{"id":69132,"date":"2025-06-08T22:39:28","date_gmt":"2025-06-08T14:39:28","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=69132"},"modified":"2025-06-08T22:39:29","modified_gmt":"2025-06-08T14:39:29","slug":"kgi-daily-trading-ideas-09-jun-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-09-jun-2025-zh\/","title":{"rendered":"2025\u5e746\u67089\u65e5: \u60a6\u6995\u63a7\u80a1(BTH SP), \u6c5f\u897f\u94dc\u4e1a (358 HK), \u5df4\u514b\u83b1\u94f6\u884c (BCS 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-69132-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<br><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"2106\" height=\"1067\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-game-ai-generated-cont.png\" alt=\"A screenshot of a computer game\n\nAI-generated content may be incorrect.\" class=\"wp-image-69165\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-game-ai-generated-cont.png 2106w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-game-ai-generated-cont-300x152.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-game-ai-generated-cont-1024x519.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-game-ai-generated-cont-768x389.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-game-ai-generated-cont-1536x778.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-game-ai-generated-cont-2048x1038.png 2048w\" sizes=\"(max-width: 2106px) 100vw, 2106px\" \/><\/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\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-6.png\" alt=\"A screen shot of a chart\n\nAI-generated content may be incorrect.\" class=\"wp-image-69166\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-6.png 1071w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-6-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-6-1024x262.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-6-768x196.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\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-7.png\" alt=\"A screen shot of a chart\n\nAI-generated content may be incorrect.\" class=\"wp-image-69167\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-7.png 915w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-7-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screen-shot-of-a-chart-ai-generated-content-may-7-768x237.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\/06\/word-image-69132-4.png\" alt=\"\" class=\"wp-image-69168\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-4-300x64.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-69132-_qqv3rtx8nazp\"><\/a><a id=\"post-69132-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2109\" height=\"1053\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-ai-generated-content-m-12.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-69169\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-ai-generated-content-m-12.png 2109w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-ai-generated-content-m-12-300x150.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-ai-generated-content-m-12-1024x511.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-ai-generated-content-m-12-768x383.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-ai-generated-content-m-12-1536x767.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-ai-generated-content-m-12-2048x1023.png 2048w\" sizes=\"(max-width: 2109px) 100vw, 2109px\" \/><\/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\/06\/word-image-69132-6.png\" alt=\"\" class=\"wp-image-69170\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-6-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\n  <a id=\"post-69132-_7c2gwybbbr90\"><\/a>\n<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-69132-_9i0c554gtu0u\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-7.png\" class=\"wp-image-69171\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong><strong>\u60a6\u6995\u63a7\u80a1(BTH SP)\uff1a\u5f15\u9886\u4e9a\u592a\u5730\u533a\u4e0d\u65ad\u53d8\u5316\u7684\u65c5\u6e38\u683c\u5c40<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.37\uff0c\u76ee\u6807\u4ef7\uff1a0.41\uff0c\u6b62\u635f\u4ef7\uff1a0.35<\/strong><br>  <\/li>\n\n\n\n<li>\u60a6\u6995\u63a7\u80a1\u662f\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u62e5\u6709\u548c\u7ba1\u7406\u9152\u5e97\u96c6\u56e2\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u9152\u5e97\u3001\u5ea6\u5047\u6751\u3001\u6c34\u7597\u4e2d\u5fc3\u3001\u753b\u5eca\u3001\u9ad8\u5c14\u592b\u7403\u573a\u548c\u4f4f\u5b85\uff0c\u540c\u65f6\u63d0\u4f9b\u6295\u8d44\u3001\u8bbe\u8ba1\u3001\u65bd\u5de5\u548c\u9879\u76ee\u7ba1\u7406\u670d\u52a1\u3002\u60a6\u6995\u63a7\u80a1\u5728\u5168\u7403\u8303\u56f4\u5185\u4e3a\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u533a\u57df\u65c5\u6e38\u9700\u6c42\u6fc0\u589e\u3002 <\/strong>\u6839\u636e\u4e07\u4e8b\u8fbe\u5361\u7ecf\u6d4e\u7814\u7a76\u6240\u53d1\u5e03\u7684\u300a2025\u5e74\u65c5\u884c\u8d8b\u52bf\u62a5\u544a\u300b\uff0c\u4e9a\u592a\u5730\u533a\u7ee7\u7eed\u5f15\u9886\u5168\u7403\u590f\u5b63\u65c5\u6e38\uff0c\u5176\u4e2d15\u4e2a\u70ed\u95e8\u76ee\u7684\u5730\u4e2d\u67098\u4e2a\u5728\u8be5\u5730\u533a\uff0c\u5305\u62ec\u4e1c\u4eac\u3001\u5927\u962a\u548c\u65b0\u5174\u70ed\u95e8\u5730\u82bd\u5e84\u3002\u8fd9\u4e00\u52bf\u5934\u5f97\u76ca\u4e8e\u6709\u5229\u7684\u6c47\u7387\u3001\u589e\u5f3a\u7684\u822a\u7a7a\u8fde\u63a5\u6027\u4ee5\u53ca\u5bf9\u5065\u5eb7\u3001\u81ea\u7136\u548c\u7f8e\u98df\u65c5\u6e38\u7684\u9700\u6c42\u4e0a\u5347\u3002\u4e2d\u56fd\u548c\u5370\u5ea6\u6b63\u5904\u4e8e\u51fa\u5883\u65c5\u6e38\u589e\u957f\u7684\u524d\u6cbf\uff0c\u65c5\u884c\u8005\u5bfb\u6c42\u9ad8\u4ef7\u503c\u3001\u6c89\u6d78\u5f0f\u7684\u4f53\u9a8c\u3002\u8fd9\u4e9b\u6d88\u8d39\u8005\u7684\u8f6c\u53d8\u4e0e\u60a6\u6995\u96c6\u56e2\u7684\u54c1\u724c\u7406\u5ff5\u548c\u4ea7\u54c1\u63d0\u4f9b\u76f4\u63a5\u5951\u5408\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u96c6\u56e2\u5728\u4e9a\u592a\u5730\u533a\u7e41\u8363\u7684\u65c5\u6e38\u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u5b9a\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u533a\u57df\u51fa\u884c\u97e7\u6027\u3002 <\/strong>\u4e9a\u6d32\u592a\u5e73\u6d0b\u822a\u7a7a\u534f\u4f1a\uff08AAPA\uff09\u62a5\u544a\u79f0\uff0c2025\u5e744\u6708\u56fd\u9645\u4e58\u5ba2\u540c\u6bd4\u589e\u957f10.5%\uff0c\u6536\u5165\u65c5\u5ba2\u516c\u91cc\uff08RPK\uff09\u589e\u957f12.6%\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u957f\u9014\u65c5\u884c\u9700\u6c42\u3002\u5c3d\u7ba1\u5168\u7403\u8d38\u6613\u9762\u4e34\u6301\u7eed\u538b\u529b\uff0c\u822a\u7a7a\u8d27\u8fd0\u6d41\u91cf\u4ecd\u589e\u957f4.9%\u3002\u8fd9\u4e9b\u6307\u6807\u51f8\u663e\u4e86\u6301\u7eed\u7684\u533a\u57df\u8fde\u63a5\u6027\u548c\u65c5\u6e38\u9700\u6c42\uff0c\u7ee7\u7eed\u652f\u6301\u60a6\u6995\u96c6\u56e2\u7684\u533a\u57df\u6269\u5c55\u3002\u968f\u7740\u56fd\u9645\u5230\u8fbe\u4eba\u6570\u7684\u589e\u52a0\uff0c\u60a6\u6995\u63a7\u80a1\u5728\u4e9a\u592a\u4e3b\u8981\u5e02\u573a\u4e2d\u62e5\u6709\u826f\u597d\u7684\u4f4d\u7f6e\uff0c\u80fd\u591f\u53d7\u76ca\u4e8e\u51fa\u884c\u548c\u6d88\u8d39\u8005\u5bf9\u4f53\u9a8c\u578b\u5962\u534e\u4f4f\u5bbf\u7684\u5174\u8da3\u589e\u52a0\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6218\u7565\u5168\u7403\u6269\u5c55\u3002 <\/strong>\u57282025\u5e74\uff0c\u60a6\u6995\u96c6\u56e2\u901a\u8fc7\u5728\u4e0d\u540c\u5730\u533a\u63a8\u51fa15\u5bb6\u65b0\u9152\u5e97\u548c5\u5bb6\u54c1\u724c\u4f4f\u5b85\uff0c\u52a0\u901f\u5176\u589e\u957f\u3002\u6700\u8fd1\u5728\u65b0\u52a0\u5761\u5f00\u4e1a\u7684Mandai Rainforest Resort\u6807\u5fd7\u7740\u96c6\u56e2\u7684\u7b2c100\u4e2a\u7269\u4e1a\uff0c\u4e5f\u662f\u5176\u5728\u672c\u571f\u5e02\u573a\u7684\u9996\u79c0\u3002\u5176\u4ed6\u91cd\u8981\u53d1\u5c55\u5305\u62ec\u5728\u5766\u6851\u5c3c\u4e9a\u7684\u9996\u4e2a\u975e\u6d32\u91ce\u751f\u52a8\u7269\u56ed\u65c5\u9986Ubuyu\uff0c\u4ee5\u53ca\u5728\u66fc\u8c37\u7684\u7efc\u5408\u751f\u6d3b\u65b9\u5f0f\u4e2d\u5fc3\u3002\u52a0\u52d2\u6bd4\u5730\u533a\u548c\u4e9a\u6d32\u3001\u4e2d\u56fd\u3001\u97e9\u56fd\u3001\u6cf0\u56fd\u548c\u83f2\u5f8b\u5bbe\u7684\u6269\u5c55\uff0c\u7a81\u663e\u4e86\u96c6\u56e2\u7684\u591a\u54c1\u724c\u6218\u7565\uff0c\u4e13\u6ce8\u4e8e\u63d0\u4f9b\u771f\u5b9e\u7684\u3001\u672c\u5730\u7075\u611f\u7684\u6b3e\u5f85\u3002\u8fd9\u4e00\u5168\u7403\u7ba1\u7ebf\u4f7f\u60a6\u6995\u63a7\u80a1\u80fd\u591f\u6ee1\u8db3\u5bf9\u6709\u610f\u4e49\u7684\u76ee\u7684\u5730\u9a71\u52a8\u65c5\u6e38\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002 <\/strong>\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u7684\u8425\u6536\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u7531\u4e8e\u6240\u6709\u4e1a\u52a1\u90e8\u95e8\u7684\u5f3a\u52b2\u589e\u957f\u3002\u8425\u4e1a\u5229\u6da6\u589e\u52a0\u4e861310\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u8fbe\u5230\u4e861.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u529f\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u66f4\u9ad8\u8d21\u732e\u3002\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece0.037\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f30.049\u65b0\u52a0\u5761\u5143\u3002\u622a\u81f32024\u8d22\u5e74\uff0c\u96c6\u56e2\u572822\u4e2a\u56fd\u5bb6\u5171\u8bb0\u5f5591\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u5bb6\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u65b0\u5f00\u4e1a17\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\uff0c\u5176\u4e2d\u5728\u65e5\u672c\u548c\u97e9\u56fd\u67096\u5bb6\uff0c\u5728\u4e2d\u56fd\u67098\u5bb6\uff0c\u4f5c\u4e3a\u96c6\u56e2\u5728\u4e9a\u6d32\u7684\u591a\u54c1\u724c\u6269\u5c55\u6218\u7565\u7684\u4e00\u90e8\u5206\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-69172\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-8.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-8.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-8-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-9.jpeg\" alt=\"\" class=\"wp-image-69173\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-9.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-9-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-9-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-9-768x370.jpeg 768w\" sizes=\"(max-width: 1195px) 100vw, 1195px\" \/><\/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\/06\/a-long-line-of-a-white-background-description-aut-7.png\" class=\"wp-image-69174\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-long-line-of-a-white-background-description-aut-7.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-long-line-of-a-white-background-description-aut-7-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure> <\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>\u5409\u5b9d\u4f01\u4e1a (KEP SP): \u8d4b\u80fd\u667a\u6167\u4e0e\u7eff\u8272\u672a\u6765<\/strong><\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a6.9\uff0c\u76ee\u6807\u4ef7\uff1a7.5\uff0c\u6b62\u635f\u4ef7\uff1a6.6<\/strong><br>  <\/li>\n\n\n\n<li>\u5409\u5b9d\u4f01\u4e1a\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u8d44\u4ea7\u7ba1\u7406\u548c\u8fd0\u8425\u5546\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u80fd\u6e90\u4e0e\u73af\u5883\u3001\u57ce\u5e02\u53d1\u5c55\u548c\u6570\u5b57\u4e92\u8054\u4e92\u901a\u9886\u57df\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u89e3\u51b3\u65b9\u6848\uff0c\u5e76\u901a\u8fc7\u5176\u6295\u8d44\u5e73\u53f0\u548c\u8d44\u4ea7\u7ec4\u5408\u63d0\u4f9b\u5173\u952e\u57fa\u7840\u8bbe\u65bd\u548c\u670d\u52a1\u3002\u5409\u5b9d\u4f01\u4e1a\u670d\u52a1\u5168\u7403\u5ba2\u6237\u3002<br>  <\/li>\n\n\n\n<li><strong>\u533a\u57df\u4f9b\u51b7\u7cfb\u7edf\u62d3\u5c55\u81f3\u533b\u7597\u9886\u57df\u3002 <\/strong>\u5409\u5b9d\u4f01\u4e1a\u6b63\u5728\u63a2\u7d22\u5c06\u5176\u5728\u88d5\u5eca\u6e56\u533a\u5373\u5c06\u5efa\u6210\u7684\u533a\u57df\u4f9b\u51b7\u7cfb\u7edf (DCS) \u4e0e\u9ec4\u5ef7\u65b9\u7efc\u5408\u533b\u9662\u548c\u88d5\u5eca\u793e\u533a\u533b\u9662\u6574\u5408\u3002\u5982\u679c\u5f97\u4ee5\u5b9e\u65bd\uff0c\u8fd9\u5c06\u6807\u5fd7\u7740\u65b0\u52a0\u5761\u9996\u6b21\u5728\u533b\u7597\u91cd\u5efa\u9879\u76ee\u4e2d\u90e8\u7f72 DCS\uff0c\u4ece\u800c\u63d0\u9ad8\u80fd\u6e90\u6548\u7387\u3001\u8fd0\u8425\u5f39\u6027\uff0c\u5e76\u817e\u51fa\u5173\u952e\u7a7a\u95f4\u7528\u4e8e\u60a3\u8005\u62a4\u7406\u3002\u8fd9\u4f7f\u5f97\u5409\u5b9d\u4f01\u4e1a\u5728\u4efb\u52a1\u5173\u952e\u578b\u9886\u57df\u7684\u53ef\u6301\u7eed\u57fa\u7840\u8bbe\u65bd\u65b9\u9762\u5904\u4e8e\u9886\u5148\u5730\u4f4d\uff0c\u5e76\u6709\u671b\u5728\u4f4e\u78b3\u57ce\u5e02\u516c\u7528\u4e8b\u4e1a\u9700\u6c42\u4e0d\u65ad\u589e\u957f\u7684\u60c5\u51b5\u4e0b\uff0c\u5728\u533a\u57df\u8303\u56f4\u5185\u63a8\u5e7f DCS \u89e3\u51b3\u65b9\u6848\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0e\u534e\u4e3a\u5efa\u7acb\u6218\u7565\u80fd\u6e90\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u3002 <\/strong>\u5409\u5b9d\u4f01\u4e1a\u4e0e\u534e\u4e3a\u5408\u4f5c\uff0c\u65e8\u5728\u5171\u540c\u5f00\u53d1\u4e1c\u5357\u4e9a\u5730\u533a\u7684\u592a\u9633\u80fd\u5149\u4f0f\u548c\u7535\u6c60\u50a8\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u76ee\u6807\u662f\u4e92\u8054\u7535\u7f51\u3001\u6570\u636e\u4e2d\u5fc3\u548c\u5de5\u4e1a\u56ed\u533a\u3002\u901a\u8fc7\u5b9e\u65f6\u7cfb\u7edf\u76d1\u63a7\u548c\u667a\u80fd\u9700\u6c42\u54cd\u5e94\u8ba1\u5212\uff0c\u8be5\u4e3e\u63aa\u53ef\u63d0\u9ad8\u7535\u7f51\u7a33\u5b9a\u6027\u548c\u53ef\u518d\u751f\u80fd\u6e90\u6548\u7387\u3002\u968f\u7740\u4e1c\u5357\u4e9a\u52a0\u901f\u80fd\u6e90\u8f6c\u578b\uff0c\u6b64\u6b21\u5408\u4f5c\u5de9\u56fa\u4e86\u5409\u5b9d\u4f01\u4e1a\u4f5c\u4e3a\u533a\u57df\u667a\u80fd\u3001\u4f4e\u78b3\u80fd\u6e90\u57fa\u7840\u8bbe\u65bd\u9886\u5bfc\u8005\u7684\u5730\u4f4d\uff0c\u5177\u6709\u957f\u671f\u589e\u957f\u6f5c\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 <\/strong>\u5409\u5b9d\u4f01\u4e1a\u516c\u5e03\uff0c\u5254\u9664\u539f\u6709 O&M \u8d44\u4ea7\uff0c\u516c\u53f8\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f 25%\uff0c\u8fd9\u5f97\u76ca\u4e8e\u57fa\u7840\u8bbe\u65bd\u4e1a\u52a1\u7684\u5f3a\u52b2\u7a33\u5b9a\u8868\u73b0\u3001\u623f\u5730\u4ea7\u4e1a\u52a1\u8d21\u732e\u589e\u52a0\u4ee5\u53ca\u8d44\u4ea7\u7ba1\u7406\u4e1a\u52a1\u7684\u66f4\u4f73\u8868\u73b0\u3002\u5254\u9664\u539f\u6709\u8d44\u4ea7\uff0c\u7ecf\u5e38\u6027\u6536\u5165\u5360\u5409\u5b9d\u4f01\u4e1a 2025 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u51c0\u5229\u6da6\u7684 80% \u4ee5\u4e0a\u3002\u8d44\u4ea7\u7ba1\u7406\u8d39\u4ece 2024 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684 8800 \u4e07\u65b0\u5143\u589e\u957f 9% \u81f3 9600 \u4e07\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-69175\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-object-with-white-tex-3.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\/06\/a-blue-and-white-rectangular-object-with-white-tex-3.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-object-with-white-tex-3-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><img loading=\"lazy\" decoding=\"async\" width=\"1078\" height=\"596\" class=\"wp-image-69176\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-4.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-4.jpeg 1078w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-4-300x166.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-4-1024x566.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-4-768x425.jpeg 768w\" sizes=\"(max-width: 1078px) 100vw, 1078px\" \/> <\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-13.png\" class=\"wp-image-69177\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-13-300x64.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-69132-_f3bvj0c8rd86\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-14.png\" class=\"wp-image-69178\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><a id=\"post-69132-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u6c5f\u897f\u94dc\u4e1a (358 HK)\uff1a\u7ecf\u6d4e\u4e50\u89c2<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a14.0\uff0c\u76ee\u6807\u4ef7\uff1a16.0\uff0c\u6b62\u635f\u4ef7\uff1a13.0<\/strong><br>  <\/li>\n\n\n\n<li>\u6c5f\u897f\u94dc\u4e1a\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u94dc\u548c\u9ec4\u91d1\u7684\u91c7\u9009\u3001\u51b6\u70bc\u4e0e\u52a0\u5de5\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u901a\u8fc7\u4e24\u4e2a\u5206\u90e8\u5f00\u5c55\u4e1a\u52a1\u3002\u94dc\u76f8\u5173\u4ea7\u4e1a\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u94dc\u53ca\u94dc\u76f8\u5173\u4ea7\u54c1\u7684\u751f\u4ea7\u548c\u9500\u552e\u3002\u91d1\u76f8\u5173\u4ea7\u4e1a\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u91d1\u53ca\u91d1\u76f8\u5173\u4ea7\u54c1\u7684\u751f\u4ea7\u548c\u9500\u552e\u3002\u8be5\u516c\u53f8\u7684\u4ea7\u54c1\u4e3b\u8981\u5305\u62ec\u9634\u6781\u94dc\u3001\u9ec4\u91d1\u3001\u767d\u94f6\u3001 \u786b\u9178\u3001\u94dc\u6746\u3001\u94dc\u7ba1\u3001\u94dc\u7b94\u3001\u7852\u3001\u78b2\u3001\u94fc\u548c\u94cb\u3002\u8be5\u516c\u53f8\u7684\u4ea7\u54c1\u4e3b\u8981\u5e94\u7528\u4e8e\u7535\u6c14\u3001\u7535\u5b50\u3001\u8f7b\u5de5\u3001\u673a\u68b0\u5236\u9020\u3001\u5efa\u7b51\u3001\u4ea4\u901a\u3001\u519b\u5de5\u5de5\u4e1a\u7b49\u884c\u4e1a\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u4e50\u89c2\u60c5\u7eea\u56e0\u7279\u6717\u666e\u901a\u8bdd\u800c\u5347\u6e29\u3002<\/strong>\u6295\u8d44\u8005\u60c5\u7eea\u5728\u4e0a\u5468\u56db\u7f8e\u56fd\u603b\u7edf\u5510\u7eb3\u5fb7\u00b7\u7279\u6717\u666e\u4e0e\u4e2d\u56fd\u56fd\u5bb6\u4e3b\u5e2d\u4e60\u8fd1\u5e73\u901a\u8bdd\u540e\u6709\u6240\u6539\u5584\u3002\u4e24\u56fd\u9886\u5bfc\u4eba\u540c\u610f\u6062\u590d\u8d38\u6613\u8c08\u5224\uff0c\u4ee5\u907f\u514d\u5168\u9762\u7684\u5173\u7a0e\u6218\u3002\u636e\u62a5\u9053\uff0c\u53cc\u65b9\u8ba8\u8bba\u4e86\u5173\u952e\u95ee\u9898\uff0c\u4f8b\u5982\u7a00\u571f\u6750\u6599\u5173\u7a0e\u3001\u7f8e\u56fd\u5bf9\u82af\u7247\u51fa\u53e3\u7684\u9650\u5236\u4ee5\u53ca\u5b66\u751f\u7b7e\u8bc1\u7684\u9650\u5236\u3002\u7279\u6717\u666e\u79f0\u8fd9\u6b21\u901a\u8bdd\u201c\u975e\u5e38\u597d\u201d\uff0c\u8fd9\u6709\u52a9\u4e8e\u7f13\u89e3\u4eba\u4eec\u5bf9\u957f\u671f\u8d38\u6613\u7d27\u5f20\u5c40\u52bf\u7684\u62c5\u5fe7\uff0c\u5e76\u63d0\u5347\u4e86\u5bf9\u8fd1\u671f\u89e3\u51b3\u65b9\u6848\u7684\u5e0c\u671b\u3002\u8fd9\u79cd\u91cd\u71c3\u7684\u4e50\u89c2\u60c5\u7eea\u4e5f\u63d0\u632f\u4e86\u533a\u57df\u80a1\u5e02\uff0c\u5e76\u6709\u671b\u5728\u5bf9\u7ecf\u6d4e\u6d3b\u52a8\u8d70\u5f3a\u7684\u9884\u671f\u4e0b\u652f\u6491\u94dc\u4ef7\u3002<br>  <\/li>\n\n\n\n<li><strong>\u957f\u671f\u94dc\u9700\u6c42\u9884\u8ba1\u5c06\u8d85\u8fc7\u4f9b\u5e94\u3002<\/strong>\u56fd\u9645\u80fd\u6e90\u7f72\uff08IEA\uff09\u9884\u6d4b\uff0c\u52302035\u5e74\uff0c\u5168\u7403\u94dc\u4f9b\u5e94\u5c06\u51fa\u73b0\u663e\u8457\u7f3a\u53e3\uff0c\u4f30\u8ba1\u4f9b\u5e94\u53ef\u80fd\u843d\u540e\u9700\u6c42\u591a\u8fbe30%\u3002\u53d7\u53ef\u518d\u751f\u80fd\u6e90\u3001\u7535\u52a8\u6c7d\u8f66\uff08EV\uff09\u548c\u6570\u5b57\u57fa\u7840\u8bbe\u65bd\u52a0\u901f\u666e\u53ca\u7684\u63a8\u52a8\uff0c\u9884\u8ba12025\u5e74\u5168\u7403\u94dc\u9700\u6c42\u5c06\u589e\u957f\u7ea62%\u3002\u4f5c\u4e3a\u51e0\u4e4e\u6240\u6709\u7535\u6c14\u7cfb\u7edf\u4e2d\u7684\u5173\u952e\u6750\u6599\uff0c\u94dc\u5c06\u9762\u4e34\u6301\u7eed\u7684\u9700\u6c42\u589e\u957f\uff0c\u4ece\u800c\u5bf9\u5176\u4ef7\u683c\u6784\u6210\u4e0a\u884c\u538b\u529b\u3002\u9274\u4e8e\u4e2d\u56fd\u5904\u7406\u4e86\u5168\u7403\u524d20\u79cd\u80fd\u6e90\u8f6c\u578b\u77ff\u7269\uff08\u5305\u62ec\u94dc\uff09\u4e2d70%\u4ee5\u4e0a\u7684\u4ea7\u91cf\uff0c\u6c5f\u897f\u94dc\u4e1a\u7b49\u4e2d\u56fd\u751f\u4ea7\u5546\u6709\u671b\u4ece\u5e02\u573a\u7d27\u7f29\u548c\u4ef7\u683c\u4e0a\u6da8\u4e2d\u53d7\u76ca\u3002<br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u94dc\u4ef7<\/strong>\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1220\" height=\"595\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-15.jpeg\" alt=\"\" class=\"wp-image-69179\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-15.jpeg 1220w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-15-300x146.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-15-1024x499.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-15-768x375.jpeg 768w\" sizes=\"(max-width: 1220px) 100vw, 1220px\" \/><\/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>\u589e\u6301SolGold\u80a1\u4efd\uff0c\u6709\u671b\u83b7\u53d6\u6218\u7565\u8d44\u6e90\u3002<\/strong>\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0c\u6c5f\u897f\u94dc\u4e1a\u6536\u8d2d\u4e86\u7ea61.57\u4ebf\u80a1SolGold\u80a1\u4efd\u3002\u4ea4\u6613\u5b8c\u6210\u540e\uff0c\u6c5f\u897f\u94dc\u4e1a\u901a\u8fc7\u5176\u5b50\u516c\u53f8\u6c5f\u897f\u94dc\u4e1a\uff08\u9999\u6e2f\uff09\u6295\u8d44\u6709\u9650\u516c\u53f8\uff0c\u5c06\u5176\u5728SolGold\u7684\u6301\u80a1\u6bd4\u4f8b\u4ece6.95%\u63d0\u5347\u81f312.19%\u3002\u968f\u7740\u6301\u80a1\u6bd4\u4f8b\u7684\u63d0\u5347\uff0c\u6c5f\u897f\u94dc\u4e1a\u4e0d\u4ec5\u62e5\u6709\u66f4\u5927\u7684\u80a1\u6743\u4efd\u989d\uff0c\u8fd8\u5c06\u5728SolGold\u7684\u51b3\u7b56\u4e2d\u62e5\u6709\u66f4\u5927\u5f71\u54cd\u529b\u3002\u8fd9\u4e00\u4e3e\u63aa\u5bf9Cascabel\u9879\u76ee\u2014\u2014\u4e00\u4e2a\u91cd\u8981\u7684\u94dc\/\u91d1\u77ff\u8d44\u6e90\u9879\u76ee\u2014\u2014\u5c24\u4e3a\u5173\u952e\u3002\u8fd9\u4e00\u6218\u7565\u6027\u589e\u6301\u884c\u4e3a\u4e0e\u6c5f\u897f\u94dc\u4e1a\u83b7\u53d6\u5173\u952e\u94dc\u8d44\u6e90\u7684\u76ee\u6807\u9ad8\u5ea6\u4e00\u81f4\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u8d22\u5e74\u7b2c\u4e00\u5b63\u4e1a\u7ee9\u3002<\/strong>2025\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u516c\u53f8\u5b9e\u73b0\u8425\u4e1a\u6536\u5165\u4eba\u6c11\u5e011,116\u4ebf\u5143\uff0c\u540c\u6bd4\u4e0b\u964d8.90%\uff082024\u8d22\u5e74\u540c\u671f\u4e3a\u4eba\u6c11\u5e011,225\u4ebf\u5143\uff09\u3002\u5f52\u6bcd\u51c0\u5229\u6da6\u8fbe\u4eba\u6c11\u5e0124.8\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f37.1%\uff082024\u8d22\u5e74\u540c\u671f\u4e3a\u4eba\u6c11\u5e0118.1\u4ebf\u5143\uff09\u3002\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u4e3a\u4eba\u6c11\u5e010.57\u5143\uff0c\u9ad8\u4e8e2024\u8d22\u5e74\u540c\u671f\u7684\u4eba\u6c11\u5e010.50\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-69180\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-16.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-16.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-16-300x64.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=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-17.jpeg\" alt=\"\" class=\"wp-image-69181\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-17.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-17-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-17-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-17-768x370.jpeg 768w\" sizes=\"(max-width: 1195px) 100vw, 1195px\" \/><\/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\/06\/word-image-69132-18.png\" class=\"wp-image-69182\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-18.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-18-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u79fb\u5361 (9923 HK): \u7a33\u5b9a\u5e01\u4f5c\u4e3a\u8de8\u5883\u652f\u4ed8\u5de5\u5177<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a13.6\uff0c\u76ee\u6807\u4ef7\uff1a15.6\uff0c\u6b62\u635f\u4ef7\uff1a12.6<\/strong><br>  <\/li>\n\n\n\n<li>\u79fb\u5361\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u8be5\u516c\u53f8\u4ece\u4e8b\u4e3a\u96f6\u552e\u5546\u6237\u53ca\u6d88\u8d39\u8005\u63d0\u4f9b\u4e00\u7ad9\u5f0f\u652f\u4ed8\u670d\u52a1\u3001\u5546\u6237\u89e3\u51b3\u65b9\u6848\u53ca\u5230\u5e97\u7535\u5546\u670d\u52a1\u3002\u4e00\u7ad9\u5f0f\u652f\u4ed8\u670d\u52a1\u5c06\u5546\u6237\u8fde\u63a5\u81f3\u6e05\u7b97\u673a\u6784\uff0c\u4e3a\u5546\u6237\u63d0\u4f9b\u4e00\u7ad9\u5f0f\u652f\u4ed8\u670d\u52a1\uff0c\u5e2e\u52a9\u5546\u6237\u63a5\u6536\u5ba2\u6237\u7684\u975e\u73b0\u91d1\u4ed8\u6b3e\u3002\u5546\u5bb6\u89e3\u51b3\u65b9\u6848\u670d\u52a1\u3002\u5546\u5bb6\u89e3\u51b3\u65b9\u6848\u670d\u52a1\u5305\u62ec\u63d0\u4f9b\u5404\u79cd\u7279\u5b9a\u573a\u666f\u529f\u80fd\u4e0e\u652f\u4ed8\u670d\u52a1\u3001\u6570\u636e\u5206\u6790\u670d\u52a1\u76f8\u7ed3\u5408\u7684SaaS\u4ea7\u54c1\uff0c\u6839\u636e\u5ba2\u6237\u9700\u6c42\u5b9a\u5236\u7684\u5177\u6709\u64cd\u4f5c\u7cfb\u7edf\u7684SaaS\u7ec8\u7aef\uff0c\u4ee3\u7406\u670d\u52a1\uff1b\u5728\u7ebf\u8425\u9500\u670d\u52a1\uff0c\u6280\u672f\u670d\u52a1\uff0c\u53ca\u5c0f\u989d\u8d37\u6b3e\u670d\u52a1\u3002\u8be5\u96c6\u56e2\u4ea6\u63d0\u4f9b\u5230\u5e97\u7535\u5546\u670d\u52a1\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u4e2d\u56fd\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u9999\u6e2f\u7a33\u5b9a\u5e01\u6709\u671b\u6210\u4e3a\u8de8\u5883\u652f\u4ed8\u89e3\u51b3\u65b9\u6848\u3002<\/strong>\u9999\u6e2f\u8fd1\u671f\u5ba3\u5e03\u5728\u7a33\u5b9a\u5e01\u76d1\u7ba1\u65b9\u9762\u53d6\u5f97\u8fdb\u5c55\uff0c\u65b0\u7acb\u6cd5\u5c06\u4e8e\u4eca\u5e74\u665a\u4e9b\u65f6\u5019\u751f\u6548\u3002\u6839\u636e\u5373\u5c06\u51fa\u53f0\u7684\u6cd5\u5f8b\uff0c\u53d1\u884c\u65b9\u5fc5\u987b\u83b7\u5f97\u9999\u6e2f\u91d1\u878d\u7ba1\u7406\u5c40\uff08HKMA\uff09\u7684\u8bb8\u53ef\uff0c\u5e76\u9075\u5b88\u4e25\u683c\u7684\u8981\u6c42\uff0c\u5305\u62ec\u4e0e\u51c6\u5907\u91d1\u8d44\u4ea7\u548c\u8fd0\u8425\u6807\u51c6\u76f8\u5173\u7684\u89c4\u5b9a\u3002\u8fd9\u4e9b\u7a33\u5b9a\u5e01\u6709\u671b\u6210\u4e3a\u8de8\u5883\u652f\u4ed8\u7684\u5173\u952e\u63a8\u52a8\u529b\uff0c\u5c24\u5176\u6709\u5229\u4e8e\u9999\u6e2f\u7684\u53d1\u884c\u65b9\u548c\u5728\u56fd\u9645\u4e0a\u62d3\u5c55\u4e1a\u52a1\u7684\u4e2d\u56fd\u4f01\u4e1a\u3002\u7a33\u5b9a\u5e01\u6709\u6f5c\u529b\u5c06\u7ed3\u7b97\u65f6\u95f4\u4ece\u6570\u5929\u7f29\u77ed\u81f3\u6570\u5206\u949f\uff0c\u65e8\u5728\u89e3\u51b3\u8de8\u5883\u4ea4\u6613\u4e2d\u957f\u671f\u5b58\u5728\u7684\u4f4e\u6548\u7387\u95ee\u9898\uff0c\u4f8b\u5982\u9ad8\u6210\u672c\u3001\u5ef6\u8fdf\u548c\u6709\u9650\u7684\u900f\u660e\u5ea6\u3002\u652f\u4ed8\u57fa\u7840\u8bbe\u65bd\u7684\u8fd9\u79cd\u7ed3\u6784\u6027\u6539\u8fdb\u6709\u671b\u523a\u6fc0\u5bf9\u8de8\u5883\u652f\u4ed8\u670d\u52a1\u7684\u9700\u6c42\uff0c\u4ece\u800c\u76f4\u63a5\u60e0\u53ca\u63d0\u4f9b\u7efc\u5408\u652f\u4ed8\u89e3\u51b3\u65b9\u6848\u3001\u5546\u6237\u670d\u52a1\u548c\u5e97\u5185\u7535\u5b50\u5546\u52a1\u80fd\u529b\u7684\u79fb\u5361\u3002<br>  <\/li>\n\n\n\n<li><strong>\u652f\u4ed8\u724c\u7167\u7684\u62d3\u5c55\u5c06\u52a0\u901f\u5168\u7403\u589e\u957f\u3002<\/strong>\u79fb\u5361\u8fd1\u671f\u5ba3\u5e03\u5df2\u83b7\u5f97\u7f8e\u56fd\u4e9a\u5229\u6851\u90a3\u5dde\u91d1\u878d\u76d1\u7ba1\u673a\u6784\u9881\u53d1\u7684\u6c47\u6b3e\u6267\u7167\uff08MTL\uff09\u3002\u6b64\u524d\uff0c\u516c\u53f8\u5df2\u83b7\u5f97\u8d27\u5e01\u670d\u52a1\u4f01\u4e1a\uff08MSB\uff09\u724c\u7167\uff0c\u8fd9\u6807\u5fd7\u7740\u516c\u53f8\u56fd\u9645\u6269\u5f20\u6218\u7565\u7684\u53c8\u4e00\u4e2a\u91cd\u8981\u91cc\u7a0b\u7891\u3002\u901a\u8fc7\u83b7\u5f97\u8fd9\u4e24\u9879\u724c\u7167\uff0c\u79fb\u5361\u76ee\u524d\u5df2\u5177\u5907\u5728\u7f8e\u56fd\u63d0\u4f9b\u5b89\u5168\u3001\u5408\u89c4\u548c\u9ad8\u6548\u652f\u4ed8\u670d\u52a1\u7684\u8d44\u8d28\uff0c\u8fd9\u5c06\u652f\u6301\u5176\u62d3\u5c55\u6d77\u5916\u5e02\u573a\u7684\u66f4\u5e7f\u6cdb\u76ee\u6807\u3002<br>  <\/li>\n\n\n\n<li><strong>\u878d\u8d44\u52a9\u529b\u6218\u7565\u4e3e\u63aa\u3002<\/strong>\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0c\u79fb\u5361\u6210\u529f\u7b79\u96c6\u4e862500\u4e07\u7f8e\u5143\u80a1\u672c\u3002\u5176\u4e2d\u7ea640%\u7684\u8d44\u91d1\u5c06\u7528\u4e8e\u62d3\u5c55\u516c\u53f8\u5728\u4e9a\u6d32\u7684\u4e1a\u52a1\uff0c\u53e6\u670940%\u5c06\u6295\u8d44\u4e8e\u7814\u53d1\u2014\u2014\u7279\u522b\u662f\u5728\u5176\u4e13\u6709\u5e73\u53f0\u4e2d\u6574\u5408\u4eba\u5de5\u667a\u80fd\u3002\u8fd9\u4e9b\u6295\u8d44\u6709\u671b\u63d0\u5347\u79fb\u5361\u7684\u6570\u5b57\u751f\u6001\u7cfb\u7edf\u5e76\u652f\u6301\u957f\u671f\u589e\u957f\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2025\u8d22\u5e74\u6536\u5165\u540c\u6bd4\u4e0b\u964d21.9%\u81f3\u4eba\u6c11\u5e0130.9\u4ebf\u5143\uff0c\u800c2024\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e0139.5\u4ebf\u5143\u30022025\u8d22\u5e74\u51c0\u5229\u6da6\u589e\u81f3\u4eba\u6c11\u5e017300\u4e07\u5143\uff0c\u800c2024\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e011010\u4e07\u5143\u30022025\u8d22\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f3\u4eba\u6c11\u5e010.22\u5143\uff0c\u800c2024\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e010.03\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-69183\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-box-with-white-text-9.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\/06\/a-blue-and-white-rectangular-box-with-white-text-9.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-box-with-white-text-9-300x64.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=\"1078\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/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-69184\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-price-ai-generated-content-may-1.jpeg 1078w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-price-ai-generated-content-may-1-300x166.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-price-ai-generated-content-may-1-1024x566.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-price-ai-generated-content-may-1-768x425.jpeg 768w\" sizes=\"(max-width: 1078px) 100vw, 1078px\" \/><\/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\/06\/word-image-69132-21.png\" alt=\"\" class=\"wp-image-69185\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-21.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-21-300x64.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-69132-_6xzuwbi3dcr\"><\/a><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"827\" height=\"105\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-22.png\" class=\"wp-image-69186\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-22.png 827w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-22-300x38.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-22-768x98.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u5df4\u514b\u83b1\u94f6\u884c (BCS US)\uff1a\u8d37\u6b3e\u7c3f\u63a8\u52a8\u589e\u957f<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a18.0 \u76ee\u6807\u4ef7\uff1a19.4 \u6b62\u635f\u4ef7\uff1a17.3<\/strong><br>  <\/li>\n\n\n\n<li>\u5df4\u514b\u83b1\u94f6\u884c\u662f\u4e00\u5bb6\u603b\u90e8\u4f4d\u4e8e\u82f1\u56fd\u4f26\u6566\u7684\u5168\u7403\u6027\u91d1\u878d\u673a\u6784\uff0c\u63d0\u4f9b\u591a\u6837\u5316\u7684\u91d1\u878d\u670d\u52a1\uff0c\u5305\u62ec\u96f6\u552e\u94f6\u884c\u3001\u4fe1\u7528\u5361\u3001\u6279\u53d1\u94f6\u884c\u3001\u6295\u8d44\u94f6\u884c\u3001\u8d22\u5bcc\u7ba1\u7406\u3001\u6295\u8d44\u7ba1\u7406\u3001\u5404\u7c7b\u653e\u6b3e\u4ea7\u54c1\u548c\u8bc1\u5238\u4ea4\u6613\u3002<br>  <\/li>\n\n\n\n<li><strong>\u82f1\u56fd\u8fdb\u5165\u964d\u606f\u5468\u671f\u3002<\/strong>\u82f1\u56fd\u592e\u884c\u57285\u6708\u5c06\u57fa\u51c6\u5229\u7387\u4e0b\u8c0325\u4e2a\u57fa\u70b9\u81f34.25%\uff0c\u8fd9\u662f\u81ea2024\u5e748\u6708\u4ee5\u6765\u7684\u7b2c\u56db\u6b21\u964d\u606f\u3002\u82f1\u56fd\u901a\u80c0\u5448\u4e0b\u964d\u8d8b\u52bf\uff0c\u8d27\u5e01\u653f\u7b56\u8f6c\u5411\u5bbd\u677e\u3002\u6b64\u5916\uff0c\u82f1\u56fd\u7684\u7b2c\u4e00\u5b63\u5ea6\u589e\u957f\u7387\u5728\u4e03\u56fd\u96c6\u56e2\u4e2d\u4f4d\u5c45\u9996\u4f4d\uff0c\u8fbe\u5230\u4e860.71%\u3002<br>  <\/li>\n\n\n\n<li><strong>\u82f1\u56fd\u6309\u63ed\u8d37\u6b3e\u9700\u6c42\u5f3a\u52b2\u3002<\/strong>\u6839\u636eEY ITEM Club\u7684\u9884\u6d4b\uff0c2025\u5e74\u82f1\u56fd\u6309\u63ed\u8d37\u6b3e\u589e\u957f\u7387\u5c06\u4ece2024\u5e74\u76841.5%\u4e0a\u5347\u81f33.1%\uff0c\u663e\u793a\u51fa\u5e02\u573a\u6d3b\u52a8\u7684\u56de\u6696\u3002UK Finance\u9884\u8ba1\uff0c2025\u5e74\u603b\u6309\u63ed\u8d37\u6b3e\u989d\u5c06\u8fbe\u52302600\u4ebf\u82f1\u9551\uff0c\u5176\u4e2d\u8d2d\u623f\u8d37\u6b3e\u4e3a1480\u4ebf\u82f1\u9551\uff0c\u91cd\u8d37\u6d3b\u52a8\u9884\u8ba1\u589e\u957f30%\uff0c\u8fbe\u5230760\u4ebf\u82f1\u9551\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6309\u63ed\u8d37\u6b3e\u7c3f\u589e\u901f\u660e\u663e\u3002<\/strong>\u5df4\u514b\u83b1\u7684\u6309\u63ed\u8d37\u6b3e\u7c3f\u5728\u8fc7\u53bb\u51e0\u4e2a\u5b63\u5ea6\u589e\u957f\u8f83\u5feb\u300225\u8d22\u5e74\u7b2c\u4e00\u5b63\u8d37\u6b3e\u603b\u989d\u8fbe\u523085\u4ebf\u82f1\u9551\uff0c\u4e3a\u4e09\u5e74\u5185\u6700\u9ad8\u6c34\u5e73\u3002\u8be5\u884c\u7ef4\u6301\u63d0\u9ad8\u6309\u63ed\u4fe1\u8d37\u98ce\u9669\u7b56\u7565\uff0c\u5728\u7b2c\u4e00\u5b63\u4e2d\u9ad8\u8d37\u6b3e\u6210\u6570\uff08\u5373\u8d37\u6b3e\u6210\u6570\u8fbe\u523085%\u6216\u4ee5\u4e0a\uff09\u7684\u6bd4\u4f8b\u5df2\u4e0a\u5347\u81f322%\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>25\u8d22\u5e74\u7b2c\u4e00\u5b63\u8425\u6536\u540c\u6bd4\u589e\u52a011%\u81f377.1\u4ebf\u82f1\u9551\u3002\u7a0e\u524d\u5229\u6da6\u540c\u6bd4\u589e\u957f19%\u81f327\u4ebf\u82f1\u9551\uff0c\u8d85\u51fa\u5e02\u573a\u9884\u671f\u768424.9\u4ebf\u82f1\u9551\u3002\u6bcf\u80a1\u76c8\u5229\u540c\u6bd4\u589e\u957f26%\u81f313\u4fbf\u58eb\uff0c\u80a1\u672c\u62a5\u916c\u7387\u8fbe14%\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\/06\/a-blue-and-white-rectangular-box-with-white-text-10.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-69187\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-box-with-white-text-10.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-box-with-white-text-10-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-5.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-69188\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-5.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-5-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-5-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-on-a-screen-ai-generated-content-may-be-i-5-768x370.jpeg 768w\" sizes=\"(max-width: 1195px) 100vw, 1195px\" \/><\/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\/06\/a-long-line-of-a-flag-description-automatically-g-7.png\" class=\"wp-image-69189\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-long-line-of-a-flag-description-automatically-g-7.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-long-line-of-a-flag-description-automatically-g-7-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-long-line-of-a-flag-description-automatically-g-7-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u5fb7\u610f\u5fd7\u94f6\u884c (DB US): \u91cd\u65b0\u805a\u7126\u589e\u957f<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a27.0 \u76ee\u6807\u4ef7\uff1a30.0 \u6b62\u635f\u4ef7\uff1a25.5<\/strong><br>  <\/li>\n\n\n\n<li>\u5fb7\u610f\u5fd7\u94f6\u884c\u80a1\u4efd\u516c\u53f8\u662f\u4e00\u5bb6\u5168\u7403\u91d1\u878d\u670d\u52a1\u63d0\u4f9b\u5546\uff0c\u63d0\u4f9b\u5546\u4e1a\u94f6\u884c\u3001\u6295\u8d44\u94f6\u884c\u3001\u79c1\u4eba\u94f6\u884c\u548c\u96f6\u552e\u94f6\u884c\u670d\u52a1\u3002\u8be5\u94f6\u884c\u63d0\u4f9b\u7684\u4e1a\u52a1\u5305\u62ec\u503a\u52a1\u3001\u5916\u6c47\u3001\u884d\u751f\u54c1\u3001\u5927\u5b97\u5546\u54c1\u3001\u8d27\u5e01\u5e02\u573a\u3001\u56de\u8d2d\u548c\u8bc1\u5238\u5316\u3001\u73b0\u91d1\u80a1\u7968\u3001\u7814\u7a76\u3001\u80a1\u7968\u4e3b\u8981\u670d\u52a1\u3001\u8d37\u6b3e\u3001\u53ef\u8f6c\u6362\u8bc1\u5238\u3001\u5e76\u8d2d\u548c\u9996\u6b21\u516c\u5f00\u52df\u80a1\u54a8\u8be2\u3001\u8d38\u6613\u878d\u8d44\u3001\u96f6\u552e\u94f6\u884c\u3001\u8d44\u4ea7\u7ba1\u7406\u548c\u516c\u53f8\u6295\u8d44\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e94\u5bf9\u5229\u7387\u4e0b\u884c\u3002<\/strong>\u968f\u7740\u6b27\u5143\u533a\u901a\u80c0\u5728 5 \u6708\u4efd\u653e\u7f13\u81f3 1.9%\uff0c\u7565\u4f4e\u4e8e\u6b27\u6d32\u592e\u884c (ECB) 2% \u7684\u76ee\u6807\uff0c\u6b27\u6d32\u592e\u884c\u542f\u52a8\u4e86\u964d\u606f\uff0c\u5c06\u5176\u5b58\u6b3e\u4fbf\u5229\u5229\u7387\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\u81f3 2%\u3002\u5728\u6b27\u6d32\u5229\u7387\u6301\u7eed\u8d70\u4f4e\u7684\u60c5\u51b5\u4e0b\uff0c\u5fb7\u610f\u5fd7\u94f6\u884c\u901a\u8fc7\u589e\u52a0\u57fa\u4e8e\u8d39\u7528\u7684\u6536\u5165\u6765\u6e90\uff0c\u5c55\u793a\u4e86\u5176\u9002\u5e94\u80fd\u529b\u3002\u8fd9\u4f53\u73b0\u5728\u5176\u5f3a\u52b2\u7684\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u4e2d\uff0c\u5305\u62ec\u56fa\u5b9a\u6536\u76ca\u548c\u8d27\u5e01\u6536\u5165\u7684\u5f3a\u52b2\u8868\u73b0\uff0c\u4ee5\u53ca\u8fc7\u53bb\u4e00\u5e74\u5176\u79c1\u4eba\u94f6\u884c\u548c\u8d44\u4ea7\u7ba1\u7406\u90e8\u95e8\u7ba1\u7406\u8d44\u4ea7\u589e\u52a0\u4e86 950 \u4ebf\u6b27\u5143\u3002\u5fb7\u610f\u5fd7\u94f6\u884c\u5728\u4f4e\u5229\u6da6\u7387\u73af\u5883\u4e0b\uff0c\u6218\u7565\u6027\u5730\u8f6c\u5411\u591a\u5143\u5316\u548c\u53ef\u6301\u7eed\u7684\u6536\u5165\u589e\u957f\u6a21\u5f0f\uff0c\u4fdd\u6301\u4e86\u97e7\u6027\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0e\u4e07\u4e8b\u8fbe\u5361\u5408\u4f5c\u5e76\u805a\u7126\u5f00\u653e\u94f6\u884c\u3002<\/strong>\u5fb7\u610f\u5fd7\u94f6\u884c\u4e0e\u4e07\u4e8b\u8fbe\u5361\u7684\u6218\u7565\u5408\u4f5c\u5229\u7528\u5f00\u653e\u94f6\u884c\u548c\u8d26\u6237\u5230\u8d26\u6237 (A2A) \u652f\u4ed8\uff0c\u4ee5\u589e\u5f3a\u5176\u201c\u652f\u4ed8\u8bf7\u6c42\u201d(R2P) \u670d\u52a1\u3002\u6b64\u6b21\u5408\u4f5c\u5f15\u5165\u4e86\u5546\u5bb6\u53ef\u9009\u62e9\u7684\u5b9e\u65f6\u3001\u76f4\u63a5\u4ece\u8d26\u6237\u6263\u6b3e\u7684\u652f\u4ed8\u65b9\u5f0f\uff0c\u63d0\u9ad8\u4e86\u4ea4\u6613\u900f\u660e\u5ea6\u3001\u5bf9\u8d26\u6548\u7387\u548c\u6210\u672c\u6548\u76ca\u3002\u6b64\u4e3e\u7b26\u5408\u5bf9\u7075\u6d3b\u3001\u5b89\u5168\u6570\u5b57\u652f\u4ed8\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\uff0c\u4f7f\u5fb7\u610f\u5fd7\u94f6\u884c\u5904\u4e8e\u6b27\u6d32\u652f\u4ed8\u73b0\u4ee3\u5316\u524d\u6cbf\u3002\u968f\u7740 A2A \u548c\u5f00\u653e\u94f6\u884c\u7684\u666e\u53ca\u52a0\u901f\uff0c\u8be5\u5408\u4f5c\u53ef\u80fd\u6210\u4e3a\u5fb7\u610f\u5fd7\u94f6\u884c\u957f\u671f\u6570\u5b57\u57fa\u7840\u8bbe\u65bd\u6218\u7565\u7684\u57fa\u77f3\u3002\u5fb7\u610f\u5fd7\u94f6\u884c\u4e0e\u4e07\u4e8b\u8fbe\u5361\u7684\u6218\u7565\u5408\u4f5c\u52a0\u5f3a\u4e86\u5176\u5728\u6b27\u6d32\u4e0d\u65ad\u53d1\u5c55\u7684\u652f\u4ed8\u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u5730\u4f4d\uff0c\u5e76\u5de9\u56fa\u4e86\u5176\u5411\u53ef\u6269\u5c55\u3001\u6570\u5b57\u4f18\u5148\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u7684\u63a8\u8fdb\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f 10% \u81f3 85 \u4ebf\u6b27\u5143\u3002\u7a0e\u524d\u5229\u6da6\u548c\u51c0\u5229\u6da6\u5747\u540c\u6bd4\u589e\u957f 39%\uff0c\u5206\u522b\u8fbe\u5230 28 \u4ebf\u6b27\u5143\u548c 20 \u4ebf\u6b27\u5143\u3002\u5176\u79c1\u4eba\u94f6\u884c\u548c\u8d44\u4ea7\u7ba1\u7406\u4e1a\u52a1\u4e5f\u5b9e\u73b0\u4e86 260 \u4ebf\u6b27\u5143\u7684\u51c0\u6d41\u5165\u3002\u5fb7\u610f\u5fd7\u94f6\u884c\u9884\u8ba1 2025 \u8d22\u5e74\u6536\u5165\u7ea6\u4e3a 320 \u4ebf\u6b27\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\/06\/a-blue-and-white-rectangular-box-with-white-text-11.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-69190\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-box-with-white-text-11.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-blue-and-white-rectangular-box-with-white-text-11-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1078\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-stock-market-ai-generated-conte-13.jpeg\" alt=\"A graph showing a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-69191\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-stock-market-ai-generated-conte-13.jpeg 1078w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-stock-market-ai-generated-conte-13-300x166.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-stock-market-ai-generated-conte-13-1024x566.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-graph-showing-a-stock-market-ai-generated-conte-13-768x425.jpeg 768w\" sizes=\"(max-width: 1078px) 100vw, 1078px\" \/><\/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<a id=\"post-69132-_Hlt181111973\"><\/a><a id=\"post-69132-_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-69132-_va9jaog5jnw3\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-28.png\" class=\"wp-image-69192\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-28.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-28-300x64.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\/06\/word-image-69132-29.png\" alt=\"\" class=\"wp-image-69193\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-29.png 618w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/word-image-69132-29-300x62.png 300w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Take profit on Nebius Group NV (NBIS US) at US$45.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"528\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-screen-ai-generated-co-10.png\" alt=\"A screenshot of a computer screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-69194\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-screen-ai-generated-co-10.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-screen-ai-generated-co-10-300x168.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/a-screenshot-of-a-computer-screen-ai-generated-co-10-768x430.png 768w\" sizes=\"(max-width: 943px) 100vw, 943px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-56591-_tiry8p5xvcqk\"><\/a><\/h3>\n\n\n\n<div class=\"wp-block-uagb-image alignleft uagb-block-971ecb1b wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-left\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/www.kgieworld.sg\/research\/KGISGWA\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/01\/Get-more-from-KGI-on-WhatsApp.png\" alt=\"\" class=\"uag-image-59753\" width=\"637\" height=\"174\" title=\"Get more from KGI on WhatsApp.\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/t.me\/kgisg\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69.png\" alt=\"\" class=\"wp-image-15031\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/a><\/figure>\n\n\n","protected":false},"excerpt":{"rendered":"<p>\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u60a6\u6995\u63a7\u80a1(BTH SP)\uff1a\u5f15\u9886\u4e9a\u592a\u5730\u533a\u4e0d\u65ad\u53d8\u5316\u7684\u65c5\u6e38\u683c\u5c40 (Source: Bloomberg) \u5409\u5b9d\u4f01\u4e1a (KEP SP): \u8d4b\u80fd\u667a\u6167\u4e0e\u7eff\u8272\u672a\u6765 (Source: Bloomberg) \u6c5f\u897f\u94dc\u4e1a (358 HK)\uff1a\u7ecf\u6d4e\u4e50\u89c2 \u94dc\u4ef7 (Source: Bloomberg) (Source: Bloomberg) \u79fb\u5361 (9923 HK): \u7a33\u5b9a\u5e01\u4f5c\u4e3a\u8de8\u5883\u652f\u4ed8\u5de5\u5177 (Source: Bloomberg) \u5df4\u514b\u83b1\u94f6\u884c (BCS US)\uff1a\u8d37\u6b3e\u7c3f\u63a8\u52a8\u589e\u957f (Source: Bloomberg) \u5fb7\u610f\u5fd7\u94f6\u884c (DB US): \u91cd\u65b0\u805a\u7126\u589e\u957f (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-69132","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 \u60a6\u6995\u63a7\u80a1(BTH SP)\uff1a\u5f15\u9886\u4e9a\u592a\u5730\u533a\u4e0d\u65ad\u53d8\u5316\u7684\u65c5\u6e38\u683c\u5c40 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.37\uff0c\u76ee\u6807\u4ef7\uff1a0.41\uff0c\u6b62\u635f\u4ef7\uff1a0.35 \u60a6\u6995\u63a7\u80a1\u662f\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u62e5\u6709\u548c\u7ba1\u7406\u9152\u5e97\u96c6\u56e2\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u9152\u5e97\u3001\u5ea6\u5047\u6751\u3001\u6c34\u7597\u4e2d\u5fc3\u3001\u753b\u5eca\u3001\u9ad8\u5c14\u592b\u7403\u573a\u548c\u4f4f\u5b85\uff0c\u540c\u65f6\u63d0\u4f9b\u6295\u8d44\u3001\u8bbe\u8ba1\u3001\u65bd\u5de5\u548c\u9879\u76ee\u7ba1\u7406\u670d\u52a1\u3002\u60a6\u6995\u63a7\u80a1\u5728\u5168\u7403\u8303\u56f4\u5185\u4e3a\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002 \u533a\u57df\u65c5\u6e38\u9700\u6c42\u6fc0\u589e\u3002 \u6839\u636e\u4e07\u4e8b\u8fbe\u5361\u7ecf\u6d4e\u7814\u7a76\u6240\u53d1\u5e03\u7684\u300a2025\u5e74\u65c5\u884c\u8d8b\u52bf\u62a5\u544a\u300b\uff0c\u4e9a\u592a\u5730\u533a\u7ee7\u7eed\u5f15\u9886\u5168\u7403\u590f\u5b63\u65c5\u6e38\uff0c\u5176\u4e2d15\u4e2a\u70ed\u95e8\u76ee\u7684\u5730\u4e2d\u67098\u4e2a\u5728\u8be5\u5730\u533a\uff0c\u5305\u62ec\u4e1c\u4eac\u3001\u5927\u962a\u548c\u65b0\u5174\u70ed\u95e8\u5730\u82bd\u5e84\u3002\u8fd9\u4e00\u52bf\u5934\u5f97\u76ca\u4e8e\u6709\u5229\u7684\u6c47\u7387\u3001\u589e\u5f3a\u7684\u822a\u7a7a\u8fde\u63a5\u6027\u4ee5\u53ca\u5bf9\u5065\u5eb7\u3001\u81ea\u7136\u548c\u7f8e\u98df\u65c5\u6e38\u7684\u9700\u6c42\u4e0a\u5347\u3002\u4e2d\u56fd\u548c\u5370\u5ea6\u6b63\u5904\u4e8e\u51fa\u5883\u65c5\u6e38\u589e\u957f\u7684\u524d\u6cbf\uff0c\u65c5\u884c\u8005\u5bfb\u6c42\u9ad8\u4ef7\u503c\u3001\u6c89\u6d78\u5f0f\u7684\u4f53\u9a8c\u3002\u8fd9\u4e9b\u6d88\u8d39\u8005\u7684\u8f6c\u53d8\u4e0e\u60a6\u6995\u96c6\u56e2\u7684\u54c1\u724c\u7406\u5ff5\u548c\u4ea7\u54c1\u63d0\u4f9b\u76f4\u63a5\u5951\u5408\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u96c6\u56e2\u5728\u4e9a\u592a\u5730\u533a\u7e41\u8363\u7684\u65c5\u6e38\u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u5b9a\u4f4d\u3002 \u533a\u57df\u51fa\u884c\u97e7\u6027\u3002 \u4e9a\u6d32\u592a\u5e73\u6d0b\u822a\u7a7a\u534f\u4f1a\uff08AAPA\uff09\u62a5\u544a\u79f0\uff0c2025\u5e744\u6708\u56fd\u9645\u4e58\u5ba2\u540c\u6bd4\u589e\u957f10.5%\uff0c\u6536\u5165\u65c5\u5ba2\u516c\u91cc\uff08RPK\uff09\u589e\u957f12.6%\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u957f\u9014\u65c5\u884c\u9700\u6c42\u3002\u5c3d\u7ba1\u5168\u7403\u8d38\u6613\u9762\u4e34\u6301\u7eed\u538b\u529b\uff0c\u822a\u7a7a\u8d27\u8fd0\u6d41\u91cf\u4ecd\u589e\u957f4.9%\u3002\u8fd9\u4e9b\u6307\u6807\u51f8\u663e\u4e86\u6301\u7eed\u7684\u533a\u57df\u8fde\u63a5\u6027\u548c\u65c5\u6e38\u9700\u6c42\uff0c\u7ee7\u7eed\u652f\u6301\u60a6\u6995\u96c6\u56e2\u7684\u533a\u57df\u6269\u5c55\u3002\u968f\u7740\u56fd\u9645\u5230\u8fbe\u4eba\u6570\u7684\u589e\u52a0\uff0c\u60a6\u6995\u63a7\u80a1\u5728\u4e9a\u592a\u4e3b\u8981\u5e02\u573a\u4e2d\u62e5\u6709\u826f\u597d\u7684\u4f4d\u7f6e\uff0c\u80fd\u591f\u53d7\u76ca\u4e8e\u51fa\u884c\u548c\u6d88\u8d39\u8005\u5bf9\u4f53\u9a8c\u578b\u5962\u534e\u4f4f\u5bbf\u7684\u5174\u8da3\u589e\u52a0\u3002 \u6218\u7565\u5168\u7403\u6269\u5c55\u3002 \u57282025\u5e74\uff0c\u60a6\u6995\u96c6\u56e2\u901a\u8fc7\u5728\u4e0d\u540c\u5730\u533a\u63a8\u51fa15\u5bb6\u65b0\u9152\u5e97\u548c5\u5bb6\u54c1\u724c\u4f4f\u5b85\uff0c\u52a0\u901f\u5176\u589e\u957f\u3002\u6700\u8fd1\u5728\u65b0\u52a0\u5761\u5f00\u4e1a\u7684Mandai Rainforest Resort\u6807\u5fd7\u7740\u96c6\u56e2\u7684\u7b2c100\u4e2a\u7269\u4e1a\uff0c\u4e5f\u662f\u5176\u5728\u672c\u571f\u5e02\u573a\u7684\u9996\u79c0\u3002\u5176\u4ed6\u91cd\u8981\u53d1\u5c55\u5305\u62ec\u5728\u5766\u6851\u5c3c\u4e9a\u7684\u9996\u4e2a\u975e\u6d32\u91ce\u751f\u52a8\u7269\u56ed\u65c5\u9986Ubuyu\uff0c\u4ee5\u53ca\u5728\u66fc\u8c37\u7684\u7efc\u5408\u751f\u6d3b\u65b9\u5f0f\u4e2d\u5fc3\u3002\u52a0\u52d2\u6bd4\u5730\u533a\u548c\u4e9a\u6d32\u3001\u4e2d\u56fd\u3001\u97e9\u56fd\u3001\u6cf0\u56fd\u548c\u83f2\u5f8b\u5bbe\u7684\u6269\u5c55\uff0c\u7a81\u663e\u4e86\u96c6\u56e2\u7684\u591a\u54c1\u724c\u6218\u7565\uff0c\u4e13\u6ce8\u4e8e\u63d0\u4f9b\u771f\u5b9e\u7684\u3001\u672c\u5730\u7075\u611f\u7684\u6b3e\u5f85\u3002\u8fd9\u4e00\u5168\u7403\u7ba1\u7ebf\u4f7f\u60a6\u6995\u63a7\u80a1\u80fd\u591f\u6ee1\u8db3\u5bf9\u6709\u610f\u4e49\u7684\u76ee\u7684\u5730\u9a71\u52a8\u65c5\u6e38\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002 \u60a6\u6995\u63a7\u80a1\u62a5\u544a\u7684\u8425\u6536\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u7531\u4e8e\u6240\u6709\u4e1a\u52a1\u90e8\u95e8\u7684\u5f3a\u52b2\u589e\u957f\u3002\u8425\u4e1a\u5229\u6da6\u589e\u52a0\u4e861310\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u8fbe\u5230\u4e861.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u529f\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u66f4\u9ad8\u8d21\u732e\u3002\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece0.037\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f30.049\u65b0\u52a0\u5761\u5143\u3002\u622a\u81f32024\u8d22\u5e74\uff0c\u96c6\u56e2\u572822\u4e2a\u56fd\u5bb6\u5171\u8bb0\u5f5591\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u5bb6\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u65b0\u5f00\u4e1a17\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\uff0c\u5176\u4e2d\u5728\u65e5\u672c\u548c\u97e9\u56fd\u67096\u5bb6\uff0c\u5728\u4e2d\u56fd\u67098\u5bb6\uff0c\u4f5c\u4e3a\u96c6\u56e2\u5728\u4e9a\u6d32\u7684\u591a\u54c1\u724c\u6269\u5c55\u6218\u7565\u7684\u4e00\u90e8\u5206\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u5409\u5b9d\u4f01\u4e1a (KEP SP): \u8d4b\u80fd\u667a\u6167\u4e0e\u7eff\u8272\u672a\u6765 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a6.9\uff0c\u76ee\u6807\u4ef7\uff1a7.5\uff0c\u6b62\u635f\u4ef7\uff1a6.6 \u5409\u5b9d\u4f01\u4e1a\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u8d44\u4ea7\u7ba1\u7406\u548c\u8fd0\u8425\u5546\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u80fd\u6e90\u4e0e\u73af\u5883\u3001\u57ce\u5e02\u53d1\u5c55\u548c\u6570\u5b57\u4e92\u8054\u4e92\u901a\u9886\u57df\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u89e3\u51b3\u65b9\u6848\uff0c\u5e76\u901a\u8fc7\u5176\u6295\u8d44\u5e73\u53f0\u548c\u8d44\u4ea7\u7ec4\u5408\u63d0\u4f9b\u5173\u952e\u57fa\u7840\u8bbe\u65bd\u548c\u670d\u52a1\u3002\u5409\u5b9d\u4f01\u4e1a\u670d\u52a1\u5168\u7403\u5ba2\u6237\u3002 \u533a\u57df\u4f9b\u51b7\u7cfb\u7edf\u62d3\u5c55\u81f3\u533b\u7597\u9886\u57df\u3002 \u5409\u5b9d\u4f01\u4e1a\u6b63\u5728\u63a2\u7d22\u5c06\u5176\u5728\u88d5\u5eca\u6e56\u533a\u5373\u5c06\u5efa\u6210\u7684\u533a\u57df\u4f9b\u51b7\u7cfb\u7edf (DCS) \u4e0e\u9ec4\u5ef7\u65b9\u7efc\u5408\u533b\u9662\u548c\u88d5\u5eca\u793e\u533a\u533b\u9662\u6574\u5408\u3002\u5982\u679c\u5f97\u4ee5\u5b9e\u65bd\uff0c\u8fd9\u5c06\u6807\u5fd7\u7740\u65b0\u52a0\u5761\u9996\u6b21\u5728\u533b\u7597\u91cd\u5efa\u9879\u76ee\u4e2d\u90e8\u7f72 DCS\uff0c\u4ece\u800c\u63d0\u9ad8\u80fd\u6e90\u6548\u7387\u3001\u8fd0\u8425\u5f39\u6027\uff0c\u5e76\u817e\u51fa\u5173\u952e\u7a7a\u95f4\u7528\u4e8e\u60a3\u8005\u62a4\u7406\u3002\u8fd9\u4f7f\u5f97\u5409\u5b9d\u4f01\u4e1a\u5728\u4efb\u52a1\u5173\u952e\u578b\u9886\u57df\u7684\u53ef\u6301\u7eed\u57fa\u7840\u8bbe\u65bd\u65b9\u9762\u5904\u4e8e\u9886\u5148\u5730\u4f4d\uff0c\u5e76\u6709\u671b\u5728\u4f4e\u78b3\u57ce\u5e02\u516c\u7528\u4e8b\u4e1a\u9700\u6c42\u4e0d\u65ad\u589e\u957f\u7684\u60c5\u51b5\u4e0b\uff0c\u5728\u533a\u57df\u8303\u56f4\u5185\u63a8\u5e7f DCS \u89e3\u51b3\u65b9\u6848\u3002 \u4e0e\u534e\u4e3a\u5efa\u7acb\u6218\u7565\u80fd\u6e90\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u3002 \u5409\u5b9d\u4f01\u4e1a\u4e0e\u534e\u4e3a\u5408\u4f5c\uff0c\u65e8\u5728\u5171\u540c\u5f00\u53d1\u4e1c\u5357\u4e9a\u5730\u533a\u7684\u592a\u9633\u80fd\u5149\u4f0f\u548c\u7535\u6c60\u50a8\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u76ee\u6807\u662f\u4e92\u8054\u7535\u7f51\u3001\u6570\u636e\u4e2d\u5fc3\u548c\u5de5\u4e1a\u56ed\u533a\u3002\u901a\u8fc7\u5b9e\u65f6\u7cfb\u7edf\u76d1\u63a7\u548c\u667a\u80fd\u9700\u6c42\u54cd\u5e94\u8ba1\u5212\uff0c\u8be5\u4e3e\u63aa\u53ef\u63d0\u9ad8\u7535\u7f51\u7a33\u5b9a\u6027\u548c\u53ef\u518d\u751f\u80fd\u6e90\u6548\u7387\u3002\u968f\u7740\u4e1c\u5357\u4e9a\u52a0\u901f\u80fd\u6e90\u8f6c\u578b\uff0c\u6b64\u6b21\u5408\u4f5c\u5de9\u56fa\u4e86\u5409\u5b9d\u4f01\u4e1a\u4f5c\u4e3a\u533a\u57df\u667a\u80fd\u3001\u4f4e\u78b3\u80fd\u6e90\u57fa\u7840\u8bbe\u65bd\u9886\u5bfc\u8005\u7684\u5730\u4f4d\uff0c\u5177\u6709\u957f\u671f\u589e\u957f\u6f5c\u529b\u3002 2025\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 \u5409\u5b9d\u4f01\u4e1a\u516c\u5e03\uff0c\u5254\u9664\u539f\u6709 O&amp;M \u8d44\u4ea7\uff0c\u516c\u53f8\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f 25%\uff0c\u8fd9\u5f97\u76ca\u4e8e\u57fa\u7840\u8bbe\u65bd\u4e1a\u52a1\u7684\u5f3a\u52b2\u7a33\u5b9a\u8868\u73b0\u3001\u623f\u5730\u4ea7\u4e1a\u52a1\u8d21\u732e\u589e\u52a0\u4ee5\u53ca\u8d44\u4ea7\u7ba1\u7406\u4e1a\u52a1\u7684\u66f4\u4f73\u8868\u73b0\u3002\u5254\u9664\u539f\u6709\u8d44\u4ea7\uff0c\u7ecf\u5e38\u6027\u6536\u5165\u5360\u5409\u5b9d\u4f01\u4e1a 2025 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u51c0\u5229\u6da6\u7684 80%\" \/>\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-09-jun-2025-zh\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.8\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"KGI Singapore Research \u2022 Singapore&#039;s leading broker offering Futures, FX, Equities and Wealth Management.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"2025\u5e746\u67089\u65e5: \u60a6\u6995\u63a7\u80a1(BTH SP), \u6c5f\u897f\u94dc\u4e1a (358 HK), \u5df4\u514b\u83b1\u94f6\u884c (BCS 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 \u60a6\u6995\u63a7\u80a1(BTH SP)\uff1a\u5f15\u9886\u4e9a\u592a\u5730\u533a\u4e0d\u65ad\u53d8\u5316\u7684\u65c5\u6e38\u683c\u5c40 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.37\uff0c\u76ee\u6807\u4ef7\uff1a0.41\uff0c\u6b62\u635f\u4ef7\uff1a0.35 \u60a6\u6995\u63a7\u80a1\u662f\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u62e5\u6709\u548c\u7ba1\u7406\u9152\u5e97\u96c6\u56e2\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u9152\u5e97\u3001\u5ea6\u5047\u6751\u3001\u6c34\u7597\u4e2d\u5fc3\u3001\u753b\u5eca\u3001\u9ad8\u5c14\u592b\u7403\u573a\u548c\u4f4f\u5b85\uff0c\u540c\u65f6\u63d0\u4f9b\u6295\u8d44\u3001\u8bbe\u8ba1\u3001\u65bd\u5de5\u548c\u9879\u76ee\u7ba1\u7406\u670d\u52a1\u3002\u60a6\u6995\u63a7\u80a1\u5728\u5168\u7403\u8303\u56f4\u5185\u4e3a\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002 \u533a\u57df\u65c5\u6e38\u9700\u6c42\u6fc0\u589e\u3002 \u6839\u636e\u4e07\u4e8b\u8fbe\u5361\u7ecf\u6d4e\u7814\u7a76\u6240\u53d1\u5e03\u7684\u300a2025\u5e74\u65c5\u884c\u8d8b\u52bf\u62a5\u544a\u300b\uff0c\u4e9a\u592a\u5730\u533a\u7ee7\u7eed\u5f15\u9886\u5168\u7403\u590f\u5b63\u65c5\u6e38\uff0c\u5176\u4e2d15\u4e2a\u70ed\u95e8\u76ee\u7684\u5730\u4e2d\u67098\u4e2a\u5728\u8be5\u5730\u533a\uff0c\u5305\u62ec\u4e1c\u4eac\u3001\u5927\u962a\u548c\u65b0\u5174\u70ed\u95e8\u5730\u82bd\u5e84\u3002\u8fd9\u4e00\u52bf\u5934\u5f97\u76ca\u4e8e\u6709\u5229\u7684\u6c47\u7387\u3001\u589e\u5f3a\u7684\u822a\u7a7a\u8fde\u63a5\u6027\u4ee5\u53ca\u5bf9\u5065\u5eb7\u3001\u81ea\u7136\u548c\u7f8e\u98df\u65c5\u6e38\u7684\u9700\u6c42\u4e0a\u5347\u3002\u4e2d\u56fd\u548c\u5370\u5ea6\u6b63\u5904\u4e8e\u51fa\u5883\u65c5\u6e38\u589e\u957f\u7684\u524d\u6cbf\uff0c\u65c5\u884c\u8005\u5bfb\u6c42\u9ad8\u4ef7\u503c\u3001\u6c89\u6d78\u5f0f\u7684\u4f53\u9a8c\u3002\u8fd9\u4e9b\u6d88\u8d39\u8005\u7684\u8f6c\u53d8\u4e0e\u60a6\u6995\u96c6\u56e2\u7684\u54c1\u724c\u7406\u5ff5\u548c\u4ea7\u54c1\u63d0\u4f9b\u76f4\u63a5\u5951\u5408\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u96c6\u56e2\u5728\u4e9a\u592a\u5730\u533a\u7e41\u8363\u7684\u65c5\u6e38\u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u5b9a\u4f4d\u3002 \u533a\u57df\u51fa\u884c\u97e7\u6027\u3002 \u4e9a\u6d32\u592a\u5e73\u6d0b\u822a\u7a7a\u534f\u4f1a\uff08AAPA\uff09\u62a5\u544a\u79f0\uff0c2025\u5e744\u6708\u56fd\u9645\u4e58\u5ba2\u540c\u6bd4\u589e\u957f10.5%\uff0c\u6536\u5165\u65c5\u5ba2\u516c\u91cc\uff08RPK\uff09\u589e\u957f12.6%\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u957f\u9014\u65c5\u884c\u9700\u6c42\u3002\u5c3d\u7ba1\u5168\u7403\u8d38\u6613\u9762\u4e34\u6301\u7eed\u538b\u529b\uff0c\u822a\u7a7a\u8d27\u8fd0\u6d41\u91cf\u4ecd\u589e\u957f4.9%\u3002\u8fd9\u4e9b\u6307\u6807\u51f8\u663e\u4e86\u6301\u7eed\u7684\u533a\u57df\u8fde\u63a5\u6027\u548c\u65c5\u6e38\u9700\u6c42\uff0c\u7ee7\u7eed\u652f\u6301\u60a6\u6995\u96c6\u56e2\u7684\u533a\u57df\u6269\u5c55\u3002\u968f\u7740\u56fd\u9645\u5230\u8fbe\u4eba\u6570\u7684\u589e\u52a0\uff0c\u60a6\u6995\u63a7\u80a1\u5728\u4e9a\u592a\u4e3b\u8981\u5e02\u573a\u4e2d\u62e5\u6709\u826f\u597d\u7684\u4f4d\u7f6e\uff0c\u80fd\u591f\u53d7\u76ca\u4e8e\u51fa\u884c\u548c\u6d88\u8d39\u8005\u5bf9\u4f53\u9a8c\u578b\u5962\u534e\u4f4f\u5bbf\u7684\u5174\u8da3\u589e\u52a0\u3002 \u6218\u7565\u5168\u7403\u6269\u5c55\u3002 \u57282025\u5e74\uff0c\u60a6\u6995\u96c6\u56e2\u901a\u8fc7\u5728\u4e0d\u540c\u5730\u533a\u63a8\u51fa15\u5bb6\u65b0\u9152\u5e97\u548c5\u5bb6\u54c1\u724c\u4f4f\u5b85\uff0c\u52a0\u901f\u5176\u589e\u957f\u3002\u6700\u8fd1\u5728\u65b0\u52a0\u5761\u5f00\u4e1a\u7684Mandai Rainforest Resort\u6807\u5fd7\u7740\u96c6\u56e2\u7684\u7b2c100\u4e2a\u7269\u4e1a\uff0c\u4e5f\u662f\u5176\u5728\u672c\u571f\u5e02\u573a\u7684\u9996\u79c0\u3002\u5176\u4ed6\u91cd\u8981\u53d1\u5c55\u5305\u62ec\u5728\u5766\u6851\u5c3c\u4e9a\u7684\u9996\u4e2a\u975e\u6d32\u91ce\u751f\u52a8\u7269\u56ed\u65c5\u9986Ubuyu\uff0c\u4ee5\u53ca\u5728\u66fc\u8c37\u7684\u7efc\u5408\u751f\u6d3b\u65b9\u5f0f\u4e2d\u5fc3\u3002\u52a0\u52d2\u6bd4\u5730\u533a\u548c\u4e9a\u6d32\u3001\u4e2d\u56fd\u3001\u97e9\u56fd\u3001\u6cf0\u56fd\u548c\u83f2\u5f8b\u5bbe\u7684\u6269\u5c55\uff0c\u7a81\u663e\u4e86\u96c6\u56e2\u7684\u591a\u54c1\u724c\u6218\u7565\uff0c\u4e13\u6ce8\u4e8e\u63d0\u4f9b\u771f\u5b9e\u7684\u3001\u672c\u5730\u7075\u611f\u7684\u6b3e\u5f85\u3002\u8fd9\u4e00\u5168\u7403\u7ba1\u7ebf\u4f7f\u60a6\u6995\u63a7\u80a1\u80fd\u591f\u6ee1\u8db3\u5bf9\u6709\u610f\u4e49\u7684\u76ee\u7684\u5730\u9a71\u52a8\u65c5\u6e38\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002 \u60a6\u6995\u63a7\u80a1\u62a5\u544a\u7684\u8425\u6536\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u7531\u4e8e\u6240\u6709\u4e1a\u52a1\u90e8\u95e8\u7684\u5f3a\u52b2\u589e\u957f\u3002\u8425\u4e1a\u5229\u6da6\u589e\u52a0\u4e861310\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u8fbe\u5230\u4e861.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u529f\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u66f4\u9ad8\u8d21\u732e\u3002\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece0.037\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f30.049\u65b0\u52a0\u5761\u5143\u3002\u622a\u81f32024\u8d22\u5e74\uff0c\u96c6\u56e2\u572822\u4e2a\u56fd\u5bb6\u5171\u8bb0\u5f5591\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u5bb6\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u65b0\u5f00\u4e1a17\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\uff0c\u5176\u4e2d\u5728\u65e5\u672c\u548c\u97e9\u56fd\u67096\u5bb6\uff0c\u5728\u4e2d\u56fd\u67098\u5bb6\uff0c\u4f5c\u4e3a\u96c6\u56e2\u5728\u4e9a\u6d32\u7684\u591a\u54c1\u724c\u6269\u5c55\u6218\u7565\u7684\u4e00\u90e8\u5206\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u5409\u5b9d\u4f01\u4e1a (KEP SP): \u8d4b\u80fd\u667a\u6167\u4e0e\u7eff\u8272\u672a\u6765 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a6.9\uff0c\u76ee\u6807\u4ef7\uff1a7.5\uff0c\u6b62\u635f\u4ef7\uff1a6.6 \u5409\u5b9d\u4f01\u4e1a\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u8d44\u4ea7\u7ba1\u7406\u548c\u8fd0\u8425\u5546\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u80fd\u6e90\u4e0e\u73af\u5883\u3001\u57ce\u5e02\u53d1\u5c55\u548c\u6570\u5b57\u4e92\u8054\u4e92\u901a\u9886\u57df\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u89e3\u51b3\u65b9\u6848\uff0c\u5e76\u901a\u8fc7\u5176\u6295\u8d44\u5e73\u53f0\u548c\u8d44\u4ea7\u7ec4\u5408\u63d0\u4f9b\u5173\u952e\u57fa\u7840\u8bbe\u65bd\u548c\u670d\u52a1\u3002\u5409\u5b9d\u4f01\u4e1a\u670d\u52a1\u5168\u7403\u5ba2\u6237\u3002 \u533a\u57df\u4f9b\u51b7\u7cfb\u7edf\u62d3\u5c55\u81f3\u533b\u7597\u9886\u57df\u3002 \u5409\u5b9d\u4f01\u4e1a\u6b63\u5728\u63a2\u7d22\u5c06\u5176\u5728\u88d5\u5eca\u6e56\u533a\u5373\u5c06\u5efa\u6210\u7684\u533a\u57df\u4f9b\u51b7\u7cfb\u7edf (DCS) \u4e0e\u9ec4\u5ef7\u65b9\u7efc\u5408\u533b\u9662\u548c\u88d5\u5eca\u793e\u533a\u533b\u9662\u6574\u5408\u3002\u5982\u679c\u5f97\u4ee5\u5b9e\u65bd\uff0c\u8fd9\u5c06\u6807\u5fd7\u7740\u65b0\u52a0\u5761\u9996\u6b21\u5728\u533b\u7597\u91cd\u5efa\u9879\u76ee\u4e2d\u90e8\u7f72 DCS\uff0c\u4ece\u800c\u63d0\u9ad8\u80fd\u6e90\u6548\u7387\u3001\u8fd0\u8425\u5f39\u6027\uff0c\u5e76\u817e\u51fa\u5173\u952e\u7a7a\u95f4\u7528\u4e8e\u60a3\u8005\u62a4\u7406\u3002\u8fd9\u4f7f\u5f97\u5409\u5b9d\u4f01\u4e1a\u5728\u4efb\u52a1\u5173\u952e\u578b\u9886\u57df\u7684\u53ef\u6301\u7eed\u57fa\u7840\u8bbe\u65bd\u65b9\u9762\u5904\u4e8e\u9886\u5148\u5730\u4f4d\uff0c\u5e76\u6709\u671b\u5728\u4f4e\u78b3\u57ce\u5e02\u516c\u7528\u4e8b\u4e1a\u9700\u6c42\u4e0d\u65ad\u589e\u957f\u7684\u60c5\u51b5\u4e0b\uff0c\u5728\u533a\u57df\u8303\u56f4\u5185\u63a8\u5e7f DCS \u89e3\u51b3\u65b9\u6848\u3002 \u4e0e\u534e\u4e3a\u5efa\u7acb\u6218\u7565\u80fd\u6e90\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u3002 \u5409\u5b9d\u4f01\u4e1a\u4e0e\u534e\u4e3a\u5408\u4f5c\uff0c\u65e8\u5728\u5171\u540c\u5f00\u53d1\u4e1c\u5357\u4e9a\u5730\u533a\u7684\u592a\u9633\u80fd\u5149\u4f0f\u548c\u7535\u6c60\u50a8\u80fd\u89e3\u51b3\u65b9\u6848\uff0c\u76ee\u6807\u662f\u4e92\u8054\u7535\u7f51\u3001\u6570\u636e\u4e2d\u5fc3\u548c\u5de5\u4e1a\u56ed\u533a\u3002\u901a\u8fc7\u5b9e\u65f6\u7cfb\u7edf\u76d1\u63a7\u548c\u667a\u80fd\u9700\u6c42\u54cd\u5e94\u8ba1\u5212\uff0c\u8be5\u4e3e\u63aa\u53ef\u63d0\u9ad8\u7535\u7f51\u7a33\u5b9a\u6027\u548c\u53ef\u518d\u751f\u80fd\u6e90\u6548\u7387\u3002\u968f\u7740\u4e1c\u5357\u4e9a\u52a0\u901f\u80fd\u6e90\u8f6c\u578b\uff0c\u6b64\u6b21\u5408\u4f5c\u5de9\u56fa\u4e86\u5409\u5b9d\u4f01\u4e1a\u4f5c\u4e3a\u533a\u57df\u667a\u80fd\u3001\u4f4e\u78b3\u80fd\u6e90\u57fa\u7840\u8bbe\u65bd\u9886\u5bfc\u8005\u7684\u5730\u4f4d\uff0c\u5177\u6709\u957f\u671f\u589e\u957f\u6f5c\u529b\u3002 2025\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 \u5409\u5b9d\u4f01\u4e1a\u516c\u5e03\uff0c\u5254\u9664\u539f\u6709 O&amp;M \u8d44\u4ea7\uff0c\u516c\u53f8\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f 25%\uff0c\u8fd9\u5f97\u76ca\u4e8e\u57fa\u7840\u8bbe\u65bd\u4e1a\u52a1\u7684\u5f3a\u52b2\u7a33\u5b9a\u8868\u73b0\u3001\u623f\u5730\u4ea7\u4e1a\u52a1\u8d21\u732e\u589e\u52a0\u4ee5\u53ca\u8d44\u4ea7\u7ba1\u7406\u4e1a\u52a1\u7684\u66f4\u4f73\u8868\u73b0\u3002\u5254\u9664\u539f\u6709\u8d44\u4ea7\uff0c\u7ecf\u5e38\u6027\u6536\u5165\u5360\u5409\u5b9d\u4f01\u4e1a 2025 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u51c0\u5229\u6da6\u7684 80%\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-09-jun-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=\"2025-06-08T14:39:28+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-06-08T14:39:29+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"2025\u5e746\u67089\u65e5: \u60a6\u6995\u63a7\u80a1(BTH SP), \u6c5f\u897f\u94dc\u4e1a (358 HK), \u5df4\u514b\u83b1\u94f6\u884c (BCS 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 \u60a6\u6995\u63a7\u80a1(BTH SP)\uff1a\u5f15\u9886\u4e9a\u592a\u5730\u533a\u4e0d\u65ad\u53d8\u5316\u7684\u65c5\u6e38\u683c\u5c40 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.37\uff0c\u76ee\u6807\u4ef7\uff1a0.41\uff0c\u6b62\u635f\u4ef7\uff1a0.35 \u60a6\u6995\u63a7\u80a1\u662f\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u62e5\u6709\u548c\u7ba1\u7406\u9152\u5e97\u96c6\u56e2\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u9152\u5e97\u3001\u5ea6\u5047\u6751\u3001\u6c34\u7597\u4e2d\u5fc3\u3001\u753b\u5eca\u3001\u9ad8\u5c14\u592b\u7403\u573a\u548c\u4f4f\u5b85\uff0c\u540c\u65f6\u63d0\u4f9b\u6295\u8d44\u3001\u8bbe\u8ba1\u3001\u65bd\u5de5\u548c\u9879\u76ee\u7ba1\u7406\u670d\u52a1\u3002\u60a6\u6995\u63a7\u80a1\u5728\u5168\u7403\u8303\u56f4\u5185\u4e3a\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002 \u533a\u57df\u65c5\u6e38\u9700\u6c42\u6fc0\u589e\u3002 \u6839\u636e\u4e07\u4e8b\u8fbe\u5361\u7ecf\u6d4e\u7814\u7a76\u6240\u53d1\u5e03\u7684\u300a2025\u5e74\u65c5\u884c\u8d8b\u52bf\u62a5\u544a\u300b\uff0c\u4e9a\u592a\u5730\u533a\u7ee7\u7eed\u5f15\u9886\u5168\u7403\u590f\u5b63\u65c5\u6e38\uff0c\u5176\u4e2d15\u4e2a\u70ed\u95e8\u76ee\u7684\u5730\u4e2d\u67098\u4e2a\u5728\u8be5\u5730\u533a\uff0c\u5305\u62ec\u4e1c\u4eac\u3001\u5927\u962a\u548c\u65b0\u5174\u70ed\u95e8\u5730\u82bd\u5e84\u3002\u8fd9\u4e00\u52bf\u5934\u5f97\u76ca\u4e8e\u6709\u5229\u7684\u6c47\u7387\u3001\u589e\u5f3a\u7684\u822a\u7a7a\u8fde\u63a5\u6027\u4ee5\u53ca\u5bf9\u5065\u5eb7\u3001\u81ea\u7136\u548c\u7f8e\u98df\u65c5\u6e38\u7684\u9700\u6c42\u4e0a\u5347\u3002\u4e2d\u56fd\u548c\u5370\u5ea6\u6b63\u5904\u4e8e\u51fa\u5883\u65c5\u6e38\u589e\u957f\u7684\u524d\u6cbf\uff0c\u65c5\u884c\u8005\u5bfb\u6c42\u9ad8\u4ef7\u503c\u3001\u6c89\u6d78\u5f0f\u7684\u4f53\u9a8c\u3002\u8fd9\u4e9b\u6d88\u8d39\u8005\u7684\u8f6c\u53d8\u4e0e\u60a6\u6995\u96c6\u56e2\u7684\u54c1\u724c\u7406\u5ff5\u548c\u4ea7\u54c1\u63d0\u4f9b\u76f4\u63a5\u5951\u5408\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u96c6\u56e2\u5728\u4e9a\u592a\u5730\u533a\u7e41\u8363\u7684\u65c5\u6e38\u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u5b9a\u4f4d\u3002 \u533a\u57df\u51fa\u884c\u97e7\u6027\u3002 \u4e9a\u6d32\u592a\u5e73\u6d0b\u822a\u7a7a\u534f\u4f1a\uff08AAPA\uff09\u62a5\u544a\u79f0\uff0c2025\u5e744\u6708\u56fd\u9645\u4e58\u5ba2\u540c\u6bd4\u589e\u957f10.5%\uff0c\u6536\u5165\u65c5\u5ba2\u516c\u91cc\uff08RPK\uff09\u589e\u957f12.6%\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u957f\u9014\u65c5\u884c\u9700\u6c42\u3002\u5c3d\u7ba1\u5168\u7403\u8d38\u6613\u9762\u4e34\u6301\u7eed\u538b\u529b\uff0c\u822a\u7a7a\u8d27\u8fd0\u6d41\u91cf\u4ecd\u589e\u957f4.9%\u3002\u8fd9\u4e9b\u6307\u6807\u51f8\u663e\u4e86\u6301\u7eed\u7684\u533a\u57df\u8fde\u63a5\u6027\u548c\u65c5\u6e38\u9700\u6c42\uff0c\u7ee7\u7eed\u652f\u6301\u60a6\u6995\u96c6\u56e2\u7684\u533a\u57df\u6269\u5c55\u3002\u968f\u7740\u56fd\u9645\u5230\u8fbe\u4eba\u6570\u7684\u589e\u52a0\uff0c\u60a6\u6995\u63a7\u80a1\u5728\u4e9a\u592a\u4e3b\u8981\u5e02\u573a\u4e2d\u62e5\u6709\u826f\u597d\u7684\u4f4d\u7f6e\uff0c\u80fd\u591f\u53d7\u76ca\u4e8e\u51fa\u884c\u548c\u6d88\u8d39\u8005\u5bf9\u4f53\u9a8c\u578b\u5962\u534e\u4f4f\u5bbf\u7684\u5174\u8da3\u589e\u52a0\u3002 \u6218\u7565\u5168\u7403\u6269\u5c55\u3002 \u57282025\u5e74\uff0c\u60a6\u6995\u96c6\u56e2\u901a\u8fc7\u5728\u4e0d\u540c\u5730\u533a\u63a8\u51fa15\u5bb6\u65b0\u9152\u5e97\u548c5\u5bb6\u54c1\u724c\u4f4f\u5b85\uff0c\u52a0\u901f\u5176\u589e\u957f\u3002\u6700\u8fd1\u5728\u65b0\u52a0\u5761\u5f00\u4e1a\u7684Mandai Rainforest Resort\u6807\u5fd7\u7740\u96c6\u56e2\u7684\u7b2c100\u4e2a\u7269\u4e1a\uff0c\u4e5f\u662f\u5176\u5728\u672c\u571f\u5e02\u573a\u7684\u9996\u79c0\u3002\u5176\u4ed6\u91cd\u8981\u53d1\u5c55\u5305\u62ec\u5728\u5766\u6851\u5c3c\u4e9a\u7684\u9996\u4e2a\u975e\u6d32\u91ce\u751f\u52a8\u7269\u56ed\u65c5\u9986Ubuyu\uff0c\u4ee5\u53ca\u5728\u66fc\u8c37\u7684\u7efc\u5408\u751f\u6d3b\u65b9\u5f0f\u4e2d\u5fc3\u3002\u52a0\u52d2\u6bd4\u5730\u533a\u548c\u4e9a\u6d32\u3001\u4e2d\u56fd\u3001\u97e9\u56fd\u3001\u6cf0\u56fd\u548c\u83f2\u5f8b\u5bbe\u7684\u6269\u5c55\uff0c\u7a81\u663e\u4e86\u96c6\u56e2\u7684\u591a\u54c1\u724c\u6218\u7565\uff0c\u4e13\u6ce8\u4e8e\u63d0\u4f9b\u771f\u5b9e\u7684\u3001\u672c\u5730\u7075\u611f\u7684\u6b3e\u5f85\u3002\u8fd9\u4e00\u5168\u7403\u7ba1\u7ebf\u4f7f\u60a6\u6995\u63a7\u80a1\u80fd\u591f\u6ee1\u8db3\u5bf9\u6709\u610f\u4e49\u7684\u76ee\u7684\u5730\u9a71\u52a8\u65c5\u6e38\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002 2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002 \u60a6\u6995\u63a7\u80a1\u62a5\u544a\u7684\u8425\u6536\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u7531\u4e8e\u6240\u6709\u4e1a\u52a1\u90e8\u95e8\u7684\u5f3a\u52b2\u589e\u957f\u3002\u8425\u4e1a\u5229\u6da6\u589e\u52a0\u4e861310\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u8fbe\u5230\u4e861.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u529f\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u66f4\u9ad8\u8d21\u732e\u3002\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece0.037\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f30.049\u65b0\u52a0\u5761\u5143\u3002\u622a\u81f32024\u8d22\u5e74\uff0c\u96c6\u56e2\u572822\u4e2a\u56fd\u5bb6\u5171\u8bb0\u5f5591\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u5bb6\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u65b0\u5f00\u4e1a17\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\uff0c\u5176\u4e2d\u5728\u65e5\u672c\u548c\u97e9\u56fd\u67096\u5bb6\uff0c\u5728\u4e2d\u56fd\u67098\u5bb6\uff0c\u4f5c\u4e3a\u96c6\u56e2\u5728\u4e9a\u6d32\u7684\u591a\u54c1\u724c\u6269\u5c55\u6218\u7565\u7684\u4e00\u90e8\u5206\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u5409\u5b9d\u4f01\u4e1a (KEP SP): \u8d4b\u80fd\u667a\u6167\u4e0e\u7eff\u8272\u672a\u6765 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a6.9\uff0c\u76ee\u6807\u4ef7\uff1a7.5\uff0c\u6b62\u635f\u4ef7\uff1a6.6 \u5409\u5b9d\u4f01\u4e1a\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u8d44\u4ea7\u7ba1\u7406\u548c\u8fd0\u8425\u5546\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u80fd\u6e90\u4e0e\u73af\u5883\u3001\u57ce\u5e02\u53d1\u5c55\u548c\u6570\u5b57\u4e92\u8054\u4e92\u901a\u9886\u57df\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u89e3\u51b3\u65b9\u6848\uff0c\u5e76\u901a\u8fc7\u5176\u6295\u8d44\u5e73\u53f0\u548c\u8d44\u4ea7\u7ec4\u5408\u63d0\u4f9b\u5173\u952e\u57fa\u7840\u8bbe\u65bd\u548c\u670d\u52a1\u3002\u5409\u5b9d\u4f01\u4e1a\u670d\u52a1\u5168\u7403\u5ba2\u6237\u3002 \u533a\u57df\u4f9b\u51b7\u7cfb\u7edf\u62d3\u5c55\u81f3\u533b\u7597\u9886\u57df\u3002 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\u89e3\u51b3\u65b9\u6848\u3002 \u4e0e\u534e\u4e3a\u5efa\u7acb\u6218\u7565\u80fd\u6e90\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u3002 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\u5409\u5b9d\u4f01\u4e1a\u516c\u5e03\uff0c\u5254\u9664\u539f\u6709 O&amp;M \u8d44\u4ea7\uff0c\u516c\u53f8\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f 25%\uff0c\u8fd9\u5f97\u76ca\u4e8e\u57fa\u7840\u8bbe\u65bd\u4e1a\u52a1\u7684\u5f3a\u52b2\u7a33\u5b9a\u8868\u73b0\u3001\u623f\u5730\u4ea7\u4e1a\u52a1\u8d21\u732e\u589e\u52a0\u4ee5\u53ca\u8d44\u4ea7\u7ba1\u7406\u4e1a\u52a1\u7684\u66f4\u4f73\u8868\u73b0\u3002\u5254\u9664\u539f\u6709\u8d44\u4ea7\uff0c\u7ecf\u5e38\u6027\u6536\u5165\u5360\u5409\u5b9d\u4f01\u4e1a 2025 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u51c0\u5229\u6da6\u7684 80%","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-09-jun-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":"2025-06-08T14:39:28+00:00","article:modified_time":"2025-06-08T14:39:29+00:00","twitter:card":"summary","twitter:title":"2025\u5e746\u67089\u65e5: \u60a6\u6995\u63a7\u80a1(BTH SP), \u6c5f\u897f\u94dc\u4e1a (358 HK), \u5df4\u514b\u83b1\u94f6\u884c (BCS 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 \u60a6\u6995\u63a7\u80a1(BTH SP)\uff1a\u5f15\u9886\u4e9a\u592a\u5730\u533a\u4e0d\u65ad\u53d8\u5316\u7684\u65c5\u6e38\u683c\u5c40 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.37\uff0c\u76ee\u6807\u4ef7\uff1a0.41\uff0c\u6b62\u635f\u4ef7\uff1a0.35 \u60a6\u6995\u63a7\u80a1\u662f\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u62e5\u6709\u548c\u7ba1\u7406\u9152\u5e97\u96c6\u56e2\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u9152\u5e97\u3001\u5ea6\u5047\u6751\u3001\u6c34\u7597\u4e2d\u5fc3\u3001\u753b\u5eca\u3001\u9ad8\u5c14\u592b\u7403\u573a\u548c\u4f4f\u5b85\uff0c\u540c\u65f6\u63d0\u4f9b\u6295\u8d44\u3001\u8bbe\u8ba1\u3001\u65bd\u5de5\u548c\u9879\u76ee\u7ba1\u7406\u670d\u52a1\u3002\u60a6\u6995\u63a7\u80a1\u5728\u5168\u7403\u8303\u56f4\u5185\u4e3a\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002 \u533a\u57df\u65c5\u6e38\u9700\u6c42\u6fc0\u589e\u3002 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u5409\u5b9d\u4f01\u4e1a (KEP SP): \u8d4b\u80fd\u667a\u6167\u4e0e\u7eff\u8272\u672a\u6765 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a6.9\uff0c\u76ee\u6807\u4ef7\uff1a7.5\uff0c\u6b62\u635f\u4ef7\uff1a6.6 \u5409\u5b9d\u4f01\u4e1a\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u8d44\u4ea7\u7ba1\u7406\u548c\u8fd0\u8425\u5546\u3002\u516c\u53f8\u4e13\u6ce8\u4e8e\u80fd\u6e90\u4e0e\u73af\u5883\u3001\u57ce\u5e02\u53d1\u5c55\u548c\u6570\u5b57\u4e92\u8054\u4e92\u901a\u9886\u57df\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u89e3\u51b3\u65b9\u6848\uff0c\u5e76\u901a\u8fc7\u5176\u6295\u8d44\u5e73\u53f0\u548c\u8d44\u4ea7\u7ec4\u5408\u63d0\u4f9b\u5173\u952e\u57fa\u7840\u8bbe\u65bd\u548c\u670d\u52a1\u3002\u5409\u5b9d\u4f01\u4e1a\u670d\u52a1\u5168\u7403\u5ba2\u6237\u3002 \u533a\u57df\u4f9b\u51b7\u7cfb\u7edf\u62d3\u5c55\u81f3\u533b\u7597\u9886\u57df\u3002 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Lee","author_link":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/"},"uagb_comment_info":0,"uagb_excerpt":"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u60a6\u6995\u63a7\u80a1(BTH SP)\uff1a\u5f15\u9886\u4e9a\u592a\u5730\u533a\u4e0d\u65ad\u53d8\u5316\u7684\u65c5\u6e38\u683c\u5c40 (Source: Bloomberg) \u5409\u5b9d\u4f01\u4e1a (KEP SP): \u8d4b\u80fd\u667a\u6167\u4e0e\u7eff\u8272\u672a\u6765 (Source: Bloomberg) \u6c5f\u897f\u94dc\u4e1a (358 HK)\uff1a\u7ecf\u6d4e\u4e50\u89c2 \u94dc\u4ef7 (Source: Bloomberg) (Source: Bloomberg) \u79fb\u5361 (9923 HK): \u7a33\u5b9a\u5e01\u4f5c\u4e3a\u8de8\u5883\u652f\u4ed8\u5de5\u5177 (Source: Bloomberg) \u5df4\u514b\u83b1\u94f6\u884c (BCS US)\uff1a\u8d37\u6b3e\u7c3f\u63a8\u52a8\u589e\u957f (Source: Bloomberg) \u5fb7\u610f\u5fd7\u94f6\u884c (DB US): 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