{"id":72318,"date":"2025-07-21T07:32:22","date_gmt":"2025-07-20T23:32:22","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=72318"},"modified":"2025-07-21T07:32:22","modified_gmt":"2025-07-20T23:32:22","slug":"kgi-daily-trading-ideas-21-jul-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-21-jul-2025-zh\/","title":{"rendered":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e747\u670821\u65e5:"},"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 size-full\" id=\"sp\"><img fetchpriority=\"high\" decoding=\"async\" width=\"940\" height=\"200\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28.png\" alt=\"\" class=\"wp-image-69977\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-72318-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1919\" height=\"848\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-33.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-72350\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-33.png 1919w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-33-300x133.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-33-1024x453.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-33-768x339.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-33-1536x679.png 1536w\" sizes=\"(max-width: 1919px) 100vw, 1919px\" \/><\/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\/07\/a-screen-shot-of-a-graph-ai-generated-content-may.png\" alt=\"A screen shot of a graph\n\nAI-generated content may be incorrect.\" class=\"wp-image-72351\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screen-shot-of-a-graph-ai-generated-content-may.png 1071w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screen-shot-of-a-graph-ai-generated-content-may-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screen-shot-of-a-graph-ai-generated-content-may-1024x262.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screen-shot-of-a-graph-ai-generated-content-may-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\/07\/a-screen-shot-of-a-chart-ai-generated-content-may-1.png\" alt=\"A screen shot of a chart\n\nAI-generated content may be incorrect.\" class=\"wp-image-72352\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screen-shot-of-a-chart-ai-generated-content-may-1.png 915w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screen-shot-of-a-chart-ai-generated-content-may-1-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screen-shot-of-a-chart-ai-generated-content-may-1-768x237.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\/07\/word-image-72318-4.png\" alt=\"\" class=\"wp-image-72353\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-4-300x64.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-72318-_qqv3rtx8nazp\"><\/a><a id=\"post-72318-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\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=\"2178\" height=\"1053\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-video-game-ai-generated-content-4.png\" alt=\"A screenshot of a video game\n\nAI-generated content may be incorrect.\" class=\"wp-image-72354\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-video-game-ai-generated-content-4.png 2178w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-video-game-ai-generated-content-4-300x145.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-video-game-ai-generated-content-4-1024x495.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-video-game-ai-generated-content-4-768x371.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-video-game-ai-generated-content-4-1536x743.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-video-game-ai-generated-content-4-2048x990.png 2048w\" sizes=\"(max-width: 2178px) 100vw, 2178px\" \/><\/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\/07\/word-image-72318-6.png\" alt=\"\" class=\"wp-image-72355\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-6-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sg\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-7.png\" class=\"wp-image-72356\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u60a6\u6995\u63a7\u80a1 (BTH SP)\uff1a\u5728\u5404\u5e02\u573a\u6269\u5f20<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.66\uff0c\u76ee\u6807\u4ef7\uff1a0.72\uff0c\u6b62\u635f\u4ef7\uff1a0.63<\/strong><br>  <\/li>\n\n\n\n<li>\u60a6\u6995\u63a7\u80a1\u6709\u9650\u516c\u53f8\u4f5c\u4e3a\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\u8fd0\u4f5c\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u8be5\u516c\u53f8\u62e5\u6709\u5e76\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>\u5728\u6b27\u6d32\u5962\u4f88\u517b\u751f\u5e02\u573a\u6269\u5f20\u3002<\/strong>\u60a6\u6995\u63a7\u80a1\u5728\u9a6c\u5fb7\u91cc\u58f0\u671b\u5353\u8457\u7684\u8428\u62c9\u66fc\u5361\u533a\u9996\u6b21\u63a8\u51fa\u5176\u6b27\u6d32\u54c1\u724c\u4f4f\u5b85Padilla 32\uff0c\u65e8\u5728\u5229\u7528\u65e5\u76ca\u589e\u957f\u7684\u4ee5\u517b\u751f\u4e3a\u4e3b\u5bfc\u3001\u8bbe\u8ba1\u4e3a\u91cd\u70b9\u7684\u5962\u4f88\u751f\u6d3b\u9700\u6c42\u3002\u9a6c\u5fb7\u91cc\u65b0\u5efa\u623f\u4ef7\u8fbe\u5230\u6bcf\u5e73\u65b9\u7c7332,171\u7f8e\u5143\uff0c\u800cPadilla\u7684\u5e73\u5747\u4ef7\u683c\u4e3a\u6bcf\u5e73\u65b9\u7c7323,458\u7f8e\u5143\uff0c\u8fd9\u4f7f\u5f97\u8be5\u9879\u76ee\u5728\u6b27\u6d32\u4f9b\u5e94\u7d27\u5f20\u7684\u5e02\u573a\u4e2d\u5177\u6709\u5f3a\u5927\u7684\u6295\u8d44\u5438\u5f15\u529b\u3002\u8be5\u9879\u76ee\u5305\u542b24\u5957\u4f4f\u5b85\uff0c\u7ed3\u5408\u4e86\u4f20\u7edf\u5efa\u7b51\u4e0e\u60a6\u6995\u63a7\u80a1\u7684\u6c34\u7597\u98ce\u683c\u7406\u5ff5\uff0c\u7b26\u5408Savills\u9884\u8ba1\u52302026\u5e74\u54c1\u724c\u4f4f\u5b85\u5c06\u589e\u957f55%\u7684\u5168\u7403\u5174\u8da3\u3002\u968f\u7740\u9ad8\u51c0\u503c\u4e2a\u4f53\u8d8a\u6765\u8d8a\u91cd\u89c6\u517b\u751f\u3001\u751f\u6d3b\u8d28\u91cf\u548c\u54c1\u724c\u4fe1\u4efb\uff0c\u60a6\u6995\u63a7\u80a1\u5728\u97e7\u6027\u5962\u4f88\u623f\u5730\u4ea7\u5e02\u573a\u4e2d\u7684\u6269\u5c55\u524d\u666f\u826f\u597d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u533a\u57df\u65c5\u884c\u9700\u6c42\u6fc0\u589e\u3002<\/strong>\u6839\u636e\u4e07\u4e8b\u8fbe\u5361\u7ecf\u6d4e\u7814\u7a76\u6240\u7684\u300a2025\u5e74\u65c5\u884c\u8d8b\u52bf\u62a5\u544a\u300b\uff0c\u4e9a\u592a\u5730\u533a\u7ee7\u7eed\u5f15\u9886\u5168\u7403\u590f\u5b63\u65c5\u884c\uff0c\u5176\u4e2d\u5305\u62ec\u4e1c\u4eac\u3001\u5927\u962a\u548c\u65b0\u5174\u70ed\u95e8\u5730\u82bd\u5e84\u5728\u5185\u768415\u4e2a\u70ed\u95e8\u76ee\u7684\u5730\u4e2d\u76848\u4e2a\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\u4ee5\u517b\u751f\u4e3a\u9a71\u52a8\u7684\u81ea\u7136\u548c\u7f8e\u98df\u65c5\u884c\u7684\u9700\u6c42\u4e0a\u5347\u3002\u968f\u7740\u4e2d\u56fd\u548c\u5370\u5ea6\u5728\u51fa\u5883\u65c5\u6e38\u589e\u957f\u4e2d\u7684\u9886\u5148\uff0c\u6e38\u5ba2\u5bfb\u6c42\u9ad8\u4ef7\u503c\u3001\u6c89\u6d78\u5f0f\u7684\u4f53\u9a8c\u3002\u8fd9\u4e9b\u6d88\u8d39\u8f6c\u53d8\u4e0e\u60a6\u6995\u63a7\u80a1\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\u7e41\u8363\u7684\u65c5\u884c\u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u5b9a\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u533a\u57df\u6d41\u52a8\u6027\u5f3a\u52b2\u3002<\/strong>\u4e9a\u592a\u822a\u7a7a\u534f\u4f1a\uff08AAPA\uff09\u62a5\u544a\u79f0\uff0c2025\u5e744\u6708\u56fd\u9645\u4e58\u5ba2\u540c\u6bd4\u589e\u957f10.5%\uff0c\u8425\u6536\u4e58\u5ba2\u516c\u91cc\uff08RPK\uff09\u4e0a\u534712.6%\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u957f\u9014\u65c5\u884c\u9700\u6c42\u3002\u5c3d\u7ba1\u5168\u7403\u8d38\u6613\u9762\u4e34\u6301\u7eed\u7684\u6311\u6218\uff0c\u822a\u7a7a\u8d27\u8fd0\u6d41\u91cf\u4e5f\u589e\u957f\u4e864.9%\u3002\u8fd9\u4e9b\u6307\u6807\u7a81\u663e\u4e86\u6301\u7eed\u7684\u533a\u57df\u8fde\u901a\u6027\u548c\u65c5\u6e38\u9700\u6c42\uff0c\u5c06\u7ee7\u7eed\u652f\u6301\u60a6\u6995\u63a7\u80a1\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\u5173\u952e\u7684\u4e9a\u592a\u5e02\u573a\u4e2d\uff0c\u80fd\u591f\u4ece\u6d41\u52a8\u6027\u548c\u6d88\u8d39\u8005\u5bf9\u4f53\u9a8c\u5bfc\u5411\u7684\u5962\u534e\u4f4f\u5bbf\u7684\u5174\u8da3\u4e2d\u53d7\u76ca\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002<\/strong>\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\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\u52301.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u56e0\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u8d21\u732e\u589e\u52a0\u3002\u7a0e\u540e\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u4e00\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece\u4e0a\u4e00\u8d22\u5e74\u76840.037\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\u5f55\u4e8691\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u4e2a\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u4e8617\u5bb6\u65b0\u9152\u5e97\u548c\u5ea6\u5047\u6751\u7684\u5f00\u4e1a\uff0c\u5176\u4e2d6\u5bb6\u4f4d\u4e8e\u65e5\u672c\u548c\u97e9\u56fd\uff0c8\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\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<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-72357\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-8.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-8.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-8-300x64.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=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-9.jpeg\" alt=\"\" class=\"wp-image-72358\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-9.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-9-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-9-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-9-768x370.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\/07\/a-long-line-of-a-white-background-description-aut-17.png\" class=\"wp-image-72359\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-white-background-description-aut-17.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-white-background-description-aut-17-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure> <\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Seatrium Ltd. (STM SP)\uff1a\u5b9e\u529b\u96c4\u539a\uff0c\u6210\u5c31\u8f89\u714c<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.24\uff0c\u76ee\u6807\u4ef7\uff1a2.44\uff0c\u6b62\u635f\u4ef7\uff1a2.14<\/strong><br>  <\/li>\n\n\n\n<li>Seatrium Ltd \u4e3a\u6d77\u5de5\u3001\u6d77\u4e8b\u548c\u80fd\u6e90\u884c\u4e1a\u63d0\u4f9b\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u94bb\u4e95\u5e73\u53f0\u548c\u6d6e\u5f0f\u751f\u4ea7\u88c5\u7f6e\u3001\u7ef4\u4fee\u548c\u5347\u7ea7\u670d\u52a1\u3001\u6d77\u5de5\u5e73\u53f0\u4ee5\u53ca\u4e13\u4e1a\u9020\u8239\u670d\u52a1\u3002Seatrium \u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5f3a\u52b2\u7684\u8ba2\u5355\u50a8\u5907\u3002 <\/strong>\u622a\u81f33\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\uff08Seatrium\uff09\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u8fbe\u5230213\u4ebf\u7f8e\u5143\uff0c\u6db5\u76d626\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u81f32031\u5e74\u3002\u5176\u4e2d\uff0c71\u4ebf\u7f8e\u5143\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u3002\u5c3d\u7ba1\u9762\u4e34\u5168\u7403\u4e0d\u786e\u5b9a\u6027\uff0c\u80dc\u79d1\u6d77\u4e8b\u4ecd\u4fdd\u6301\u7a33\u5b9a\u7684\u6cb9\u6c14\u9879\u76ee\u50a8\u5907\uff0c\u5176\u4e2d\u4e3a\u5357\u7f8e\u6d32\u548c\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\uff08Petrobras\uff09\u5efa\u9020\u7684\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\uff08FPSO\uff09\u9879\u76ee\u53d6\u5f97\u663e\u8457\u8fdb\u5c55\u3002\u516c\u53f8\u8fd8\u5728\u62d3\u5c55\u6d77\u4e0a\u53ef\u518d\u751f\u80fd\u6e90\u9886\u57df\uff0c\u5728\u6b27\u6d32\u3001\u4e9a\u6d32\u548c\u4e2d\u56fd\u53f0\u6e7e\u5747\u6709\u9879\u76ee\u3002\u5c3d\u7ba1\u7f8e\u56fd\u9762\u4e34\u6311\u6218\uff0c\u6b27\u6d32\u548c\u4e9a\u592a\u5730\u533a\u7684\u6d77\u4e0a\u98ce\u7535\u5e02\u573a\u4f9d\u7136\u5f3a\u52b2\u3002\u5176\u9996\u5e2d\u6267\u884c\u5b98\u6307\u51fa\u4f9b\u5e94\u94fe\u95ee\u9898\u5fae\u4e4e\u5176\u5fae\uff0c\u5e76\u8868\u793a\u516c\u53f8\u5728\u80fd\u6e90\u8f6c\u578b\u65b9\u9762\u7684\u591a\u5143\u5316\u5e03\u5c40\u4f7f\u5176\u5904\u4e8e\u6709\u5229\u5730\u4f4d\u3002\u80dc\u79d1\u6d77\u4e8b\u8fd8\u62a5\u544a\u79f0\uff0c\u7b2c\u4e00\u5b63\u5ea6\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\uff0c\u5305\u62ec\u90ae\u8f6e\u6539\u88c5\u548c\u78b3\u6355\u83b7\u5347\u7ea7\u3002\u516c\u53f8\u4e8e2024\u5e74\u6062\u590d\u76c8\u5229\uff0c\u5b9e\u73b0\u51c0\u5229\u6da61.57\u4ebf\u7f8e\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5411\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u4ea4\u4ed8\u6574\u88c5\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u3002 <\/strong>\u80dc\u79d1\u6d77\u4e8b\u5728\u5411\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u4ea4\u4ed8P-78\u53f7\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u65b9\u9762\u53d6\u5f97\u4e86\u91cd\u8981\u7684\u8fd0\u8425\u91cc\u7a0b\u7891\uff0c\u8fd9\u6807\u5fd7\u7740\u4e3a\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u63d0\u4f9b\u7684\u4e00\u7cfb\u5217\u6574\u88c5\u9879\u76ee\u4e2d\u7684\u9996\u4e2a\u4ea4\u4ed8\u3002\u8be5\u8239\u90e8\u7f72\u5728\u4e16\u754c\u6700\u5927\u7684\u6df1\u6c34\u6cb9\u7530B\u00fazios\u6cb9\u7530\uff0c\u62e5\u6709\u6bcf\u592918\u4e07\u6876\u7684\u751f\u4ea7\u80fd\u529b\uff0c\u4f4d\u5c45\u5168\u7403\u6700\u5927\u7684\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u4e4b\u5217\u3002\u8be5\u9879\u76ee\u5c55\u793a\u4e86\u80dc\u79d1\u6d77\u4e8b\u7684\u5168\u7403\u4ea4\u4ed8\u80fd\u529b\uff0c\u5176\u4e0a\u90e8\u6a21\u5757\u5728\u65b0\u52a0\u5761\u3001\u4e2d\u56fd\u548c\u5df4\u897f\u8fdb\u884c\u5efa\u9020\uff0c\u5e76\u4f53\u73b0\u4e86\u5176\u4f5c\u4e3a\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u8131\u78b3\u8fdb\u7a0b\u4e2d\u5173\u952e\u5408\u4f5c\u4f19\u4f34\u7684\u89d2\u8272\u3002P-78\u53f7\u662f\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f815\u5e74\u591a\u4ee5\u6765\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u5efa\u8bbe\u9057\u4ea7\u7684\u7ed3\u6676\uff0c\u5176\u6210\u529f\u4ea4\u4ed8\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u80dc\u79d1\u6d77\u4e8b\u5728\u6d77\u4e0a\u751f\u4ea7\u9886\u57df\u7684\u6280\u672f\u9886\u5148\u5730\u4f4d\uff0c\u540c\u65f6\u652f\u6301\u4e86\u5df4\u897f\u7684\u80fd\u6e90\u57fa\u7840\u8bbe\u65bd\u5efa\u8bbe\u548c\u5c31\u4e1a\u521b\u9020\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6df1\u5316\u5bf9ESG\u7684\u627f\u8bfa\u3002 <\/strong>\u80dc\u79d1\u6d77\u4e8b\u83b7\u5f97\u4e86\u5927\u534e\u94f6\u884c\uff08United Overseas Bank\uff094\u4ebf\u7f8e\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u5faa\u73af\u4fe1\u8d37\u989d\u5ea6\u3002\u8be5\u878d\u8d44\u7b26\u5408\u80dc\u79d1\u6d77\u4e8b\u7684\u53ef\u6301\u7eed\u91d1\u878d\u6846\u67b6\uff0c\u5e76\u5f3a\u5316\u4e86\u5176\u5bf9\u6c14\u5019\u53cb\u597d\u578b\u8d44\u672c\u6218\u7565\u7684\u627f\u8bfa\u3002\u81ea2023\u5e74\u4ee5\u6765\uff0c\u96c6\u56e2\u5df2\u83b7\u5f97\u8d85\u8fc730\u4ebf\u65b0\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u548c\u7eff\u8272\u878d\u8d44\uff0c\u6301\u7eed\u5c06\u73af\u5883\u8d23\u4efb\u878d\u5165\u5176\u8fd0\u8425\u4e2d\u3002\u8be5\u878d\u8d44\u652f\u6301\u80dc\u79d1\u6d77\u4e8b2030\u5e74\u53ef\u6301\u7eed\u53d1\u5c55\u613f\u666f\uff0c\u91cd\u70b9\u662f\u4e3a\u5ba2\u6237\u63d0\u4f9b\u8282\u80fd\u7684\u6d77\u5de5\u548c\u6d77\u4e8b\u57fa\u7840\u8bbe\u65bd\u3002\u8fd9\u4f7f\u5f97\u80dc\u79d1\u6d77\u4e8b\u5728\u5168\u7403\u8131\u78b3\u548c\u6d77\u4e0a\u80fd\u6e90\u884c\u4e1a\u8d1f\u8d23\u4efb\u589e\u957f\u7684\u63a8\u52a8\u4e0b\uff0c\u6210\u4e3a\u9886\u5148\u7684\u53ef\u6301\u7eed\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 <\/strong>\u622a\u81f32025\u5e743\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u4e3a213\u4ebf\u65b0\u5143\uff0c\u5305\u62ec26\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u5ef6\u957f\u81f32031\u5e74\u3002\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\/\u6e05\u6d01\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u7684\u9879\u76ee\u5360\u51c0\u8ba2\u5355\u50a8\u5907\u768471\u4ebf\u65b0\u5143\u3002\u672c\u5b63\u5ea6\uff0c\u516c\u53f8\u4ea4\u4ed8\u4e86\u4e00\u4e2a\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u6574\u5408\u9879\u76ee\uff0c\u5e76\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\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-72360\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-26.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\/07\/a-blue-and-white-rectangular-object-with-white-tex-26.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-26-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><img loading=\"lazy\" decoding=\"async\" width=\"1222\" height=\"596\" class=\"wp-image-72361\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-lines-and-numbers-ai-generated-conte-11.jpeg\" alt=\"A graph with lines and numbers\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-lines-and-numbers-ai-generated-conte-11.jpeg 1222w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-lines-and-numbers-ai-generated-conte-11-300x146.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-lines-and-numbers-ai-generated-conte-11-1024x499.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-lines-and-numbers-ai-generated-conte-11-768x375.jpeg 768w\" sizes=\"(max-width: 1222px) 100vw, 1222px\" \/> <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/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\/07\/word-image-72318-13.png\" class=\"wp-image-72362\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-13-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"hk\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-14.png\" class=\"wp-image-72363\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><a id=\"post-72318-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e1c\u65b9\u7535\u6c14 (1072 HK)\uff1a\u611f\u53d7\u70ed\u5ea6<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a14.6\uff0c\u76ee\u6807\u4ef7\uff1a16.6\uff0c\u6b62\u635f\u4ef7\uff1a13.6<\/strong><br>  <\/li>\n\n\n\n<li>\u4e1c\u65b9\u7535\u6c14\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u63d0\u4f9b\u9ad8\u7aef\u80fd\u6e90\u88c5\u5907\u53ca\u76f8\u5173\u670d\u52a1\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u4e94\u4e2a\u5206\u90e8\u5f00\u5c55\u4e1a\u52a1\u3002\u53ef\u518d\u751f\u80fd\u6e90\u88c5\u5907\u5206\u90e8\u4e3b\u8981\u5305\u62ec\u98ce\u7535\u3001\u6c34\u7535\u548c\u5316\u5de5\u5bb9\u5668\u3001\u7535\u529b\u7535\u5b50\u4e0e\u63a7\u5236\u7b49\u9ad8\u7aef\u88c5\u5907\u3002\u6e05\u6d01\u9ad8\u6548\u80fd\u6e90\u88c5\u5907\u5206\u90e8\u4e3b\u8981\u5305\u62ec\u7164\u7535\u3001\u71c3\u673a\u548c\u6838\u7535\u4e1a\u52a1\u3002\u5de5\u7a0b\u4e0e\u8d38\u6613\u5206\u90e8\u4e3b\u8981\u5305\u62ec\u5de5\u7a0b\u603b\u627f\u5305\u670d\u52a1\u548c\u8d38\u6613\u4e1a\u52a1\u3002\u73b0\u4ee3\u5236\u9020\u670d\u52a1\u4e1a\u5206\u90e8\u4e3b\u8981\u5305\u62ec\u7535\u7ad9\u670d\u52a1\u548c\u91d1\u878d\u670d\u52a1\u3002\u65b0\u5174\u6210\u957f\u4ea7\u4e1a\u5206\u90e8\u4e3b\u8981\u5305\u62ec\u98ce\u7535\u3001\u8282\u80fd\u73af\u4fdd\u4ea7\u4e1a\u3001\u7535\u529b\u7535\u5b50\u4e0e\u63a7\u5236\u4ea7\u4e1a\u3001\u6c22\u80fd\u4ea7\u4e1a\u548c\u667a\u80fd\u5236\u9020\u4ea7\u4e1a\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u4e2d\u56fd\u56fd\u5185\u548c\u6d77\u5916\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002 <br>  <\/li>\n\n\n\n<li><strong>\u7834\u7eaa\u5f55\u7684\u70ed\u6d6a\u3002<\/strong>\u4e2d\u56fd\u6301\u7eed\u9762\u4e34\u5927\u8303\u56f4\u70ed\u6d6a\uff0c\u56fd\u5bb6\u6c14\u8c61\u4e2d\u5fc3\u8fd1\u671f\u5df2\u518d\u6b21\u53d1\u5e03\u9ad8\u6e29\u6a59\u8272\u9884\u8b66\u3002\u9884\u62a5\u663e\u793a\uff0c\u4e2d\u56fd\u591a\u5730\u767d\u5929\u6700\u9ad8\u6c14\u6e29\u5c06\u8d85\u8fc735\u00b0C\u3002\u4e0a\u5468\uff0c\u9655\u897f\u7701\u6709\u516b\u4e2a\u6c14\u8c61\u7ad9\u5f55\u5f97\u6709\u53f2\u4ee5\u6765\u6700\u9ad8\u6c14\u6e29\uff0c\u4fc3\u4f7f\u591a\u4e2a\u5730\u533a\u53d1\u5e03\u4e86\u6781\u7aef\u9ad8\u6e29\u7ea2\u8272\u9884\u8b66\u3002\u897f\u5b89\u3001\u5b9d\u9e21\u3001\u54b8\u9633\u3001\u6e2d\u5357\u3001\u6c49\u4e2d\u548c\u5b89\u5eb7\u7b49\u57ce\u5e02\u6c14\u6e29\u6574\u5468\u98d9\u5347\u81f340\u00b0C\u4ee5\u4e0a\u3002\u636e\u56fd\u5bb6\u9884\u8b66\u4e2d\u5fc3\u6570\u636e\uff0c\u622a\u81f3\u5468\u4e09\u4e2d\u5348\uff0c\u5168\u56fd\u5df2\u7d2f\u8ba1\u53d1\u5e0320,248\u4e2a\u9ad8\u6e29\u9884\u8b66\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u589e\u52a0\u903e40%\uff0c\u6bd42017\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u540c\u671f\u5e73\u5747\u6c34\u5e73\u9ad8\u51fa72%\u3002\u8fd9\u4e9b\u6781\u7aef\u5929\u6c14\u6761\u4ef6\u53ef\u80fd\u5bfc\u81f4\u7535\u529b\u9700\u6c42\u4e0a\u5347\uff0c\u4ece\u800c\u63a8\u9ad8\u7528\u7535\u91cf\uff0c\u5229\u597d\u4e1c\u65b9\u7535\u6c14\u80a1\u4efd\u6709\u9650\u516c\u53f8\u7b49\u4f01\u4e1a\u3002<br>  <\/li>\n\n\n\n<li><strong>\u7535\u529b\u9700\u6c42\u6fc0\u589e\u3002<\/strong>\u636e\u56fd\u5bb6\u80fd\u6e90\u5c40\u5b98\u5458\u79f0\uff0c\u6301\u7eed\u800c\u5f3a\u70c8\u7684\u9ad8\u6e29\u70ed\u6d6a\u5df2\u5c06\u4e2d\u56fd\u7684\u7535\u529b\u9700\u6c42\u63a8\u81f3\u65b0\u9ad8\uff0c\u8d85\u8fc715\u4ebf\u5343\u74e6\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u4eba\u5de5\u667a\u80fd\u53ca\u5176\u4ed6\u5148\u8fdb\u6280\u672f\u7684\u5feb\u901f\u53d1\u5c55\u52a0\u901f\u4e86\u5168\u56fd\u6570\u636e\u4e2d\u5fc3\u7684\u6269\u5f20\uff0c\u8fdb\u4e00\u6b65\u52a0\u5267\u4e86\u7535\u7f51\u7684\u538b\u529b\u3002\u56fd\u9645\u80fd\u6e90\u7f72\uff08IEA\uff09\u62a5\u544a\u663e\u793a\uff0c2024\u5e74\u4e2d\u56fd\u7684\u6570\u636e\u4e2d\u5fc3\u7528\u7535\u91cf\u5360\u5168\u7403\u768425%\uff0c\u4ec5\u6b21\u4e8e\u7f8e\u56fd\u3002\u9884\u8ba1\u8fd9\u4e00\u8d8b\u52bf\u5c06\u6301\u7eed\u4e0b\u53bb\uff0c\u90e8\u5206\u539f\u56e0\u5728\u4e8e\u4eba\u5de5\u667a\u80fd\u7684\u666e\u53ca\uff0c\u8fd9\u5c06\u5bfc\u81f4\u7535\u529b\u9700\u6c42\u6301\u7eed\u589e\u957f\uff0c\u4e3a\u4e1c\u65b9\u7535\u6c14\u80a1\u4efd\u6709\u9650\u516c\u53f8\u7b49\u7535\u529b\u8bbe\u5907\u4f9b\u5e94\u5546\u63d0\u4f9b\u4e86\u6709\u5229\u80cc\u666f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6d77\u4e0a\u98ce\u7535\u6280\u672f\u7a81\u7834\u3002<\/strong>\u4e1c\u65b9\u7535\u6c14\u4e0e\u4e2d\u56fd\u534e\u80fd\u96c6\u56e2\u5408\u4f5c\uff0c\u6210\u529f\u63a8\u51fa\u4e86\u65b0\u578b17\u5146\u74e6\u76f4\u9a71\u6f02\u6d6e\u5f0f\u6d77\u4e0a\u98ce\u529b\u53d1\u7535\u673a\u7ec4\u3002\u8be5\u673a\u7ec4\u4e13\u4e3a\u6df1\u6d77\u4f5c\u4e1a\u548c\u62b5\u5fa1\u6076\u52a3\u6d77\u6d0b\u73af\u5883\uff08\u5305\u62ec24\u7c73\u4ee5\u4e0a\u5de8\u6d6a\u548c\u9ad8\u8fbe220\u516c\u91cc\/\u5c0f\u65f6\u7684\u53f0\u98ce\u7ea7\u5927\u98ce\uff09\u800c\u8bbe\u8ba1\uff0c\u5c06\u5728\u5e7f\u4e1c\u7701\u9633\u6c5f\u9644\u8fd1\u8fdb\u884c\u6d4b\u8bd5\u3002\u6295\u5165\u8fd0\u8425\u540e\uff0c\u9884\u8ba1\u6bcf\u5e74\u53ef\u53d1\u7535\u7ea66800\u4e07\u5343\u74e6\u65f6\uff0c\u8db3\u4ee5\u4e3a\u7ea64\u4e07\u6237\u5bb6\u5ead\u4f9b\u7535\u3002\u8fd9\u4e00\u521b\u65b0\u6807\u5fd7\u7740\u4e2d\u56fd\u6d77\u4e0a\u98ce\u7535\u80fd\u529b\u8fc8\u51fa\u4e86\u91cd\u8981\u4e00\u6b65\uff0c\u5e76\u6709\u671b\u5728\u672a\u6765\u51e0\u5e74\u663e\u8457\u63d0\u5347\u4e2d\u56fd\u7684\u53ef\u518d\u751f\u80fd\u6e90\u53d1\u7535\u91cf\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u76c8\u5229\u56de\u987e\u3002<\/strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u540c\u6bd4\u589e\u957f9.93%\uff0c\u8fbe\u5230\u4eba\u6c11\u5e01165.5\u4ebf\u5143\uff0c\u800c2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a\u4eba\u6c11\u5e01150.5\u4ebf\u5143\u30022025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f27.39%\uff0c\u8fbe\u5230\u4eba\u6c11\u5e0111.5\u4ebf\u5143\uff0c\u800c2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a\u4eba\u6c11\u5e019.058\u4ebf\u5143\u30022025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f3\u4eba\u6c11\u5e010.37\u5143\uff0c\u800c2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a\u4eba\u6c11\u5e010.29\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-72364\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-15.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-15-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-16.jpeg\" alt=\"\" class=\"wp-image-72365\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-16.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-16-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-16-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-16-768x370.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\/07\/word-image-72318-17.png\" class=\"wp-image-72366\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-17.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-17-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4eac\u4e1c\u5065\u5eb7 (6618 HK)\uff1a\u5065\u5eb7\u5c31\u662f\u8d22\u5bcc<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a46.0\uff0c\u76ee\u6807\u4ef7\uff1a52.0\uff0c\u6b62\u635f\u4ef7\uff1a43.0<\/strong><br>  <\/li>\n\n\n\n<li>\u4eac\u4e1c\u5065\u5eb7\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u201c\u4e92\u806f\u7db2+\u91ab\u7642\u5065\u5eb7\u201d\u751f\u6001\u7cfb\u7edf\u4e1a\u52a1\u7684\u4e2d\u56fd\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u70ba\u5ba2\u6236\u63d0\u4f9b\u91ab\u85e5\u548c\u5065\u5eb7\u7522\u54c1\u3001\u4e92\u806f\u7db2\u91ab\u7642\u3001\u5065\u5eb7\u7ba1\u7406\u53ca\u667a\u80fd\u91ab\u7642\u4fdd\u5065\u89e3\u6c7a\u65b9\u6848\u53ca\u70ba\u696d\u52d9\u5408\u4f5c\u5925\u4f34\u63d0\u4f9b\u5e02\u5834\u71df\u92b7\u670d\u52d9\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u9996\u5bb6\u81ea\u8425\u533b\u7f8e\u8bca\u6240\u5f00\u4e1a\u3002<\/strong>\u636e\u4e2d\u56fd\u5a92\u4f53\u62a5\u9053\uff0c\u4eac\u4e1c\u5065\u5eb7\u5df2\u5728\u5317\u4eac\u4ea6\u5e84\u6084\u7136\u5f00\u8bbe\u4e86\u9996\u5bb6\u7ebf\u4e0b\u81ea\u8425\u533b\u7f8e\u8bca\u6240\uff0c\u54c1\u724c\u540d\u4e3a\u201c\u4eac\u4e1c\u533b\u7f8e\u201d\u3002\u8be5\u8bca\u6240\u4e0e\u4eac\u4e1cApp\u4e0a\u7684\u533b\u7597\u7f8e\u5bb9\u670d\u52a1\u5e73\u53f0\u76f8\u5173\u8054\u3002\u5c3d\u7ba1\u5df2\u8bd5\u8fd0\u8425\u4e24\u4e2a\u591a\u6708\uff0c\u4f46\u76ee\u524d\u4ec5\u5bf9\u4eac\u4e1c\u5185\u90e8\u5458\u5de5\u5f00\u653e\u3002\u6d88\u606f\u4eba\u58eb\u900f\u9732\uff0c\u7b2c\u4e8c\u5bb6\u8bca\u6240\u201c\u56fd\u8d38\u5e97\u201d\u9884\u8ba1\u6700\u65e9\u5c06\u4e8e\u4eca\u5e749\u6708\u621610\u6708\u5728\u5317\u4eac\u5f00\u4e1a\u3002\u8fd9\u6807\u5fd7\u7740\u4eac\u4e1c\u5065\u5eb7\u5f00\u59cb\u62d3\u5c55\u7ebf\u4e0b\u533b\u7f8e\u8bca\u6240\u4e1a\u52a1\uff0c\u6709\u671b\u4e3a\u516c\u53f8\u5e26\u6765\u957f\u671f\u589e\u957f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0e\u4fe1\u8fbe\u751f\u7269\u8fbe\u6210\u6218\u7565\u5408\u4f5c\u3002<\/strong>\u4eac\u4e1c\u5065\u5eb7\u4e0e\u4fe1\u8fbe\u751f\u7269\u5236\u836f\u8fbe\u6210\u6218\u7565\u5408\u4f5c\uff0c\u91cd\u70b9\u5728\u4e8e\u4f18\u5316\u4f9b\u5e94\u94fe\u548c\u62d3\u5c55\u9500\u552e\u6e20\u9053\uff0c\u4ee5\u914d\u5408\u4fe1\u8fbe\u751f\u7269GLP-1\u836f\u7269\u66ff\u5c14\u6cca\u80bd\uff08mazdutide\uff09\u7684\u4e0a\u5e02\u3002\u6b64\u6b21\u5408\u4f5c\u8fd8\u5c06\u5305\u62ec\u4e00\u9879\u8054\u5408\u6d88\u8d39\u8005\u6559\u80b2\u6d3b\u52a8\uff0c\u901a\u8fc7\u7ebf\u4e0a\u548c\u7ebf\u4e0b\u6e20\u9053\u63d0\u9ad8\u516c\u4f17\u5bf9\u4f53\u91cd\u7ba1\u7406\u548c\u8840\u7cd6\u7ba1\u7406\u7684\u8ba4\u77e5\u3002\u4fe1\u8fbe\u751f\u7269\u4f5c\u4e3a\u4e2d\u56fd\u9996\u5bb6\u83b7\u6279\u9500\u552eGLP-1\u51cf\u80a5\u548c\u7cd6\u5c3f\u75c5\u836f\u7269\u7684\u516c\u53f8\uff0c\u5c06\u5145\u5206\u5229\u7528\u4eac\u4e1c\u5065\u5eb7\u5e7f\u6cdb\u7684\u7ebf\u4e0a\u5206\u9500\u7f51\u7edc\u3002\u9274\u4e8e\u4e2d\u56fd\u65e5\u76ca\u4e25\u91cd\u7684\u80a5\u80d6\u95ee\u9898\uff0c\u9884\u8ba1\u52302035\u5e74\uff0c\u56fd\u5185\u51cf\u80a5\u836f\u5e02\u573a\u89c4\u6a21\u5c06\u8fbe\u5230\u4eba\u6c11\u5e01400\u4ebf\u5143\u3002\u6b64\u6b21\u5408\u4f5c\u4f7f\u4eac\u4e1c\u5065\u5eb7\u80fd\u591f\u4eceGLP-1\u7597\u6cd5\u4e0d\u65ad\u589e\u957f\u7684\u9700\u6c42\u4e2d\u83b7\u76ca\u3002<br>  <\/li>\n\n\n\n<li><strong>2024\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2024\u8d22\u5e74\u6536\u5165\u540c\u6bd4\u589e\u957f8.6%\u81f3\u4eba\u6c11\u5e01582\u4ebf\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e01535\u4ebf\u5143\u30022024\u8d22\u5e74\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f94.0%\u81f3\u4eba\u6c11\u5e0141.6\u4ebf\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e0121.4\u4ebf\u5143\u30022024\u8d22\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f3\u4eba\u6c11\u5e011.32\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e010.69\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-72367\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-numbers-15.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-numbers-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-numbers-15-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1222\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-16.jpeg\" alt=\"A graph on a white background\n\nAI-generated content may be incorrect.\" class=\"wp-image-72368\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-16.jpeg 1222w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-16-300x146.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-16-1024x499.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-16-768x375.jpeg 768w\" sizes=\"(max-width: 1222px) 100vw, 1222px\" \/><\/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\/07\/word-image-72318-20.png\" alt=\"\" class=\"wp-image-72369\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-20.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-20-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\" id=\"us\"><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-21.png\" alt=\"\" class=\"wp-image-72370\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-21.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-21-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Circle Internet Group, Inc. (CRCL US)\uff1a\u52a0\u5bc6\u8d27\u5e01\u7684\u5708\u5b50<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a232 \u76ee\u6807\u4ef7\uff1a260 \u6b62\u635f\u4ef7\uff1a220<\/strong><br>  <\/li>\n\n\n\n<li>Circle Internet Group, Inc. \u63d0\u4f9b\u91d1\u878d\u79d1\u6280\u89e3\u51b3\u65b9\u6848\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u6570\u5b57\u8d44\u4ea7\u5e73\u53f0\u548c\u7f51\u7edc\u516c\u7528\u7cfb\u7edf\uff0c\u4f7f\u5404\u79cd\u89c4\u6a21\u7684\u4f01\u4e1a\u80fd\u591f\u5229\u7528\u6570\u5b57\u8d27\u5e01\u548c\u516c\u5171\u533a\u5757\u94fe\u7684\u529b\u91cf\u8fdb\u884c\u652f\u4ed8\u3001\u5546\u52a1\u548c\u91d1\u878d\u5e94\u7528\u3002Circle Internet Group \u670d\u52a1\u4e8e\u5168\u7403\u5ba2\u6237\u3002<br>  <\/li>\n\n\n\n<li><strong>USDC\u5e02\u573a\u89c4\u6a21\u4e3a\u5176\u4e1a\u52a1\u6838\u5fc3\u3002<\/strong>USDC\u662f\u4e00\u79cd\u4e0e\u7f8e\u51431:1\u951a\u5b9a\u7684\u7a33\u5b9a\u5e01\uff0c\u6bcf\u53d1\u884c\u4e00\u9897USDC\uff0cCircle\u5fc5\u987b\u786e\u4fdd\u6709\u7b49\u503c\u7684\u7f8e\u5143\u8d44\u4ea7\u4f5c\u4e3a\u50a8\u5907\u3002Circle\u5c06USDC\u50a8\u5907\u5b58\u653e\u4e8e\u77ed\u671f\u7f8e\u56fd\u56fd\u503a\u4e0e\u73b0\u91d1\u7b49\u8d44\u4ea7\u4e2d\uff0c\u4ece\u4e2d\u83b7\u53d6\u5229\u606f\u6536\u76ca\u3002\u8fd9\u662f\u5176\u4e3b\u8981\u76c8\u5229\u6765\u6e90\u3002\u76ee\u524dUSDC\u57282018\u5e74\u53d1\u884c\u65f6\u5e02\u503c\u4e3a2.3\u4ebf\u7f8e\u5143\uff0c\u5f53\u524d\u5e02\u503c\u63a5\u8fd1650\u4ebf\u7f8e\u5143\uff0c\u9884\u8ba12026\u5e74\u5c06\u8fbe\u52301000\u4ebf\u7f8e\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6269\u5927\u5168\u7403\u8bbf\u95ee\u548c\u6d41\u52a8\u6027\u3002<\/strong>Circle\u4e0eOKX\u7684\u5408\u4f5c\u4e3a\u8d85\u8fc76000\u4e07\u7528\u6237\u63d0\u4f9b\u65e0\u7f1d\u7684USDC\u8f6c\u6362\u4e3a\u7f8e\u5143\uff0c\u540c\u65f6\u901a\u8fc7\u5171\u4eab\u94f6\u884c\u4f19\u4f34\u7b80\u5316\u6cd5\u5e01\u7684\u8fdb\u51fa\u3002\u4e24\u8005\u8fd8\u5c06\u63a8\u51fa\u6559\u80b2\u8ba1\u5212\uff0c\u4ee5\u4fc3\u8fdb\u7a33\u5b9a\u5e01\u7684\u66f4\u5e7f\u6cdb\u91c7\u7528\u3002\u8fd9\u4e00\u4e3e\u63aa\u589e\u5f3a\u4e86USDC\u7684\u5b9e\u9645\u5e94\u7528\uff0c\u5e76\u4f7fCircle\u6210\u4e3a\u6570\u5b57\u91d1\u878d\u548cWeb3\u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u6838\u5fc3\u57fa\u7840\u8bbe\u65bd\u63d0\u4f9b\u8005\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5728\u7a81\u7834\u6027\u7a33\u5b9a\u5e01\u7acb\u6cd5\u4e2d\u5360\u636e\u6709\u5229\u4f4d\u7f6e\u3002<\/strong>Circle\u4f5c\u4e3aUSDC\u7684\u53d1\u884c\u65b9\uff0c\u5c06\u53d7\u76ca\u4e8eGENIUS\u6cd5\u6848\u2014\u2014\u7f8e\u56fd\u9996\u90e8\u76d1\u7ba1\u7a33\u5b9a\u5e01\u7684\u8054\u90a6\u6cd5\u6848\uff0c\u8be5\u6cd5\u6848\u786e\u8ba4\u4e86\u4e0e\u7f8e\u5143\u6302\u94a9\u7684\u6570\u5b57\u4ee3\u5e01\u7684\u6cd5\u5f8b\u5730\u4f4d\u3002\u5728\u5f3a\u5927\u7684\u4e24\u515a\u548c\u603b\u7edf\u652f\u6301\u4e0b\uff0c\u8fd9\u9879\u6cd5\u6848\u4e3a\u652f\u4ed8\u548c\u91d1\u878d\u7684\u4e3b\u6d41\u91c7\u7528\u94fa\u5e73\u4e86\u9053\u8def\u3002\u4f5c\u4e3a\u7b2c\u4e8c\u5927\u7a33\u5b9a\u5e01\u53d1\u884c\u65b9\uff0cCircle\u5728\u63a8\u52a8\u673a\u6784\u6574\u5408\u548c\u5168\u7403USDC\u589e\u957f\u65b9\u9762\u5177\u6709\u826f\u597d\u7684\u4f4d\u7f6e\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4f20\u7edf\u91d1\u878d\u62e5\u62b1\u7a33\u5b9a\u5e01\u3002<\/strong>\u82b1\u65d7\u96c6\u56e2\u9996\u5e2d\u6267\u884c\u5b98\u7b80\u00b7\u5f17\u96f7\u6cfd\u786e\u8ba4\uff0c\u94f6\u884c\u6b63\u5728\u79ef\u6781\u63a2\u7d22\u53d1\u884c\u82b1\u65d7\u7a33\u5b9a\u5e01\uff0c\u5e76\u5c06\u4ee3\u5e01\u5316\u5b58\u6b3e\u4f5c\u4e3a\u5176\u66f4\u5e7f\u6cdb\u7684\u6570\u5b57\u91d1\u878d\u6218\u7565\u7684\u4f18\u5148\u4e8b\u9879\u3002\u968f\u7740\u82b1\u65d7\u7b49\u4f20\u7edf\u91d1\u878d\u5de8\u5934\u8fdb\u5165\u7a33\u5b9a\u5e01\u9886\u57df\uff0c\u5e76\u5c06\u6570\u5b57\u8d44\u4ea7\u89c6\u4e3a\u652f\u4ed8\u548c\u6d41\u52a8\u6027\u7684\u4e0b\u4e00\u6b21\u6f14\u53d8\uff0cCircle Internet Group\u5177\u6709\u826f\u597d\u7684\u53d7\u76ca\u6f5c\u529b\u3002\u7f8e\u56fd\u8054\u90a6\u52a0\u5bc6\u7acb\u6cd5\u7684\u901a\u8fc7\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u7a33\u5b9a\u5e01\u7684\u5408\u6cd5\u6027\u548c\u76d1\u7ba1\u57fa\u7840\uff0c\u5f3a\u5316\u4e86Circle\u5728\u8be5\u9886\u57df\u7684\u9886\u5148\u5730\u4f4d\uff0c\u56e0\u4e3a\u673a\u6784\u8d8a\u6765\u8d8a\u591a\u5730\u91c7\u7528\u533a\u5757\u94fe\u89e3\u51b3\u65b9\u6848\u7528\u4e8e\u8de8\u5883\u652f\u4ed8\u3001\u5408\u89c4\u548c\u4fdd\u7ba1<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\/07\/a-blue-and-white-rectangular-object-with-white-tex-27.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-72371\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-27.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-27-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1039\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-showing-a-number-of-candlesticks-ai-gener-1.jpeg\" alt=\"A graph showing a number of candlesticks\n\nAI-generated content may be incorrect.\" class=\"wp-image-72372\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-showing-a-number-of-candlesticks-ai-gener-1.jpeg 1039w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-showing-a-number-of-candlesticks-ai-gener-1-300x172.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-showing-a-number-of-candlesticks-ai-gener-1-1024x587.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-showing-a-number-of-candlesticks-ai-gener-1-768x441.jpeg 768w\" sizes=\"(max-width: 1039px) 100vw, 1039px\" \/><\/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\/07\/a-long-line-of-a-flag-description-automatically-g-17.png\" class=\"wp-image-72373\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-flag-description-automatically-g-17.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-flag-description-automatically-g-17-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-flag-description-automatically-g-17-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Robinhood Markets, Inc. (HOOD US)\uff1a\u52a0\u5bc6\u8d27\u5e01\u7acb\u6cd5\u8fce\u6765\u80dc\u5229<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a108 \u76ee\u6807\u4ef7\uff1a120 \u6b62\u635f\u4ef7\uff1a102<\/strong><br>  <\/li>\n\n\n\n<li>Robinhood Markets, Inc. \u7ecf\u8425\u4e00\u4e2a\u91d1\u878d\u670d\u52a1\u5e73\u53f0\uff0c\u63d0\u4f9b\u80a1\u7968\u3001\u4ea4\u6613\u6240\u4ea4\u6613\u57fa\u91d1\u3001\u671f\u6743\u548c\u52a0\u5bc6\u8d27\u5e01\u7b49\u7ecf\u7eaa\u548c\u73b0\u91d1\u7ba1\u7406\u5e94\u7528\u3002\u516c\u53f8\u670d\u52a1\u4e8e\u7f8e\u56fd\u7684\u5ba2\u6237\u3002<br>  <\/li>\n\n\n\n<li><strong>\u7f8e\u56fd\u7acb\u6cd5\u63d0\u5347\u52a0\u5bc6\u8d27\u5e01\u524d\u666f\u3002<\/strong>Robinhood \u5728\u6570\u5b57\u8d44\u4ea7\u65b9\u9762\u7684\u79ef\u6781\u6269\u5c55\u5c06\u53d7\u76ca\u4e8e\u7f8e\u56fd\u4f17\u8bae\u9662\u63a8\u8fdb\u7684\u5177\u6709\u91cc\u7a0b\u7891\u610f\u4e49\u7684\u52a0\u5bc6\u8d27\u5e01\u7acb\u6cd5\uff0c\u8fd9\u5c06\u4e3a\u6570\u5b57\u8d44\u4ea7\u521b\u5efa\u9996\u4e2a\u8054\u90a6\u6846\u67b6\u3002\u8fd9\u4e9b\u6cd5\u6848\u5305\u62ecGENIUS\u6cd5\u6848\u3001\u6e05\u6670\u6cd5\u6848\u300121\u4e16\u7eaa\u91d1\u878d\u521b\u65b0\u4e0e\u6280\u672f\u6cd5\u6848\uff08FIT\uff09\u548c\u53cdCBDC\u76d1\u63a7\u6cd5\u6848\u3002\u8fd9\u4e9b\u7acb\u6cd5\u8fdb\u5c55\u4e0eRobinhood\u6700\u8fd1\u7684\u63a8\u51fa\u76f8\u4e00\u81f4\uff0c\u5e76\u53ef\u80fd\u52a0\u901f\u6570\u5b57\u8d44\u4ea7\u7684\u4e3b\u6d41\u91c7\u7528\uff0c\u5de9\u56fa\u5176\u5728\u4e0d\u65ad\u6f14\u53d8\u7684\u91d1\u878d\u751f\u6001\u7cfb\u7edf\u4e2d\u4f5c\u4e3a\u96f6\u552e\u53cb\u597d\u578b\u9886\u5bfc\u8005\u7684\u5730\u4f4d\u3002\u5728\u56fd\u4f1a\u548c\u524d\u603b\u7edf\u7279\u6717\u666e\u7684\u652f\u6301\u4e0b\uff0c\u4e00\u9879\u5173\u4e8e\u7a33\u5b9a\u5e01\u7684\u6cd5\u6848\u9884\u8ba1\u5c06\u5f88\u5feb\u901a\u8fc7\uff0c\u4ece\u800c\u589e\u5f3a\u5408\u6cd5\u6027\u548c\u76d1\u7ba1\u6e05\u6670\u5ea6\u3002\u5176\u4ed6\u63d0\u8bae\u7684\u7acb\u6cd5\u5c06\u5b9a\u4e49\u52a0\u5bc6\u8d44\u4ea7\u7684\u5e02\u573a\u7ed3\u6784\uff0c\u5e76\u9650\u5236\u8054\u90a6\u5bf9\u6570\u5b57\u8d27\u5e01\u7684\u63a7\u5236\u3002\u8fd9\u4e9b\u53d1\u5c55\u8868\u660e\u5bf9\u52a0\u5bc6\u884c\u4e1a\u7684\u673a\u6784\u652f\u6301\u4e0d\u65ad\u589e\u957f\uff0c\u4e0eRobinhood\u66f4\u5e7f\u6cdb\u7684\u6218\u7565\u76f8\u4e00\u81f4\uff0c\u540e\u8005\u529b\u6c42\u63d0\u4f9b\u4ee3\u5e01\u5316\u80a1\u7968\u3001\u8d28\u62bc\u670d\u52a1\u548c\u6c38\u4e45\u671f\u8d27\u3002\u968f\u7740\u76d1\u7ba1\u4e0d\u786e\u5b9a\u6027\u5f00\u59cb\u6d88\u9000\uff0cRobinhood\u5904\u4e8e\u6210\u4e3a\u4f20\u7edf\u91d1\u878d\u548c\u65b0\u5174\u6570\u5b57\u8d44\u4ea7\u751f\u6001\u7cfb\u7edf\u9886\u5148\u5e73\u53f0\u7684\u826f\u597d\u4f4d\u7f6e\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e3a\u96f6\u552e\u6295\u8d44\u8005\u63d0\u4f9b\u4ee3\u5e01\u5316\u548c\u52a0\u5bc6\u6269\u5c55\u3002<\/strong>Robinhood\u6b63\u5728\u52a0\u901f\u8f6c\u578b\u4e3a\u5168\u7403\u91d1\u878d\u79d1\u6280\u5de8\u5934\uff0c\u5728\u6b27\u76df\u63a8\u51fa\u4ee3\u5e01\u5316\u7684\u7f8e\u56fd\u80a1\u7968\u4ea4\u6613\uff0c\u5141\u8bb8\u7528\u6237\u901a\u8fc7\u514d\u4f63\u91d1\u4ee3\u5e01\u8bbf\u95ee\u8d85\u8fc7200\u53ea\u80a1\u7968\uff0c\u5305\u62ec\u82f1\u4f1f\u8fbe\u548c\u82f9\u679c\u3002\u901a\u8fc7\u4e0eArbitrum\u7684\u5408\u4f5c\u4ee5\u53ca\u8ba1\u5212\u5efa\u7acb\u81ea\u5df1\u7684\u533a\u5757\u94fe\uff0cRobinhood\u5ef6\u957f\u4e86\u4ea4\u6613\u65f6\u95f4\uff0c\u5e76\u4e3a24\/7\u80a1\u7968\u8bbf\u95ee\u505a\u51c6\u5907\uff0c\u53cd\u6620\u51fa\u52a0\u5bc6\u5e02\u573a\u7684\u7075\u6d3b\u6027\u3002\u8be5\u5e73\u53f0\u7684\u5176\u4ed6\u4ea7\u54c1\uff0c\u5982\u6c38\u4e45\u52a0\u5bc6\u671f\u8d27\u548c\u5bf9\u4ee5\u592a\u574a\u548c\u7d22\u62c9\u7eb3\u7684\u4f4e\u95e8\u69db\u8d28\u62bc\uff0c\u6807\u5fd7\u7740\u5176\u5411\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u6218\u7565\u8f6c\u578b\uff0c\u540c\u65f6\u4fdd\u6301\u4ee5\u96f6\u552e\u4e3a\u4e2d\u5fc3\u3002\u6700\u8fd1\u6536\u8d2dBitstamp\u548cWonderFi\u8fdb\u4e00\u6b65\u589e\u5f3a\u4e86\u5176\u5168\u7403\u5f71\u54cd\u529b\u548c\u6570\u5b57\u8d44\u4ea7\u80fd\u529b\u3002\u8fd9\u4e9b\u53d1\u5c55\u5e2e\u52a9Robinhood\u5728\u4f20\u7edf\u91d1\u878d\u4e0e\u52a0\u5bc6\u4e4b\u95f4\u7684\u878d\u5408\u524d\u6cbf\u5360\u636e\u9886\u5148\u5730\u4f4d\uff0c\u4e3a\u4e0b\u4e00\u4ee3\u6295\u8d44\u8005\u63d0\u4f9b\u65e0\u7f1d\u7684\u5168\u7403\u8d44\u4ea7\u8bbf\u95ee\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u6ce2\u52a8\u63d0\u5347\u4ea4\u6613\u91cf\u3002<\/strong>Robinhood\u62a5\u544a\u7b2c\u4e00\u5b63\u5ea6\u80a1\u7968\u4ea4\u6613\u91cf\u540c\u6bd4\u6fc0\u589e84%\uff0c\u800c\u671f\u6743\u4ea4\u6613\u91cf\u521b\u4e0b\u65b0\u9ad8\uff0c\u8fdb\u4e00\u6b65\u63a8\u52a8\u4e1a\u7ee9\u589e\u957f\u3002\u6536\u76ca\u8d44\u4ea7\u548c\u8bc1\u5238\u501f\u8d37\u6d3b\u52a8\u4e5f\u5728\u6269\u5927\uff0c\u62b5\u6d88\u4e86\u77ed\u671f\u5229\u7387\u7684\u5f71\u54cd\uff0c\u540c\u65f6Robinhood\u9ec4\u91d1\u8ba2\u9605\u8fbe\u5230\u65b0\u9ad8\u3002\u5728\u5f53\u524d\u5e02\u573a\u6ce2\u52a8\u4e2d\uff0c\u96f6\u552e\u6295\u8d44\u8005\u663e\u8457\u56de\u5f52\uff0c\u63a8\u52a8\u4ea4\u6613\u91cf\u589e\u52a0\uff0c\u8fdb\u4e00\u6b65\u63d0\u5347\u6536\u5165\u3002\u77ed\u671f\u5185\uff0c\u6301\u7eed\u7684\u5e02\u573a\u52a8\u8361\u9884\u8ba1\u5c06\u7ee7\u7eed\u5438\u5f15\u96f6\u552e\u53c2\u4e0e\uff0c\u8fdb\u4e00\u6b65\u63a8\u52a8Robinhood\u7684\u6536\u5165\u589e\u957f\uff0c\u5e76\u589e\u5f3a\u5176\u77ed\u671f\u4e0a\u884c\u6f5c\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>25\u8d22\u5e74\u7b2c\u4e00\u5b63\u4e1a\u7ee9\u3002<\/strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u6536\u5165\u540c\u6bd4\u589e\u957f50%\uff0c\u8fbe\u52309.27\u4ebf\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f984\u4e07\u7f8e\u5143\u3002GAAP\u6bcf\u80a1\u6536\u76ca\u4e3a0.37\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.04\u7f8e\u5143\u3002\u57fa\u4e8e\u4ea4\u6613\u7684\u6536\u5165\u540c\u6bd4\u589e\u957f77%\uff0c\u8fbe\u52305.83\u4ebf\u7f8e\u5143\uff0c\u4e3b\u8981\u6765\u81ea\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\uff082.52\u4ebf\u7f8e\u5143\uff09\u3002\u6bcf\u7528\u6237\u5e73\u5747\u6536\u5165\u540c\u6bd4\u589e\u957f39%\uff0c\u8fbe\u5230145\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\/07\/a-blue-and-white-rectangular-box-with-numbers-ai-1-5.png\" alt=\"A blue and white rectangular box with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-72374\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-box-with-numbers-ai-1-5.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-box-with-numbers-ai-1-5-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1039\" height=\"596\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-stock-market-ai-generated-content-may-2.jpeg\" alt=\"A graph of stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-72375\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-stock-market-ai-generated-content-may-2.jpeg 1039w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-stock-market-ai-generated-content-may-2-300x172.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-stock-market-ai-generated-content-may-2-1024x587.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-stock-market-ai-generated-content-may-2-768x441.jpeg 768w\" sizes=\"(max-width: 1039px) 100vw, 1039px\" \/><\/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-72318-_Hlt181111973\"><\/a><a id=\"post-72318-_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-72318-_va9jaog5jnw3\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-27.png\" class=\"wp-image-72376\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-27.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-27-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<figure class=\"wp-block-image\" id=\"td\"><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-28.png\" alt=\"\" class=\"wp-image-72377\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-28.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72318-28-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>No changes to trading dashboard.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"579\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-screen-ai-generated-co-14.png\" alt=\"A screenshot of a computer screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-72378\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-screen-ai-generated-co-14.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-screen-ai-generated-co-14-300x184.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-screen-ai-generated-co-14-768x472.png 768w\" sizes=\"(max-width: 943px) 100vw, 943px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-71807-_tiry8p5xvcqk\"><\/a><\/h3>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-ed4e1152\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-075e5b76\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-0ad8dd24\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-dc1bd65c\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap \">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-2f4e392f wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"https:\/\/www.kgieworld.sg\/securities\/contact-us\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">\u8054\u7cfb\u6211\u4eec\u4e86\u89e3\u66f4\u591a\u4fe1\u606f<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-4467fd1f\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-fdd2c8c4\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-56747-_fginbsn8cd1z\"><\/a><\/h3>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-27ad8851\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-image uagb-block-62b24b08 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/www.whatsapp.com\/channel\/0029VayhkxMChq6JN6qO8x0B\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png\" alt=\"\" class=\"uag-image-69995\" width=\"760\" height=\"208\" title=\"1\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n\n\n\n<div class=\"wp-block-uagb-image uagb-block-82e9f322 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/t.me\/kgisg\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png\" alt=\"\" class=\"uag-image-69996\" width=\"760\" height=\"208\" title=\"2\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><a id=\"post-56591-_tiry8p5xvcqk\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\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\u5728\u5404\u5e02\u573a\u6269\u5f20 (Source: Bloomberg) Seatrium Ltd. (STM SP)\uff1a\u5b9e\u529b\u96c4\u539a\uff0c\u6210\u5c31\u8f89\u714c (Source: Bloomberg) \u4e1c\u65b9\u7535\u6c14 (1072 HK)\uff1a\u611f\u53d7\u70ed\u5ea6 (Source: Bloomberg) \u4eac\u4e1c\u5065\u5eb7 (6618 HK)\uff1a\u5065\u5eb7\u5c31\u662f\u8d22\u5bcc (Source: Bloomberg) Circle Internet Group, Inc. (CRCL US)\uff1a\u52a0\u5bc6\u8d27\u5e01\u7684\u5708\u5b50 (Source: Bloomberg) Robinhood Markets, Inc. (HOOD US)\uff1a\u52a0\u5bc6\u8d27\u5e01\u7acb\u6cd5\u8fce\u6765\u80dc\u5229 (Source: Bloomberg) ^ Back To Top [&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-72318","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\u5728\u5404\u5e02\u573a\u6269\u5f20 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2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\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\u52301.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u56e0\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u8d21\u732e\u589e\u52a0\u3002\u7a0e\u540e\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u4e00\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece\u4e0a\u4e00\u8d22\u5e74\u76840.037\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\u5f55\u4e8691\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u4e2a\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u4e8617\u5bb6\u65b0\u9152\u5e97\u548c\u5ea6\u5047\u6751\u7684\u5f00\u4e1a\uff0c\u5176\u4e2d6\u5bb6\u4f4d\u4e8e\u65e5\u672c\u548c\u97e9\u56fd\uff0c8\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\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) Seatrium Ltd. (STM SP)\uff1a\u5b9e\u529b\u96c4\u539a\uff0c\u6210\u5c31\u8f89\u714c \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.24\uff0c\u76ee\u6807\u4ef7\uff1a2.44\uff0c\u6b62\u635f\u4ef7\uff1a2.14 Seatrium Ltd \u4e3a\u6d77\u5de5\u3001\u6d77\u4e8b\u548c\u80fd\u6e90\u884c\u4e1a\u63d0\u4f9b\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u94bb\u4e95\u5e73\u53f0\u548c\u6d6e\u5f0f\u751f\u4ea7\u88c5\u7f6e\u3001\u7ef4\u4fee\u548c\u5347\u7ea7\u670d\u52a1\u3001\u6d77\u5de5\u5e73\u53f0\u4ee5\u53ca\u4e13\u4e1a\u9020\u8239\u670d\u52a1\u3002Seatrium \u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002 \u5f3a\u52b2\u7684\u8ba2\u5355\u50a8\u5907\u3002 \u622a\u81f33\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\uff08Seatrium\uff09\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u8fbe\u5230213\u4ebf\u7f8e\u5143\uff0c\u6db5\u76d626\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u81f32031\u5e74\u3002\u5176\u4e2d\uff0c71\u4ebf\u7f8e\u5143\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u3002\u5c3d\u7ba1\u9762\u4e34\u5168\u7403\u4e0d\u786e\u5b9a\u6027\uff0c\u80dc\u79d1\u6d77\u4e8b\u4ecd\u4fdd\u6301\u7a33\u5b9a\u7684\u6cb9\u6c14\u9879\u76ee\u50a8\u5907\uff0c\u5176\u4e2d\u4e3a\u5357\u7f8e\u6d32\u548c\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\uff08Petrobras\uff09\u5efa\u9020\u7684\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\uff08FPSO\uff09\u9879\u76ee\u53d6\u5f97\u663e\u8457\u8fdb\u5c55\u3002\u516c\u53f8\u8fd8\u5728\u62d3\u5c55\u6d77\u4e0a\u53ef\u518d\u751f\u80fd\u6e90\u9886\u57df\uff0c\u5728\u6b27\u6d32\u3001\u4e9a\u6d32\u548c\u4e2d\u56fd\u53f0\u6e7e\u5747\u6709\u9879\u76ee\u3002\u5c3d\u7ba1\u7f8e\u56fd\u9762\u4e34\u6311\u6218\uff0c\u6b27\u6d32\u548c\u4e9a\u592a\u5730\u533a\u7684\u6d77\u4e0a\u98ce\u7535\u5e02\u573a\u4f9d\u7136\u5f3a\u52b2\u3002\u5176\u9996\u5e2d\u6267\u884c\u5b98\u6307\u51fa\u4f9b\u5e94\u94fe\u95ee\u9898\u5fae\u4e4e\u5176\u5fae\uff0c\u5e76\u8868\u793a\u516c\u53f8\u5728\u80fd\u6e90\u8f6c\u578b\u65b9\u9762\u7684\u591a\u5143\u5316\u5e03\u5c40\u4f7f\u5176\u5904\u4e8e\u6709\u5229\u5730\u4f4d\u3002\u80dc\u79d1\u6d77\u4e8b\u8fd8\u62a5\u544a\u79f0\uff0c\u7b2c\u4e00\u5b63\u5ea6\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\uff0c\u5305\u62ec\u90ae\u8f6e\u6539\u88c5\u548c\u78b3\u6355\u83b7\u5347\u7ea7\u3002\u516c\u53f8\u4e8e2024\u5e74\u6062\u590d\u76c8\u5229\uff0c\u5b9e\u73b0\u51c0\u5229\u6da61.57\u4ebf\u7f8e\u5143\u3002 \u5411\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u4ea4\u4ed8\u6574\u88c5\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u3002 \u80dc\u79d1\u6d77\u4e8b\u5728\u5411\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u4ea4\u4ed8P-78\u53f7\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u65b9\u9762\u53d6\u5f97\u4e86\u91cd\u8981\u7684\u8fd0\u8425\u91cc\u7a0b\u7891\uff0c\u8fd9\u6807\u5fd7\u7740\u4e3a\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u63d0\u4f9b\u7684\u4e00\u7cfb\u5217\u6574\u88c5\u9879\u76ee\u4e2d\u7684\u9996\u4e2a\u4ea4\u4ed8\u3002\u8be5\u8239\u90e8\u7f72\u5728\u4e16\u754c\u6700\u5927\u7684\u6df1\u6c34\u6cb9\u7530B\u00fazios\u6cb9\u7530\uff0c\u62e5\u6709\u6bcf\u592918\u4e07\u6876\u7684\u751f\u4ea7\u80fd\u529b\uff0c\u4f4d\u5c45\u5168\u7403\u6700\u5927\u7684\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u4e4b\u5217\u3002\u8be5\u9879\u76ee\u5c55\u793a\u4e86\u80dc\u79d1\u6d77\u4e8b\u7684\u5168\u7403\u4ea4\u4ed8\u80fd\u529b\uff0c\u5176\u4e0a\u90e8\u6a21\u5757\u5728\u65b0\u52a0\u5761\u3001\u4e2d\u56fd\u548c\u5df4\u897f\u8fdb\u884c\u5efa\u9020\uff0c\u5e76\u4f53\u73b0\u4e86\u5176\u4f5c\u4e3a\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\u8131\u78b3\u8fdb\u7a0b\u4e2d\u5173\u952e\u5408\u4f5c\u4f19\u4f34\u7684\u89d2\u8272\u3002P-78\u53f7\u662f\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f815\u5e74\u591a\u4ee5\u6765\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u5efa\u8bbe\u9057\u4ea7\u7684\u7ed3\u6676\uff0c\u5176\u6210\u529f\u4ea4\u4ed8\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u80dc\u79d1\u6d77\u4e8b\u5728\u6d77\u4e0a\u751f\u4ea7\u9886\u57df\u7684\u6280\u672f\u9886\u5148\u5730\u4f4d\uff0c\u540c\u65f6\u652f\u6301\u4e86\u5df4\u897f\u7684\u80fd\u6e90\u57fa\u7840\u8bbe\u65bd\u5efa\u8bbe\u548c\u5c31\u4e1a\u521b\u9020\u3002 \u6df1\u5316\u5bf9ESG\u7684\u627f\u8bfa\u3002 \u80dc\u79d1\u6d77\u4e8b\u83b7\u5f97\u4e86\u5927\u534e\u94f6\u884c\uff08United Overseas Bank\uff094\u4ebf\u7f8e\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u5faa\u73af\u4fe1\u8d37\u989d\u5ea6\u3002\u8be5\u878d\u8d44\u7b26\u5408\u80dc\u79d1\u6d77\u4e8b\u7684\u53ef\u6301\u7eed\u91d1\u878d\u6846\u67b6\uff0c\u5e76\u5f3a\u5316\u4e86\u5176\u5bf9\u6c14\u5019\u53cb\u597d\u578b\u8d44\u672c\u6218\u7565\u7684\u627f\u8bfa\u3002\u81ea2023\u5e74\u4ee5\u6765\uff0c\u96c6\u56e2\u5df2\u83b7\u5f97\u8d85\u8fc730\u4ebf\u65b0\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u548c\u7eff\u8272\u878d\u8d44\uff0c\u6301\u7eed\u5c06\u73af\u5883\u8d23\u4efb\u878d\u5165\u5176\u8fd0\u8425\u4e2d\u3002\u8be5\u878d\u8d44\u652f\u6301\u80dc\u79d1\u6d77\u4e8b2030\u5e74\u53ef\u6301\u7eed\u53d1\u5c55\u613f\u666f\uff0c\u91cd\u70b9\u662f\u4e3a\u5ba2\u6237\u63d0\u4f9b\u8282\u80fd\u7684\u6d77\u5de5\u548c\u6d77\u4e8b\u57fa\u7840\u8bbe\u65bd\u3002\u8fd9\u4f7f\u5f97\u80dc\u79d1\u6d77\u4e8b\u5728\u5168\u7403\u8131\u78b3\u548c\u6d77\u4e0a\u80fd\u6e90\u884c\u4e1a\u8d1f\u8d23\u4efb\u589e\u957f\u7684\u63a8\u52a8\u4e0b\uff0c\u6210\u4e3a\u9886\u5148\u7684\u53ef\u6301\u7eed\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u4e3a213\u4ebf\u65b0\u5143\uff0c\u5305\u62ec26\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u5ef6\u957f\u81f32031\u5e74\u3002\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\/\u6e05\u6d01\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u7684\u9879\u76ee\u5360\u51c0\u8ba2\u5355\u50a8\u5907\u768471\u4ebf\u65b0\u5143\u3002\u672c\u5b63\u5ea6\uff0c\u516c\u53f8\u4ea4\u4ed8\u4e86\u4e00\u4e2a\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u6574\u5408\u9879\u76ee\uff0c\u5e76\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4eac\u4e1c\u5065\u5eb7 (6618 HK)\uff1a\u5065\u5eb7\u5c31\u662f\u8d22\u5bcc \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a46.0\uff0c\u76ee\u6807\u4ef7\uff1a52.0\uff0c\u6b62\u635f\u4ef7\uff1a43.0 \u4eac\u4e1c\u5065\u5eb7\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u201c\u4e92\u806f\u7db2+\u91ab\u7642\u5065\u5eb7\u201d\u751f\u6001\u7cfb\u7edf\u4e1a\u52a1\u7684\u4e2d\u56fd\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u70ba\u5ba2\u6236\u63d0\u4f9b\u91ab\u85e5\u548c\u5065\u5eb7\u7522\u54c1\u3001\u4e92\u806f\u7db2\u91ab\u7642\u3001\u5065\u5eb7\u7ba1\u7406\u53ca\u667a\u80fd\u91ab\u7642\u4fdd\u5065\u89e3\u6c7a\u65b9\u6848\u53ca\u70ba\u696d\u52d9\u5408\u4f5c\u5925\u4f34\u63d0\u4f9b\u5e02\u5834\u71df\u92b7\u670d\u52d9\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002\" \/>\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-21-jul-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=\"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e747\u670821\u65e5: \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\u5728\u5404\u5e02\u573a\u6269\u5f20 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.66\uff0c\u76ee\u6807\u4ef7\uff1a0.72\uff0c\u6b62\u635f\u4ef7\uff1a0.63 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2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\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\u52301.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u56e0\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u8d21\u732e\u589e\u52a0\u3002\u7a0e\u540e\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u4e00\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece\u4e0a\u4e00\u8d22\u5e74\u76840.037\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\u5f55\u4e8691\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u4e2a\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u4e8617\u5bb6\u65b0\u9152\u5e97\u548c\u5ea6\u5047\u6751\u7684\u5f00\u4e1a\uff0c\u5176\u4e2d6\u5bb6\u4f4d\u4e8e\u65e5\u672c\u548c\u97e9\u56fd\uff0c8\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\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) Seatrium Ltd. 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\u622a\u81f33\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\uff08Seatrium\uff09\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u8fbe\u5230213\u4ebf\u7f8e\u5143\uff0c\u6db5\u76d626\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u81f32031\u5e74\u3002\u5176\u4e2d\uff0c71\u4ebf\u7f8e\u5143\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u3002\u5c3d\u7ba1\u9762\u4e34\u5168\u7403\u4e0d\u786e\u5b9a\u6027\uff0c\u80dc\u79d1\u6d77\u4e8b\u4ecd\u4fdd\u6301\u7a33\u5b9a\u7684\u6cb9\u6c14\u9879\u76ee\u50a8\u5907\uff0c\u5176\u4e2d\u4e3a\u5357\u7f8e\u6d32\u548c\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\uff08Petrobras\uff09\u5efa\u9020\u7684\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\uff08FPSO\uff09\u9879\u76ee\u53d6\u5f97\u663e\u8457\u8fdb\u5c55\u3002\u516c\u53f8\u8fd8\u5728\u62d3\u5c55\u6d77\u4e0a\u53ef\u518d\u751f\u80fd\u6e90\u9886\u57df\uff0c\u5728\u6b27\u6d32\u3001\u4e9a\u6d32\u548c\u4e2d\u56fd\u53f0\u6e7e\u5747\u6709\u9879\u76ee\u3002\u5c3d\u7ba1\u7f8e\u56fd\u9762\u4e34\u6311\u6218\uff0c\u6b27\u6d32\u548c\u4e9a\u592a\u5730\u533a\u7684\u6d77\u4e0a\u98ce\u7535\u5e02\u573a\u4f9d\u7136\u5f3a\u52b2\u3002\u5176\u9996\u5e2d\u6267\u884c\u5b98\u6307\u51fa\u4f9b\u5e94\u94fe\u95ee\u9898\u5fae\u4e4e\u5176\u5fae\uff0c\u5e76\u8868\u793a\u516c\u53f8\u5728\u80fd\u6e90\u8f6c\u578b\u65b9\u9762\u7684\u591a\u5143\u5316\u5e03\u5c40\u4f7f\u5176\u5904\u4e8e\u6709\u5229\u5730\u4f4d\u3002\u80dc\u79d1\u6d77\u4e8b\u8fd8\u62a5\u544a\u79f0\uff0c\u7b2c\u4e00\u5b63\u5ea6\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\uff0c\u5305\u62ec\u90ae\u8f6e\u6539\u88c5\u548c\u78b3\u6355\u83b7\u5347\u7ea7\u3002\u516c\u53f8\u4e8e2024\u5e74\u6062\u590d\u76c8\u5229\uff0c\u5b9e\u73b0\u51c0\u5229\u6da61.57\u4ebf\u7f8e\u5143\u3002 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\u6df1\u5316\u5bf9ESG\u7684\u627f\u8bfa\u3002 \u80dc\u79d1\u6d77\u4e8b\u83b7\u5f97\u4e86\u5927\u534e\u94f6\u884c\uff08United Overseas Bank\uff094\u4ebf\u7f8e\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u5faa\u73af\u4fe1\u8d37\u989d\u5ea6\u3002\u8be5\u878d\u8d44\u7b26\u5408\u80dc\u79d1\u6d77\u4e8b\u7684\u53ef\u6301\u7eed\u91d1\u878d\u6846\u67b6\uff0c\u5e76\u5f3a\u5316\u4e86\u5176\u5bf9\u6c14\u5019\u53cb\u597d\u578b\u8d44\u672c\u6218\u7565\u7684\u627f\u8bfa\u3002\u81ea2023\u5e74\u4ee5\u6765\uff0c\u96c6\u56e2\u5df2\u83b7\u5f97\u8d85\u8fc730\u4ebf\u65b0\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u548c\u7eff\u8272\u878d\u8d44\uff0c\u6301\u7eed\u5c06\u73af\u5883\u8d23\u4efb\u878d\u5165\u5176\u8fd0\u8425\u4e2d\u3002\u8be5\u878d\u8d44\u652f\u6301\u80dc\u79d1\u6d77\u4e8b2030\u5e74\u53ef\u6301\u7eed\u53d1\u5c55\u613f\u666f\uff0c\u91cd\u70b9\u662f\u4e3a\u5ba2\u6237\u63d0\u4f9b\u8282\u80fd\u7684\u6d77\u5de5\u548c\u6d77\u4e8b\u57fa\u7840\u8bbe\u65bd\u3002\u8fd9\u4f7f\u5f97\u80dc\u79d1\u6d77\u4e8b\u5728\u5168\u7403\u8131\u78b3\u548c\u6d77\u4e0a\u80fd\u6e90\u884c\u4e1a\u8d1f\u8d23\u4efb\u589e\u957f\u7684\u63a8\u52a8\u4e0b\uff0c\u6210\u4e3a\u9886\u5148\u7684\u53ef\u6301\u7eed\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u4e3a213\u4ebf\u65b0\u5143\uff0c\u5305\u62ec26\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u5ef6\u957f\u81f32031\u5e74\u3002\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\/\u6e05\u6d01\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u7684\u9879\u76ee\u5360\u51c0\u8ba2\u5355\u50a8\u5907\u768471\u4ebf\u65b0\u5143\u3002\u672c\u5b63\u5ea6\uff0c\u516c\u53f8\u4ea4\u4ed8\u4e86\u4e00\u4e2a\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u6574\u5408\u9879\u76ee\uff0c\u5e76\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4eac\u4e1c\u5065\u5eb7 (6618 HK)\uff1a\u5065\u5eb7\u5c31\u662f\u8d22\u5bcc \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a46.0\uff0c\u76ee\u6807\u4ef7\uff1a52.0\uff0c\u6b62\u635f\u4ef7\uff1a43.0 \u4eac\u4e1c\u5065\u5eb7\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u201c\u4e92\u806f\u7db2+\u91ab\u7642\u5065\u5eb7\u201d\u751f\u6001\u7cfb\u7edf\u4e1a\u52a1\u7684\u4e2d\u56fd\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u70ba\u5ba2\u6236\u63d0\u4f9b\u91ab\u85e5\u548c\u5065\u5eb7\u7522\u54c1\u3001\u4e92\u806f\u7db2\u91ab\u7642\u3001\u5065\u5eb7\u7ba1\u7406\u53ca\u667a\u80fd\u91ab\u7642\u4fdd\u5065\u89e3\u6c7a\u65b9\u6848\u53ca\u70ba\u696d\u52d9\u5408\u4f5c\u5925\u4f34\u63d0\u4f9b\u5e02\u5834\u71df\u92b7\u670d\u52d9\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-21-jul-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=\"2025-07-20T23:32:22+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-07-20T23:32:22+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e747\u670821\u65e5: \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\u5728\u5404\u5e02\u573a\u6269\u5f20 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.66\uff0c\u76ee\u6807\u4ef7\uff1a0.72\uff0c\u6b62\u635f\u4ef7\uff1a0.63 \u60a6\u6995\u63a7\u80a1\u6709\u9650\u516c\u53f8\u4f5c\u4e3a\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\u8fd0\u4f5c\u3002\u901a\u8fc7\u5176\u5b50\u516c\u53f8\uff0c\u8be5\u516c\u53f8\u62e5\u6709\u5e76\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 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32\uff0c\u65e8\u5728\u5229\u7528\u65e5\u76ca\u589e\u957f\u7684\u4ee5\u517b\u751f\u4e3a\u4e3b\u5bfc\u3001\u8bbe\u8ba1\u4e3a\u91cd\u70b9\u7684\u5962\u4f88\u751f\u6d3b\u9700\u6c42\u3002\u9a6c\u5fb7\u91cc\u65b0\u5efa\u623f\u4ef7\u8fbe\u5230\u6bcf\u5e73\u65b9\u7c7332,171\u7f8e\u5143\uff0c\u800cPadilla\u7684\u5e73\u5747\u4ef7\u683c\u4e3a\u6bcf\u5e73\u65b9\u7c7323,458\u7f8e\u5143\uff0c\u8fd9\u4f7f\u5f97\u8be5\u9879\u76ee\u5728\u6b27\u6d32\u4f9b\u5e94\u7d27\u5f20\u7684\u5e02\u573a\u4e2d\u5177\u6709\u5f3a\u5927\u7684\u6295\u8d44\u5438\u5f15\u529b\u3002\u8be5\u9879\u76ee\u5305\u542b24\u5957\u4f4f\u5b85\uff0c\u7ed3\u5408\u4e86\u4f20\u7edf\u5efa\u7b51\u4e0e\u60a6\u6995\u63a7\u80a1\u7684\u6c34\u7597\u98ce\u683c\u7406\u5ff5\uff0c\u7b26\u5408Savills\u9884\u8ba1\u52302026\u5e74\u54c1\u724c\u4f4f\u5b85\u5c06\u589e\u957f55%\u7684\u5168\u7403\u5174\u8da3\u3002\u968f\u7740\u9ad8\u51c0\u503c\u4e2a\u4f53\u8d8a\u6765\u8d8a\u91cd\u89c6\u517b\u751f\u3001\u751f\u6d3b\u8d28\u91cf\u548c\u54c1\u724c\u4fe1\u4efb\uff0c\u60a6\u6995\u63a7\u80a1\u5728\u97e7\u6027\u5962\u4f88\u623f\u5730\u4ea7\u5e02\u573a\u4e2d\u7684\u6269\u5c55\u524d\u666f\u826f\u597d\u3002 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2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\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\u52301.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u56e0\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u8d21\u732e\u589e\u52a0\u3002\u7a0e\u540e\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u4e00\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece\u4e0a\u4e00\u8d22\u5e74\u76840.037\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\u5f55\u4e8691\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u4e2a\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u4e8617\u5bb6\u65b0\u9152\u5e97\u548c\u5ea6\u5047\u6751\u7684\u5f00\u4e1a\uff0c\u5176\u4e2d6\u5bb6\u4f4d\u4e8e\u65e5\u672c\u548c\u97e9\u56fd\uff0c8\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\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) Seatrium Ltd. (STM SP)\uff1a\u5b9e\u529b\u96c4\u539a\uff0c\u6210\u5c31\u8f89\u714c \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.24\uff0c\u76ee\u6807\u4ef7\uff1a2.44\uff0c\u6b62\u635f\u4ef7\uff1a2.14 Seatrium Ltd \u4e3a\u6d77\u5de5\u3001\u6d77\u4e8b\u548c\u80fd\u6e90\u884c\u4e1a\u63d0\u4f9b\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u94bb\u4e95\u5e73\u53f0\u548c\u6d6e\u5f0f\u751f\u4ea7\u88c5\u7f6e\u3001\u7ef4\u4fee\u548c\u5347\u7ea7\u670d\u52a1\u3001\u6d77\u5de5\u5e73\u53f0\u4ee5\u53ca\u4e13\u4e1a\u9020\u8239\u670d\u52a1\u3002Seatrium \u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002 \u5f3a\u52b2\u7684\u8ba2\u5355\u50a8\u5907\u3002 \u622a\u81f33\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\uff08Seatrium\uff09\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u8fbe\u5230213\u4ebf\u7f8e\u5143\uff0c\u6db5\u76d626\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u81f32031\u5e74\u3002\u5176\u4e2d\uff0c71\u4ebf\u7f8e\u5143\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u3002\u5c3d\u7ba1\u9762\u4e34\u5168\u7403\u4e0d\u786e\u5b9a\u6027\uff0c\u80dc\u79d1\u6d77\u4e8b\u4ecd\u4fdd\u6301\u7a33\u5b9a\u7684\u6cb9\u6c14\u9879\u76ee\u50a8\u5907\uff0c\u5176\u4e2d\u4e3a\u5357\u7f8e\u6d32\u548c\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\uff08Petrobras\uff09\u5efa\u9020\u7684\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\uff08FPSO\uff09\u9879\u76ee\u53d6\u5f97\u663e\u8457\u8fdb\u5c55\u3002\u516c\u53f8\u8fd8\u5728\u62d3\u5c55\u6d77\u4e0a\u53ef\u518d\u751f\u80fd\u6e90\u9886\u57df\uff0c\u5728\u6b27\u6d32\u3001\u4e9a\u6d32\u548c\u4e2d\u56fd\u53f0\u6e7e\u5747\u6709\u9879\u76ee\u3002\u5c3d\u7ba1\u7f8e\u56fd\u9762\u4e34\u6311\u6218\uff0c\u6b27\u6d32\u548c\u4e9a\u592a\u5730\u533a\u7684\u6d77\u4e0a\u98ce\u7535\u5e02\u573a\u4f9d\u7136\u5f3a\u52b2\u3002\u5176\u9996\u5e2d\u6267\u884c\u5b98\u6307\u51fa\u4f9b\u5e94\u94fe\u95ee\u9898\u5fae\u4e4e\u5176\u5fae\uff0c\u5e76\u8868\u793a\u516c\u53f8\u5728\u80fd\u6e90\u8f6c\u578b\u65b9\u9762\u7684\u591a\u5143\u5316\u5e03\u5c40\u4f7f\u5176\u5904\u4e8e\u6709\u5229\u5730\u4f4d\u3002\u80dc\u79d1\u6d77\u4e8b\u8fd8\u62a5\u544a\u79f0\uff0c\u7b2c\u4e00\u5b63\u5ea6\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\uff0c\u5305\u62ec\u90ae\u8f6e\u6539\u88c5\u548c\u78b3\u6355\u83b7\u5347\u7ea7\u3002\u516c\u53f8\u4e8e2024\u5e74\u6062\u590d\u76c8\u5229\uff0c\u5b9e\u73b0\u51c0\u5229\u6da61.57\u4ebf\u7f8e\u5143\u3002 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\u6df1\u5316\u5bf9ESG\u7684\u627f\u8bfa\u3002 \u80dc\u79d1\u6d77\u4e8b\u83b7\u5f97\u4e86\u5927\u534e\u94f6\u884c\uff08United Overseas Bank\uff094\u4ebf\u7f8e\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u5faa\u73af\u4fe1\u8d37\u989d\u5ea6\u3002\u8be5\u878d\u8d44\u7b26\u5408\u80dc\u79d1\u6d77\u4e8b\u7684\u53ef\u6301\u7eed\u91d1\u878d\u6846\u67b6\uff0c\u5e76\u5f3a\u5316\u4e86\u5176\u5bf9\u6c14\u5019\u53cb\u597d\u578b\u8d44\u672c\u6218\u7565\u7684\u627f\u8bfa\u3002\u81ea2023\u5e74\u4ee5\u6765\uff0c\u96c6\u56e2\u5df2\u83b7\u5f97\u8d85\u8fc730\u4ebf\u65b0\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u548c\u7eff\u8272\u878d\u8d44\uff0c\u6301\u7eed\u5c06\u73af\u5883\u8d23\u4efb\u878d\u5165\u5176\u8fd0\u8425\u4e2d\u3002\u8be5\u878d\u8d44\u652f\u6301\u80dc\u79d1\u6d77\u4e8b2030\u5e74\u53ef\u6301\u7eed\u53d1\u5c55\u613f\u666f\uff0c\u91cd\u70b9\u662f\u4e3a\u5ba2\u6237\u63d0\u4f9b\u8282\u80fd\u7684\u6d77\u5de5\u548c\u6d77\u4e8b\u57fa\u7840\u8bbe\u65bd\u3002\u8fd9\u4f7f\u5f97\u80dc\u79d1\u6d77\u4e8b\u5728\u5168\u7403\u8131\u78b3\u548c\u6d77\u4e0a\u80fd\u6e90\u884c\u4e1a\u8d1f\u8d23\u4efb\u589e\u957f\u7684\u63a8\u52a8\u4e0b\uff0c\u6210\u4e3a\u9886\u5148\u7684\u53ef\u6301\u7eed\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u4e3a213\u4ebf\u65b0\u5143\uff0c\u5305\u62ec26\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u5ef6\u957f\u81f32031\u5e74\u3002\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\/\u6e05\u6d01\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u7684\u9879\u76ee\u5360\u51c0\u8ba2\u5355\u50a8\u5907\u768471\u4ebf\u65b0\u5143\u3002\u672c\u5b63\u5ea6\uff0c\u516c\u53f8\u4ea4\u4ed8\u4e86\u4e00\u4e2a\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u6574\u5408\u9879\u76ee\uff0c\u5e76\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4eac\u4e1c\u5065\u5eb7 (6618 HK)\uff1a\u5065\u5eb7\u5c31\u662f\u8d22\u5bcc \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a46.0\uff0c\u76ee\u6807\u4ef7\uff1a52.0\uff0c\u6b62\u635f\u4ef7\uff1a43.0 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\\u5e02\\u573a\\u5171\\u8bc6 (Source: Bloomberg) Seatrium Ltd. 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) Seatrium Ltd. (STM SP)\uff1a\u5b9e\u529b\u96c4\u539a\uff0c\u6210\u5c31\u8f89\u714c \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.24\uff0c\u76ee\u6807\u4ef7\uff1a2.44\uff0c\u6b62\u635f\u4ef7\uff1a2.14 Seatrium Ltd \u4e3a\u6d77\u5de5\u3001\u6d77\u4e8b\u548c\u80fd\u6e90\u884c\u4e1a\u63d0\u4f9b\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u94bb\u4e95\u5e73\u53f0\u548c\u6d6e\u5f0f\u751f\u4ea7\u88c5\u7f6e\u3001\u7ef4\u4fee\u548c\u5347\u7ea7\u670d\u52a1\u3001\u6d77\u5de5\u5e73\u53f0\u4ee5\u53ca\u4e13\u4e1a\u9020\u8239\u670d\u52a1\u3002Seatrium \u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002 \u5f3a\u52b2\u7684\u8ba2\u5355\u50a8\u5907\u3002 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2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u4e3a213\u4ebf\u65b0\u5143\uff0c\u5305\u62ec26\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u5ef6\u957f\u81f32031\u5e74\u3002\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\/\u6e05\u6d01\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u7684\u9879\u76ee\u5360\u51c0\u8ba2\u5355\u50a8\u5907\u768471\u4ebf\u65b0\u5143\u3002\u672c\u5b63\u5ea6\uff0c\u516c\u53f8\u4ea4\u4ed8\u4e86\u4e00\u4e2a\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u6574\u5408\u9879\u76ee\uff0c\u5e76\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4eac\u4e1c\u5065\u5eb7 (6618 HK)\uff1a\u5065\u5eb7\u5c31\u662f\u8d22\u5bcc \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a46.0\uff0c\u76ee\u6807\u4ef7\uff1a52.0\uff0c\u6b62\u635f\u4ef7\uff1a43.0 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2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\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\u52301.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u56e0\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u8d21\u732e\u589e\u52a0\u3002\u7a0e\u540e\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u4e00\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece\u4e0a\u4e00\u8d22\u5e74\u76840.037\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\u5f55\u4e8691\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u4e2a\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u4e8617\u5bb6\u65b0\u9152\u5e97\u548c\u5ea6\u5047\u6751\u7684\u5f00\u4e1a\uff0c\u5176\u4e2d6\u5bb6\u4f4d\u4e8e\u65e5\u672c\u548c\u97e9\u56fd\uff0c8\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\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) Seatrium Ltd. 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2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\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\u52301.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u56e0\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u8d21\u732e\u589e\u52a0\u3002\u7a0e\u540e\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u4e00\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece\u4e0a\u4e00\u8d22\u5e74\u76840.037\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\u5f55\u4e8691\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u4e2a\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u4e8617\u5bb6\u65b0\u9152\u5e97\u548c\u5ea6\u5047\u6751\u7684\u5f00\u4e1a\uff0c\u5176\u4e2d6\u5bb6\u4f4d\u4e8e\u65e5\u672c\u548c\u97e9\u56fd\uff0c8\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\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) Seatrium Ltd. (STM SP)\uff1a\u5b9e\u529b\u96c4\u539a\uff0c\u6210\u5c31\u8f89\u714c \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.24\uff0c\u76ee\u6807\u4ef7\uff1a2.44\uff0c\u6b62\u635f\u4ef7\uff1a2.14 Seatrium Ltd \u4e3a\u6d77\u5de5\u3001\u6d77\u4e8b\u548c\u80fd\u6e90\u884c\u4e1a\u63d0\u4f9b\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u3002\u8be5\u516c\u53f8\u63d0\u4f9b\u94bb\u4e95\u5e73\u53f0\u548c\u6d6e\u5f0f\u751f\u4ea7\u88c5\u7f6e\u3001\u7ef4\u4fee\u548c\u5347\u7ea7\u670d\u52a1\u3001\u6d77\u5de5\u5e73\u53f0\u4ee5\u53ca\u4e13\u4e1a\u9020\u8239\u670d\u52a1\u3002Seatrium \u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002 \u5f3a\u52b2\u7684\u8ba2\u5355\u50a8\u5907\u3002 \u622a\u81f33\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\uff08Seatrium\uff09\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u8fbe\u5230213\u4ebf\u7f8e\u5143\uff0c\u6db5\u76d626\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u81f32031\u5e74\u3002\u5176\u4e2d\uff0c71\u4ebf\u7f8e\u5143\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u3002\u5c3d\u7ba1\u9762\u4e34\u5168\u7403\u4e0d\u786e\u5b9a\u6027\uff0c\u80dc\u79d1\u6d77\u4e8b\u4ecd\u4fdd\u6301\u7a33\u5b9a\u7684\u6cb9\u6c14\u9879\u76ee\u50a8\u5907\uff0c\u5176\u4e2d\u4e3a\u5357\u7f8e\u6d32\u548c\u5df4\u897f\u56fd\u5bb6\u77f3\u6cb9\u516c\u53f8\uff08Petrobras\uff09\u5efa\u9020\u7684\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\uff08FPSO\uff09\u9879\u76ee\u53d6\u5f97\u663e\u8457\u8fdb\u5c55\u3002\u516c\u53f8\u8fd8\u5728\u62d3\u5c55\u6d77\u4e0a\u53ef\u518d\u751f\u80fd\u6e90\u9886\u57df\uff0c\u5728\u6b27\u6d32\u3001\u4e9a\u6d32\u548c\u4e2d\u56fd\u53f0\u6e7e\u5747\u6709\u9879\u76ee\u3002\u5c3d\u7ba1\u7f8e\u56fd\u9762\u4e34\u6311\u6218\uff0c\u6b27\u6d32\u548c\u4e9a\u592a\u5730\u533a\u7684\u6d77\u4e0a\u98ce\u7535\u5e02\u573a\u4f9d\u7136\u5f3a\u52b2\u3002\u5176\u9996\u5e2d\u6267\u884c\u5b98\u6307\u51fa\u4f9b\u5e94\u94fe\u95ee\u9898\u5fae\u4e4e\u5176\u5fae\uff0c\u5e76\u8868\u793a\u516c\u53f8\u5728\u80fd\u6e90\u8f6c\u578b\u65b9\u9762\u7684\u591a\u5143\u5316\u5e03\u5c40\u4f7f\u5176\u5904\u4e8e\u6709\u5229\u5730\u4f4d\u3002\u80dc\u79d1\u6d77\u4e8b\u8fd8\u62a5\u544a\u79f0\uff0c\u7b2c\u4e00\u5b63\u5ea6\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\uff0c\u5305\u62ec\u90ae\u8f6e\u6539\u88c5\u548c\u78b3\u6355\u83b7\u5347\u7ea7\u3002\u516c\u53f8\u4e8e2024\u5e74\u6062\u590d\u76c8\u5229\uff0c\u5b9e\u73b0\u51c0\u5229\u6da61.57\u4ebf\u7f8e\u5143\u3002 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\u6df1\u5316\u5bf9ESG\u7684\u627f\u8bfa\u3002 \u80dc\u79d1\u6d77\u4e8b\u83b7\u5f97\u4e86\u5927\u534e\u94f6\u884c\uff08United Overseas Bank\uff094\u4ebf\u7f8e\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u5faa\u73af\u4fe1\u8d37\u989d\u5ea6\u3002\u8be5\u878d\u8d44\u7b26\u5408\u80dc\u79d1\u6d77\u4e8b\u7684\u53ef\u6301\u7eed\u91d1\u878d\u6846\u67b6\uff0c\u5e76\u5f3a\u5316\u4e86\u5176\u5bf9\u6c14\u5019\u53cb\u597d\u578b\u8d44\u672c\u6218\u7565\u7684\u627f\u8bfa\u3002\u81ea2023\u5e74\u4ee5\u6765\uff0c\u96c6\u56e2\u5df2\u83b7\u5f97\u8d85\u8fc730\u4ebf\u65b0\u5143\u7684\u53ef\u6301\u7eed\u53d1\u5c55\u5173\u8054\u548c\u7eff\u8272\u878d\u8d44\uff0c\u6301\u7eed\u5c06\u73af\u5883\u8d23\u4efb\u878d\u5165\u5176\u8fd0\u8425\u4e2d\u3002\u8be5\u878d\u8d44\u652f\u6301\u80dc\u79d1\u6d77\u4e8b2030\u5e74\u53ef\u6301\u7eed\u53d1\u5c55\u613f\u666f\uff0c\u91cd\u70b9\u662f\u4e3a\u5ba2\u6237\u63d0\u4f9b\u8282\u80fd\u7684\u6d77\u5de5\u548c\u6d77\u4e8b\u57fa\u7840\u8bbe\u65bd\u3002\u8fd9\u4f7f\u5f97\u80dc\u79d1\u6d77\u4e8b\u5728\u5168\u7403\u8131\u78b3\u548c\u6d77\u4e0a\u80fd\u6e90\u884c\u4e1a\u8d1f\u8d23\u4efb\u589e\u957f\u7684\u63a8\u52a8\u4e0b\uff0c\u6210\u4e3a\u9886\u5148\u7684\u53ef\u6301\u7eed\u5de5\u7a0b\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u3002 2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002 \u622a\u81f32025\u5e743\u670831\u65e5\uff0c\u80dc\u79d1\u6d77\u4e8b\u7684\u51c0\u8ba2\u5355\u50a8\u5907\u4e3a213\u4ebf\u65b0\u5143\uff0c\u5305\u62ec26\u4e2a\u9879\u76ee\uff0c\u4ea4\u4ed8\u671f\u5ef6\u957f\u81f32031\u5e74\u3002\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7eff\u8272\/\u6e05\u6d01\u89e3\u51b3\u65b9\u6848\u76f8\u5173\u7684\u9879\u76ee\u5360\u51c0\u8ba2\u5355\u50a8\u5907\u768471\u4ebf\u65b0\u5143\u3002\u672c\u5b63\u5ea6\uff0c\u516c\u53f8\u4ea4\u4ed8\u4e86\u4e00\u4e2a\u6d6e\u5f0f\u751f\u4ea7\u50a8\u5378\u6cb9\u8239\u6574\u5408\u9879\u76ee\uff0c\u5e76\u5b8c\u6210\u4e8645\u4e2a\u7ef4\u4fee\u548c\u5347\u7ea7\u9879\u76ee\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4eac\u4e1c\u5065\u5eb7 (6618 HK)\uff1a\u5065\u5eb7\u5c31\u662f\u8d22\u5bcc \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a46.0\uff0c\u76ee\u6807\u4ef7\uff1a52.0\uff0c\u6b62\u635f\u4ef7\uff1a43.0 \u4eac\u4e1c\u5065\u5eb7\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u201c\u4e92\u806f\u7db2+\u91ab\u7642\u5065\u5eb7\u201d\u751f\u6001\u7cfb\u7edf\u4e1a\u52a1\u7684\u4e2d\u56fd\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u70ba\u5ba2\u6236\u63d0\u4f9b\u91ab\u85e5\u548c\u5065\u5eb7\u7522\u54c1\u3001\u4e92\u806f\u7db2\u91ab\u7642\u3001\u5065\u5eb7\u7ba1\u7406\u53ca\u667a\u80fd\u91ab\u7642\u4fdd\u5065\u89e3\u6c7a\u65b9\u6848\u53ca\u70ba\u696d\u52d9\u5408\u4f5c\u5925\u4f34\u63d0\u4f9b\u5e02\u5834\u71df\u92b7\u670d\u52d9\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-21-jul-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":"2025-07-20T23:32:22+00:00","article:modified_time":"2025-07-20T23:32:22+00:00","twitter:card":"summary","twitter:title":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e747\u670821\u65e5: \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\u5728\u5404\u5e02\u573a\u6269\u5f20 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.66\uff0c\u76ee\u6807\u4ef7\uff1a0.72\uff0c\u6b62\u635f\u4ef7\uff1a0.63 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32\uff0c\u65e8\u5728\u5229\u7528\u65e5\u76ca\u589e\u957f\u7684\u4ee5\u517b\u751f\u4e3a\u4e3b\u5bfc\u3001\u8bbe\u8ba1\u4e3a\u91cd\u70b9\u7684\u5962\u4f88\u751f\u6d3b\u9700\u6c42\u3002\u9a6c\u5fb7\u91cc\u65b0\u5efa\u623f\u4ef7\u8fbe\u5230\u6bcf\u5e73\u65b9\u7c7332,171\u7f8e\u5143\uff0c\u800cPadilla\u7684\u5e73\u5747\u4ef7\u683c\u4e3a\u6bcf\u5e73\u65b9\u7c7323,458\u7f8e\u5143\uff0c\u8fd9\u4f7f\u5f97\u8be5\u9879\u76ee\u5728\u6b27\u6d32\u4f9b\u5e94\u7d27\u5f20\u7684\u5e02\u573a\u4e2d\u5177\u6709\u5f3a\u5927\u7684\u6295\u8d44\u5438\u5f15\u529b\u3002\u8be5\u9879\u76ee\u5305\u542b24\u5957\u4f4f\u5b85\uff0c\u7ed3\u5408\u4e86\u4f20\u7edf\u5efa\u7b51\u4e0e\u60a6\u6995\u63a7\u80a1\u7684\u6c34\u7597\u98ce\u683c\u7406\u5ff5\uff0c\u7b26\u5408Savills\u9884\u8ba1\u52302026\u5e74\u54c1\u724c\u4f4f\u5b85\u5c06\u589e\u957f55%\u7684\u5168\u7403\u5174\u8da3\u3002\u968f\u7740\u9ad8\u51c0\u503c\u4e2a\u4f53\u8d8a\u6765\u8d8a\u91cd\u89c6\u517b\u751f\u3001\u751f\u6d3b\u8d28\u91cf\u548c\u54c1\u724c\u4fe1\u4efb\uff0c\u60a6\u6995\u63a7\u80a1\u5728\u97e7\u6027\u5962\u4f88\u623f\u5730\u4ea7\u5e02\u573a\u4e2d\u7684\u6269\u5c55\u524d\u666f\u826f\u597d\u3002 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\u533a\u57df\u6d41\u52a8\u6027\u5f3a\u52b2\u3002\u4e9a\u592a\u822a\u7a7a\u534f\u4f1a\uff08AAPA\uff09\u62a5\u544a\u79f0\uff0c2025\u5e744\u6708\u56fd\u9645\u4e58\u5ba2\u540c\u6bd4\u589e\u957f10.5%\uff0c\u8425\u6536\u4e58\u5ba2\u516c\u91cc\uff08RPK\uff09\u4e0a\u534712.6%\uff0c\u663e\u793a\u51fa\u5f3a\u52b2\u7684\u957f\u9014\u65c5\u884c\u9700\u6c42\u3002\u5c3d\u7ba1\u5168\u7403\u8d38\u6613\u9762\u4e34\u6301\u7eed\u7684\u6311\u6218\uff0c\u822a\u7a7a\u8d27\u8fd0\u6d41\u91cf\u4e5f\u589e\u957f\u4e864.9%\u3002\u8fd9\u4e9b\u6307\u6807\u7a81\u663e\u4e86\u6301\u7eed\u7684\u533a\u57df\u8fde\u901a\u6027\u548c\u65c5\u6e38\u9700\u6c42\uff0c\u5c06\u7ee7\u7eed\u652f\u6301\u60a6\u6995\u63a7\u80a1\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\u5173\u952e\u7684\u4e9a\u592a\u5e02\u573a\u4e2d\uff0c\u80fd\u591f\u4ece\u6d41\u52a8\u6027\u548c\u6d88\u8d39\u8005\u5bf9\u4f53\u9a8c\u5bfc\u5411\u7684\u5962\u534e\u4f4f\u5bbf\u7684\u5174\u8da3\u4e2d\u53d7\u76ca\u3002 2024\u8d22\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002\u60a6\u6995\u63a7\u80a1\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u589e\u957f16%\uff0c\u8fbe\u52303.806\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u5f97\u76ca\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\u52301.032\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u5f52\u56e0\u4e8e\u9152\u5e97\u6295\u8d44\u548c\u4f4f\u5b85\u90e8\u95e8\u7684\u8d21\u732e\u589e\u52a0\u3002\u7a0e\u540e\u51c0\u5229\u6da6\uff08PATMI\uff09\u4ece\u4e0a\u4e00\u8d22\u5e74\u76843170\u4e07\u65b0\u52a0\u5761\u5143\u4e0a\u5347\u81f34210\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4ece\u4e0a\u4e00\u8d22\u5e74\u76840.037\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\u5f55\u4e8691\u5bb6\u9152\u5e97\u548c\u5ea6\u5047\u6751\u300173\u5bb6\u6c34\u7597\u4e2d\u5fc3\u300168\u5bb6\u753b\u5eca\u548c22\u4e2a\u54c1\u724c\u4f4f\u5b85\u3002\u5728\u8fd9\u4e00\u5e74\u4e2d\uff0c\u96c6\u56e2\u62a5\u544a\u4e8617\u5bb6\u65b0\u9152\u5e97\u548c\u5ea6\u5047\u6751\u7684\u5f00\u4e1a\uff0c\u5176\u4e2d6\u5bb6\u4f4d\u4e8e\u65e5\u672c\u548c\u97e9\u56fd\uff0c8\u5bb6\u4f4d\u4e8e\u4e2d\u56fd\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) Seatrium Ltd. 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