002<\/strong>\u8d8a\u5357\u4ecd\u662f\u98df\u54c1\u5e1d\u56fd\u7684\u6218\u7565\u589e\u957f\u91cd\u70b9\u5e02\u573a\uff0c\u4e5f\u662f\u516c\u53f8\u589e\u957f\u6700\u5feb\u7684\u5e02\u573a\u30022025\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u8d8a\u5357GDP\u540c\u6bd4\u589e\u957f6.93%\uff0c\u5c3d\u7ba1\u73af\u6bd4\u6709\u6240\u653e\u7f13\uff0c\u4f46\u4e3a2020\u5e74\u4ee5\u6765\u7684\u4e00\u5b63\u5ea6\u6700\u9ad8\u589e\u901f\u3002\u4e16\u754c\u94f6\u884c\u9884\u6d4b2025\u5e74\u8d8a\u5357GDP\u5c06\u589e\u957f5.8%\uff0c\u800c\u8d8a\u5357\u56fd\u4f1a\u5219\u8bbe\u5b9a\u4e868%\u7684\u66f4\u9ad8\u76ee\u6807\u3002\u5f3a\u52b2\u7684\u7ecf\u6d4e\u524d\u666f\u5c06\u6709\u5229\u4e8e\u98df\u54c1\u5e1d\u56fd\u5728\u8d8a\u5357\u7684\u6301\u7eed\u6269\u5f20\u3002\u96c6\u56e2\u5728\u8425\u9500\u3001\u6d88\u8d39\u8005\u4e92\u52a8\u548c\u4ea7\u80fd\u65b9\u9762\u7684\u6295\u8d44\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u5de9\u56fa\u5176\u54c1\u724c\u5f71\u54cd\u529b\uff0c\u5e76\u52a9\u529b\u628a\u63e1\u8d8a\u5357\u5feb\u901f\u53d1\u5c55\u7684\u957f\u671f\u589e\u957f\u673a\u9047\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002<\/strong>\u98df\u54c1\u5e1d\u56fd\u62a5\u544a\u79f0\uff0c\u51762025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u8fbe1.366\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f16.3%\uff0c\u76f8\u6bd42024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76841.175\u4ebf\u7f8e\u5143\u5b9e\u73b0\u663e\u8457\u589e\u957f\u3002\u4e1c\u5357\u4e9a\u548c\u5357\u4e9a\u5e02\u573a\u7684\u8425\u6536\u5206\u522b\u589e\u957f33.8%\u548c31.7%\uff0c\u4e3a\u6574\u4f53\u589e\u957f\u63d0\u4f9b\u4e3b\u8981\u52a8\u529b\u3002\u4e4c\u514b\u5170\u3001\u54c8\u8428\u514b\u65af\u5766\u53ca\u72ec\u8054\u4f53\u5e02\u573a\u8425\u6536\u540c\u6bd4\u589e\u957f14.6%\uff0c\u4fc4\u7f57\u65af\u5e02\u573a\u8425\u6536\u5219\u540c\u6bd4\u5c0f\u5e45\u589e\u957f0.5%\u3002\u516c\u53f8\u5728\u6240\u6709\u4e3b\u8981\u5e02\u573a\u5747\u5b9e\u73b0\u8425\u6536\u589e\u957f\uff0c\u663e\u793a\u51fa\u5728\u539f\u6750\u6599\u6210\u672c\u4e0a\u5347\u548c\u5168\u7403\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u6301\u7eed\u7684\u80cc\u666f\u4e0b\uff0c\u6d88\u8d39\u8005\u9700\u6c42\u4f9d\u7136\u5f3a\u52b2\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 1.95 \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<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-68237\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-8.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-8.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-8-300x64.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=\"1191\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-9.jpeg\" alt=\"\" class=\"wp-image-68238\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-9.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-9-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-9-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-9-768x384.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-20.png\" class=\"wp-image-68239\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-white-background-description-aut-20.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-white-background-description-aut-20-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure> <\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>\u65b0\u822a\u5de5\u7a0b\u6709\u9650\u516c\u53f8 (SIE SP)\uff1a\u98de\u884c\u6d3b\u52a8\u6301\u7eed\u5f3a\u52b2<\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.54\uff0c\u76ee\u6807\u4ef7\uff1a2.70\uff0c\u6b62\u635f\u4ef7\uff1a2.46<\/strong><br>  <\/li>\n\n\n\n<li>\u65b0\u822a\u5de5\u7a0b\u6709\u9650\u516c\u53f8\uff08SIA Engineering Co Ltd\uff09\u63d0\u4f9b\u673a\u8eab\u53ca\u90e8\u4ef6\u68c0\u4fee\u670d\u52a1\u3001\u822a\u7ebf\u7ef4\u62a4\u548c\u5730\u9762\u6280\u672f\u652f\u6301\u670d\u52a1\u3002\u516c\u53f8\u8fd8\u751f\u4ea7\u98de\u673a\u5ba2\u8231\u8bbe\u5907\u3001\u7ffb\u65b0\u98de\u673a\u53a8\u623f\uff0c\u5e76\u7ef4\u4fee\u4e0e\u68c0\u4fee\u6db2\u538b\u673a\u68b0\u8bbe\u5907\u3002<br>  <\/li>\n\n\n\n<li><strong>\u822a\u73ed\u91cf\u6062\u590d\u63a5\u8fd1\u75ab\u60c5\u524d\u6c34\u5e73\u3002<\/strong>SIAEC \u62a5\u544a\u79f0\uff0c\u622a\u81f32024\/25\u8d22\u5e74\u672b\uff0c\u516c\u53f8\u822a\u7ebf\u7ef4\u62a4\u4e1a\u52a1\u6240\u5904\u7406\u7684\u822a\u73ed\u91cf\u5df2\u8fbe\u5230\u75ab\u60c5\u524d\u6c34\u5e73\u768497%\u3002\u57282025\u5e74\u7b2c\u56db\u5b63\u5ea6\uff0c\u5904\u7406\u7684\u822a\u73ed\u91cf\u8fdb\u4e00\u6b65\u6062\u590d\u81f3\u75ab\u60c5\u524d\u768499%\u3002\u822a\u73ed\u6d3b\u52a8\u589e\u52a0\u5e26\u52a8\u4e86\u98de\u673a\u7ef4\u62a4\u3001\u4fee\u7406\u4e0e\u5927\u4fee\uff08MRO\uff09\u670d\u52a1\u9700\u6c42\u7684\u4e0a\u5347\u3002\u968f\u7740\u66f4\u591a\u822a\u7a7a\u516c\u53f8\u52a0\u5feb\u822a\u73ed\u6062\u590d\uff0c\u5e76\u8fce\u6765\u590f\u5b63\u51fa\u884c\u9ad8\u5cf0\uff0c\u8fd9\u4e00\u589e\u957f\u8d8b\u52bf\u6709\u671b\u6301\u7eed\u3002<br>  <\/li>\n\n\n\n<li><strong>\u66f4\u591a\u6536\u5165\u6765\u6e90\u5373\u5c06\u5230\u6765\u3002<\/strong>\u516c\u53f8\u8fd1\u671f\u8bbe\u7acb\u4e86 TIA Engineering Services Co. Ltd\uff0c\u4ee5\u5728\u67ec\u57d4\u5be8\u5373\u5c06\u542f\u7528\u7684\u5fb7\u5d07\u56fd\u9645\u673a\u573a\uff08Techo International Airport\uff09\u63d0\u4f9b\u822a\u7ebf\u7ef4\u62a4\u670d\u52a1\uff0c\u9884\u8ba1\u5c06\u4e8e2025\u5e747\u6708\u5f00\u59cb\u8fd0\u8425\uff0c\u5c4a\u65f6\u516c\u53f8\u822a\u7ebf\u7ef4\u62a4\u7f51\u7edc\u5c06\u6269\u5c55\u81f39\u4e2a\u56fd\u5bb6\u768436\u4e2a\u673a\u573a\u3002\u6b64\u5916\uff0c\u96c6\u56e2\u5168\u8d44\u5b50\u516c\u53f8 Base Maintenance Malaysia Sdn. Bhd.\uff08BMM\uff09\u4e5f\u9884\u8ba1\u5c06\u57282025\u5e74\u4e0b\u534a\u5e74\u5f00\u59cb\u8fd0\u8425\uff0c\u5176\u4e2d\u4e00\u5ea7\u673a\u5e93\u5c06\u5728\u4e0b\u534a\u5e74\u542f\u7528\uff0c\u53e6\u4e00\u5ea7\u5c06\u57282026\u5e74\u4e0a\u534a\u5e74\u542f\u7528\u3002\u8fd9\u4e9b\u4e1a\u52a1\u5c06\u6709\u671b\u4e3a\u516c\u53f8\u5e26\u6765\u79ef\u6781\u7684\u8425\u6536\u8d21\u732e\u3002<br>  <\/li>\n\n\n\n<li><strong>\u822a\u73ed\u6062\u590d\u8d8b\u52bf\u6301\u7eed\u3002<\/strong>\u81ea2022\u5e74\u4ee5\u6765\uff0c\u65b0\u52a0\u5761\u7684\u822a\u73ed\u6d3b\u52a8\u6301\u7eed\u6539\u5584\uff0c2024\u5e74\u6a1f\u5b9c\u673a\u573a\u7684\u5546\u4e1a\u822a\u7a7a\u8d77\u964d\u6b21\u6570\u8fbe\u523036.6\u4e07\u67b6\u6b21\uff0c\u5df2\u6062\u590d\u81f32019\u5e74\u75ab\u60c5\u524d38.2\u4e07\u67b6\u6b21\u768495.8%\u3002\u622a\u81f32024\u5e743\u6708\uff0c\u6a1f\u5b9c\u673a\u573a\u5f55\u5f979.4\u4e07\u67b6\u6b21\u822a\u73ed\uff0c\u53602024\u8d22\u5e74\u603b\u91cf\u768425.7%\u30022024\u8d22\u5e74\u822a\u7a7a\u8d27\u8fd0\u91cf\u8fbe199.5\u4e07\u5428\uff0c\u5df2\u6062\u590d\u81f32019\u5e74201\u4e07\u5428\u768499.3%\u3002\u672a\u6765\uff0c\u968f\u7740\u65c5\u6e38\u9700\u6c42\u5728\u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u4e0b\u4ecd\u4fdd\u6301\u97e7\u6027\uff0c\u65b0\u52a0\u5761\u822a\u73ed\u6d3b\u52a8\u9884\u8ba1\u5c06\u7ee7\u7eed\u5f3a\u52b2\u589e\u957f\u3002\u968f\u7740\u66f4\u591a\u5f80\u8fd4\u65b0\u52a0\u5761\u7684\u822a\u7ebf\u53ca\u822a\u73ed\u9891\u7387\u7684\u5f00\u653e\uff0c\u6a1f\u5b9c\u673a\u573a\u6709\u671b\u57282025\u5e74\u4f59\u4e0b\u65f6\u95f4\u8fce\u6765\u66f4\u9ad8\u7684\u822a\u73ed\u91cf\u3002\u5373\u5c06\u5230\u6765\u7684\u590f\u5b63\u51fa\u884c\u9ad8\u5cf0\u4e5f\u6709\u671b\u63a8\u52a8\u822a\u73ed\u9700\u6c42\u548c\u6570\u91cf\u7684\u4e0a\u5347\uff0c\u4ece\u800c\u8fdb\u4e00\u6b65\u63d0\u5347 SIAEC \u7684 MRO \u670d\u52a1\u9700\u6c42\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>SIAEC \u62a5\u544a\u79f0\uff0c\u51762024\/25\u8d22\u5e74\u8425\u6536\u4e3a12.451\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f13.8%\uff0c\u76f8\u6bd42023\/24\u8d22\u5e74\u768410.942\u4ebf\u65b0\u5143\u6709\u6240\u63d0\u5347\uff0c\u53d7\u76ca\u4e8e\u98de\u673aMRO\u670d\u52a1\u9700\u6c42\u7684\u6301\u7eed\u590d\u82cf\u3002\u516c\u53f82024\/25\u8d22\u5e74\u7684\u8425\u4e1a\u5229\u6da6\u4e3a1460\u4e07\u65b0\u5143\uff0c\u8f832023\/24\u8d22\u5e74\u7684230\u4e07\u65b0\u5143\u5927\u5e45\u589e\u957f\u3002\u96c6\u56e22024\/25\u8d22\u5e74\u7684\u7a0e\u540e\u5229\u6da6\u4e3a1.416\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f16.0%\uff0c\u76f8\u6bd42023\/24\u8d22\u5e74\u76849710\u4e07\u65b0\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u8054\u8425\u516c\u53f8\u548c\u5408\u8d44\u4f01\u4e1a\u5229\u6da6\u7684\u589e\u52a0\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 2.83\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<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-68240\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-11.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-11.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-11-300x64.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=\"1191\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-12.jpeg\" alt=\"\" class=\"wp-image-68241\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-12.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-12-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-12-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-12-768x384.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\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-13.png\" class=\"wp-image-68242\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-13-300x64.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-68197-_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-68197-14.png\" class=\"wp-image-68243\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-68197-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e2d\u5e7f\u6838\u77ff\u4e1a (1164 HK)\uff1a\u66f4\u591a\u9700\u6c42\u987a\u98ce\u5373\u5c06\u5230\u6765<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.60\uff0c\u76ee\u6807\u4ef7\uff1a1.80\uff0c\u6b62\u635f\u4ef7\uff1a1.50<\/strong><br>  <\/li>\n\n\n\n<li>\u4e2d\u5e7f\u6838\u77ff\u4e1a\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u5929\u7136\u94c0\u8d38\u6613\u4e1a\u52a1\u7684\u516c\u53f8\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u4e09\u4e2a\u5206\u90e8\u8fd0\u8425\u4e1a\u52a1\u3002\u5929\u7136\u94c0\u8d38\u6613\u5206\u90e8\u4ece\u4e8b\u5929\u7136\u94c0\u8d38\u6613\u4e1a\u52a1\u3002\u7269\u4e1a\u6295\u8d44\u5206\u90e8\u4ece\u4e8b\u79df\u8d41\u4e1a\u52a1\u3002\u5176\u4ed6\u6295\u8d44\u5206\u90e8\u4ece\u4e8b\u6295\u8d44\u6d3b\u52a8\u3002<br>  <\/li>\n\n\n\n<li><strong>\u94c0\u4ef7\u53cd\u5f39\u3002<\/strong>\u94c0\u671f\u8d27\u4ef7\u683c\u7a81\u7834\u6bcf\u78c571\u7f8e\u5143\uff0c\u5ef6\u7eed\u4e863\u6708\u548c4\u6708\u89e6\u53ca18\u4e2a\u6708\u4f4e\u70b964\u7f8e\u5143\u540e\u7684\u590d\u82cf\u3002\u6b64\u6b21\u4e0a\u6da8\u53cd\u6620\u51fa\u5e02\u573a\u9700\u6c42\u9884\u671f\u7684\u6539\u5584\u4ee5\u53ca\u7f8e\u56fd\u56fd\u5185\u91c7\u77ff\u4ea7\u80fd\u6301\u7eed\u7d27\u5f20\u7684\u5c40\u9762\u3002\u7f8e\u56fd\u653f\u5e9c\u6682\u505c\u5bf9\u4e3b\u8981\u8d38\u6613\u4f19\u4f34\u5f81\u6536\u5173\u7a0e\u5e76\u5bfb\u6c42\u91cd\u5efa\u4e0e\u4e2d\u56fd\u7684\u8d38\u6613\u5173\u7cfb\uff0c\u7f13\u89e3\u4e86\u5e02\u573a\u5bf9\u66f4\u5e7f\u6cdb\u7535\u529b\u9700\u6c42\u7684\u62c5\u5fe7\uff0c\u8fdb\u4e00\u6b65\u63d0\u632f\u4e86\u5e02\u573a\u60c5\u7eea\u3002\u7136\u800c\uff0c\u672a\u6765\u5bf9\u6765\u81ea\u52a0\u62ff\u5927\u548c\u54c8\u8428\u514b\u65af\u5766\u7684\u94c0\u8fdb\u53e3\u5173\u7a0e\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u7ee7\u7eed\u7ed9\u6709\u9650\u7684\u56fd\u5185\u4f9b\u5e94\u5e26\u6765\u538b\u529b\u3002\u7f8e\u56fd\u4ecd\u7136\u4e25\u91cd\u4f9d\u8d56\u8fdb\u53e3\u2014\u2014\u5c24\u5176\u662f\u6765\u81ea\u54c8\u8428\u514b\u65af\u5766\u7684\u8fdb\u53e3\uff0c\u76ee\u524d\u54c8\u8428\u514b\u65af\u5766\u9762\u4e3427%\u7684\u5bf9\u7b49\u5173\u7a0e\uff0c\u800c\u52a0\u62ff\u5927\u8fdb\u53e3\u5219\u9700\u7f34\u7eb310%\u7684\u5173\u7a0e\u3002<br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u94c0\u671f\u8d27\u4ef7\u683c<\/strong>\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1264\" height=\"654\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-15.jpeg\" alt=\"\" class=\"wp-image-68244\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-15.jpeg 1264w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-15-300x155.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-15-1024x530.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-15-768x397.jpeg 768w\" sizes=\"(max-width: 1264px) 100vw, 1264px\" \/><\/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<ul class=\"wp-block-list\">\n<li><strong>\u652f\u6301\u6838\u80fd\u9886\u57df\u7684\u884c\u653f\u547d\u4ee4\u3002<\/strong>\u6709\u6d88\u606f\u79f0\uff0c\u7f8e\u56fd\u603b\u7edf\u5510\u7eb3\u5fb7\u00b7\u7279\u6717\u666e\u5c06\u7b7e\u7f72\u4e00\u7cfb\u5217\u65e8\u5728\u632f\u5174\u6838\u80fd\u4ea7\u4e1a\u7684\u884c\u653f\u547d\u4ee4\u3002\u9884\u8ba1\u8fd9\u4e9b\u63aa\u65bd\u5c06\u7b80\u5316\u65b0\u53cd\u5e94\u5806\u7684\u76d1\u7ba1\u5ba1\u6279\u7a0b\u5e8f\uff0c\u5e76\u52a0\u5f3a\u56fd\u5185\u6838\u71c3\u6599\u4f9b\u5e94\u94fe\u3002\u4e00\u4efd\u6458\u8981\u8349\u6848\u663e\u793a\uff0c\u8ba1\u5212\u63f4\u5f15\u51b7\u6218\u65f6\u671f\u7684\u300a\u56fd\u9632\u751f\u4ea7\u6cd5\u300b\uff0c\u5ba3\u5e03\u7f8e\u56fd\u5728\u6d53\u7f29\u94c0\u3001\u71c3\u6599\u52a0\u5de5\u548c\u5148\u8fdb\u53cd\u5e94\u5806\u90e8\u4ef6\u65b9\u9762\u5bf9\u4fc4\u7f57\u65af\u548c\u4e2d\u56fd\u7684\u4f9d\u8d56\u6784\u6210\u56fd\u5bb6\u7d27\u6025\u72b6\u6001\u3002\u8fd9\u4e9b\u547d\u4ee4\u8fd8\u5c06\u6307\u793a\u8054\u90a6\u673a\u6784\u52a0\u5feb\u65b0\u6838\u8bbe\u65bd\u7684\u9009\u5740\u548c\u8bb8\u53ef\u5ba1\u6279\uff0c\u5e76\u6307\u793a\u80fd\u6e90\u90e8\u548c\u56fd\u9632\u90e8\u786e\u5b9a\u53ef\u7528\u4e8e\u6838\u80fd\u90e8\u7f72\u7684\u8054\u90a6\u571f\u5730\u3002\u8fd9\u4e9b\u884c\u52a8\u53ef\u80fd\u4f1a\u63d0\u632f\u94c0\u9700\u6c42\uff0c\u76f4\u63a5\u5229\u597d\u4e2d\u5e7f\u6838\u77ff\u4e1a\u7b49\u751f\u4ea7\u5546\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e2d\u56fd\u52a0\u901f\u6838\u7535\u6269\u5f20\u3002<\/strong>2025\u5e744\u6708\uff0c\u4e2d\u56fd\u56fd\u52a1\u9662\u6279\u51c6\u65b0\u5efa10\u5ea7\u6838\u53cd\u5e94\u5806\uff0c\u8fd9\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u4e2d\u56fd\u5c06\u6838\u7535\u4f5c\u4e3a\u6e05\u6d01\u80fd\u6e90\u8f6c\u578b\u6838\u5fc3\u7ec4\u6210\u90e8\u5206\u7684\u627f\u8bfa\u3002\u8fd9\u6807\u5fd7\u7740\u4e2d\u56fd\u5df2\u8fde\u7eed\u56db\u5e74\u6279\u51c6\u81f3\u5c1110\u5ea7\u53cd\u5e94\u5806\u7684\u5efa\u8bbe\u3002\u76ee\u524d\u4e2d\u56fd\u5728\u5efa\u7684\u6838\u53cd\u5e94\u5806\u670930\u5ea7\uff0c\u7ea6\u5360\u5168\u7403\u603b\u6570\u7684\u4e00\u534a\uff0c\u4e2d\u56fd\u6709\u671b\u5728\u672c\u5341\u5e74\u672b\u8d85\u8d8a\u7f8e\u56fd\uff0c\u6210\u4e3a\u5168\u7403\u6700\u5927\u7684\u6838\u80fd\u751f\u4ea7\u56fd\u3002\u4e2d\u56fd\u7535\u529b\u4f01\u4e1a\u8054\u5408\u4f1a\u9884\u8ba1\uff0c\u5230\u4eca\u5e74\u5e74\u5e95\uff0c\u4e2d\u56fd\u7684\u6838\u7535\u88c5\u673a\u5bb9\u91cf\u5c06\u8fbe\u523065\u5409\u74e6\uff0c\u9ad8\u4e8e\u53bb\u5e74\u768460\u5409\u74e6\u4ee5\u4e0b\u3002\u8fd9\u79cd\u5feb\u901f\u6269\u5f20\u9884\u8ba1\u5c06\u663e\u8457\u63d0\u632f\u94c0\u9700\u6c42\uff0c\u5bf9\u4e2d\u5e7f\u6838\u77ff\u4e1a\u7b49\u4f9b\u5e94\u5546\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u7ee9\u3002<\/strong>2024\u8d22\u5e74\u6536\u5165\u540c\u6bd4\u589e\u957f17.2%\u81f386.2\u4ebf\u6e2f\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a73.6\u4ebf\u6e2f\u5143\u30022024\u8d22\u5e74\u51c0\u5229\u6da6\u964d\u81f33.42\u4ebf\u6e2f\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a4.971\u4ebf\u6e2f\u5143\uff0c\u8fd9\u4e3b\u8981\u7531\u4e8e\u5df2\u7ec8\u6b62\u7ecf\u8425\u4e1a\u52a1\u5e26\u6765\u7684\u4e8f\u635f\u30022024\u8d22\u5e74\u6301\u7eed\u7ecf\u8425\u4e1a\u52a1\u548c\u5df2\u7ec8\u6b62\u7ecf\u8425\u4e1a\u52a1\u7684\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u964d\u81f34.50\u6e2f\u4ed9\uff0c\u800c2023\u8d22\u5e74\u4e3a6.54\u6e2f\u4ed9\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-68245\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-16.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-16.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-16-300x64.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=\"1191\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-17.jpeg\" alt=\"\" class=\"wp-image-68246\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-17.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-17-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-17-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-17-768x384.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-68197-18.png\" class=\"wp-image-68247\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-18.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-18-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\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>\u91cd\u7533\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-68248\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-29.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-29.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-box-with-white-text-29-300x64.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-7.jpeg\" alt=\"A graph showing a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-68249\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-7.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-7-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-7-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-showing-a-stock-market-ai-generated-conte-7-768x384.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<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-68197-21.png\" alt=\"\" class=\"wp-image-68250\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-21.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-21-300x64.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-68197-_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-68197-22.png\" class=\"wp-image-68251\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-22.png 827w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-22-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-22-768x98.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Nebius Group NV (NBIS US)\uff1a\u6570\u636e\u4e2d\u5fc3\u6269\u5f20<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a38.0 \u76ee\u6807\u4ef7\uff1a 45.0 \u6b62\u635f\u4ef7\uff1a34.5<\/strong><br>  <\/li>\n\n\n\n<li>Nebius Group N.V. \u662f\u4e00\u5bb6\u4e13\u6ce8\u4e8e\u4eba\u5de5\u667a\u80fd\u57fa\u7840\u8bbe\u65bd\u7684\u79d1\u6280\u516c\u53f8\uff0c\u603b\u90e8\u4f4d\u4e8e\u8377\u5170\u963f\u59c6\u65af\u7279\u4e39\u3002\u8be5\u516c\u53f8\u524d\u8eab\u4e3a\u4fc4\u7f57\u65af\u641c\u7d22\u5f15\u64ce\u5de8\u5934 Yandex N.V.\uff0c\u4e8e 2024 \u5e74\u51fa\u552e\u4fc4\u7f57\u65af\u4e1a\u52a1\u548c\u8d44\u4ea7\u540e\uff0c\u8f6c\u578b\u4e3a\u73b0\u5728\u7684 Nebius Group N.V.\u3002<br>  <\/li>\n\n\n\n<li><strong>AI\u5de5\u5382\u53ca\u57fa\u7840\u8bbe\u65bd\u5e02\u573a\u524d\u666f\u5e7f\u9614\u3002<\/strong>\u82f1\u4f1f\u8fbe CEO \u9ec4\u4ec1\u52cb\u5728 2025 \u5e74\u53f0\u5317\u56fd\u9645\u7535\u8111\u5c55\uff08Computex\uff09\u4e0a\u8868\u793a\uff0cAI \u6570\u636e\u4e2d\u5fc3\u5b9e\u9645\u4e0a\u5c31\u662f AI \u5de5\u5382\uff0c\u672a\u6765 AI \u5de5\u5382\u53ca\u76f8\u5173\u57fa\u7840\u8bbe\u65bd\u4ea7\u4e1a\u5c06\u8fbe\u5230\u4e07\u4ebf\u7f8e\u5143\u7684\u5e02\u573a\u89c4\u6a21\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6b27\u7f8e\u6269\u5f20\u3002<\/strong>Nebius \u76ee\u524d\u5728\u82ac\u5170\u548c\u6cd5\u56fd\u62e5\u6709\u6570\u636e\u4e2d\u5fc3\u8bbe\u65bd\uff0c\u5e76\u5373\u5c06\u5728\u51b0\u5c9b\u5f00\u8bbe\u65b0\u8bbe\u65bd\u3002\u516c\u53f8\u8ba1\u5212\u5728\u6b27\u6d32\u6295\u8d44 10 \u4ebf\u7f8e\u5143\uff0c\u6700\u8fd1\u8fd8\u5728\u5df4\u9ece\u63a8\u51fa\u91c7\u7528 Nvidia H200 \u7684 GPU \u96c6\u7fa4\u3002\u6b64\u5916\uff0cNebius \u8ba1\u5212\u5c06\u82ac\u5170\u7684\u6570\u636e\u8fd0\u7b97\u80fd\u529b\u63d0\u5347\u4e09\u500d\uff0c\u672a\u6765 GPU \u6570\u91cf\u53ef\u8fbe 60,000 \u5f20\uff0c\u4ec5\u6b64\u90e8\u5206\u5728\u6ee1\u8f7d\u8fd0\u8f6c\u65f6\u7684\u8425\u6536\u6f5c\u529b\u53ef\u8fbe 10 \u4ebf\u7f8e\u5143\u3002Nebius \u521a\u5728\u582a\u8428\u65af\u57ce\u5f00\u8bbe\u4e86\u6570\u636e\u4e2d\u5fc3\uff0c\u5e76\u8ba1\u5212\u5728\u65b0\u6cfd\u897f\u5dde\u5efa\u8bbe\u4e00\u5ea7\u8d85\u5927\u578b\u6570\u636e\u4e2d\u5fc3\uff0c\u9884\u8ba1\u53ef\u63d0\u4f9b\u9ad8\u8fbe 300 \u5146\u74e6\u7684\u7535\u529b\u5bb9\u91cf\u3002\u516c\u53f8 2024 \u8d22\u5e74\u8425\u6536\u4e3a 1.175 \u4ebf\u7f8e\u5143\uff0c\u9884\u8ba1 2025 \u8d22\u5e74\u8425\u6536\u5c06\u589e\u957f\u81f3 7.5 \u4ebf\u81f3 10 \u4ebf\u7f8e\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e1a\u7ee9\u8d85\u9884\u671f\u3002<\/strong>2025 \u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u540c\u6bd4\u589e\u957f 385%\uff0c\u8fbe 5,530 \u4e07\u7f8e\u5143\uff0c\u7ecf\u8c03\u6574\u540e\u7684\u51c0\u4e8f\u635f\u4e3a 9,250 \u4e07\u7f8e\u5143\u3002AI \u57fa\u7840\u8bbe\u65bd\u5e73\u53f0\uff08\u4e3a AI \u516c\u53f8\u63d0\u4f9b\u5168\u6808\u5f0f\u57fa\u7840\u8bbe\u65bd\uff09\u5728 3 \u6708\u5b9e\u73b0\u5e74\u5316\u7ecf\u5e38\u6027\u6536\u5165 2.49 \u4ebf\u7f8e\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u8ba1\u7b97\u80fd\u529b\u7684\u6269\u5f20\u548c\u9500\u552e\u6267\u884c\u529b\u7684\u63d0\u5347\u3002CEO Arkady Volozh \u5728\u81f4\u80a1\u4e1c\u4fe1\u4e2d\u91cd\u7533\uff0c\u516c\u53f8\u4ecd\u6709\u671b\u5728\u5e74\u5e95\u524d\u5b9e\u73b0 7.5 \u4ebf\u81f3 10 \u4ebf\u7f8e\u5143\u7684\u5e74\u5316\u7ecf\u5e38\u6027\u6536\u5165\u3002\u5168\u5e74\u8425\u6536\u9884\u6d4b\u7ef4\u6301\u5728 5 \u4ebf\u81f3 7 \u4ebf\u7f8e\u5143\u4e4b\u95f4\u3002\u9884\u8ba1 2025 \u5e74\u4e0b\u534a\u5e74\u5c06\u5b9e\u73b0\u6b63\u5411\u8c03\u6574\u540e\u7684 EBITDA\uff0c\u4f46\u5168\u5e74 EBITDA \u4ecd\u5c06\u4e3a\u8d1f\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u8425\u6536\u540c\u6bd4\u589e\u957f385.1%\uff0c\u8fbe\u52305,530\u4e07\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u51c0\u4e8f\u635f\u4e3a9,250\u4e07\u7f8e\u5143\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\/word-image-68197-23.png\" alt=\"\" class=\"wp-image-68252\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-23.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-23-300x64.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\/word-image-68197-24.jpeg\" alt=\"\" class=\"wp-image-68253\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-24.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-24-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-24-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-24-768x384.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-20.png\" class=\"wp-image-68254\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-flag-description-automatically-g-20.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-flag-description-automatically-g-20-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-long-line-of-a-flag-description-automatically-g-20-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/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>\u91cd\u7533\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-19.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-68255\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-numbers-19.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-blue-and-white-rectangular-object-with-numbers-19-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1191\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-7.jpeg\" alt=\"A graph of stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-68256\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-7.jpeg 1191w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-7-300x150.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-7-1024x512.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/a-graph-of-stock-market-ai-generated-content-may-7-768x384.jpeg 768w\" sizes=\"(max-width: 1191px) 100vw, 1191px\" \/><\/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=\"wp-block-paragraph\"><a id=\"post-68197-_Hlt181111973\"><\/a><a id=\"post-68197-_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-68197-_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-68197-28.png\" class=\"wp-image-68257\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-28.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-28-300x64.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-68197-29.png\" alt=\"\" class=\"wp-image-68258\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-29.png 618w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-29-300x62.png 300w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Add Singapore Airlines Ltd (SIA SP) at S$7, Bloks Group Ltd (325 HK) at HK$157 and Broadcom Inc. (AVGO US) at US$228.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"545\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-30.png\" alt=\"\" class=\"wp-image-68259\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-30.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-30-300x173.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/05\/word-image-68197-30-768x444.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 \u98df\u54c1\u5e1d\u56fd (FEH SP)\uff1a\u915d\u917f\u4e9a\u6d32\u589e\u957f\u826f\u65b9 (Source: Bloomberg) \u65b0\u822a\u5de5\u7a0b\u6709\u9650\u516c\u53f8 (SIE SP)\uff1a\u98de\u884c\u6d3b\u52a8\u6301\u7eed\u5f3a\u52b2 (Source: Bloomberg) \u4e2d\u5e7f\u6838\u77ff\u4e1a (1164 HK)\uff1a\u66f4\u591a\u9700\u6c42\u987a\u98ce\u5373\u5c06\u5230\u6765 \u94c0\u671f\u8d27\u4ef7\u683c (Source: Bloomberg) (Source: Bloomberg) \u767e\u4e50\u96c6\u56e2\u6709\u9650\u516c\u53f8 (325 HK)\uff1a\u201c\u5e73\u4ef7\u201d\u7597\u6108\u65b9\u5f0f (Source: Bloomberg) Nebius Group NV (NBIS US)\uff1a\u6570\u636e\u4e2d\u5fc3\u6269\u5f20 (Source: Bloomberg) \u535a\u901a\u516c\u53f8 (AVGO US)\uff1a\u901a\u8fc7NVLink\u96c6\u6210\u63a8\u52a8\u53ef\u6269\u5c55AI (Source: Bloomberg) ^ Back To Top Trading [&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-68197","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 - 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2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002\u98df\u54c1\u5e1d\u56fd\u62a5\u544a\u79f0\uff0c\u51762025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u8fbe1.366\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f16.3%\uff0c\u76f8\u6bd42024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76841.175\u4ebf\u7f8e\u5143\u5b9e\u73b0\u663e\u8457\u589e\u957f\u3002\u4e1c\u5357\u4e9a\u548c\u5357\u4e9a\u5e02\u573a\u7684\u8425\u6536\u5206\u522b\u589e\u957f33.8%\u548c31.7%\uff0c\u4e3a\u6574\u4f53\u589e\u957f\u63d0\u4f9b\u4e3b\u8981\u52a8\u529b\u3002\u4e4c\u514b\u5170\u3001\u54c8\u8428\u514b\u65af\u5766\u53ca\u72ec\u8054\u4f53\u5e02\u573a\u8425\u6536\u540c\u6bd4\u589e\u957f14.6%\uff0c\u4fc4\u7f57\u65af\u5e02\u573a\u8425\u6536\u5219\u540c\u6bd4\u5c0f\u5e45\u589e\u957f0.5%\u3002\u516c\u53f8\u5728\u6240\u6709\u4e3b\u8981\u5e02\u573a\u5747\u5b9e\u73b0\u8425\u6536\u589e\u957f\uff0c\u663e\u793a\u51fa\u5728\u539f\u6750\u6599\u6210\u672c\u4e0a\u5347\u548c\u5168\u7403\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u6301\u7eed\u7684\u80cc\u666f\u4e0b\uff0c\u6d88\u8d39\u8005\u9700\u6c42\u4f9d\u7136\u5f3a\u52b2\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 1.95 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u822a\u5de5\u7a0b\u6709\u9650\u516c\u53f8 (SIE SP)\uff1a\u98de\u884c\u6d3b\u52a8\u6301\u7eed\u5f3a\u52b2 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.54\uff0c\u76ee\u6807\u4ef7\uff1a2.70\uff0c\u6b62\u635f\u4ef7\uff1a2.46 \u65b0\u822a\u5de5\u7a0b\u6709\u9650\u516c\u53f8\uff08SIA Engineering Co Ltd\uff09\u63d0\u4f9b\u673a\u8eab\u53ca\u90e8\u4ef6\u68c0\u4fee\u670d\u52a1\u3001\u822a\u7ebf\u7ef4\u62a4\u548c\u5730\u9762\u6280\u672f\u652f\u6301\u670d\u52a1\u3002\u516c\u53f8\u8fd8\u751f\u4ea7\u98de\u673a\u5ba2\u8231\u8bbe\u5907\u3001\u7ffb\u65b0\u98de\u673a\u53a8\u623f\uff0c\u5e76\u7ef4\u4fee\u4e0e\u68c0\u4fee\u6db2\u538b\u673a\u68b0\u8bbe\u5907\u3002 \u822a\u73ed\u91cf\u6062\u590d\u63a5\u8fd1\u75ab\u60c5\u524d\u6c34\u5e73\u3002SIAEC \u62a5\u544a\u79f0\uff0c\u622a\u81f32024\/25\u8d22\u5e74\u672b\uff0c\u516c\u53f8\u822a\u7ebf\u7ef4\u62a4\u4e1a\u52a1\u6240\u5904\u7406\u7684\u822a\u73ed\u91cf\u5df2\u8fbe\u5230\u75ab\u60c5\u524d\u6c34\u5e73\u768497%\u3002\u57282025\u5e74\u7b2c\u56db\u5b63\u5ea6\uff0c\u5904\u7406\u7684\u822a\u73ed\u91cf\u8fdb\u4e00\u6b65\u6062\u590d\u81f3\u75ab\u60c5\u524d\u768499%\u3002\u822a\u73ed\u6d3b\u52a8\u589e\u52a0\u5e26\u52a8\u4e86\u98de\u673a\u7ef4\u62a4\u3001\u4fee\u7406\u4e0e\u5927\u4fee\uff08MRO\uff09\u670d\u52a1\u9700\u6c42\u7684\u4e0a\u5347\u3002\u968f\u7740\u66f4\u591a\u822a\u7a7a\u516c\u53f8\u52a0\u5feb\u822a\u73ed\u6062\u590d\uff0c\u5e76\u8fce\u6765\u590f\u5b63\u51fa\u884c\u9ad8\u5cf0\uff0c\u8fd9\u4e00\u589e\u957f\u8d8b\u52bf\u6709\u671b\u6301\u7eed\u3002 \u66f4\u591a\u6536\u5165\u6765\u6e90\u5373\u5c06\u5230\u6765\u3002\u516c\u53f8\u8fd1\u671f\u8bbe\u7acb\u4e86 TIA Engineering Services Co. Ltd\uff0c\u4ee5\u5728\u67ec\u57d4\u5be8\u5373\u5c06\u542f\u7528\u7684\u5fb7\u5d07\u56fd\u9645\u673a\u573a\uff08Techo International Airport\uff09\u63d0\u4f9b\u822a\u7ebf\u7ef4\u62a4\u670d\u52a1\uff0c\u9884\u8ba1\u5c06\u4e8e2025\u5e747\u6708\u5f00\u59cb\u8fd0\u8425\uff0c\u5c4a\u65f6\u516c\u53f8\u822a\u7ebf\u7ef4\u62a4\u7f51\u7edc\u5c06\u6269\u5c55\u81f39\u4e2a\u56fd\u5bb6\u768436\u4e2a\u673a\u573a\u3002\u6b64\u5916\uff0c\u96c6\u56e2\u5168\u8d44\u5b50\u516c\u53f8 Base Maintenance Malaysia Sdn.\" \/>\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-26-may-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 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\u4e9a\u6d32\u5e02\u573a\u6301\u7eed\u5f3a\u52b2\u589e\u957f\u3002\u98df\u54c1\u5e1d\u56fd\u5728\u5176\u6838\u5fc3\u5e02\u573a\u4e8e2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u5b9e\u73b0\u9500\u552e\u6301\u7eed\u589e\u957f\uff0c\u663e\u793a\u51fa\u6d88\u8d39\u8005\u5bf9\u5176\u4ea7\u54c1\u7684\u5f3a\u52b2\u9700\u6c42\uff0c\u5c24\u5176\u662f\u5728\u4e1c\u5357\u4e9a\u548c\u5357\u4e9a\u5730\u533a\uff0c\u57282025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u589e\u957f\u5747\u8d85\u8fc730%\u3002\u96c6\u56e2\u5728\u8d8a\u5357\u7684\u54c1\u724c\u5efa\u8bbe\u53d6\u5f97\u663e\u8457\u6210\u679c\uff0c\u4e0d\u65ad\u6269\u5927\u5728\u8d8a\u5357\u5e02\u573a\u7684\u4efd\u989d\uff0c\u8425\u6536\u540c\u6bd4\u589e\u957f44.6%\u3002\u8fd9\u5927\u5e45\u63d0\u5347\u4e86\u4e1c\u5357\u4e9a\u5e02\u573a\u5bf9 Food Empire 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\u628a\u63e1\u8d8a\u5357\u5e02\u573a\u589e\u957f\u673a\u9047\u3002\u8d8a\u5357\u4ecd\u662f\u98df\u54c1\u5e1d\u56fd\u7684\u6218\u7565\u589e\u957f\u91cd\u70b9\u5e02\u573a\uff0c\u4e5f\u662f\u516c\u53f8\u589e\u957f\u6700\u5feb\u7684\u5e02\u573a\u30022025\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u8d8a\u5357GDP\u540c\u6bd4\u589e\u957f6.93%\uff0c\u5c3d\u7ba1\u73af\u6bd4\u6709\u6240\u653e\u7f13\uff0c\u4f46\u4e3a2020\u5e74\u4ee5\u6765\u7684\u4e00\u5b63\u5ea6\u6700\u9ad8\u589e\u901f\u3002\u4e16\u754c\u94f6\u884c\u9884\u6d4b2025\u5e74\u8d8a\u5357GDP\u5c06\u589e\u957f5.8%\uff0c\u800c\u8d8a\u5357\u56fd\u4f1a\u5219\u8bbe\u5b9a\u4e868%\u7684\u66f4\u9ad8\u76ee\u6807\u3002\u5f3a\u52b2\u7684\u7ecf\u6d4e\u524d\u666f\u5c06\u6709\u5229\u4e8e\u98df\u54c1\u5e1d\u56fd\u5728\u8d8a\u5357\u7684\u6301\u7eed\u6269\u5f20\u3002\u96c6\u56e2\u5728\u8425\u9500\u3001\u6d88\u8d39\u8005\u4e92\u52a8\u548c\u4ea7\u80fd\u65b9\u9762\u7684\u6295\u8d44\u9884\u8ba1\u5c06\u8fdb\u4e00\u6b65\u5de9\u56fa\u5176\u54c1\u724c\u5f71\u54cd\u529b\uff0c\u5e76\u52a9\u529b\u628a\u63e1\u8d8a\u5357\u5feb\u901f\u53d1\u5c55\u7684\u957f\u671f\u589e\u957f\u673a\u9047\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002\u98df\u54c1\u5e1d\u56fd\u62a5\u544a\u79f0\uff0c\u51762025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u8fbe1.366\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f16.3%\uff0c\u76f8\u6bd42024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76841.175\u4ebf\u7f8e\u5143\u5b9e\u73b0\u663e\u8457\u589e\u957f\u3002\u4e1c\u5357\u4e9a\u548c\u5357\u4e9a\u5e02\u573a\u7684\u8425\u6536\u5206\u522b\u589e\u957f33.8%\u548c31.7%\uff0c\u4e3a\u6574\u4f53\u589e\u957f\u63d0\u4f9b\u4e3b\u8981\u52a8\u529b\u3002\u4e4c\u514b\u5170\u3001\u54c8\u8428\u514b\u65af\u5766\u53ca\u72ec\u8054\u4f53\u5e02\u573a\u8425\u6536\u540c\u6bd4\u589e\u957f14.6%\uff0c\u4fc4\u7f57\u65af\u5e02\u573a\u8425\u6536\u5219\u540c\u6bd4\u5c0f\u5e45\u589e\u957f0.5%\u3002\u516c\u53f8\u5728\u6240\u6709\u4e3b\u8981\u5e02\u573a\u5747\u5b9e\u73b0\u8425\u6536\u589e\u957f\uff0c\u663e\u793a\u51fa\u5728\u539f\u6750\u6599\u6210\u672c\u4e0a\u5347\u548c\u5168\u7403\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u6301\u7eed\u7684\u80cc\u666f\u4e0b\uff0c\u6d88\u8d39\u8005\u9700\u6c42\u4f9d\u7136\u5f3a\u52b2\u3002 \u6211\u4eec\u5bf9\u57fa\u672c\u9762\u7684\u8bc4\u7ea7\u4e3a\u4e70\u5165\uff0c\u76ee\u6807\u4ef7\u4e3a 1.95 \u65b0\u5143\u3002\u8bf7\u5728\u8fd9\u91cc\u9605\u8bfb\u62a5\u544a\u5168\u6587\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u822a\u5de5\u7a0b\u6709\u9650\u516c\u53f8 (SIE SP)\uff1a\u98de\u884c\u6d3b\u52a8\u6301\u7eed\u5f3a\u52b2 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.54\uff0c\u76ee\u6807\u4ef7\uff1a2.70\uff0c\u6b62\u635f\u4ef7\uff1a2.46 \u65b0\u822a\u5de5\u7a0b\u6709\u9650\u516c\u53f8\uff08SIA Engineering Co Ltd\uff09\u63d0\u4f9b\u673a\u8eab\u53ca\u90e8\u4ef6\u68c0\u4fee\u670d\u52a1\u3001\u822a\u7ebf\u7ef4\u62a4\u548c\u5730\u9762\u6280\u672f\u652f\u6301\u670d\u52a1\u3002\u516c\u53f8\u8fd8\u751f\u4ea7\u98de\u673a\u5ba2\u8231\u8bbe\u5907\u3001\u7ffb\u65b0\u98de\u673a\u53a8\u623f\uff0c\u5e76\u7ef4\u4fee\u4e0e\u68c0\u4fee\u6db2\u538b\u673a\u68b0\u8bbe\u5907\u3002 \u822a\u73ed\u91cf\u6062\u590d\u63a5\u8fd1\u75ab\u60c5\u524d\u6c34\u5e73\u3002SIAEC \u62a5\u544a\u79f0\uff0c\u622a\u81f32024\/25\u8d22\u5e74\u672b\uff0c\u516c\u53f8\u822a\u7ebf\u7ef4\u62a4\u4e1a\u52a1\u6240\u5904\u7406\u7684\u822a\u73ed\u91cf\u5df2\u8fbe\u5230\u75ab\u60c5\u524d\u6c34\u5e73\u768497%\u3002\u57282025\u5e74\u7b2c\u56db\u5b63\u5ea6\uff0c\u5904\u7406\u7684\u822a\u73ed\u91cf\u8fdb\u4e00\u6b65\u6062\u590d\u81f3\u75ab\u60c5\u524d\u768499%\u3002\u822a\u73ed\u6d3b\u52a8\u589e\u52a0\u5e26\u52a8\u4e86\u98de\u673a\u7ef4\u62a4\u3001\u4fee\u7406\u4e0e\u5927\u4fee\uff08MRO\uff09\u670d\u52a1\u9700\u6c42\u7684\u4e0a\u5347\u3002\u968f\u7740\u66f4\u591a\u822a\u7a7a\u516c\u53f8\u52a0\u5feb\u822a\u73ed\u6062\u590d\uff0c\u5e76\u8fce\u6765\u590f\u5b63\u51fa\u884c\u9ad8\u5cf0\uff0c\u8fd9\u4e00\u589e\u957f\u8d8b\u52bf\u6709\u671b\u6301\u7eed\u3002 \u66f4\u591a\u6536\u5165\u6765\u6e90\u5373\u5c06\u5230\u6765\u3002\u516c\u53f8\u8fd1\u671f\u8bbe\u7acb\u4e86 TIA Engineering Services Co. Ltd\uff0c\u4ee5\u5728\u67ec\u57d4\u5be8\u5373\u5c06\u542f\u7528\u7684\u5fb7\u5d07\u56fd\u9645\u673a\u573a\uff08Techo International Airport\uff09\u63d0\u4f9b\u822a\u7ebf\u7ef4\u62a4\u670d\u52a1\uff0c\u9884\u8ba1\u5c06\u4e8e2025\u5e747\u6708\u5f00\u59cb\u8fd0\u8425\uff0c\u5c4a\u65f6\u516c\u53f8\u822a\u7ebf\u7ef4\u62a4\u7f51\u7edc\u5c06\u6269\u5c55\u81f39\u4e2a\u56fd\u5bb6\u768436\u4e2a\u673a\u573a\u3002\u6b64\u5916\uff0c\u96c6\u56e2\u5168\u8d44\u5b50\u516c\u53f8 Base Maintenance Malaysia Sdn.\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-26-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=\"2025-05-26T07:31:22+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-05-26T07:31:23+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"2025\u5e745\u670826\u65e5: \u98df\u54c1\u5e1d\u56fd (FEH SP), \u4e2d\u5e7f\u6838\u77ff\u4e1a (1164 HK), Nebius Group NV (NBIS 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 \u98df\u54c1\u5e1d\u56fd (FEH SP)\uff1a\u915d\u917f\u4e9a\u6d32\u589e\u957f\u826f\u65b9 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.74\uff0c\u76ee\u6807\u4ef7\uff1a1.88\uff0c\u6b62\u635f\u4ef7\uff1a1.67 \u98df\u54c1\u5e1d\u56fd\u63a7\u80a1\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4ece\u4e8b\u98df\u54c1\u548c\u996e\u6599\u5236\u9020\u4e0e\u5206\u9500\u7684\u516c\u53f8\u3002\u516c\u53f8\u63d0\u4f9b\u7684\u4ea7\u54c1\u5305\u62ec\u7ecf\u5178\u53ca\u98ce\u5473\u5496\u5561\u6df7\u5408\u996e\u54c1\u548c\u5361\u5e03\u5947\u8bfa\u3001\u5de7\u514b\u529b\u996e\u54c1\u3001\u6c34\u679c\u5473\u53ca\u6ce1\u6ce1\u8336\u3001\u8c37\u7269\u6df7\u5408\u996e\u6599\u4ee5\u53ca\u8106\u76ae\u85af\u7247\u7b49\u96f6\u98df\u3002\u98df\u54c1\u5e1d\u56fd\u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002 \u4e9a\u6d32\u5e02\u573a\u6301\u7eed\u5f3a\u52b2\u589e\u957f\u3002\u98df\u54c1\u5e1d\u56fd\u5728\u5176\u6838\u5fc3\u5e02\u573a\u4e8e2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u5b9e\u73b0\u9500\u552e\u6301\u7eed\u589e\u957f\uff0c\u663e\u793a\u51fa\u6d88\u8d39\u8005\u5bf9\u5176\u4ea7\u54c1\u7684\u5f3a\u52b2\u9700\u6c42\uff0c\u5c24\u5176\u662f\u5728\u4e1c\u5357\u4e9a\u548c\u5357\u4e9a\u5730\u533a\uff0c\u57282025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u589e\u957f\u5747\u8d85\u8fc730%\u3002\u96c6\u56e2\u5728\u8d8a\u5357\u7684\u54c1\u724c\u5efa\u8bbe\u53d6\u5f97\u663e\u8457\u6210\u679c\uff0c\u4e0d\u65ad\u6269\u5927\u5728\u8d8a\u5357\u5e02\u573a\u7684\u4efd\u989d\uff0c\u8425\u6536\u540c\u6bd4\u589e\u957f44.6%\u3002\u8fd9\u5927\u5e45\u63d0\u5347\u4e86\u4e1c\u5357\u4e9a\u5e02\u573a\u5bf9 Food Empire 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Ltd\uff0c\u4ee5\u5728\u67ec\u57d4\u5be8\u5373\u5c06\u542f\u7528\u7684\u5fb7\u5d07\u56fd\u9645\u673a\u573a\uff08Techo International Airport\uff09\u63d0\u4f9b\u822a\u7ebf\u7ef4\u62a4\u670d\u52a1\uff0c\u9884\u8ba1\u5c06\u4e8e2025\u5e747\u6708\u5f00\u59cb\u8fd0\u8425\uff0c\u5c4a\u65f6\u516c\u53f8\u822a\u7ebf\u7ef4\u62a4\u7f51\u7edc\u5c06\u6269\u5c55\u81f39\u4e2a\u56fd\u5bb6\u768436\u4e2a\u673a\u573a\u3002\u6b64\u5916\uff0c\u96c6\u56e2\u5168\u8d44\u5b50\u516c\u53f8 Base Maintenance Malaysia 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