{"id":74893,"date":"2025-08-25T08:38:27","date_gmt":"2025-08-25T00:38:27","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=74893"},"modified":"2025-08-25T08:38:27","modified_gmt":"2025-08-25T00:38:27","slug":"kgi-daily-trading-ideas-25-aug-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-25-aug-2025-zh\/","title":{"rendered":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e748\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-74893-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1530\" height=\"723\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-screen-ai-generated-co-19.png\" alt=\"A screenshot of a computer screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74926\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-screen-ai-generated-co-19.png 1530w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-screen-ai-generated-co-19-300x142.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-screen-ai-generated-co-19-1024x484.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-screen-ai-generated-co-19-768x363.png 768w\" sizes=\"(max-width: 1530px) 100vw, 1530px\" \/><\/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\/08\/word-image-74893-2.png\" alt=\"\" class=\"wp-image-74927\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-2.png 1071w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-2-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-2-1024x262.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-2-768x196.png 768w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"915\" height=\"282\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-3.png\" alt=\"\" class=\"wp-image-74928\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-3.png 915w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-3-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-3-768x237.png 768w\" sizes=\"(max-width: 915px) 100vw, 915px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-4.png\" alt=\"\" class=\"wp-image-74929\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-4-300x64.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-74893-_qqv3rtx8nazp\"><\/a><a id=\"post-74893-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"823\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-phone-ai-generated-content-may-4.png\" alt=\"A screenshot of a phone\n\nAI-generated content may be incorrect.\" class=\"wp-image-74930\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-phone-ai-generated-content-may-4.png 1920w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-phone-ai-generated-content-may-4-300x129.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-phone-ai-generated-content-may-4-1024x439.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-phone-ai-generated-content-may-4-768x329.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-phone-ai-generated-content-may-4-1536x658.png 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/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\/08\/word-image-74893-6.png\" alt=\"\" class=\"wp-image-74931\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-6-300x64.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\/08\/word-image-74893-7.png\" class=\"wp-image-74932\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1<\/strong><br>  <\/li>\n\n\n\n<li>\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u65b0\u52a0\u5761\u7684\u8bc1\u5238\u548c\u884d\u751f\u54c1\u4ea4\u6613\u6240\u53ca\u5176\u76f8\u5173\u6e05\u7b97\u6240\u3002\u516c\u53f8\u8fd8\u4e3a\u91d1\u878d\u884c\u4e1a\u7684\u53c2\u4e0e\u8005\u63d0\u4f9b\u8f85\u52a9\u8bc1\u5238\u5904\u7406\u548c\u4fe1\u606f\u6280\u672f\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u521b\u7eaa\u5f55\u7684\u8d22\u52a1\u8868\u73b0\u548c\u6301\u7eed\u7684\u5206\u7ea2\u589e\u957f\u3002<\/strong>\u65b0\u52a0\u5761\u4ea4\u6613\u6240\uff08SGX\uff09\u5b9e\u73b0\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\uff0c\u5f70\u663e\u5176\u591a\u8d44\u4ea7\u6218\u7565\u548c\u4e25\u683c\u6267\u884c\u7684\u6210\u529f\u3002\u5c3d\u7ba1\u4e0b\u534a\u5e74\u6536\u76ca\u7565\u6709\u4e0b\u964d\uff0c\u4f46\u5168\u5e74\u5229\u6da6\u589e\u957f8.4%\uff0c\u63a5\u8fd16.48\u4ebf\u65b0\u5143\uff0c\u5f97\u76ca\u4e8e\u80a1\u7968\u3001\u56fa\u5b9a\u6536\u76ca\u3001\u8d27\u5e01\u548c\u5546\u54c1\u7684\u5e7f\u6cdb\u589e\u957f\u3002\u540c\u65f6\uff0cSGX\u7ee7\u7eed\u901a\u8fc7\u6e10\u8fdb\u7684\u5206\u7ea2\u653f\u7b56\u589e\u5f3a\u80a1\u4e1c\u56de\u62a5\uff0c\u5305\u62ec\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u7a33\u5b9a\u589e\u52a00.0025\u65b0\u5143\u3002\u8463\u4e8b\u4f1a\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a0.105\u65b0\u5143\uff0c\u4f7f2025\u8d22\u5e74\u7684\u603b\u652f\u4ed8\u63d0\u9ad8\u81f30.375\u65b0\u5143\uff0c\u53cd\u6620\u51fa\u5e74\u5316\u589e\u957f8.7%\u3002\u8fd9\u4e00\u521b\u7eaa\u5f55\u7684\u6536\u76ca\u52bf\u5934\u4e0e\u53ef\u9760\u7684\u5206\u7ea2\u589e\u957f\u76f8\u7ed3\u5408\uff0c\u589e\u5f3a\u4e86SGX\u5728\u5168\u7403\u5e02\u573a\u6ce2\u52a8\u4e2d\u7684\u9632\u5fa1\u6027\u548c\u6536\u76ca\u6027\u6295\u8d44\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0d\u65ad\u589e\u957f\u7684IPO\u7ba1\u9053\u548c\u4ea7\u54c1\u521b\u65b0\u3002<\/strong>SGX\u51c6\u5907\u901a\u8fc7\u5f3a\u5927\u7684IPO\u7ba1\u9053\u6355\u83b7\u66f4\u591a\u589e\u957f\uff0c\u8fd9\u662f\u591a\u5e74\u6765\u6700\u5f3a\u52b2\u7684\uff0c\u5f97\u76ca\u4e8e\u653f\u5e9c\u6fc0\u52b1\u63aa\u65bd\u548c\u5e02\u573a\u6d41\u52a8\u6027\u7684\u589e\u5f3a\u3002\u8d85\u8fc730\u5bb6\u516c\u53f8\u6b63\u5728\u79ef\u6781\u51c6\u5907\u4e0a\u5e02\uff0c\u7a81\u663e\u51fa\u5bf9\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684 renewed \u4fe1\u5fc3\u3002\u540c\u65f6\uff0cSGX\u6b63\u5728\u6269\u5c55\u521b\u65b0\u4ea7\u54c1\uff0c\u4f8b\u5982\u4e0e\u4e1c\u76df\u5e02\u573a\u76f8\u5173\u7684SGX\u5b58\u6258\u51ed\u8bc1\uff08SDRs\uff09\u548c\u6d3b\u8dc3\u7684ETF\u4e0a\u5e02\uff0c\u4f7f\u6295\u8d44\u8005\u80fd\u591f\u66f4\u6709\u6548\u5730\u5b9e\u73b0\u6295\u8d44\u7ec4\u5408\u591a\u6837\u5316\u3002\u8fd9\u4e9b\u52aa\u529b\u7ed3\u5408\u6301\u7eed\u7684\u6280\u672f\u589e\u5f3a\u548c\u4ea7\u54c1\u521b\u65b0\uff0c\u5de9\u56fa\u4e86SGX\u4f5c\u4e3a\u4e9a\u6d32\u9996\u5c48\u4e00\u6307\u7684\u591a\u8d44\u4ea7\u4ea4\u6613\u6240\u548c\u5168\u7403\u8d44\u672c\u6d41\u52a8\u4e2d\u5fc3\u7684\u89d2\u8272\u3002<br>  <\/li>\n\n\n\n<li><strong>\u91cd\u632f\u65b0\u52a0\u5761\u7684\u80a1\u7968\u751f\u6001\u7cfb\u7edf\u3002<\/strong>\u65b0\u52a0\u576150\u4ebf\u65b0\u52a0\u5761\u5143\u7684\u80a1\u5e02\u53d1\u5c55\u8ba1\u5212\uff0c\u7531\u65b0\u52a0\u5761\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u4e3b\u5bfc\uff0c\u4ee3\u8868\u7740\u5bf9\u632f\u5174\u672c\u5730\u80a1\u7968\u5e02\u573a\u7684\u91cd\u8981\u6218\u7565\u627f\u8bfa\uff0c\u5c24\u5176\u662f\u901a\u8fc7\u589e\u5f3a\u6d41\u52a8\u6027\u3001\u7814\u7a76\u548c\u6295\u8d44\u8005\u53c2\u4e0e\u3002\u6700\u521d\u5411Avanda\u6295\u8d44\u7ba1\u7406\u3001\u5bcc\u6566\u57fa\u91d1\u7ba1\u7406\u548c\u6469\u6839\u5927\u901a\u8d44\u4ea7\u7ba1\u7406\u5206\u914d\u768411\u4ebf\u65b0\u52a0\u5761\u5143\u53cd\u6620\u4e86\u5f3a\u5927\u7684\u673a\u6784\u652f\u6301\uff0c\u5e76\u4e3a\u652f\u6301SGX\u4e0a\u8f83\u5c11\u4ee3\u8868\u7684\u5c0f\u578b\u548c\u4e2d\u578b\u516c\u53f8\u7684\u57fa\u7840\u5960\u5b9a\u4e86\u57fa\u7840\u3002\u8fd9\u4e9b\u52aa\u529b\u4e0d\u4ec5\u65e8\u5728\u63d0\u5347\u4f30\u503c\u548c\u4ea4\u6613\u6d3b\u52a8\uff0c\u8fd8\u5e0c\u671b\u5438\u5f15\u65b0\u4e00\u4ee3\u9ad8\u8d28\u91cf\u4e0a\u5e02\u516c\u53f8\uff0c\u4fc3\u8fdb\u66f4\u5177\u6d3b\u529b\u548c\u97e7\u6027\u7684\u8d44\u672c\u5e02\u573a\u751f\u6001\u7cfb\u7edf\u3002\u8fd1\u671f\u6d77\u5ce1\u65f6\u62a5\u6307\u6570\u521b\u4e0b\u65b0\u9ad8\uff0c\u4f34\u968f\u4ea4\u6613\u91cf\u589e\u52a0\u548c\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08IPO\uff09\u52bf\u5934\u6062\u590d\uff0c\u8868\u660e\u6295\u8d44\u8005\u5bf9SGX\u524d\u666f\u7684\u4fe1\u5fc3\u589e\u5f3a\u3002\u5c3d\u7ba1\u5728\u8d44\u91d1\u90e8\u7f72\u7b56\u7565\u65b9\u9762\u4ecd\u9700\u66f4\u900f\u660e\uff0c\u4f46\u66f4\u5e7f\u6cdb\u7684\u6539\u9769\u6b63\u5728\u91ca\u653e\u80a1\u4e1c\u4ef7\u503c\uff0c\u4f7f\u5e02\u573a\u66f4\u6613\u4e8e\u8fdb\u5165\u3002\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\uff0c\u8fd9\u4e9b\u4e3e\u63aa\u5e94\u7f29\u5c0f\u4e0e\u5730\u533a\u540c\u884c\u7684\u4f30\u503c\u5dee\u8ddd\uff0c\u589e\u52a0\u878d\u8d44\u673a\u4f1a\uff0c\u5e76\u63d0\u5347\u65b0\u52a0\u5761\u4f5c\u4e3a\u7ade\u4e89\u529b\u548c\u52a8\u6001\u91d1\u878d\u4e2d\u5fc3\u7684\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u5c3d\u7ba12025\u8d22\u5e74\u4e0b\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d2.6%\uff0c\u964d\u81f33.08\u4ebf\u65b0\u5143\uff08\u53bb\u5e74\u4e3a3.163\u4ebf\u65b0\u5143\uff09\uff0c\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62a5\u544a\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\u30022025\u8d22\u5e74\u6536\u5165\u4e3a13\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\u3002\u8c03\u6574\u540e\u7684\u5e74\u5ea6\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u52306.095\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u53d7\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u4ea4\u6613\u91cf\u589e\u52a0\u7684\u63a8\u52a8\u3002SGX\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a10.5\u5206\uff0c\u6bd4\u53bb\u5e749\u5206\u6709\u6240\u4e0a\u5347\uff0c\u5e76\u8ba1\u5212\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u589e\u52a00.25\u5206\u7684\u80a1\u606f\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-74933\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-46.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\/08\/a-blue-and-white-rectangular-object-with-numbers-46.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-46-300x64.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=\"997\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-9.jpeg\" alt=\"\" class=\"wp-image-74934\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-9.jpeg 997w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-9-300x173.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-9-768x443.jpeg 768w\" sizes=\"(max-width: 997px) 100vw, 997px\" \/><\/figure>\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<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"752\" height=\"160\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-19.jpeg\" alt=\"A long line of a white background\n\nDescription automatically generated with medium confidence\" class=\"wp-image-74935\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-19.jpeg 752w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-19-300x64.jpeg 300w\" sizes=\"(max-width: 752px) 100vw, 752px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\n  <strong> <\/strong>\n<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.84\uff0c\u76ee\u6807\u4ef7\uff1a3.14\uff0c\u6b62\u635f\u4ef7\uff1a2.69<\/strong><br>  <\/li>\n\n\n\n<li>\u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8\u5efa\u9020\u5404\u79cd\u8239\u53ea\u3002\u516c\u53f8\u751f\u4ea7\u591a\u79cd\u5546\u7528\u8239\u8236\uff0c\u5305\u62ec\u5c0f\u578b\u6563\u8d27\u8239\u3001\u591a\u7528\u9014\u8d27\u8239\u3001\u96c6\u88c5\u7bb1\u8239\u3001\u5316\u5b66\u54c1\u6cb9\u8f6e\u3001\u6d77\u4e0a\u4f9b\u5e94\u8239\u3001\u6551\u63f4\u548c\u6253\u635e\u8239\u4ee5\u53ca\u8d77\u91cd\u8239\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5c3d\u7ba1\u6536\u5165\u9762\u4e34\u538b\u529b\uff0c\u5229\u6da6\u589e\u957f\u521b\u7eaa\u5f55\u3002<\/strong>\u626c\u5b50\u6c5f\u8239\u4e1a\u57282025\u5e74\u4e0a\u534a\u5e74\u4ea4\u4ed8\u4e86\u521b\u7eaa\u5f55\u7684\u51c0\u5229\u6da642\u4ebf\u5143\u4eba\u6c11\u5e01\uff087.526\u4ebf\u65b0\u52a0\u5761\u5143\uff09\uff0c\u540c\u6bd4\u589e\u957f36.7%\uff0c\u5c3d\u7ba1\u6536\u5165\u5fae\u964d1.3%\uff0c\u964d\u81f3129\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u76c8\u5229\u80fd\u529b\u663e\u8457\u6539\u5584\uff0c\u51c0\u5229\u6da6\u7387\u4ece\u53bb\u5e74\u540c\u671f\u768423.4%\u6269\u5927\u81f332.5%\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6765\u81ea\u8054\u8425\u516c\u53f8\u548c\u5408\u8d44\u4f01\u4e1a\u7684\u66f4\u9ad8\u8d21\u732e\u3002\u626c\u5b50\u6c5f\u6536\u8d2d\u4e86\u626c\u5b50\u4e09\u4e95\u8239\u823634%\u7684\u80a1\u6743\u540e\uff0c\u6765\u81ea\u626c\u5b50\u4e09\u4e95\u8239\u8236\uff083.2\u4ebf\u5143\u4eba\u6c11\u5e01\uff09\u548c\u6d25\u8f7b\u9020\u8239\uff081.6\u4ebf\u5143\u4eba\u6c11\u5e01\uff09\u7684\u8d21\u732e\u5c24\u5176\u663e\u8457\u3002\u8fd9\u4e00\u591a\u5143\u5316\u7684\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u548c\u8054\u8425\u80a1\u6743\u7684\u5e03\u5c40\u6b63\u5728\u6210\u4e3a\u6709\u6548\u7684\u76c8\u5229\u7a33\u5b9a\u5668\uff0c\u5e2e\u52a9\u62b5\u6d88\u6765\u81ea\u4f4e\u4ef7\u503c\u6cb9\u8f6e\u5408\u540c\u548c\u75b2\u5f31\u822a\u8fd0\u79df\u8d41\u7387\u5e26\u6765\u7684\u6536\u5165\u75b2\u8f6f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5f3a\u5927\u7684\u8ba2\u5355\u7c3f\u4e3a\u884c\u4e1a\u4f4e\u8ff7\u63d0\u4f9b\u76c8\u5229\u53ef\u89c1\u6027\u3002<\/strong>\u5c3d\u7ba12025\u5e74\u4e0a\u534a\u5e74\u65b0\u8ba2\u5355\u9510\u51cf\u81f3\u4ec55.37\u4ebf\u7f8e\u5143\uff0c\u800c\u53bb\u5e74\u540c\u671f\u4e3a33\u4ebf\u7f8e\u5143\uff0c\u4f46\u626c\u5b50\u6c5f\u7684\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u4ecd\u7136\u53ef\u89c2\uff0c\u8fbe\u5230232\u4ebf\u7f8e\u5143\uff0c\u5ef6\u7eed\u81f32029\u5e74\u53ca\u4ee5\u540e\u3002\u65b0\u5408\u540c\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u7a81\u663e\u51fa\u5c3d\u7ba1\u5168\u7403\u8239\u8236\u8ba2\u5355\u5728\u4e0a\u534a\u5e74\u540c\u6bd4\u6536\u7f2954%\uff0c\u626c\u5b50\u6c5f\u7684\u6838\u5fc3\u4ea7\u54c1\u4ecd\u6709\u6301\u7eed\u9700\u6c42\u3002\u8fd9\u4e00\u53ef\u89c2\u7684\u8ba2\u5355\u79ef\u538b\u4e3a\u672a\u6765\u51e0\u5e74\u7684\u76c8\u5229\u63d0\u4f9b\u4e86\u6e05\u6670\u7684\u53ef\u89c1\u6027\uff0c\u5e76\u4f7f\u516c\u53f8\u5728\u5173\u7a0e\u4e0d\u786e\u5b9a\u6027\u548c\u5168\u7403\u8d38\u6613\u91cf\u5728\u4e0b\u534a\u5e74\u7a33\u5b9a\u540e\u52a0\u901f\u5176\u8ba2\u5355\u589e\u957f\u3002\u7ba1\u7406\u5c42\u4e5f\u8868\u793a\u5bf9\u586b\u88652028-2029\u5e74\u5269\u4f59\u4ea4\u8d27\u65f6\u6bb5\u7684\u4fe1\u5fc3\uff0c\u4e3b\u8981\u9488\u5bf9\u4e2d\u5c0f\u578b\u8239\u8236\uff0c\u8fdb\u4e00\u6b65\u652f\u6301\u4e2d\u671f\u589e\u957f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5de9\u56fa\u4e2d\u56fd\u5728\u5168\u7403\u8239\u8236\u5236\u9020\u7684\u4e3b\u5bfc\u5730\u4f4d\u3002<\/strong>\u66f4\u5e7f\u6cdb\u7684\u4e2d\u56fd\u8239\u8236\u5236\u9020\u4e1a\u7ee7\u7eed\u5de9\u56fa\u5176\u4e3b\u5bfc\u5730\u4f4d\uff0c2025\u5e74\u4e0a\u534a\u5e74\u5360\u5168\u7403\u5b8c\u5de5\u91cf\u768451.7%\u548c\u65b0\u8ba2\u5355\u768468.3%\u3002\u6b63\u5728\u8fdb\u884c\u7684\u4e2d\u8239\u96c6\u56e2\u548c\u4e2d\u56fd\u8239\u8236\u5de5\u4e1a\u96c6\u56e2\u7684\u80a1\u6743\u4e92\u6362\u5408\u5e76\uff0c\u5c06\u521b\u9020\u51fa\u5168\u7403\u8d44\u4ea7\u548c\u6536\u5165\u6700\u5927\u7684\u4e0a\u5e02\u8239\u8236\u5236\u9020\u5546\uff0c\u8fd9\u5c06\u7b80\u5316\u8fd0\u8425\uff0c\u964d\u4f4e\u9ad8\u8fbe10%\u7684\u6210\u672c\uff0c\u5e76\u589e\u5f3a\u5728LNG\u8fd0\u8f93\u8239\u548c\u5927\u578b\u96c6\u88c5\u7bb1\u8239\u7b49\u9ad8\u7aef\u8239\u8236\u7c7b\u578b\u7684\u7ade\u4e89\u529b\u3002\u5bf9\u626c\u5b50\u6c5f\u800c\u8a00\uff0c\u4e0e\u89c4\u6a21\u66f4\u5927\u7684\u56fd\u6709\u4f01\u4e1a\u5171\u540c\u8fd0\u8425\u65e2\u5e26\u6765\u6311\u6218\u4e5f\u5e26\u6765\u673a\u9047\uff0c\u5c3d\u7ba1\u7ade\u4e89\u53ef\u80fd\u52a0\u5267\uff0c\u4f46\u66f4\u5f3a\u5927\u7684\u751f\u6001\u7cfb\u7edf\u53ef\u80fd\u589e\u5f3a\u4f9b\u5e94\u94fe\u6548\u7387\u548c\u4e2d\u56fd\u8239\u8236\u5236\u9020\u5546\u7684\u5168\u7403\u4fe1\u8a89\u3002\u6700\u7ec8\uff0c\u8fd9\u4e00\u6574\u5408\u7a81\u663e\u4e86\u4e2d\u56fd\u8239\u8236\u5236\u9020\u7684\u4e3b\u5bfc\u5730\u4f4d\uff0c\u4e3a\u626c\u5b50\u6c5f\u7684\u589e\u957f\u8f68\u8ff9\u63d0\u4f9b\u4e86\u652f\u6301\u80cc\u666f\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u626c\u5b50\u6c5f\u8239\u4e1a\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a128.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u4e0b\u964d1.3%\u3002\u51c0\u5229\u6da6\u4e3a41.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u6fc0\u589e36.7%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a30.6\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u5728\u4e0a\u534a\u5e74\uff0c\u96c6\u56e2\u83b7\u5f97\u4e86\u603b\u989d\u4e3a5.372\u4ebf\u7f8e\u5143\uff086.9\u4ebf\u65b0\u52a0\u5761\u5143\uff09\u768414\u8258\u8239\u8236\u5408\u540c\uff0c\u5176\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u63d0\u5347\u4e86\u96c6\u56e2\u7684\u603b\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u81f3232\u4ebf\u7f8e\u5143\uff0c\u8ba1\u5212\u4e8e2029\u5e74\u53ca\u4ee5\u540e\u4ea4\u4ed8\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-74936\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-25.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-25.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-25-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-25.jpeg\" alt=\"A graph on a white background\n\nAI-generated content may be incorrect.\" class=\"wp-image-74937\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-25.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-25-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-25-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-25-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-25-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\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<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-13.png\" alt=\"\" class=\"wp-image-74938\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-13-300x64.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=\"hk\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-14.png\" class=\"wp-image-74939\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><a id=\"post-74893-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a38.5\uff0c\u76ee\u6807\u4ef7\uff1a43.5\uff0c\u6b62\u635f\u4ef7\uff1a36.0<\/strong><br>  <\/li>\n\n\n\n<li>\u6bd4\u4e9a\u8fea\u7535\u5b50\uff08\u56fd\u9645\uff09\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u63d0\u4f9b\u9ad8\u79d1\u6280\u4ea7\u54c1\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u7684\u4e3b\u8425\u4e1a\u52a1\u662f\u5236\u9020\u3001\u7ec4\u88c5\u53ca\u9500\u552e\u624b\u673a\u90e8\u4ef6\u3001\u6a21\u7ec4\u53ca\u5176\u4ed6\u4ea7\u54c1\u3002\u8be5\u516c\u53f8\u4e3a\u5ba2\u6237\u63d0\u4f9b\u65b0\u6750\u6599\u5f00\u53d1\u3001\u4ea7\u54c1\u8bbe\u8ba1\u4e0e\u7814\u53d1\u3001\u96f6\u90e8\u4ef6\u53ca\u6574\u673a\u5236\u9020\u3001\u4f9b\u5e94\u94fe\u7ba1\u7406\u3001\u7269\u6d41\u53ca\u552e\u540e\u7b49\u4e00\u7ad9\u5f0f\u670d\u52a1\u3002\u8be5\u516c\u53f8\u7684\u4e1a\u52a1\u6db5\u76d6\u667a\u80fd\u624b\u673a\u3001\u5e73\u677f\u7535\u8111\u3001\u65b0\u80fd\u6e90\u6c7d\u8f66\u3001\u6237\u7528\u50a8\u80fd\u3001\u667a\u80fd\u5bb6\u5c45\u3001\u6e38\u620f\u786c\u4ef6\u3001\u65e0\u4eba\u673a\u3001\u4eba\u5de5\u667a\u80fd\uff08AI\uff09\u670d\u52a1\u5668\u3001\u4e09\u7ef4\uff083D\uff09\u6253\u5370\u673a\u3001\u7269\u8054\u7f51\u3001\u673a\u5668\u4eba\u3001\u901a\u4fe1\u8bbe\u5907\u3001\u533b\u7597\u5065\u5eb7\u8bbe\u5907\u7b49\u5e02\u573a\u9886\u57df\u3002\u8be5\u516c\u53f8\u5728\u56fd\u5185\u548c\u56fd\u5916\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6d77\u5916\u7535\u52a8\u8f66\u6295\u8d44\u589e\u52a0\u3002<\/strong>\u968f\u7740\u56fd\u5185\u4ea7\u80fd\u8fc7\u5269\u548c\u65f7\u65e5\u6301\u4e45\u7684\u4ef7\u683c\u6218\u538b\u7f29\u4e86\u6574\u4e2a\u4f9b\u5e94\u94fe\u7684\u5229\u6da6\uff0c\u4e2d\u56fd\u6c7d\u8f66\u5236\u9020\u5546\u6b63\u5728\u52a0\u5feb\u5168\u7403\u6269\u5f20\u3002\u4e3a\u4e86\u51cf\u8f7b\u7f8e\u56fd\u548c\u6b27\u6d32\u5173\u7a0e\u7684\u5f71\u54cd\u5e76\u6ee1\u8db3\u5916\u56fd\u5ba2\u6237\u5bf9\u672c\u5730\u5316\u751f\u4ea7\u7684\u9700\u6c42\uff0c\u5404\u516c\u53f8\u6b63\u5728\u6d77\u5916\u5efa\u5382\u3002\u4f5c\u4e3a\u4e2d\u56fd\u6700\u7545\u9500\u7684\u6c7d\u8f66\u5236\u9020\u5546\uff0c\u6bd4\u4e9a\u8fea\u5df2\u5728\u5df4\u897f\u548c\u6cf0\u56fd\u8bbe\u6709\u5de5\u5382\uff0c\u5e76\u6b63\u8ba1\u5212\u5728\u571f\u8033\u5176\u548c\u5370\u5ea6\u5c3c\u897f\u4e9a\u5efa\u8bbe\u65b0\u8bbe\u65bd\u3002\u7136\u800c\uff0c\u7531\u4e8e\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u548c\u7279\u6717\u666e\u603b\u7edf\u4efb\u671f\u5185\u7f8e\u56fd\u8d38\u6613\u653f\u7b56\u5e26\u6765\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u8be5\u516c\u53f8\u6700\u8fd1\u6401\u7f6e\u4e86\u5728\u58a8\u897f\u54e5\u5efa\u8bbe\u4e00\u5ea7\u5927\u578b\u5de5\u5382\u7684\u8ba1\u5212\u3002\u8fd9\u4e9b\u6d77\u5916\u6295\u8d44\u9884\u8ba1\u5c06\u4f7f\u4f5c\u4e3a\u6bd4\u4e9a\u8fea\u4f9b\u5e94\u94fe\u4e00\u90e8\u5206\u7684\u6bd4\u4e9a\u8fea\u7535\u5b50\u4ee5\u53ca\u5176\u4ed6\u652f\u6301\u6d77\u5916\u7535\u52a8\u8f66\u589e\u957f\u7684\u4f9b\u5e94\u5546\u53d7\u76ca\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e2d\u56fd\u667a\u80fd\u624b\u673a\u9500\u91cf\u590d\u82cf\u3002<\/strong>\u4e2d\u56fd\u667a\u80fd\u624b\u673a\u5e02\u573a\u572825\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u663e\u793a\u51fa\u65b0\u7684\u5f3a\u52b2\u52bf\u5934\u3002\u534e\u4e3a\u4ee51,220\u4e07\u53f0\u7684\u51fa\u8d27\u91cf\uff08\u540c\u6bd4\u589e\u957f15%\uff09\u91cd\u593a\u7b2c\u4e00\u5b9d\u5ea7\uff0c\u800c\u82f9\u679c\u51fa\u8d27\u91cf\u4e3a1,010\u4e07\u53f0\uff08\u540c\u6bd4\u589e\u957f4%\uff09\uff0c\u8fd9\u662f\u81ea23\u5e74\u7b2c\u56db\u5b63\u5ea6\u4ee5\u6765\u82f9\u679c\u5728\u4e2d\u56fd\u9996\u6b21\u5b9e\u73b0\u5b63\u5ea6\u589e\u957f\uff0c\u6392\u540d\u7b2c\u4e94\u3002\u8fd9\u4e9b\u7ed3\u679c\u51f8\u663e\u4e86\u56fd\u5185\u667a\u80fd\u624b\u673a\u5e02\u573a\u7684\u5f39\u6027\u9700\u6c42\u3002\u968f\u7740\u653f\u5e9c\u65e8\u5728\u523a\u6fc0\u6d88\u8d39\u7684\u8865\u8d34\u653f\u7b56\u51fa\u53f0\uff0c\u6bd4\u4e9a\u8fea\u7535\u5b50\u6709\u671b\u4ece\u4e2d\u56fd\u667a\u80fd\u624b\u673a\u9500\u91cf\u7684\u4e0a\u5347\u548c\u6d88\u8d39\u7535\u5b50\u4ea7\u54c1\u9700\u6c42\u7684\u589e\u52a0\u4e2d\u95f4\u63a5\u53d7\u76ca\u3002<br>  <\/li>\n\n\n\n<li><strong>25\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>25\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u589e\u957f1.10%\u81f3369\u4ebf\u4eba\u6c11\u5e01\uff0c\u800c24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a365\u4ebf\u4eba\u6c11\u5e01\u3002\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u5229\u6da6\u4ece24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846.104\u4ebf\u4eba\u6c11\u5e01\u589e\u957f1.92%\u81f325\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846.221\u4ebf\u4eba\u6c11\u5e01\u3002\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4ece24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u6bcf\u80a10.27\u4eba\u6c11\u5e01\u589e\u81f325\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u6bcf\u80a10.28\u4eba\u6c11\u5e01\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-74940\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-15.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-15-300x64.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=\"997\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-16.jpeg\" alt=\"\" class=\"wp-image-74941\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-16.jpeg 997w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-16-300x173.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-16-768x443.jpeg 768w\" sizes=\"(max-width: 997px) 100vw, 997px\" \/><\/figure>\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<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\/08\/word-image-74893-17.png\" class=\"wp-image-74942\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-17.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-17-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u5156\u77ff\u80fd\u6e90 (1171 HK)\uff1aRebounding coal prices<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a9.20\uff0c\u76ee\u6807\u4ef7\uff1a10.40\uff0c\u6b62\u635f\u4ef7\uff1a8.60<\/strong><br>  <\/li>\n\n\n\n<li>\u5156\u77ff\u80fd\u6e90\u96c6\u56e2\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u7164\u70ad\u4e1a\u52a1\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u901a\u8fc7\u4e94\u4e2a\u5206\u90e8\u5f00\u5c55\u4e1a\u52a1\u3002\u7164\u70ad\u4e1a\u52a1\u5206\u90e8\u7684\u4ea7\u54c1\u4e3b\u8981\u5305\u62ec\u52a8\u529b\u7164\u3001\u55b7\u5439\u7164\u548c\u7126\u7164\uff0c\u9002\u7528\u4e8e\u7535\u529b\u3001\u51b6\u91d1\u53ca\u5316\u5de5\u7b49\u884c\u4e1a\u3002\u7164\u5316\u5de5\u53ca\u7535\u529b\u5206\u90e8\u7684\u4ea7\u54c1\u4e3b\u8981\u5305\u62ec\u7532\u9187\u3001\u918b\u9178\u3001\u918b\u9178\u4e59\u916f\u3001\u5df1\u5185\u9170\u80fa\u3001\u5c3f\u7d20\u3001\u4e59\u4e8c\u9187\u3001\u77f3\u8111\u6cb9\u3001\u7c97\u6db2\u4f53\u8721\u7b49\u3002\u77ff\u7528\u8bbe\u5907\u5236\u9020\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u91c7\u77ff\u8bbe\u5907\u7684\u5236\u9020\u3002\u975e\u7164\u70ad\u8d38\u6613\u53ca\u7269\u6d41\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u667a\u6167\u7269\u6d41\u4e1a\u52a1\u3002\u8d37\u6b3e\u548c\u878d\u8d44\u79df\u8d41\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u5b58\u6b3e\u548c\u8d37\u6b3e\u7b49\u4e1a\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u590f\u5b63\u70ed\u6d6a\u63a8\u52a8\u7535\u529b\u9700\u6c42\u6301\u7eed\u589e\u957f\u3002<\/strong>\u4eca\u5e74\u590f\u5929\uff0c\u4e2d\u56fd\u5404\u5730\u7684\u521b\u7eaa\u5f55\u9ad8\u6e29\u5bfc\u81f4\u7528\u7535\u91cf\u6fc0\u589e\uff0c\u5bb6\u5ead\u548c\u4f01\u4e1a\u5bf9\u7a7a\u8c03\u548c\u98ce\u6247\u7684\u4f9d\u8d56\u5ea6\u66f4\u9ad8\u3002\u5728\u4e1c\u5317\u6cbf\u6d77\u57ce\u5e02\u548c\u5c71\u4e1c\u7701\u7b49\u6c14\u6e29\u8d85\u8fc735\u00b0C\u7684\u5730\u533a\uff0c\u964d\u6e29\u5df2\u6210\u4e3a\u5fc5\u9700\u800c\u975e\u53ef\u9009\u9879\u3002\u7531\u6b64\u5e26\u6765\u7684\u7535\u529b\u9700\u6c42\u6fc0\u589e\u9884\u8ba1\u5c06\u6301\u7eed\u652f\u6491\u7164\u70ad\u6d88\u8d39\uff0c\u4e3a\u5156\u77ff\u80fd\u6e90\u5e26\u6765\u77ed\u671f\u5229\u597d\uff0c\u5373\u4fbf\u4e2d\u56fd\u6b63\u9010\u6b65\u5411\u66f4\u6e05\u6d01\u7684\u80fd\u6e90\u8fc7\u6e21\u3002<br>  <\/li>\n\n\n\n<li><strong>\u66f4\u4e25\u683c\u7684\u7164\u70ad\u4f9b\u5e94\u76d1\u7ba1\u4ee5\u652f\u6491\u4ef7\u683c\u3002<\/strong>\u4e2d\u56fd\u5f53\u5c40\u8fd1\u671f\u5df2\u52a0\u7d27\u52aa\u529b\uff0c\u904f\u5236\u8fc7\u5ea6\u7684\u7164\u70ad\u751f\u4ea7\uff0c\u5728\u5c71\u897f\u3001\u5185\u8499\u53e4\u3001\u9655\u897f\u548c\u65b0\u7586\u7b49\u516b\u4e2a\u7701\u4efd\u5f00\u5c55\u68c0\u67e5\uff0c\u6253\u51fb\u8d85\u91cf\u5f00\u91c7\u3002\u76d1\u7ba1\u673a\u6784\u8fd8\u8b66\u544a\u79f0\uff0c\u8d85\u8bb8\u53ef\u4ea7\u80fd\u7684\u7164\u77ff\u53ef\u80fd\u9762\u4e34\u5173\u95ed\u3002\u8fd9\u4e9b\u65e8\u5728\u904f\u5236\u8fc7\u5269\u4ea7\u80fd\u548c\u7a33\u5b9a\u5e02\u573a\u7684\u63aa\u65bd\uff0c\u53ef\u80fd\u4f1a\u6536\u7d27\u4f9b\u5e94\u5e76\u5bf9\u7164\u4ef7\u9020\u6210\u4e0a\u884c\u538b\u529b\uff0c\u4ece\u800c\u4f7f\u5156\u77ff\u5728\u77ed\u671f\u5185\u53d7\u76ca\u3002<br>  <\/li>\n\n\n\n<li><strong>\u7164\u70ad\u4ef7\u683c\u6b63\u5728\u56de\u5347\u3002<\/strong>\u81ea2025\u5e746\u6708\u4ee5\u6765\uff0c\u7164\u70ad\u4ef7\u683c\u7a33\u6b65\u56de\u5347\uff0c\u8fd9\u5f97\u76ca\u4e8e\u5f3a\u52b2\u7684\u590f\u5b63\u7528\u7535\u9700\u6c42\u548c\u5bf9\u7164\u70ad\u751f\u4ea7\u5546\u653f\u7b56\u652f\u6301\u7684\u65e5\u76ca\u589e\u957f\u7684\u9884\u671f\u3002\u6700\u8fd1\u5bf9\u8fc7\u5ea6\u751f\u4ea7\u7684\u76d1\u7ba1\u6253\u51fb\u8fdb\u4e00\u6b65\u589e\u5f3a\u4e86\u5e02\u573a\u60c5\u7eea\uff0c\u4fc3\u6210\u4e86\u4ef7\u683c\u7684\u9010\u6b65\u4e0a\u6da8\u3002\u56e0\u6b64\uff0c\u5156\u77ff\u6709\u671b\u5728\u672a\u6765\u51e0\u4e2a\u5b63\u5ea6\u4ee5\u66f4\u9ad8\u7684\u4ef7\u683c\u6c34\u5e73\u51fa\u552e\u7164\u70ad\u3002<br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u52a8\u529b\u7164\u4ef7\u683c<\/strong>\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1239\" height=\"637\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-line-ai-generated-content-may-b-3.jpeg\" alt=\"A graph showing a line\n\nAI-generated content may be incorrect.\" class=\"wp-image-74943\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-line-ai-generated-content-may-b-3.jpeg 1239w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-line-ai-generated-content-may-b-3-300x154.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-line-ai-generated-content-may-b-3-1024x526.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-line-ai-generated-content-may-b-3-768x395.jpeg 768w\" sizes=\"(max-width: 1239px) 100vw, 1239px\" \/><\/figure>\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<ul class=\"wp-block-list\">\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u4e1a\u6536\u5165\u4e3a303\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684396\u4ebf\u5143\u4eba\u6c11\u5e01\u4e0b\u964d23.5%\u30022025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u5229\u6da6\u4e3a27.1\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u768437.6\u4ebf\u5143\u4eba\u6c11\u5e01\u4e0b\u964d27.9%\u3002\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u4e3a\u6bcf\u80a10.27\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a\u6bcf\u80a10.39\u5143\u4eba\u6c11\u5e01\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-74944\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-26.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-26.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-26-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-34.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74945\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-34.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-34-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-34-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-34-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-34-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\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<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-21.png\" alt=\"\" class=\"wp-image-74946\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-21.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-21-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<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\/08\/word-image-74893-22.png\" alt=\"\" class=\"wp-image-74947\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-22.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-22-300x64.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>Nebius Group NV (NBIS US): \u63d0\u9ad8\u6ee1\u8db3\u9700\u6c42\u7684\u80fd\u529b<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a67 \u76ee\u6807\u4ef7\uff1a75\u6b62\u635f\u4ef7\uff1a63<\/strong><br>  <\/li>\n\n\n\n<li>Nebius Group \u662f\u4e00\u5bb6\u4e3a\u5168\u7403\u4eba\u5de5\u667a\u80fd\u5f00\u53d1\u8005\u63d0\u4f9b\u57fa\u7840\u8bbe\u65bd\u548c\u670d\u52a1\u7684\u79d1\u6280\u516c\u53f8\u3002\u8be5\u96c6\u56e2\u7684\u6838\u5fc3\u4e1a\u52a1 Nebius \u662f\u4e00\u4e2a\u4e13\u4e3a\u4eba\u5de5\u667a\u80fd\u5de5\u4f5c\u8d1f\u8f7d\u800c\u6784\u5efa\u7684\u4ee5\u4eba\u5de5\u667a\u80fd\u4e3a\u4e2d\u5fc3\u7684\u4e91\u5e73\u53f0\u3002Nebius Group \u4e3a\u5168\u7403\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0a\u8c03\u9884\u6d4b\uff0c\u9884\u793a\u6301\u7eed\u5f3a\u52b2\u7684\u9700\u6c42\u3002<\/strong>Nebius Group \u516c\u5e03\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\u4e3a1.051\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f624.8%\u3002\u516c\u53f8\u9996\u5e2d\u6267\u884c\u5b98 Arkady Volozh \u6307\u51fa\uff0cNebius \u7684\u8425\u6536\u6bd4\u4e0a\u4e00\u5b63\u5ea6\u589e\u957f\u4e86\u4e00\u500d\u4ee5\u4e0a\uff0c\u5e76\u63d0\u524d\u5b9e\u73b0\u4e86\u8c03\u6574\u540e\u7684\u6b63 EBITDA\u3002\u516c\u53f8\u5df2\u5c06\u51762025\u5e74\u5e74\u5ea6\u5316\u8425\u6536\u6307\u5f15\u4e0a\u8c03\u81f39\u4ebf\u81f311\u4ebf\u7f8e\u5143\u4e4b\u95f4\u3002\u8fd9\u4e00\u4e0a\u8c03\u7684\u5c55\u671b\u4e5f\u9884\u793a\u7740\u516c\u53f8\u672a\u6765\u7684\u5f3a\u52b2\u4e1a\u52a1\u52bf\u5934\uff0c\u4ee5\u53ca\u5176\u4e3a\u6ee1\u8db3\u672a\u6765\u9700\u6c42\u800c\u4e0d\u65ad\u6269\u5927\u7684\u80fd\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>\u79ef\u6781\u6269\u5f20\u6570\u636e\u4e2d\u5fc3\u4ee5\u6ee1\u8db3\u4eba\u5de5\u667a\u80fd\u9700\u6c42\u3002<\/strong>Nebius \u6b63\u5728\u79ef\u6781\u6269\u5927\u5176\u4ea7\u80fd\uff0c\u4ee5\u5e94\u5bf9\u5bf9\u4eba\u5de5\u667a\u80fd\u57fa\u7840\u8bbe\u65bd\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\uff0c\u65e8\u5728\u6293\u4f4f\u4eba\u5de5\u667a\u80fd\u7528\u4f8b\u6fc0\u589e\u6240\u5e26\u6765\u7684\u5de8\u5927\u673a\u9047\u3002\u8be5\u516c\u53f8\u5df2\u5ba3\u5e03\u8ba1\u5212\u57282026\u5e74\u5e95\u524d \ud655\ubcf4\u8d85\u8fc71\u5409\u74e6\u7684\u7535\u529b\uff0c\u4ee5\u652f\u6301\u5176\u6570\u636e\u4e2d\u5fc3\u7684\u6269\u5f20\u5de5\u4f5c\u3002\u6b64\u4e3e\u8868\u660e\u516c\u53f8\u81f4\u529b\u4e8e\u6293\u4f4f\u4eba\u5de5\u667a\u80fd\u7b97\u529b\u5e02\u573a\u7684\u5de8\u5927\u673a\u9047\u3002<br>  <\/li>\n\n\n\n<li><strong>25\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8d22\u62a5\u56de\u987e\u3002<\/strong>Nebius \u8425\u6536\u4e3a1.051\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f624.8%\uff0c\u8d85\u51fa\u9884\u671f390\u4e07\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u51c0\u4e8f\u635f\u4e3a9,150\u4e07\u7f8e\u5143\u3002\u51762025\u5e74\u5e95\u7684\u5e74\u5ea6\u5316\u8425\u6536\u6307\u5f15\u4e0a\u8c03\u81f39\u4ebf\u81f311\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\/08\/word-image-74893-23.png\" alt=\"\" class=\"wp-image-74948\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-23.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-23-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"997\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-24.jpeg\" alt=\"\" class=\"wp-image-74949\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-24.jpeg 997w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-24-300x173.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-24-768x443.jpeg 768w\" sizes=\"(max-width: 997px) 100vw, 997px\" \/><\/figure>\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<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\/08\/a-long-line-of-a-flag-description-automatically-g-19.png\" class=\"wp-image-74950\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-19.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-19-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-19-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Arm Holdings Plc (ARM US): \u63d0\u9ad8\u589e\u957f\u96c4\u5fc3<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a125 \u76ee\u6807\u4ef7\uff1a141 \u6b62\u635f\u4ef7\uff1a117<\/strong><br>  <\/li>\n\n\n\n<li>ARM Holdings PLC\u662f\u4e00\u5bb6\u63a7\u80a1\u516c\u53f8\uff0c\u901a\u8fc7\u5176\u5b50\u516c\u53f8\u8bbe\u8ba1\u548c\u5236\u9020\u534a\u5bfc\u4f53\u6280\u672f\u53ca\u76f8\u5173\u4ea7\u54c1\uff0c\u5982\u8ba1\u7b97\u673a\u5904\u7406\u5668\u3001\u5185\u5b58\u63a7\u5236\u5668\u3001\u4e92\u8054\u7f51\u534f\u8bae\u7cfb\u7edf\u3001\u56fe\u5f62\u5904\u7406\u5668\u3001\u5b89\u5168\u548c\u5b58\u50a8\u8bbe\u5907\uff0c\u670d\u52a1\u4e8e\u5168\u7403\u6c7d\u8f66\u3001\u57fa\u7840\u8bbe\u65bd\u548c\u6d88\u8d39\u6280\u672f\u5e02\u573a\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6218\u7565\u4eba\u624d\u62db\u8058\u52a0\u901f\u5185\u90e8\u82af\u7247\u96c4\u5fc3\u3002<\/strong>ARM\u62db\u8058\u4e9a\u9a6c\u900aAI\u82af\u7247\u4e13\u5bb6Rami Sinno\uff0c\u6807\u5fd7\u7740\u4ece\u4f20\u7edfIP\u6388\u6743\u6a21\u5f0f\u5411\u6784\u5efa\u5b8c\u6574\u82af\u7247\u548c\u82af\u7247\u6a21\u5757\u7684\u6218\u7565\u8f6c\u53d8\u3002ARM\u8fc7\u53bb\u4e3b\u8981\u4e3a\u5ba2\u6237\u5982\u82f9\u679c\u3001\u82f1\u4f1f\u8fbe\u548c\u9ad8\u901a\u8bbe\u8ba1\u67b6\u6784\u548c\u6307\u4ee4\u96c6\u3002\u901a\u8fc7\u5c06\u5229\u6da6\u6295\u8d44\u4e8e\u5f00\u53d1\u81ea\u6709\u6210\u54c1\u82af\u7247\u548c\u5b50\u7cfb\u7edf\uff0cARM\u6b63\u5411\u5782\u76f4\u6574\u5408\u89e3\u51b3\u65b9\u6848\u8fc8\u8fdb\uff0c\u9488\u5bf9\u9ad8\u6027\u80fdAI\u5de5\u4f5c\u8d1f\u8f7d\uff0c\u4e0e\u82f1\u4f1f\u8fbe\u548c\u5b9a\u5236\u8d85\u5927\u89c4\u6a21\u7845\u7ade\u4e89\u3002\u5c3d\u7ba1\u6267\u884c\u98ce\u9669\u8f83\u9ad8\uff0c\u4f46\u4ece\u4e9a\u9a6c\u900a\u3001HPE\u3001\u82f1\u7279\u5c14\u548c\u9ad8\u901a\u5f15\u5165\u9876\u5c16\u4eba\u624d\u663e\u793a\u7ba1\u7406\u5c42\u81f4\u529b\u4e8e\u5efa\u7acb\u5185\u90e8\u4e13\u4e1a\u77e5\u8bc6\u5e76\u5f25\u8865\u80fd\u529b\u5dee\u8ddd\u3002<br>  <\/li>\n\n\n\n<li><strong>\u521b\u7eaa\u5f55\u7684\u8bb8\u53ef\u548c\u7248\u7a0e\u589e\u957f\u5f70\u663e\u97e7\u6027\u5546\u4e1a\u6a21\u5f0f\u3002<\/strong>ARM\u5b9e\u73b0\u4e86\u521b\u7eaa\u5f55\u7684\u5b63\u5ea6\u6536\u516510.5\u4ebf\u7f8e\u5143\uff0c\u8fde\u7eed\u7b2c\u4e8c\u4e2a\u5b63\u5ea6\u7a81\u783410\u4ebf\u7f8e\u5143\u5927\u5173\u3002\u7248\u7a0e\u6536\u5165\u540c\u6bd4\u589e\u957f25%\uff0c\u8fbe\u52305.85\u4ebf\u7f8e\u5143\uff0c\u5f97\u76ca\u4e8eARMv9\u67b6\u6784\u7684\u65e5\u76ca\u666e\u53ca\u3001\u8ba1\u7b97\u5b50\u7cfb\u7edf\uff08CSS\uff09\u90e8\u7f72\u7684\u589e\u52a0\u4ee5\u53ca\u6570\u636e\u4e2d\u5fc3\u6e17\u900f\u7684\u589e\u5f3a\u3002\u73b0\u5728\u6709\u8d85\u8fc770,000\u5bb6\u4f01\u4e1a\u5728\u57fa\u4e8eARM Neoverse\u7684\u82af\u7247\u4e0a\u8fd0\u884c\u5de5\u4f5c\u8d1f\u8f7d\uff0c\u81ea2021\u5e74\u4ee5\u6765\u589e\u957f\u4e8614\u500d\uff0cARM\u7684\u751f\u6001\u7cfb\u7edf\u52bf\u5934\u6b63\u5728\u52a0\u901f\u3002CSS\u51cf\u5c11\u4e86\u5408\u4f5c\u4f19\u4f34\u7684\u5f00\u53d1\u65f6\u95f4\u548c\u6210\u672c\uff0c\u5df2\u5728\u6c7d\u8f66\u3001\u6570\u636e\u4e2d\u5fc3\u548cPC\u5e02\u573a\u83b7\u5f97\u8bbe\u8ba1\u80dc\u5229\uff0c\u5305\u62ec\u4e0e\u7279\u65af\u62c9\u3001\u5954\u9a70\u3001\u4e09\u661f\u548c\u5c0f\u7c73\u7b49\u9886\u5148OEM\u7684\u5408\u4f5c\u3002\u8fd9\u51f8\u663e\u4e86ARM\u901a\u8fc7\u6301\u7eed\u7684\u7248\u7a0e\u6d41\u8d27\u5e01\u5316\u521b\u65b0\u7684\u80fd\u529b\uff0c\u5c3d\u7ba1\u5176\u4ecd\u5728\u5c1d\u8bd5\u76f4\u63a5\u82af\u7247\u5f00\u53d1\u3002<br>  <\/li>\n\n\n\n<li><strong>2026\u5e74\u7b2c\u4e00\u5b63\u5ea6\u6536\u76ca\u56de\u987e\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f11.8%\uff0c\u8fbe\u523010.5\u4ebf\u7f8e\u5143\uff0c\u4f4e\u4e8e\u9884\u671f1000\u4e07\u7f8e\u5143\u3002\u975eGAAP\u6bcf\u80a1\u6536\u76ca\u4e3a0.35\u7f8e\u5143\uff0c\u4e0e\u9884\u671f\u4e00\u81f4\u3002ARM\u9884\u8ba1\u7b2c\u4e8c\u5b63\u5ea6\u6536\u5165\u5c06\u572810.1\u4ebf\u7f8e\u5143\u81f311.1\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u4e0e\u5206\u6790\u5e08\u9884\u671f\u768410.5\u4ebf\u7f8e\u5143\u76f8\u7b26\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\/08\/a-blue-and-white-rectangular-object-with-numbers-47.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-74951\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-47.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-47-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-35.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74952\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-35.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-35-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-35-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-35-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-35-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\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<p class=\"wp-block-paragraph\">\n   \n<a id=\"post-74893-_Hlt181111973\"><\/a><a id=\"post-74893-_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-74893-_va9jaog5jnw3\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-28.png\" class=\"wp-image-74953\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-28.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-28-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<figure class=\"wp-block-image\" id=\"td\"><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-29.png\" alt=\"\" class=\"wp-image-74954\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-29.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-29-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Add Yankuang Energy Group Co Ltd (1171 HK) at HK$9.20.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"613\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-30.png\" alt=\"\" class=\"wp-image-74955\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-30.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-30-300x195.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74893-30-768x499.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","protected":false},"excerpt":{"rendered":"<p>\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f (Source: Bloomberg) \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df (Source: Bloomberg) \u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba (Source: Bloomberg) \u5156\u77ff\u80fd\u6e90 (1171 HK)\uff1aRebounding coal prices \u52a8\u529b\u7164\u4ef7\u683c (Source: Bloomberg) (Source: Bloomberg) Nebius Group NV (NBIS US): \u63d0\u9ad8\u6ee1\u8db3\u9700\u6c42\u7684\u80fd\u529b (Source: Bloomberg) Arm Holdings Plc (ARM US): \u63d0\u9ad8\u589e\u957f\u96c4\u5fc3 [&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-74893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kgi-daily-trading-ideas-chinese"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u626c\u5b50\u6c5f\u8239\u4e1a\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a128.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u4e0b\u964d1.3%\u3002\u51c0\u5229\u6da6\u4e3a41.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u6fc0\u589e36.7%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a30.6\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u5728\u4e0a\u534a\u5e74\uff0c\u96c6\u56e2\u83b7\u5f97\u4e86\u603b\u989d\u4e3a5.372\u4ebf\u7f8e\u5143\uff086.9\u4ebf\u65b0\u52a0\u5761\u5143\uff09\u768414\u8258\u8239\u8236\u5408\u540c\uff0c\u5176\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u63d0\u5347\u4e86\u96c6\u56e2\u7684\u603b\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u81f3232\u4ebf\u7f8e\u5143\uff0c\u8ba1\u5212\u4e8e2029\u5e74\u53ca\u4ee5\u540e\u4ea4\u4ed8\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba 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2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u5c3d\u7ba12025\u8d22\u5e74\u4e0b\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d2.6%\uff0c\u964d\u81f33.08\u4ebf\u65b0\u5143\uff08\u53bb\u5e74\u4e3a3.163\u4ebf\u65b0\u5143\uff09\uff0c\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62a5\u544a\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\u30022025\u8d22\u5e74\u6536\u5165\u4e3a13\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\u3002\u8c03\u6574\u540e\u7684\u5e74\u5ea6\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u52306.095\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u53d7\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u4ea4\u6613\u91cf\u589e\u52a0\u7684\u63a8\u52a8\u3002SGX\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a10.5\u5206\uff0c\u6bd4\u53bb\u5e749\u5206\u6709\u6240\u4e0a\u5347\uff0c\u5e76\u8ba1\u5212\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u589e\u52a00.25\u5206\u7684\u80a1\u606f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.84\uff0c\u76ee\u6807\u4ef7\uff1a3.14\uff0c\u6b62\u635f\u4ef7\uff1a2.69 \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8\u5efa\u9020\u5404\u79cd\u8239\u53ea\u3002\u516c\u53f8\u751f\u4ea7\u591a\u79cd\u5546\u7528\u8239\u8236\uff0c\u5305\u62ec\u5c0f\u578b\u6563\u8d27\u8239\u3001\u591a\u7528\u9014\u8d27\u8239\u3001\u96c6\u88c5\u7bb1\u8239\u3001\u5316\u5b66\u54c1\u6cb9\u8f6e\u3001\u6d77\u4e0a\u4f9b\u5e94\u8239\u3001\u6551\u63f4\u548c\u6253\u635e\u8239\u4ee5\u53ca\u8d77\u91cd\u8239\u3002 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u626c\u5b50\u6c5f\u8239\u4e1a\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a128.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u4e0b\u964d1.3%\u3002\u51c0\u5229\u6da6\u4e3a41.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u6fc0\u589e36.7%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a30.6\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u5728\u4e0a\u534a\u5e74\uff0c\u96c6\u56e2\u83b7\u5f97\u4e86\u603b\u989d\u4e3a5.372\u4ebf\u7f8e\u5143\uff086.9\u4ebf\u65b0\u52a0\u5761\u5143\uff09\u768414\u8258\u8239\u8236\u5408\u540c\uff0c\u5176\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u63d0\u5347\u4e86\u96c6\u56e2\u7684\u603b\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u81f3232\u4ebf\u7f8e\u5143\uff0c\u8ba1\u5212\u4e8e2029\u5e74\u53ca\u4ee5\u540e\u4ea4\u4ed8\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a38.5\uff0c\u76ee\u6807\u4ef7\uff1a43.5\uff0c\u6b62\u635f\u4ef7\uff1a36.0 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25\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u300225\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u589e\u957f1.10%\u81f3369\u4ebf\u4eba\u6c11\u5e01\uff0c\u800c24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a365\u4ebf\u4eba\u6c11\u5e01\u3002\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u5229\u6da6\u4ece24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846.104\u4ebf\u4eba\u6c11\u5e01\u589e\u957f1.92%\u81f325\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846.221\u4ebf\u4eba\u6c11\u5e01\u3002\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4ece24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u6bcf\u80a10.27\u4eba\u6c11\u5e01\u589e\u81f325\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u6bcf\u80a10.28\u4eba\u6c11\u5e01\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u5156\u77ff\u80fd\u6e90 (1171\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-25-aug-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=\"2025-08-25T00:38:27+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-08-25T00:38:27+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\u5e748\u670825\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 \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1 \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u65b0\u52a0\u5761\u7684\u8bc1\u5238\u548c\u884d\u751f\u54c1\u4ea4\u6613\u6240\u53ca\u5176\u76f8\u5173\u6e05\u7b97\u6240\u3002\u516c\u53f8\u8fd8\u4e3a\u91d1\u878d\u884c\u4e1a\u7684\u53c2\u4e0e\u8005\u63d0\u4f9b\u8f85\u52a9\u8bc1\u5238\u5904\u7406\u548c\u4fe1\u606f\u6280\u672f\u670d\u52a1\u3002 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.84\uff0c\u76ee\u6807\u4ef7\uff1a3.14\uff0c\u6b62\u635f\u4ef7\uff1a2.69 \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8\u5efa\u9020\u5404\u79cd\u8239\u53ea\u3002\u516c\u53f8\u751f\u4ea7\u591a\u79cd\u5546\u7528\u8239\u8236\uff0c\u5305\u62ec\u5c0f\u578b\u6563\u8d27\u8239\u3001\u591a\u7528\u9014\u8d27\u8239\u3001\u96c6\u88c5\u7bb1\u8239\u3001\u5316\u5b66\u54c1\u6cb9\u8f6e\u3001\u6d77\u4e0a\u4f9b\u5e94\u8239\u3001\u6551\u63f4\u548c\u6253\u635e\u8239\u4ee5\u53ca\u8d77\u91cd\u8239\u3002 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u626c\u5b50\u6c5f\u8239\u4e1a\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a128.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u4e0b\u964d1.3%\u3002\u51c0\u5229\u6da6\u4e3a41.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u6fc0\u589e36.7%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a30.6\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u5728\u4e0a\u534a\u5e74\uff0c\u96c6\u56e2\u83b7\u5f97\u4e86\u603b\u989d\u4e3a5.372\u4ebf\u7f8e\u5143\uff086.9\u4ebf\u65b0\u52a0\u5761\u5143\uff09\u768414\u8258\u8239\u8236\u5408\u540c\uff0c\u5176\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u63d0\u5347\u4e86\u96c6\u56e2\u7684\u603b\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u81f3232\u4ebf\u7f8e\u5143\uff0c\u8ba1\u5212\u4e8e2029\u5e74\u53ca\u4ee5\u540e\u4ea4\u4ed8\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.84\uff0c\u76ee\u6807\u4ef7\uff1a3.14\uff0c\u6b62\u635f\u4ef7\uff1a2.69 \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8\u5efa\u9020\u5404\u79cd\u8239\u53ea\u3002\u516c\u53f8\u751f\u4ea7\u591a\u79cd\u5546\u7528\u8239\u8236\uff0c\u5305\u62ec\u5c0f\u578b\u6563\u8d27\u8239\u3001\u591a\u7528\u9014\u8d27\u8239\u3001\u96c6\u88c5\u7bb1\u8239\u3001\u5316\u5b66\u54c1\u6cb9\u8f6e\u3001\u6d77\u4e0a\u4f9b\u5e94\u8239\u3001\u6551\u63f4\u548c\u6253\u635e\u8239\u4ee5\u53ca\u8d77\u91cd\u8239\u3002 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u626c\u5b50\u6c5f\u8239\u4e1a\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a128.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u4e0b\u964d1.3%\u3002\u51c0\u5229\u6da6\u4e3a41.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u6fc0\u589e36.7%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a30.6\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u5728\u4e0a\u534a\u5e74\uff0c\u96c6\u56e2\u83b7\u5f97\u4e86\u603b\u989d\u4e3a5.372\u4ebf\u7f8e\u5143\uff086.9\u4ebf\u65b0\u52a0\u5761\u5143\uff09\u768414\u8258\u8239\u8236\u5408\u540c\uff0c\u5176\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u63d0\u5347\u4e86\u96c6\u56e2\u7684\u603b\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u81f3232\u4ebf\u7f8e\u5143\uff0c\u8ba1\u5212\u4e8e2029\u5e74\u53ca\u4ee5\u540e\u4ea4\u4ed8\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.84\uff0c\u76ee\u6807\u4ef7\uff1a3.14\uff0c\u6b62\u635f\u4ef7\uff1a2.69 \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8\u5efa\u9020\u5404\u79cd\u8239\u53ea\u3002\u516c\u53f8\u751f\u4ea7\u591a\u79cd\u5546\u7528\u8239\u8236\uff0c\u5305\u62ec\u5c0f\u578b\u6563\u8d27\u8239\u3001\u591a\u7528\u9014\u8d27\u8239\u3001\u96c6\u88c5\u7bb1\u8239\u3001\u5316\u5b66\u54c1\u6cb9\u8f6e\u3001\u6d77\u4e0a\u4f9b\u5e94\u8239\u3001\u6551\u63f4\u548c\u6253\u635e\u8239\u4ee5\u53ca\u8d77\u91cd\u8239\u3002 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u626c\u5b50\u6c5f\u8239\u4e1a\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a128.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u4e0b\u964d1.3%\u3002\u51c0\u5229\u6da6\u4e3a41.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u6fc0\u589e36.7%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a30.6\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u5728\u4e0a\u534a\u5e74\uff0c\u96c6\u56e2\u83b7\u5f97\u4e86\u603b\u989d\u4e3a5.372\u4ebf\u7f8e\u5143\uff086.9\u4ebf\u65b0\u52a0\u5761\u5143\uff09\u768414\u8258\u8239\u8236\u5408\u540c\uff0c\u5176\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u63d0\u5347\u4e86\u96c6\u56e2\u7684\u603b\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u81f3232\u4ebf\u7f8e\u5143\uff0c\u8ba1\u5212\u4e8e2029\u5e74\u53ca\u4ee5\u540e\u4ea4\u4ed8\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.84\uff0c\u76ee\u6807\u4ef7\uff1a3.14\uff0c\u6b62\u635f\u4ef7\uff1a2.69 \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8\u5efa\u9020\u5404\u79cd\u8239\u53ea\u3002\u516c\u53f8\u751f\u4ea7\u591a\u79cd\u5546\u7528\u8239\u8236\uff0c\u5305\u62ec\u5c0f\u578b\u6563\u8d27\u8239\u3001\u591a\u7528\u9014\u8d27\u8239\u3001\u96c6\u88c5\u7bb1\u8239\u3001\u5316\u5b66\u54c1\u6cb9\u8f6e\u3001\u6d77\u4e0a\u4f9b\u5e94\u8239\u3001\u6551\u63f4\u548c\u6253\u635e\u8239\u4ee5\u53ca\u8d77\u91cd\u8239\u3002 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u626c\u5b50\u6c5f\u8239\u4e1a\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a128.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u4e0b\u964d1.3%\u3002\u51c0\u5229\u6da6\u4e3a41.8\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6bd4\u6fc0\u589e36.7%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a30.6\u4ebf\u5143\u4eba\u6c11\u5e01\u3002\u5728\u4e0a\u534a\u5e74\uff0c\u96c6\u56e2\u83b7\u5f97\u4e86\u603b\u989d\u4e3a5.372\u4ebf\u7f8e\u5143\uff086.9\u4ebf\u65b0\u52a0\u5761\u5143\uff09\u768414\u8258\u8239\u8236\u5408\u540c\uff0c\u5176\u4e2d\u7ea685%\u4e3a\u96c6\u88c5\u7bb1\u8239\uff0c\u63d0\u5347\u4e86\u96c6\u56e2\u7684\u603b\u672a\u5b8c\u6210\u8ba2\u5355\u7c3f\u81f3232\u4ebf\u7f8e\u5143\uff0c\u8ba1\u5212\u4e8e2029\u5e74\u53ca\u4ee5\u540e\u4ea4\u4ed8\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u6bd4\u4e9a\u8fea\u7535\u5b50(\u56fd\u9645) (285 HK)\uff1a\u95f4\u63a5\u53d7\u76ca\u4eba 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25\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u300225\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u589e\u957f1.10%\u81f3369\u4ebf\u4eba\u6c11\u5e01\uff0c\u800c24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a365\u4ebf\u4eba\u6c11\u5e01\u3002\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u5229\u6da6\u4ece24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846.104\u4ebf\u4eba\u6c11\u5e01\u589e\u957f1.92%\u81f325\u5e74\u7b2c\u4e00\u5b63\u5ea6\u76846.221\u4ebf\u4eba\u6c11\u5e01\u3002\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u4ece24\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u6bcf\u80a10.27\u4eba\u6c11\u5e01\u589e\u81f325\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u6bcf\u80a10.28\u4eba\u6c11\u5e01\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u5156\u77ff\u80fd\u6e90 (1171","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-25-aug-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":"2025-08-25T00:38:27+00:00","article:modified_time":"2025-08-25T00:38:27+00:00","twitter:card":"summary","twitter:title":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e748\u670825\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 \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8 (YZJSGD SP): \u8fce\u63a5\u6ce2\u52a8\u7684\u6c34\u57df \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a2.84\uff0c\u76ee\u6807\u4ef7\uff1a3.14\uff0c\u6b62\u635f\u4ef7\uff1a2.69 \u626c\u5b50\u6c5f\u8239\u4e1a\u63a7\u80a1\u6709\u9650\u516c\u53f8\u5efa\u9020\u5404\u79cd\u8239\u53ea\u3002\u516c\u53f8\u751f\u4ea7\u591a\u79cd\u5546\u7528\u8239\u8236\uff0c\u5305\u62ec\u5c0f\u578b\u6563\u8d27\u8239\u3001\u591a\u7528\u9014\u8d27\u8239\u3001\u96c6\u88c5\u7bb1\u8239\u3001\u5316\u5b66\u54c1\u6cb9\u8f6e\u3001\u6d77\u4e0a\u4f9b\u5e94\u8239\u3001\u6551\u63f4\u548c\u6253\u635e\u8239\u4ee5\u53ca\u8d77\u91cd\u8239\u3002 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