{"id":72722,"date":"2025-07-24T18:17:09","date_gmt":"2025-07-24T10:17:09","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=72722"},"modified":"2025-07-25T10:08:44","modified_gmt":"2025-07-25T02:08:44","slug":"kgi-daily-trading-ideas-25-jul-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-25-jul-2025-zh\/","title":{"rendered":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e747\u670825\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-72722-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"939\" height=\"388\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-39.png\" alt=\"\" class=\"wp-image-72818\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-39.png 939w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-39-300x124.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-39-768x317.png 768w\" sizes=\"(max-width: 939px) 100vw, 939px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"939\" height=\"241\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-40.png\" alt=\"\" class=\"wp-image-72819\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-40.png 939w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-40-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-40-768x197.png 768w\" sizes=\"(max-width: 939px) 100vw, 939px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"939\" height=\"289\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-41.png\" alt=\"\" class=\"wp-image-72820\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-41.png 939w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-41-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/image-41-768x236.png 768w\" sizes=\"(max-width: 939px) 100vw, 939px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-4.png\" alt=\"\" class=\"wp-image-72757\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-4-300x64.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-72722-_qqv3rtx8nazp\"><\/a><a id=\"post-72722-_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=\"2180\" height=\"1054\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-44.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-72758\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-44.png 2180w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-44-300x145.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-44-1024x495.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-44-768x371.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-44-1536x743.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-screenshot-of-a-computer-ai-generated-content-m-44-2048x990.png 2048w\" sizes=\"(max-width: 2180px) 100vw, 2180px\" \/><\/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-72722-6.png\" alt=\"\" class=\"wp-image-72759\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-6-300x64.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-72722-7.png\" class=\"wp-image-72760\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u5eb7\u798f\u5fb7\u9ad8 (CD SP)\uff1a\u63a8\u52a8\u670d\u52a1\u5353\u8d8a\u548c\u5168\u7403\u6269\u5f20<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.46\uff0c\u76ee\u6807\u4ef7\uff1a1.60\uff0c\u6b62\u635f\u4ef7\uff1a1.39<\/strong><br>  <\/li>\n\n\n\n<li>\u5eb7\u798f\u5fb7\u9ad8\u6709\u9650\u516c\u53f8\u63d0\u4f9b\u9646\u5730\u8fd0\u8f93\u670d\u52a1\u3002\u516c\u53f8\u63d0\u4f9b\u516c\u4ea4\u3001\u51fa\u79df\u8f66\u3001\u94c1\u8def\u3001\u6c7d\u8f66\u79df\u8d41\u548c\u79df\u8d41\u3001\u6c7d\u8f66\u5de5\u7a0b\u670d\u52a1\u3001\u68c0\u9a8c\u548c\u6d4b\u8bd5\u670d\u52a1\u3001\u9a7e\u9a76\u4e2d\u5fc3\u3001\u4fdd\u9669\u7ecf\u7eaa\u670d\u52a1\u4ee5\u53ca\u6237\u5916\u5e7f\u544a\u3002<br>  <\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u8d39\u7528\u653f\u7b56\u52a0\u5f3a\u670d\u52a1\u6807\u51c6\u3002<\/strong>\u4ece7\u670831\u65e5\u8d77\uff0c\u5eb7\u798f\u5fb7\u9ad8\u5c06\u63a8\u51fa\u65b0\u7684\u53d6\u6d88\u548c\u7b49\u5f85\u8d39\u653f\u7b56\uff0c\u53d6\u6d88\u8d39\u7528\u4ece9\u67081\u65e5\u5f00\u59cb\u6536\u53d6\uff0c\u7b49\u5f85\u8d39\u7528\u4ece10\u670815\u65e5\u5f00\u59cb\u6536\u53d6\uff0c\u8bbe\u6709\u5bbd\u9650\u671f\u4ee5\u5e2e\u52a9\u5ba2\u6237\u9002\u5e94\u3002\u4e58\u5ba2\u53d6\u6d88\u9884\u7ea6\u53ef\u80fd\u9700\u652f\u4ed8\u9ad8\u8fbe4\u65b0\u52a0\u5761\u5143\u7684\u8d39\u7528\uff0c\u672a\u6309\u7ea6\u5b9a\u51fa\u73b0\u5219\u9700\u652f\u4ed85\u65b0\u52a0\u5761\u5143\uff0c\u800c\u7b49\u5f85\u8d39\u7528\u5728\u56db\u5206\u949f\u540e\u5f00\u59cb\uff0c\u6bcf\u4e94\u5206\u949f3\u65b0\u52a0\u5761\u5143\uff0c\u6700\u9ad8\u9650\u989d\u4e3a9\u65b0\u52a0\u5761\u5143\u3002\u6b64\u4e3e\u65e8\u5728\u4e3a\u53f8\u673a\u63d0\u4f9b\u516c\u5e73\u7684\u8865\u507f\uff0c\u6291\u5236\u4e0d\u8d1f\u8d23\u4efb\u7684\u9884\u7ea6\uff0c\u5e76\u4e0eGrab\u548cGojek\u7b49\u7ade\u4e89\u5bf9\u624b\u8bbe\u5b9a\u7684\u884c\u4e1a\u6807\u51c6\u4fdd\u6301\u4e00\u81f4\u3002\u5eb7\u798f\u5fb7\u9ad8\u8fd8\u5b9e\u65bd\u4e86\u8d39\u7528\u8b66\u544a\u3001\u4e89\u8bae\u652f\u6301\u548c\u53f8\u673a\u4e0d\u5f53\u884c\u4e3a\u7684\u5904\u7f5a\u7b49\u4fdd\u969c\u63aa\u65bd\uff0c\u5f3a\u5316\u5176\u5bf9\u5e73\u8861\u548c\u53ef\u6301\u7eed\u7684\u6253\u8f66\u751f\u6001\u7cfb\u7edf\u7684\u627f\u8bfa\uff0c\u4ee5\u652f\u6301\u53f8\u673a\u6536\u5165\u548c\u670d\u52a1\u8d28\u91cf\u3002<br>  <\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u81ea\u52a8\u9a7e\u9a76\u8f66\u8f86\u6280\u80fd\u63d0\u5347\u786e\u4fdd\u672a\u6765\u3002<\/strong>\u5eb7\u798f\u5fb7\u9ad8\u79ef\u6781\u6295\u8d44\u4e8e\u52b3\u52a8\u529b\u8f6c\u578b\uff0c\u5728\u65b0\u52a0\u5761\u548c\u4e2d\u56fd\u63a8\u51fa\u4e0e\u81ea\u52a8\u9a7e\u9a76\u76f8\u5173\u7684\u57f9\u8bad\u8ba1\u5212\u3002\u8fd9\u4e9b\u9879\u76ee\u65e8\u5728\u63d0\u5347\u73b0\u6709\u53f8\u673a\u7684\u6280\u80fd\uff0c\u5e76\u4e3a\u81ea\u52a8\u9a7e\u9a76\uff08AV\uff09\u8fd0\u8425\u4e2d\u7684\u65b0\u89d2\u8272\uff08\u5982\u8fdc\u7a0b\u64cd\u4f5c\u5458\u3001\u6570\u636e\u5206\u6790\u5e08\u548c\u8f66\u961f\u7ecf\u7406\uff09\u57f9\u517b\u65b0\u4eba\u624d\u3002\u4e0eMoovita\u5408\u4f5c\u8fdb\u884c\u73b0\u573a\u81ea\u52a8\u9a7e\u9a76\u57f9\u8bad\uff0c\u8be5\u4e3e\u63aa\u53cd\u6620\u4e86\u96c6\u56e2\u66f4\u5e7f\u6cdb\u7684\u627f\u8bfa\uff0c\u5373\u5728\u4ea4\u901a\u884c\u4e1a\u5411\u81ea\u52a8\u5316\u53d1\u5c55\u4e4b\u9645\uff0c\u786e\u4fdd\u5176\u52b3\u52a8\u529b\u7684\u672a\u6765\u4fdd\u969c\u3002\u901a\u8fc7\u8fd9\u4e00\u4e3e\u63aa\uff0c\u5eb7\u798f\u5fb7\u9ad8\u4e0d\u4ec5\u80fd\u7559\u4f4f\u7ecf\u9a8c\u4e30\u5bcc\u7684\u4eba\u624d\uff0c\u8fd8\u80fd\u5438\u5f15\u65b0\u4e00\u4ee3\u4ea4\u901a\u4e13\u4e1a\u4eba\u58eb\uff0c\u786e\u4fdd\u5176\u5728\u51fa\u884c\u8f6c\u578b\u7684\u524d\u6cbf\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5f3a\u52b2\u7684\u6d77\u5916\u589e\u957f\u548c\u5bf9\u7ade\u4e89\u7684\u6218\u7565\u97e7\u6027\u3002<\/strong>\u5eb7\u798f\u5fb7\u9ad8\u7ee7\u7eed\u5c55\u793a\u5f3a\u52b2\u7684\u8d22\u52a1\u8868\u73b0\u548c\u56fd\u9645\u589e\u957f\uff0c2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u51c0\u5229\u6da6\u589e\u957f19%\uff0c\u8fbe\u52304830\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6536\u5165\u540c\u6bd4\u589e\u957f16.4%\u3002\u6d77\u5916\u8d21\u732e\u73b0\u5728\u5360\u603b\u6536\u5165\u768452.6%\uff0c\u4e3b\u8981\u5f97\u76ca\u4e8e\u5728\u6b27\u6d32\u548c\u6fb3\u5927\u5229\u4e9a\u7684\u6210\u529f\u6536\u8d2d\u3002\u9762\u5bf9Grab\u7b49\u7ade\u4e89\u8005\u7684\u6fc0\u70c8\u7ade\u4e89\uff0c\u5eb7\u798f\u5fb7\u9ad8\u5bf9\u901a\u8fc7\u5f3a\u5927\u7684\u652f\u6301\u751f\u6001\u7cfb\u7edf\u4fdd\u7559\u53f8\u673a\u961f\u4f0d\u5145\u6ee1\u4fe1\u5fc3\uff0c\u5305\u62ec\u4f18\u8d28\u7684\u8f66\u8f86\u548c\u71c3\u6599\u6fc0\u52b1\u3002\u6218\u7565\u4e0a\uff0c\u516c\u53f8\u8ba1\u5212\u6269\u5927\u5176\u94c1\u8def\u4e1a\u52a1\uff0c\u7ade\u6807\u5305\u62ec\u58a8\u5c14\u672c\u5730\u94c1\u7cfb\u7edf\u548c\u54e5\u672c\u54c8\u6839\u5730\u94c1\u8fd0\u8425\u5728\u5185\u7684\u91cd\u5927\u5408\u540c\uff0c\u4ece2027\u5e74\u5f00\u59cb\u3002\u8fd9\u4e9b\u4e3e\u63aa\u53cd\u6620\u4e86\u5eb7\u798f\u5fb7\u9ad8\u5728\u516c\u4ea4\u3001\u51fa\u79df\u8f66\u4ee5\u53ca\u73b0\u5728\u7684\u94c1\u8def\u7b49\u591a\u5143\u5316\u80fd\u529b\u4e0b\uff0c\u4f5c\u4e3a\u4e00\u4e2a\u97e7\u6027\u5f3a\u3001\u5177\u5168\u7403\u7ade\u4e89\u529b\u7684\u8fd0\u8f93\u9886\u5bfc\u8005\u7684\u5b9a\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u52a1\u66f4\u65b0\u3002<\/strong>\u5eb7\u798f\u5fb7\u9ad8\u62a5\u544a\u663e\u793a\uff0c\u6536\u5165\u540c\u6bd4\u589e\u957f16.4%\uff0c\u8fbe\u523012\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u6d77\u5916\u4e1a\u52a1\u8d21\u732e\u5360\u603b\u6536\u5165\u768452.6%\uff0c\u8fd9\u662f\u96c6\u56e2\u7684\u9996\u6b21\u3002\u5c3d\u7ba1\u7531\u4e8eJurong West\u516c\u4ea4\u5957\u9910\u7684\u8f6c\u8ba9\u5bfc\u81f4\u672c\u5730\u6536\u5165\u4e0b\u964d\uff0c\u4f46\u65b0\u52a0\u5761\u4e1a\u52a1\u5360\u8425\u4e1a\u5229\u6da6\u768460.2%\uff0c\u5f97\u76ca\u4e8e\u5f3a\u6709\u529b\u7684\u6210\u672c\u63a7\u5236\u548c\u6548\u7387\u63d0\u5347\u3002\u6309\u90e8\u95e8\u5212\u5206\uff0c\u516c\u5171\u4ea4\u901a\u7684\u8425\u4e1a\u5229\u6da6\u589e\u957f52.9%\uff0c\u8fbe\u52303670\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u800c\u51fa\u79df\u8f66\u548c\u79c1\u4eba\u79df\u8d41\u7684\u5229\u6da6\u589e\u957f11.9%\uff0c\u8fbe\u52303210\u4e07\u65b0\u52a0\u5761\u5143\u3002\u5176\u4ed6\u8fd0\u8f93\u90e8\u95e8\u6062\u590d\u76c8\u5229\uff0c\u8425\u4e1a\u5229\u6da6\u4e3a70\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6c7d\u8f66\/\u975e\u8f66\u8f86\u6d4b\u8bd5\u670d\u52a1\u589e\u957f8.4%\uff0c\u8fbe\u5230900\u4e07\u65b0\u52a0\u5761\u5143\u3002\u5176\u4ed6\u90e8\u95e8\u6fc0\u589e150%\uff0c\u521b\u9020\u4e86300\u4e07\u65b0\u52a0\u5761\u5143\u7684\u5229\u6da6\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-72761\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-39.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-39.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-39-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-a-line-and-a-line-ai-generated-conte-3.jpeg\" alt=\"A graph with a line and a line\n\nAI-generated content may be incorrect.\" class=\"wp-image-72762\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-a-line-and-a-line-ai-generated-conte-3.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-a-line-and-a-line-ai-generated-conte-3-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-a-line-and-a-line-ai-generated-conte-3-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-a-line-and-a-line-ai-generated-conte-3-768x370.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-21.png\" class=\"wp-image-72763\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-white-background-description-aut-21.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-white-background-description-aut-21-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure> <\/strong><\/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>\u91cd\u7533\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-72764\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-40.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-40.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-40-300x64.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=\"1195\" height=\"575\" class=\"wp-image-72765\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-24.jpeg\" alt=\"A graph on a white background\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-24.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-24-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-24-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-white-background-ai-generated-conten-24-768x370.jpeg 768w\" sizes=\"(max-width: 1195px) 100vw, 1195px\" \/> <\/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-72722-13.png\" class=\"wp-image-72766\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-13-300x64.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-72722-14.png\" class=\"wp-image-72767\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><a id=\"post-72722-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u963f\u91cc\u5df4\u5df4\u96c6\u56e2 (9988 HK)\uff1a\u4eba\u5de5\u667a\u80fd\u548c\u7535\u5b50\u5546\u52a1\u63a8\u52a8<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a118\uff0c\u76ee\u6807\u4ef7\uff1a134\uff0c\u6b62\u635f\u4ef7\uff1a110<\/strong><br>  <\/li>\n\n\n\n<li>\u963f\u91cc\u5df4\u5df4\u96c6\u56e2\u63a7\u80a1\u6709\u9650\u516c\u53f8\u63d0\u4f9b\u6280\u672f\u57fa\u7840\u8bbe\u65bd\u53ca\u8425\u9500\u5e73\u53f0\u3002\u8be5\u516c\u53f8\u8fd0\u8425\u4e03\u4e2a\u4e1a\u52a1\u5206\u90e8\u3002\u4e2d\u56fd\u5546\u4e1a\u5206\u90e8\u5305\u62ec\u4e2d\u56fd\u96f6\u552e\u5546\u4e1a\u4e1a\u52a1\u5982\u6dd8\u5b9d\u3001\u5929\u732b\u3001\u76d2\u9a6c\u7b49\u4ee5\u53ca\u6279\u53d1\u4e1a\u52a1\u3002\u56fd\u9645\u5546\u4e1a\u5206\u90e8\u5305\u62ec\u56fd\u9645\u96f6\u552e\u53ca\u6279\u53d1\u5546\u4e1a\u4e1a\u52a1\uff0c\u5982Lazada\u3001\u901f\u5356\u901a\u7b49\u3002\u672c\u5730\u751f\u6d3b\u670d\u52a1\u5206\u90e8\u5305\u62ec\u57fa\u4e8e\u4f4d\u7f6e\u4e1a\u52a1\uff0c\u5982\u997f\u4e86\u4e48\u3001\u9ad8\u5fb7\u3001\u98de\u732a\u7b49\u3002\u83dc\u9e1f\u5206\u90e8\u5305\u62ec\u56fd\u5185\u53ca\u56fd\u9645\u4e00\u7ad9\u5f0f\u7269\u6d41\u670d\u52a1\u53ca\u4f9b\u5e94\u94fe\u7ba1\u7406\u89e3\u51b3\u65b9\u6848\u3002\u4e91\u4e1a\u52a1\u5206\u90e8\u5305\u62ec\u5411\u56fd\u5185\u5916\u4f01\u4e1a\u63d0\u4f9b\u516c\u6709\u4e91\u670d\u52a1\u548c\u6df7\u5408\u4e91\u670d\u52a1\uff0c\u5982\u963f\u91cc\u4e91\u53ca\u9489\u9489\u3002\u6570\u5b57\u5a92\u4f53\u53ca\u5a31\u4e50\u5206\u90e8\u5305\u62ec\u4f18\u9177\u3001\u5938\u514b\u548c\u963f\u91cc\u5f71\u4e1a\uff0c\u4ee5\u53ca\u5176\u4ed6\u5185\u5bb9\u548c\u5206\u9500\u5e73\u53f0\u4ee5\u53ca\u7ebf\u4e0a\u6e38\u620f\u4e1a\u52a1\u3002\u521b\u65b0\u4e1a\u52a1\u53ca\u5176\u4ed6\u5206\u90e8\u5305\u62ec\u8fbe\u6469\u9662\u3001\u5929\u732b\u7cbe\u7075\u53ca\u5176\u4ed6\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6dd8\u5b9d\u6cf0\u56fd\u7528\u6237\u5feb\u901f\u589e\u957f\u3002 <\/strong>\u968f\u7740\u901f\u5176\u56fd\u9645\u6269\u5f20\u4ee5\u5f00\u62d3\u65b0\u5e02\u573a\uff0c\u6dd8\u5b9d\u5728\u6cf0\u56fd\u7684\u7528\u6237\u589e\u957f\u8fc5\u731b\u3002\u6839\u636e\u963f\u91cc\u5df4\u5df4\u56fd\u9645\u6570\u5b57\u5546\u4e1a\u96c6\u56e2\uff08AIDC\uff09\u7684\u6570\u636e\uff0c\u5728\u6cf0\u56fd\u63a8\u51fa\u672c\u5730\u5316\u5e73\u53f0\u4e00\u4e2a\u591a\u6708\u540e\uff0c\u6cf0\u56fd\u65b0\u589e\u7528\u6237\u540c\u6bd4\u589e\u957f\u4e8660%\u3002\u6cf0\u8bed\u7248\u672c\u7684\u52a0\u5165\uff0c\u4f7f\u6dd8\u5b9d\u73b0\u6709\u8bed\u8a00\u670d\u52a1\u5728\u4e2d\u6587\u548c\u82f1\u8bed\u7684\u57fa\u7840\u4e0a\u8fdb\u4e00\u6b65\u6269\u5c55\uff0c\u8fd9\u4f53\u73b0\u4e86\u963f\u91cc\u5df4\u5df4\u5728\u4e1c\u5357\u4e9a\u6269\u5927\u7528\u6237\u7fa4\u7684\u6218\u7565\u6027\u4e3e\u63aa\u3002\u501f\u52a9\u963f\u91cc\u5df4\u5df4\u7684AI\u9a71\u52a8\u7ffb\u8bd1\u5de5\u5177\uff0c\u672c\u5730\u5316\u5e94\u7528\u4f7f\u5f97\u7528\u6237\u80fd\u591f\u7528\u6cf0\u8bed\u6d4f\u89c8\u5e73\u53f0\u5e76\u4f7f\u7528\u6cf0\u94e2\u652f\u4ed8\u3002\u6b64\u4e3e\u5c06\u4f7f\u6dd8\u5b9d\u57282024\u5e74\u4f30\u503c\u8fbe341\u4ebf\u7f8e\u5143\u7684\u6cf0\u56fd\u65e5\u76ca\u589e\u957f\u7684\u7535\u5546\u5e02\u573a\u4e2d\u5360\u636e\u66f4\u5927\u7684\u4efd\u989d\u3002\u6b64\u524d\uff0c\u6dd8\u5b9d\u5df2\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u63a8\u51fa\u4e86\u82f1\u6587\u7248\u2014\u2014\u8fd9\u662f\u5176\u9996\u6b21\u5c1d\u8bd5\u975e\u4e2d\u6587\u754c\u9762\uff0c\u6b64\u540e\u5df2\u6269\u5c55\u5230\u5176\u4ed6\u5e02\u573a\u3002<br>  <\/li>\n\n\n\n<li><strong>\u63a8\u51fa\u5148\u8fdbAI\u7f16\u7801\u6a21\u578b\u3002<\/strong> \u963f\u91cc\u5df4\u5df4\u96c6\u56e2\u53d1\u5e03\u4e86Qwen3-Coder\uff0c\u8fd9\u662f\u5176\u8fc4\u4eca\u4e3a\u6b62\u6700\u5148\u8fdb\u7684AI\u7f16\u7801\u6a21\u578b\uff0c\u4ee3\u8868\u7740\u5176AI\u80fd\u529b\u7684\u4e00\u5927\u98de\u8dc3\u3002Qwen3-Coder\u4e13\u4e3a\u9ad8\u6027\u80fd\u8f6f\u4ef6\u5f00\u53d1\u91cf\u8eab\u5b9a\u5236\uff0c\u9488\u5bf9\u4ee3\u7801\u751f\u6210\u3001\u5de5\u4f5c\u6d41\u7f16\u6392\u548c\u5168\u9762\u4ee3\u7801\u5e93\u8c03\u8bd5\u7b49\u4ee3\u7406\u4efb\u52a1\u8fdb\u884c\u4e86\u4f18\u5316\u3002\u6b64\u5916\uff0c\u963f\u91cc\u5df4\u5df4\u6b63\u5728\u5f00\u6e90Qwen Code\uff0c\u8fd9\u662f\u4e00\u6b3e\u547d\u4ee4\u884c\u754c\u9762\u5de5\u5177\uff0c\u4f7f\u5f00\u53d1\u4eba\u5458\u80fd\u591f\u4f7f\u7528\u81ea\u7136\u8bed\u8a00\u63d0\u793a\u5c06\u5de5\u7a0b\u4efb\u52a1\u5378\u8f7d\u7ed9AI\u3002\u51ed\u501f\u5f3a\u5927\u7684\u4ee3\u7406\u529f\u80fd\u3001\u5f00\u6e90\u8bbf\u95ee\u548c\u4e0e\u4e3b\u6d41\u5f00\u53d1\u5de5\u5177\u7684\u517c\u5bb9\u6027\uff0cQwen3-Coder\u6709\u671b\u6210\u4e3a\u5168\u7403\u5f00\u53d1\u8005\u793e\u533a\u7684\u5b9d\u8d35\u8d44\u4ea7\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5373\u5c06\u63a8\u51faAI\u667a\u80fd\u773c\u955c\u3002 <\/strong>\u963f\u91cc\u5df4\u5df4\u6b63\u51c6\u5907\u63a8\u51fa\u5176\u9996\u6b3eAI\u667a\u80fd\u773c\u955c\uff0c\u6807\u5fd7\u7740\u5176\u8fdb\u5165\u7ade\u4e89\u6fc0\u70c8\u7684AI\u53ef\u7a7f\u6234\u8bbe\u5907\u5e02\u573a\u3002\u6b64\u6b21\u53d1\u5e03\u662f\u8be5\u516c\u53f8\u81ea2024\u5e74\u672b\u5bf9\u5176AI\u6d88\u8d39\u8005\u4e1a\u52a1\u8fdb\u884c\u91cd\u7ec4\u4ee5\u6765\u7684\u9996\u6b3e\u6d88\u8d39\u7ea7AI\u4ea7\u54c1\u3002\u8fd9\u6b3e\u667a\u80fd\u773c\u955c\u9884\u8ba1\u5c06\u5177\u5907\u8bed\u97f3\u52a9\u624b\u3001\u97f3\u4e50\u64ad\u653e\u3001\u901a\u8bdd\u3001\u5b9e\u65f6\u7ffb\u8bd1\u548c\u4f1a\u8bae\u8f6c\u5f55\u7b49\u529f\u80fd\u3002\u5b83\u4eec\u5c06\u4e0e\u963f\u91cc\u5df4\u5df4\u7684\u66f4\u5e7f\u6cdb\u751f\u6001\u7cfb\u7edf\u65e0\u7f1d\u96c6\u6210\uff0c\u5305\u62ec\u652f\u4ed8\u5b9d\u548c\u6dd8\u5b9d\u7b49\u5173\u952e\u670d\u52a1\uff0c\u4f7f\u8be5\u4ea7\u54c1\u6210\u4e3a\u65e5\u5e38\u4f7f\u7528\u7684\u591a\u529f\u80fd\u5de5\u5177\u3002<br>  <\/li>\n\n\n\n<li><strong>25\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002 <\/strong>25\u8d22\u5e74\u8425\u6536\u540c\u6bd4\u589e\u957f5.86%\u81f3\u4eba\u6c11\u5e019963\u4ebf\u5143\uff0c\u800c24\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e019412\u4ebf\u5143\u300225\u8d22\u5e74\u51c0\u5229\u6da6\u589e\u957f76.6%\u81f3\u4eba\u6c11\u5e011260\u4ebf\u5143\uff0c\u800c24\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e01713\u4ebf\u5143\u300225\u8d22\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f3\u4eba\u6c11\u5e016.89\u5143\uff0c\u800c24\u8d22\u5e74\u4e3a\u4eba\u6c11\u5e013.95\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-72768\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-41.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-41.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-41-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-screen-ai-generated-content-may-be-i-12.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-72769\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-screen-ai-generated-content-may-be-i-12.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-screen-ai-generated-content-may-be-i-12-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-screen-ai-generated-content-may-be-i-12-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-on-a-screen-ai-generated-content-may-be-i-12-768x370.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-72722-17.png\" class=\"wp-image-72770\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-17.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-17-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u5b89\u5fbd\u6d77\u87ba\u6c34\u6ce5 (914 HK)\uff1a\u65b0\u5efa\u5de8\u578b\u6c34\u575d<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a24.5\uff0c\u76ee\u6807\u4ef7\uff1a27.5\uff0c\u6b62\u635f\u4ef7\uff1a23.0<\/strong><br>  <\/li>\n\n\n\n<li>\u5b89\u5fbd\u6d77\u87ba\u6c34\u6ce5\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u6c34\u6ce5\u3001\u5546\u54c1\u719f\u6599\u3001\u9aa8\u6599\u53ca\u6df7\u51dd\u571f\u7684\u751f\u4ea7\u3001\u9500\u552e\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u7ecf\u8425\u6c34\u6ce5\u53ca\u6c34\u6ce5\u76f8\u5173\u4e1a\u52a1\u548c\u56fa\u5e9f\u53ca\u5371\u5e9f\u5904\u7f6e\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u7684\u6c34\u6ce5\u54c1\u79cd\u4e3b\u8981\u5305\u62ec32.5\u7ea7\u6c34\u6ce5\u300142.5\u7ea7\u6c34\u6ce5\u53ca52.5\u7ea7\u6c34\u6ce5\uff0c\u5e94\u7528\u4e8e\u94c1\u8def\u3001\u516c\u8def\u3001\u673a\u573a\u3001\u6c34\u5229\u5de5\u7a0b\u7b49\u56fd\u5bb6\u5927\u578b\u57fa\u7840\u8bbe\u65bd\u5efa\u8bbe\u9879\u76ee\uff0c\u4ee5\u53ca\u57ce\u5e02\u623f\u5730\u4ea7\u5f00\u53d1\u3001\u6c34\u6ce5\u5236\u54c1\u548c\u519c\u6751\u5e02\u573a\u7b49\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u56fd\u5185\u5916\u5e02\u573a\u5f00\u5c55\u5176\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u8d85\u7ea7\u6c34\u7535\u7ad9\u5efa\u8bbe\u3002<\/strong>\u4e2d\u56fd\u8fd1\u671f\u542f\u52a8\u4e86\u4e16\u754c\u6700\u5927\u6c34\u7535\u8d85\u7ea7\u5927\u575d\u7684\u5efa\u8bbe\u9879\u76ee\uff0c\u9009\u5740\u4f4d\u4e8e\u897f\u85cf\u81ea\u6cbb\u533a\u7684\u96c5\u9c81\u85cf\u5e03\u6c5f\u4e0a\u3002\u8be5\u96c4\u5fc3\u52c3\u52c3\u7684\u5de5\u7a0b\u5c06\u5efa\u8bbe\u4e94\u5ea7\u68af\u7ea7\u6c34\u7535\u7ad9\uff0c\u9884\u8ba1\u6bcf\u5e74\u53ef\u53d1\u7535\u7ea63\u4ebf\u5146\u74e6\u65f6\uff0c\u603b\u6295\u8d44\u7ea6\u8fbe1.2\u4e07\u4ebf\u5143\u4eba\u6c11\u5e01\uff08\u7ea61240\u4ebf\u82f1\u9551\uff09\u3002\u8be5\u6c34\u7535\u7ad9\u5c06\u5145\u5206\u5229\u7528\u96c5\u9c81\u85cf\u5e03\u6c5f\u5728\u4e00\u6bb550\u516c\u91cc\u7684\u6df1\u8c37\u4e2d\u5f62\u6210\u7684U\u578b\u5927\u62d0\u5f2f\u843d\u5dee\u8fbe\u4e24\u516c\u91cc\u7684\u5730\u5f62\u7279\u70b9\u3002\u7531\u4e8e\u9879\u76ee\u89c4\u6a21\u5b8f\u5927\u3001\u7ed3\u6784\u590d\u6742\uff0c\u9884\u8ba1\u6574\u4e2a\u5efa\u8bbe\u5468\u671f\u5185\u5c06\u5927\u5e45\u62c9\u52a8\u6c34\u6ce5\u53ca\u76f8\u5173\u5efa\u6750\u7684\u9700\u6c42\uff0c\u6f5c\u5728\u53d7\u76ca\u4f01\u4e1a\u5305\u62ec\u6d77\u87ba\u6c34\u6ce5\u7b49\u4e3b\u8981\u4f9b\u5e94\u5546\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5efa\u7b51\u5e02\u573a\u56de\u6696\u3002<\/strong>\u4e2d\u56fd\u4e0a\u534a\u5e74\u5efa\u7b51\u673a\u68b0\u9500\u91cf\u540c\u6bd4\u589e\u957f23%\uff0c\u663e\u793a\u51fa\u884c\u4e1a\u590d\u82cf\u8ff9\u8c61\u3002\u4e2d\u56fd\u5de5\u7a0b\u673a\u68b0\u5de5\u4e1a\u534f\u4f1a\u6570\u636e\u663e\u793a\uff0c1\u81f36\u6708\u56fd\u5185\u6316\u6398\u673a\u9500\u91cf\u660e\u663e\u4e0a\u5347\uff0c\u8fd9\u662f\u8861\u91cf\u5efa\u7b51\u6d3b\u52a8\u548c\u94a2\u6750\u9700\u6c42\u7684\u91cd\u8981\u6307\u6807\u3002\u6b64\u6b21\u53cd\u5f39\u4e3b\u8981\u53d7\u76ca\u4e8e\u653f\u5e9c\u4e3a\u5e94\u5bf9\u623f\u5730\u4ea7\u884c\u4e1a\u957f\u671f\u4f4e\u8ff7\u800c\u51fa\u53f0\u7684\u523a\u6fc0\u653f\u7b56\u3002\u968f\u7740\u884c\u4e1a\u6301\u7eed\u590d\u82cf\uff0c\u5efa\u7b51\u6750\u6599\u9700\u6c42\u6709\u671b\u4e0a\u5347\uff0c\u6d77\u87ba\u6c34\u6ce5\u7b49\u751f\u4ea7\u5546\u6709\u671b\u4ece\u4e2d\u53d7\u76ca\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u540c\u6bd4\u4e0b\u964d10.7%\uff0c\u81f3191\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a213\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f20.5%\uff0c\u81f318.1\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a15.0\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u589e\u957f\u81f3\u4eba\u6c11\u5e010.34\u5143\uff0c\u9ad8\u4e8e2024\u5e74\u540c\u671f\u7684\u4eba\u6c11\u5e010.28\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-72771\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-42.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-42.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-42-300x64.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\/a-graph-of-a-stock-market-ai-generated-content-ma-10.jpeg\" alt=\"A graph of a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-72772\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-10.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-10-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-10-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-10-768x370.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<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-72722-20.png\" alt=\"\" class=\"wp-image-72773\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-20.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-20-300x64.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-72722-21.png\" alt=\"\" class=\"wp-image-72774\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-21.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-21-300x64.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>T-Mobile US Inc. (TMUS US)\uff1a\u89e3\u9501\u65e0\u7f1d\u8fde\u63a5<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a240 \u76ee\u6807\u4ef7\uff1a270 \u6b62\u635f\u4ef7\uff1a225<\/strong><br>  <\/li>\n\n\n\n<li>T-Mobile US, Inc. \u662f\u4e00\u5bb6\u65e0\u7ebf\u7f51\u7edc\u8fd0\u8425\u5546\u3002\u516c\u53f8\u63d0\u4f9b\u65e0\u7ebf\u8bed\u97f3\u3001\u6d88\u606f\u548c\u6570\u636e\u670d\u52a1\u3002T-Mobile US \u4e3a\u7f8e\u56fd\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5ba2\u6237\u9700\u6c42\u589e\u52a0\u548c\u6301\u7eed\u6536\u8d2d\u3002<\/strong>T-Mobile \u53d1\u5e03\u4e86\u5f3a\u52b2\u7684\u7b2c\u4e8c\u5b63\u5ea6\u4e1a\u7ee9\uff0c\u65b0\u589e83\u4e07\u540e\u4ed8\u8d39\u624b\u673a\u7528\u6237\uff0c\u8d85\u51fa\u9884\u671f\uff0c\u5e76\u5c06\u5e74\u5ea6\u7528\u6237\u65b0\u589e\u9884\u6d4b\u4e0a\u8c03\u81f3610\u4e07 \u2013 640\u4e07\u3002\u589e\u957f\u4e3b\u8981\u5f97\u76ca\u4e8e\u5176\u9ad8\u7aef\u201c\u4f53\u9a8c\u201d\u8ba1\u5212\u7684\u5f3a\u52b2\u9700\u6c42\uff0c\u8be5\u8ba1\u5212\u5305\u62ec\u6346\u7ed1\u7684\u6d41\u5a92\u4f53\u670d\u52a1\u548c\u536b\u661f\u8986\u76d6\uff0c60%\u7684\u65b0\u8d26\u6237\u9009\u62e9\u4e86\u8fd9\u4e9b\u9876\u7ea7\u670d\u52a1\u3002T-Mobile \u8fd8\u65b0\u589e\u4e8645.4\u4e07\u9ad8\u901f\u4e92\u8054\u7f51\u7528\u6237\uff0c\u5e76\u63d0\u9ad8\u4e86\u5168\u5e74\u6307\u5bfc\uff0c\u5f97\u76ca\u4e8e\u79ef\u6781\u7684\u4fc3\u9500\u548c\u50cf\u6bcf\u670810\u7f8e\u5143\u7684 T-Satellite \u670d\u52a1\u7b49\u4ea7\u54c1\u521b\u65b0\u3002\u9664\u4e86\u8fd0\u8425\u52bf\u5934\u5916\uff0cT-Mobile \u901a\u8fc7\u5ba3\u5e03\u4ee544\u4ebf\u7f8e\u5143\u6536\u8d2d U.S. Cellular \u6765\u63d0\u5347\u5176\u6218\u7565\u5b9a\u4f4d\uff0c\u9884\u8ba1\u5728\u83b7\u5f97FCC\u6279\u51c6\u540e\u4e8e8\u67081\u65e5\u5b8c\u6210\u4ea4\u6613\u3002\u516c\u53f8\u8fd8\u540c\u610f\u4ee529\u4ebf\u7f8e\u5143\u73b0\u91d1\u548cGrain\u7684\u5168\u90e8600 MHz\u9891\u8c31\u8bb8\u53ef\u8bc1\u51fa\u552e\u5176800 MHz\u8bb8\u53ef\u8bc1\u3002\u6b64\u5916\uff0c\u5b83\u8fd8\u4e0eKKR & Co.\u6210\u7acb\u4e86\u5408\u8d44\u4f01\u4e1a\uff0c\u6536\u8d2d\u5149\u7ea4\u4f9b\u5e94\u5546Metronet\uff0c\u4ea4\u6613\u4e8e7\u670824\u65e5\u5b8c\u6210\u3002\u516c\u53f8\u62a5\u544a\u7b2c\u4e8c\u5b63\u5ea6\u6536\u5165\u4e3a211.3\u4ebf\u7f8e\u5143\uff0c\u8d85\u51fa\u5206\u6790\u5e08\u9884\u671f\uff0c\u5e76\u901a\u8fc7\u5dee\u5f02\u5316\u8ba1\u5212\u3001\u6269\u5c55\u7f51\u7edc\u8d44\u4ea7\u548c\u5149\u7ea4\u6295\u8d44\u7ee7\u7eed\u589e\u5f3a\u5176\u5728AT&T\u548cVerizon\u9762\u524d\u7684\u7ade\u4e89\u4f18\u52bf\u3002<br>  <\/li>\n\n\n\n<li><strong>\u52a0\u5f3a\u4f01\u4e1a\u589e\u957f\u3002<\/strong>T-Mobile \u901a\u8fc7\u4e0e\u7f8e\u56fd\u4e24\u5927\u6709\u7ebf\u7535\u89c6\u4f9b\u5e94\u5546Comcast\u548cCharter Communications\u7b7e\u8ba2\u65b0\u7684\u79fb\u52a8\u865a\u62df\u7f51\u7edc\u8fd0\u8425\u5546\uff08MVNO\uff09\u534f\u8bae\uff0c\u5de9\u56fa\u4e86\u5176\u5728\u5546\u4e1a\u65e0\u7ebf\u9886\u57df\u7684\u9886\u5bfc\u5730\u4f4d\u3002\u8be5MVNO\u8ba1\u5212\u4e8e2026\u5e74\u63a8\u51fa\uff0c\u4e13\u95e8\u4f7f\u7528T-Mobile\u76845G\u7f51\u7edc\u4e3aComcast\u548cCharter\u7684\u5546\u4e1a\u5ba2\u6237\u63d0\u4f9b\u79fb\u52a8\u8fde\u63a5\uff0c\u6269\u5c55\u4e86T-Mobile\u7684\u4f01\u4e1a\u7248\u56fe\u3002\u8be5\u534f\u8bae\u5f3a\u8c03\u4e86T-Mobile\u4f5c\u4e3a\u6279\u53d1\u5408\u4f5c\u4f19\u4f34\u7684\u5438\u5f15\u529b\uff0c\u5e76\u7a81\u663e\u4e86\u968f\u7740\u6709\u7ebf\u516c\u53f8\u5728\u4ed8\u8d39\u7535\u89c6\u589e\u957f\u653e\u7f13\u65f6\u591a\u6837\u5316\u7684\u80cc\u666f\u4e0b\uff0c\u5bf9\u7075\u6d3b\u3001\u9ad8\u901f\u65e0\u7ebf\u670d\u52a1\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\u3002\u8fd9\u4e00\u4e3e\u63aa\u5efa\u7acb\u5728T-Mobile\u6301\u7eed\u7684MVNO\u5173\u7cfb\u57fa\u7840\u4e0a\uff0c\u4f7f\u5176\u5728\u5feb\u901f\u53d1\u5c55\u7684\u8fde\u63a5\u6027\u683c\u5c40\u4e2d\u6210\u4e3a\u652f\u67f1\u63d0\u4f9b\u5546\u3002<br>  <\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u536b\u661f\u521b\u65b0\u6269\u5c55\u8986\u76d6\u8303\u56f4\u3002<\/strong>T-Mobile \u5728\u7f51\u7edc\u6269\u5c55\u65b9\u9762\u5f15\u9886\u521b\u65b0\uff0c\u5176\u5373\u5c06\u63a8\u51fa\u7684\u536b\u661f\u5230\u624b\u673a\u670d\u52a1 T-Satellite \u4e8e7\u670823\u65e5\u4e0eSpaceX\u7684Starlink\u5408\u4f5c\u6b63\u5f0f\u4e0a\u7ebf\u3002\u5728\u6210\u529f\u7684\u6d4b\u8bd5\u9636\u6bb5\u540e\uff0c\u6ce8\u518c\u7528\u6237\u8d85\u8fc7180\u4e07\uff0c\u5305\u62ec\u6765\u81eaAT&T\u548cVerizon\u7684\u5927\u91cf\u7528\u6237\u8f6c\u79fb\uff0c\u8be5\u670d\u52a1\u5c06\u6269\u5c55\u8986\u76d6\u8d85\u8fc750\u4e07\u5e73\u65b9\u82f1\u91cc\u7684\u6b64\u524d\u65e0\u6cd5\u8986\u76d6\u7684\u7f8e\u56fd\u533a\u57df\u3002\u4ece10\u67081\u65e5\u8d77\uff0cT-Satellite \u5c06\u652f\u6301\u6570\u636e\u670d\u52a1\uff0c\u4f7f\u8fdc\u7a0b\u5730\u533a\u7684\u5e94\u7528\u4f7f\u7528\u6210\u4e3a\u53ef\u80fd\uff0c\u5e76\u5c06\u65e0\u9700\u989d\u5916\u8d39\u7528\u5305\u542b\u5728T-Mobile\u7684\u65b0\u201c\u4f53\u9a8c\u8d85\u8d8a\u201d\u8ba1\u5212\u4e2d\u3002\u5bf9\u4e8eAT&T\u548cVerizon\u7684\u5ba2\u6237\uff0c\u8be5\u670d\u52a1\u5c06\u6536\u8d39\u6bcf\u670810\u7f8e\u5143\u3002\u8fd9\u53cd\u6620\u4e86T-Mobile \u6d88\u9664\u79fb\u52a8\u6b7b\u89d2\u7684\u627f\u8bfa\uff0c\u589e\u5f3a\u5ba2\u6237\u4ef7\u503c\uff0c\u5e76\u6253\u7834\u65e0\u7ebf\u7f51\u7edc\u7684\u4f20\u7edf\u9650\u5236\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e8c\u5b63\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f6.9%\uff0c\u8fbe\u5230211.3\u4ebf\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f1.1\u4ebf\u7f8e\u5143\u3002GAAP\u6bcf\u80a1\u6536\u76ca\u4e3a2.84\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.17\u7f8e\u5143\u3002\u9274\u4e8eMetronet\u7684\u52a0\u5165\uff0c\u516c\u53f8\u73b0\u5728\u9884\u8ba1\u65b0\u589e\u7528\u6237\u5c06\u4ecb\u4e8e610\u4e07\u5230640\u4e07\u4e4b\u95f4\uff0c\u800c\u4e4b\u524d\u7684\u9884\u671f\u4e3a550\u4e07\u5230600\u4e07\u3002\u6838\u5fc3\u8c03\u6574\u540e EBITDA \u9884\u8ba1\u5728333\u4ebf\u5230337\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u6bd4\u4e4b\u524d\u7684\u6307\u5bfc\u4e2d\u70b9\u4e0a\u8c03\u81f3332\u4ebf\u5230337\u4ebf\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-object-with-numbers-19.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-72775\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-numbers-19.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-numbers-19-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-11.jpeg\" alt=\"A graph of a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-72776\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-11.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-11-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-11-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-of-a-stock-market-ai-generated-content-ma-11-768x370.jpeg 768w\" sizes=\"(max-width: 1195px) 100vw, 1195px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"200\" alt=\"A long line of a flag\n\nDescription automatically generated with medium confidence\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-flag-description-automatically-g-21.png\" class=\"wp-image-72777\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-flag-description-automatically-g-21.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-flag-description-automatically-g-21-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-long-line-of-a-flag-description-automatically-g-21-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\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>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a200 \u76ee\u6807\u4ef7\uff1a230 \u6b62\u635f\u4ef7\uff1a185<\/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-43.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-72778\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-43.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-blue-and-white-rectangular-object-with-white-tex-43-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1195\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-green-and-red-squares-ai-generated-c-3.jpeg\" alt=\"A graph with green and red squares\n\nAI-generated content may be incorrect.\" class=\"wp-image-72779\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-green-and-red-squares-ai-generated-c-3.jpeg 1195w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-green-and-red-squares-ai-generated-c-3-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-green-and-red-squares-ai-generated-c-3-1024x493.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/a-graph-with-green-and-red-squares-ai-generated-c-3-768x370.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<a id=\"post-72722-_Hlt181111973\"><\/a><a id=\"post-72722-_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-72722-_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-72722-27.png\" class=\"wp-image-72780\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-27.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-27-300x64.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-72722-28.png\" alt=\"\" class=\"wp-image-72781\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-28.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-28-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Add Anhui Conch Cement Co Ltd (914 HK) at HK$24.5. Add Circle Internet Group Inc (CRCL US) at US$200. Cut loss on Robinhood Markets Inc. (HOOD US) at US$102.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"545\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-29.png\" alt=\"\" class=\"wp-image-72782\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-29.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-29-300x173.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/07\/word-image-72722-29-768x444.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 \u5eb7\u798f\u5fb7\u9ad8 (CD SP)\uff1a\u63a8\u52a8\u670d\u52a1\u5353\u8d8a\u548c\u5168\u7403\u6269\u5f20 (Source: Bloomberg) \u60a6\u6995\u63a7\u80a1 (BTH SP)\uff1a\u5728\u5404\u5e02\u573a\u6269\u5f20 (Source: Bloomberg) \u963f\u91cc\u5df4\u5df4\u96c6\u56e2 (9988 HK)\uff1a\u4eba\u5de5\u667a\u80fd\u548c\u7535\u5b50\u5546\u52a1\u63a8\u52a8 (Source: Bloomberg) \u5b89\u5fbd\u6d77\u87ba\u6c34\u6ce5 (914 HK)\uff1a\u65b0\u5efa\u5de8\u578b\u6c34\u575d (Source: Bloomberg) T-Mobile US Inc. (TMUS US)\uff1a\u89e3\u9501\u65e0\u7f1d\u8fde\u63a5 (Source: Bloomberg) Circle Internet Group, Inc. (CRCL US)\uff1a\u52a0\u5bc6\u8d27\u5e01\u7684\u5708\u5b50 (Source: Bloomberg) ^ Back To Top Trading [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":38071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-72722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kgi-daily-trading-ideas-chinese"],"aioseo_notices":[],"uagb_featured_image_src":{"full":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"thumbnail":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2-150x150.png?wsr",150,150,true],"medium":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2-300x177.png?wsr",300,177,true],"medium_large":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"large":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"1536x1536":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false],"2048x2048":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2024\/01\/2.png?wsr",652,385,false]},"uagb_author_info":{"display_name":"Jiong Han Lee","author_link":"https:\/\/www.kgieworld.sg\/research\/author\/jionghan-leekgi-com\/"},"uagb_comment_info":0,"uagb_excerpt":"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u5eb7\u798f\u5fb7\u9ad8 (CD SP)\uff1a\u63a8\u52a8\u670d\u52a1\u5353\u8d8a\u548c\u5168\u7403\u6269\u5f20 (Source: Bloomberg) \u60a6\u6995\u63a7\u80a1 (BTH SP)\uff1a\u5728\u5404\u5e02\u573a\u6269\u5f20 (Source: Bloomberg) \u963f\u91cc\u5df4\u5df4\u96c6\u56e2 (9988 HK)\uff1a\u4eba\u5de5\u667a\u80fd\u548c\u7535\u5b50\u5546\u52a1\u63a8\u52a8 (Source: Bloomberg) \u5b89\u5fbd\u6d77\u87ba\u6c34\u6ce5 (914 HK)\uff1a\u65b0\u5efa\u5de8\u578b\u6c34\u575d (Source: Bloomberg) T-Mobile US Inc. (TMUS US)\uff1a\u89e3\u9501\u65e0\u7f1d\u8fde\u63a5 (Source: Bloomberg) Circle Internet Group, Inc. (CRCL US)\uff1a\u52a0\u5bc6\u8d27\u5e01\u7684\u5708\u5b50 (Source: Bloomberg) ^ Back To Top Trading&hellip;","_links":{"self":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/72722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/comments?post=72722"}],"version-history":[{"count":2,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/72722\/revisions"}],"predecessor-version":[{"id":72821,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/72722\/revisions\/72821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/media\/38071"}],"wp:attachment":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/media?parent=72722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/categories?post=72722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/tags?post=72722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}