{"id":77358,"date":"2025-09-22T09:56:46","date_gmt":"2025-09-22T01:56:46","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=77358"},"modified":"2025-09-22T10:11:20","modified_gmt":"2025-09-22T02:11:20","slug":"kgi-daily-trading-ideas-22-sep-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-22-sep-2025-zh\/","title":{"rendered":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e749\u670822\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-77000-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1631\" height=\"785\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-screen-ai-generated-co-16.png\" alt=\"A screenshot of a computer screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-77422\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-screen-ai-generated-co-16.png 1631w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-screen-ai-generated-co-16-300x144.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-screen-ai-generated-co-16-1024x493.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-screen-ai-generated-co-16-768x370.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-screen-ai-generated-co-16-1536x739.png 1536w\" sizes=\"(max-width: 1631px) 100vw, 1631px\" \/><\/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\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-6.png\" alt=\"A screen shot of a chart\n\nAI-generated content may be incorrect.\" class=\"wp-image-77423\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-6.png 1071w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-6-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-6-1024x262.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-6-768x196.png 768w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"915\" height=\"282\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-7.png\" alt=\"A screen shot of a chart\n\nAI-generated content may be incorrect.\" class=\"wp-image-77424\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-7.png 915w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-7-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screen-shot-of-a-chart-ai-generated-content-may-7-768x237.png 768w\" sizes=\"(max-width: 915px) 100vw, 915px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-4.png\" alt=\"\" class=\"wp-image-77425\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-4-300x64.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-77358-_qqv3rtx8nazp\"><\/a><a id=\"post-77358-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2208\" height=\"1053\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-ai-generated-content-m-25.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-77426\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-ai-generated-content-m-25.png 2208w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-ai-generated-content-m-25-300x143.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-ai-generated-content-m-25-1024x488.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-ai-generated-content-m-25-768x366.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-ai-generated-content-m-25-1536x733.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-computer-ai-generated-content-m-25-2048x977.png 2048w\" sizes=\"(max-width: 2208px) 100vw, 2208px\" \/><\/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\/09\/word-image-77358-6.png\" alt=\"\" class=\"wp-image-77427\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-6-300x64.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\" class=\"wp-image-77428\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-7.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">AEM Holdings Ltd. 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\u7684\u5ba2\u6237\u904d\u5e03\u5168\u7403\u3002<\/li>\n\n\n\n<li><strong>\u53d7\u76ca\u4e8e\u82f1\u4f1f\u8fbe\u5bf9\u82f1\u7279\u5c14\u7684\u6295\u8d44\u3002<\/strong>\u82f1\u4f1f\u8fbe\u5ba3\u5e03\u5411\u82f1\u7279\u5c14\u6295\u8d4450\u4ebf\u7f8e\u5143\uff0c\u5e76\u5efa\u7acb\u65b0\u7684\u4ea7\u54c1\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u8fd9\u6807\u5fd7\u7740\u82f1\u7279\u5c14\u8f6c\u578b\u6218\u7565\u7684\u6700\u65b0\u8fdb\u5c55\u3002\u6839\u636e\u534f\u8bae\uff0c\u82f1\u7279\u5c14\u5c06\u8bbe\u8ba1\u5b9a\u5236CPU\uff08\u4ece\u667a\u80fd\u624b\u673a\u3001\u7b14\u8bb0\u672c\u7535\u8111\u5230\u6c7d\u8f66\u7b49\u5404\u79cd\u8bbe\u5907\u7684\u4e2d\u592e\u5904\u7406\u5668\uff09\uff0c\u8fd9\u4e9bCPU\u5c06\u4e0e\u82f1\u4f1f\u8fbe\u7684\u82af\u7247\u548c\u7cfb\u7edf\u5728\u6570\u636e\u4e2d\u5fc3\u548c\u4e2a\u4eba\u7535\u8111\u9886\u57df\u5b9e\u73b0\u65e0\u7f1d\u96c6\u6210\u3002\u7531\u4e8e\u82f1\u7279\u5c14\u662fAEM\u7684\u957f\u671f\u5ba2\u6237\uff0c\u6b64\u6b21\u5408\u4f5c\u9884\u8ba1\u5c06\u901a\u8fc7\u589e\u52a0\u9700\u6c42\u548c\u6269\u5927\u4ea7\u54c1\u673a\u4f1a\uff0c\u4e3aAEM\u5e26\u6765\u95f4\u63a5\u5229\u76ca\u3002<\/li>\n\n\n\n<li><strong>\u6df1\u5316\u4e0e\u82f1\u7279\u5c14\u7684\u5408\u4f5c\u5173\u7cfb\u3002<\/strong>\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0cAEM Holdings Ltd. \u5ba3\u5e03\u4e0e\u82f1\u7279\u5c14\u4ee3\u5de5\u670d\u52a1\uff08Intel Foundry\uff09\u5408\u4f5c\uff0c\u4ee5\u6269\u5927\u5176\u6210\u719f\u7684SLT\uff08\u7cfb\u7edf\u7ea7\u6d4b\u8bd5\uff09\u548c\u70e7\u673a\uff08Burn-In\uff09\u6d4b\u8bd5\u751f\u6001\u7cfb\u7edf\u5728\u5148\u8fdb\u8ba1\u7b97\u8bbe\u5907\u9886\u57df\u7684\u5e94\u7528\u3002\u8be5\u8ba1\u5212\u65e8\u5728\u901a\u8fc7\u63d0\u4f9b\u5168\u9762\u7684\u96c6\u6210\u6d4b\u8bd5\u89e3\u51b3\u65b9\u6848\uff08\u5305\u62ec\u9488\u5bf9\u7279\u5b9a\u8bbe\u5907\u7684\u53ef\u914d\u7f6e\u6d4b\u8bd5\u5355\u5143\u548c\u5148\u8fdb\u7684\u70ed\u63a7\u5236\uff09\uff0c\u6765\u5e2e\u52a9\u65e0\u6676\u5706\u5382\u5ba2\u6237\u52a0\u5feb\u4ea7\u54c1\u4e0a\u5e02\u65f6\u95f4\u3002\u4e3b\u8981\u4f18\u52bf\u5305\u62ec\u66f4\u5feb\u7684\u5546\u4e1a\u5316\u8fdb\u7a0b\u3001\u66f4\u4f4e\u7684\u8d44\u672c\u652f\u51fa\uff0c\u4ee5\u53ca\u8fdb\u5165\u7f8e\u56fd\u672c\u571f\u5de5\u7a0b\u548c\u751f\u4ea7\u751f\u6001\u7cfb\u7edf\u7684\u673a\u4f1a\u3002\u6b64\u6b21\u5408\u4f5c\u4e0d\u4ec5\u5de9\u56fa\u4e86AEM\u7684\u884c\u4e1a\u5730\u4f4d\uff0c\u8fd8\u63d0\u5347\u4e86\u5176\u5bf9\u5229\u76ca\u76f8\u5173\u8005\u7684\u6218\u7565\u4ef7\u503c\u3002<\/li>\n\n\n\n<li><strong>\u8fdb\u51652025\u5e74\u4e0b\u534a\u5e74\u7684\u589e\u957f\u52bf\u5934\u3002<\/strong>2025\u5e74\u4e0a\u534a\u5e74\uff0cAEM\u7684\u9500\u552e\u989d\u56e0\u5176\u6700\u5927\u5ba2\u6237\u7684\u8ba2\u5355\u589e\u52a0\u4ee5\u53ca\u5176\u4ed6\u5ba2\u6237\u7684\u8ba2\u5355\u63d0\u524d\u800c\u589e\u957f\u3002\u5176\u4e2d\u4e00\u4e2a\u4e3b\u8981\u8d21\u732e\u56e0\u7d20\u662f\u5176\u65b0\u578b\u534a\u5bfc\u4f53\u6d4b\u8bd5\u4eeaAMPS-BI\u7684\u6210\u529f\u91cf\u4ea7\u3002\u65b0\u4e0a\u4efb\u7684\u9996\u5e2d\u6267\u884c\u5b98\u5f3a\u8c03\u4e86\u79ef\u6781\u7684\u524d\u666f\uff0c\u6307\u51fa\u516c\u53f8\u7684\u4e0b\u4e00\u4ee3\u6d4b\u8bd5\u6280\u672f\u73b0\u5df2\u51c6\u5907\u597d\u8fdb\u884c\u5927\u89c4\u6a21\u91cf\u4ea7\u3002\u8fd9\u4f7f\u5f97AEM\u5728\u4e0e\u5ba2\u6237\u5408\u4f5c\u5e94\u5bf9\u5176\u6700\u5173\u952e\u6311\u6218\u65f6\uff0c\u4e3a\u4e0b\u4e00\u9636\u6bb5\u7684\u6267\u884c\u548c\u6269\u5f20\u505a\u597d\u4e86\u51c6\u5907\u3002\u5c3d\u7ba1\u7531\u4e8e\u5168\u7403\u8d38\u6613\u4e0d\u786e\u5b9a\u6027\uff0c\u5408\u540c\u5236\u9020\u4e1a\u52a1\u9700\u6c42\u6709\u6240\u653e\u7f13\uff0c\u4f46AEM\u7684\u6838\u5fc3\u6d4b\u8bd5\u5355\u5143\u89e3\u51b3\u65b9\u6848\u4ecd\u7136\u662f\u672a\u6765\u589e\u957f\u7684\u5f3a\u5927\u9a71\u52a8\u529b\u3002<\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u3002<\/strong>2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u589e\u957f9.6%\u81f31.9\u4ebf\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a1.736\u4ebf\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u589e\u957f284%\u81f3316\u4e07\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a82\u4e07\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f30.98\u65b0\u5206\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a0.29\u65b0\u5206\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-77429\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-8.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-8.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-8-300x64.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=\"1260\" height=\"574\" class=\"wp-image-77430\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-9.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-9.png 1260w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-9-300x137.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-9-1024x466.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-9-768x350.png 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/> (Source: Bloomberg)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"752\" height=\"160\" class=\"wp-image-77431\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-long-line-of-a-white-background-description-aut-20.jpeg\" alt=\"A long line of a white background\n\nDescription automatically generated with medium confidence\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-long-line-of-a-white-background-description-aut-20.jpeg 752w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-long-line-of-a-white-background-description-aut-20-300x64.jpeg 300w\" sizes=\"(max-width: 752px) 100vw, 752px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">\u9999\u6e2f\u7f6e\u5730 (HKL SP): \u5728\u964d\u606f\u73af\u5883\u4e2d\u7684\u6295\u8d44\u7ec4\u5408\u91cd\u65b0\u5b9a\u4f4d<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a6.70\uff0c\u76ee\u6807\u4ef7\uff1a7.50\uff0c\u6b62\u635f\u4ef7\uff1a6.30<\/strong><\/li>\n\n\n\n<li>\u9999\u6e2f\u7f6e\u5730\u662f\u4e00\u5bb6\u4e3b\u8981\u7684\u4e0a\u5e02\u623f\u5730\u4ea7\u6295\u8d44\u3001\u7ba1\u7406\u548c\u5f00\u53d1\u96c6\u56e2\u3002\u8be5\u96c6\u56e2\u5728\u9999\u6e2f\u3001\u65b0\u52a0\u5761\u3001\u5317\u4eac\u548c\u96c5\u52a0\u8fbe\u7b49\u4e3b\u8981\u4e9a\u6d32\u57ce\u5e02\u62e5\u6709\u5e76\u7ba1\u7406\u8d85\u8fc7850,000\u5e73\u65b9\u7c73\u7684\u4f18\u8d28\u5199\u5b57\u697c\u548c\u5962\u4f88\u96f6\u552e\u7269\u4e1a\u3002\u96c6\u56e2\u8fd8\u5728\u4e2d\u56fd\u548c\u4e1c\u5357\u4e9a\u7684\u591a\u4e2a\u57ce\u5e02\u5f00\u53d1\u4e00\u7cfb\u5217\u9ad8\u54c1\u8d28\u7684\u4f4f\u5b85\u3001\u5546\u4e1a\u548c\u6df7\u5408\u7528\u9014\u9879\u76ee\uff0c\u5305\u62ec\u5728\u4e0a\u6d77\u897f\u5cb8\u7684\u4e00\u4e2a110\u4e07\u5e73\u65b9\u7c73\u6df7\u5408\u7528\u9014\u9879\u76ee\u4e2d\u6301\u670943%\u7684\u80a1\u4efd\u3002<\/li>\n\n\n\n<li><strong>\u8d44\u672c\u56de\u6536\u4e0e\u8f6c\u578b\u4e3a\u57fa\u91d1\u7ba1\u7406\u3002<\/strong>\u9999\u6e2f\u7f6e\u5730\u6b63\u4ece\u5efa\u9020\u9500\u552e\u6a21\u5f0f\u8f6c\u578b\u4e3a\u8d44\u672c\u56de\u6536\u548c\u57fa\u91d1\u7ba1\u7406\u6a21\u5f0f\uff0c\u76ee\u6807\u52302035\u5e74\u5b9e\u73b0\u9ad8\u8fbe100\u4ebf\u7f8e\u5143\u7684\u8d44\u672c\u56de\u6536\uff0c\u5176\u4e2d\u5305\u62ec60\u4ebf\u7f8e\u5143\u6765\u81ea\u5f00\u53d1\u9879\u76ee\u7684\u7ed3\u675f\u548c40\u4ebf\u7f8e\u5143\u6765\u81ea\u6295\u8d44\u7269\u4e1a\u7684\u51fa\u552e\u3002\u6700\u8fd1\u4ee57.387\u4ebf\u65b0\u5143\u5c06MCL Land\u51fa\u552e\u7ed9\u9a6c\u6765\u897f\u4e9a\u7684\u53cc\u5a01\u96c6\u56e2\uff0c\u4f53\u73b0\u4e86\u8fd9\u4e00\u6218\u7565\u7684\u5b9e\u65bd\uff0c\u4ece\u975e\u6838\u5fc3\u4f4f\u5b85\u5f00\u53d1\u4e2d\u91ca\u653e\u8d44\u672c\uff0c\u5e76\u5c06\u5176\u91cd\u65b0\u6295\u5165\u5230\u4e9a\u6d32\u95e8\u6237\u57ce\u5e02\u7684\u8d85\u9ad8\u7aef\u7efc\u5408\u5546\u4e1a\u8d44\u4ea7\u4e2d\u3002\u6240\u5f97\u8d44\u91d1\u5c06\u7528\u4e8e\u6269\u5927\u7b2c\u4e09\u65b9\u8d44\u672c\u5e76\u63d0\u5347\u7ecf\u5e38\u6027\u6536\u5165\uff0c\u7ba1\u7406\u5c42\u8ba1\u5212\u5c06\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\u4ece400\u4ebf\u7f8e\u5143\u6269\u5927\u5230\u9ad8\u8fbe1000\u4ebf\u7f8e\u5143\uff0c\u540c\u65f6\u5c06\u7a0e\u524d\u5229\u6da6\u548c\u6bcf\u80a1\u5206\u7ea2\u53cc\u500d\u589e\u957f\u3002\u8fd9\u4e9b\u4e3e\u63aa\u4e0e\u9999\u6e2f\u7f6e\u5730\u7684\u6838\u5fc3\u7ade\u4e89\u529b\u76f8\u4e00\u81f4\uff0c\u589e\u5f3a\u5176\u957f\u671f\u76c8\u5229\u7684\u53ef\u89c1\u6027\u3002<\/li>\n\n\n\n<li><strong>\u53d7\u76ca\u4e8e\u964d\u606f\u7684\u8d44\u4ea7\u53d8\u73b0\u3002<\/strong>\u6700\u8fd1\u7f8e\u8054\u50a8\u964d\u606f25\u4e2a\u57fa\u70b9\u53ef\u80fd\u4f1a\u652f\u6301\u6295\u8d44\u8005\u60c5\u7eea\uff0c\u5e76\u6539\u5584\u8d44\u4ea7\u53d8\u73b0\u7684\u80cc\u666f\u3002\u9999\u6e2f\u7f6e\u5730\u5df2\u901a\u8fc763\u4ebf\u6e2f\u5143\u51fa\u552e\u4ea4\u6613\u5e7f\u573a\uff0c\u8fbe\u6210\u4e86\u517640\u4ebf\u7f8e\u51432027\u5e74\u56de\u6536\u76ee\u6807\u768430%\u3002\u516c\u53f8\u6b63\u5728\u8bc4\u4f30\u5916\u90e8\u5316\u5de5\u5177\uff0c\u5982\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u57fa\u91d1\uff08REITs\uff09\u6216\u79c1\u52df\u57fa\u91d1\uff0c\u4ee5\u5728\u4fdd\u7559\u7ba1\u7406\u63a7\u5236\u6743\u7684\u60c5\u51b5\u4e0b\u8fdb\u884c\u8d44\u4ea7\u56de\u6536\u3002\u6f5c\u5728\u7684\u5265\u79bb\uff0c\u5305\u62ec\u5728MBFC\u548cOne Raffles Quay\u7684\u8fdb\u4e00\u6b65\u90e8\u5206\u80a1\u4efd\uff0c\u53ef\u80fd\u4f1a\u89e3\u9501\u4ef7\u503c\uff0c\u589e\u5f3a\u8d22\u52a1\u7075\u6d3b\u6027\uff0c\u5e76\u652f\u6301\u6539\u5584\u80a1\u4e1c\u56de\u62a5\u3002MCL Land\u7684\u51fa\u552e\u8fdb\u4e00\u6b65\u4f53\u73b0\u4e86\u7ba1\u7406\u5c42\u5728\u6267\u884c\u56de\u6536\u8def\u7ebf\u56fe\u4e0a\u7684\u7eaa\u5f8b\uff0c\u540c\u65f6\u52a0\u5f3a\u4e86\u96c6\u56e2\u5bf9\u957f\u671f\u80a1\u4e1c\u4ef7\u503c\u521b\u9020\u7684\u627f\u8bfa\u3002<\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u52a1\u66f4\u65b0\u3002<\/strong>\u9999\u6e2f\u7f6e\u5730\u5b9e\u73b0\u76c8\u5229\uff0c\u5411\u80a1\u4e1c\u4ea4\u4ed82.21\u4ebf\u7f8e\u5143\u7684\u5229\u6da6\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u5219\u4e8f\u635f8. 33\u4ebf\u7f8e\u5143\u3002\u5176\u4e2d\u671f\u6bcf\u80a1\u5206\u7ea2\u4fdd\u6301\u57280.06\u7f8e\u5143\uff0c\u4e0e\u53bb\u5e74\u6301\u5e73\u3002\u5bf9\u4e8e2025\u5e74\u4e0b\u534a\u5e74\uff0c\u96c6\u56e2\u9884\u8ba1\u8d21\u732e\u5c06\u53d7\u5230\u9999\u6e2f\u529e\u516c\u79df\u91d1\u4e0b\u6ed1\u548cLANDMARK\u6301\u7eed\u7ffb\u65b0\u5f71\u54cd\u3002<\/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-77432\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-white-tex-15.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\/09\/a-blue-and-white-rectangular-object-with-white-tex-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-white-tex-15-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><img loading=\"lazy\" decoding=\"async\" width=\"1260\" height=\"574\" class=\"wp-image-77433\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-33.png\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-33.png 1260w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-33-300x137.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-33-1024x466.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-33-768x350.png 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/> (Source: Bloomberg)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-77434\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-13.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-13-300x64.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\" class=\"wp-image-77435\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-14.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><a id=\"post-77358-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">\u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u5373\u5c06\u5230\u6765\u7684\u9ec4\u91d1\u5468\u5e26\u6765\u7684\u63d0\u632f<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5<\/strong><\/li>\n\n\n\n<li>\u91d1\u6c99\u5c9b\u4e2d\u56fd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u5728\u6fb3\u95e8\u4ece\u4e8b\u5f00\u53d1\u53ca\u7ecf\u8425\u7efc\u5408\u5ea6\u5047\u6751\u4e1a\u52a1\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u7ecf\u8425\u591a\u5730\u4e1a\u52a1\uff0c\u5305\u62ec\u535a\u5f69\u533a\u3001\u4f1a\u8bae\u573a\u5730\u3001\u8fdb\u884c\u5927\u578b\u4f1a\u8bae\u53ca\u5c55\u89c8\u7684\u4f1a\u5802\u3001\u96f6\u552e\u53ca\u9910\u996e\u5730\u70b9\u548c\u6587\u5a31\u573a\u6240\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u516d\u4e2a\u4e1a\u52a1\u90e8\u95e8\u8fd0\u8425\uff1a\u6fb3\u95e8\u5a01\u5c3c\u65af\u4eba\u90e8\u95e8\u3001\u91d1\u6c99\u57ce\u4e2d\u5fc3\u90e8\u95e8\u3001\u6fb3\u95e8\u767e\u5229\u5bab\u90e8\u95e8\u3001\u6fb3\u95e8\u91d1\u6c99\u90e8\u95e8\u3001\u6e21\u8f6e\u53ca\u5176\u4ed6\u4e1a\u52a1\u90e8\u95e8\u548c\u6fb3\u95e8\u5df4\u9ece\u4eba\u90e8\u95e8\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u5176\u5b50\u516c\u53f8\u8fd8\u4ece\u4e8b\u63d0\u4f9b\u9ad8\u901f\u6e21\u8f6e\u8fd0\u8f93\u670d\u52a1\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u7684\u5b50\u516c\u53f8\u5305\u62ec\u91d1\u5149\u6e21\u8f6e\u6709\u9650\u516c\u53f8\u3001\u516c\u5bd3\u9152\u5e97\uff08\u6fb3\u95e8\uff09\u80a1\u4efd\u6709\u9650\u516c\u53f8\u548c\u5730\u6bb5\u53d1\u5c55\u6709\u9650\u516c\u53f8\u3002<\/li>\n\n\n\n<li><strong>\u4e34\u8fd1\u7684\u9ec4\u91d1\u5468\u5c06\u63d0\u632f\u6fb3\u95e8\u65c5\u6e38\u4e1a\u3002<\/strong>\u4e2d\u56fd\u5373\u5c06\u8fce\u6765\u9ec4\u91d1\u5468\u5047\u671f\uff0c\u8fd9\u662f\u4e2d\u56fd\u6700\u91cd\u8981\u7684\u65c5\u6e38\u65f6\u671f\u4e4b\u4e00\uff0c\u5c06\u4e3a\u6d88\u8d39\u652f\u51fa\u63d0\u4f9b\u53ca\u65f6\u7684\u63d0\u632f\u3002\u4e2d\u56fd\u65c5\u6e38\u8fd0\u8425\u5546\u7684\u65e9\u671f\u9884\u8ba2\u6570\u636e\u663e\u793a\uff0c\u4ece10\u67081\u65e5\u5f00\u59cb\u7684\u4e3a\u671f\u516b\u5929\u7684\u5047\u671f\uff08\u7ed3\u5408\u4e86\u4e2d\u79cb\u8282\u548c\u56fd\u5e86\u8282\uff09\u671f\u95f4\uff0c\u56fd\u5185\u548c\u56fd\u9645\u65c5\u884c\u9700\u6c42\u5f3a\u52b2\u3002\u4e2d\u56fd\u7684\u94c1\u8def\u90e8\u95e8\u4e5f\u5728\u4e3a\u521b\u7eaa\u5f55\u7684\u5ba2\u6d41\u91cf\u505a\u51c6\u5907\uff0c\u8ba1\u5212\u6bcf\u5929\u5f00\u884c\u7ea613,000\u5217\u706b\u8f66\u3002\u5047\u671f\u671f\u95f4\u6070\u9022NBA\u4e2d\u56fd\u8d5b\uff0810\u670810\u65e5\u81f312\u65e5\uff0c\u5728\u5a01\u5c3c\u65af\u4eba\u91d1\u5149\u7efc\u827a\u9986\u4e3e\u884c\uff09\u548c\u738b\u5609\u5c14\u6f14\u5531\u4f1a\uff0810\u670811\u65e5\u81f312\u65e5\uff0c\u5728\u94f6\u6cb3\u7efc\u827a\u9986\u4e3e\u884c\uff09\uff0c\u8fd9\u4e24\u9879\u6d3b\u52a8\u9884\u8ba1\u5c06\u5438\u5f15\u66f4\u591a\u6e38\u5ba2\u524d\u5f80\u6fb3\u95e8\u3002\u65c5\u6e38\u4e1a\u7684\u589e\u957f\u6709\u671b\u8fdb\u4e00\u6b65\u652f\u6301\u91d1\u6c99\u4e2d\u56fd\u7684\u9500\u552e\u589e\u957f\u3002<\/li>\n\n\n\n<li><strong>\u516c\u53f8\u53d7\u6b22\u8fce\u7a0b\u5ea6\u7684\u8bc1\u660e\u3002<\/strong>\u91d1\u6c99\u4e2d\u56fd\u6709\u9650\u516c\u53f8\u8fce\u6765\u4e86\u5176\u5728\u6fb3\u95e8\u7269\u4e1a\u7684\u7b2c11\u4ebf\u540d\u7d2f\u8ba1\u8bbf\u5ba2\uff0c\u6807\u5fd7\u7740\u4e00\u4e2a\u91cd\u8981\u7684\u91cc\u7a0b\u7891\u3002\u8be5\u516c\u53f8\u5728\u6fb3\u95e8\u7684\u7d2f\u8ba1\u6295\u8d44\u5df2\u8d85\u8fc71345\u4ebf\u6fb3\u95e8\u5143\u3002\u5176\u7efc\u5408\u5ea6\u5047\u6751\u73b0\u5728\u63d0\u4f9b\u8d85\u8fc710,000\u95f4\u9152\u5e97\u5ba2\u623f\u3001150\u4e2a\u9910\u996e\u573a\u6240\u548c760\u5bb6\u96f6\u552e\u5546\u5e97\u3002\u8fd9\u4e00\u5386\u7ecf20\u591a\u5e74\u53d1\u5c55\u6240\u53d6\u5f97\u7684\u6210\u5c31\uff0c\u51f8\u663e\u4e86\u91d1\u6c99\u4e2d\u56fd\u65c5\u6e38\u4ea7\u54c1\u7684\u53d7\u6b22\u8fce\u7a0b\u5ea6\uff0c\u4ee5\u53ca\u6fb3\u95e8\u7ecf\u6d4e\u589e\u957f\u7684\u6d3b\u529b\u548c\u53ef\u6301\u7eed\u6027\u3002\u5c55\u671b\u672a\u6765\uff0c\u516c\u53f8\u8ba1\u5212\u7ee7\u7eed\u4e0e\u6fb3\u95e8\u5408\u4f5c\uff0c\u5e76\u6295\u8d44\u4e8e\u975e\u535a\u5f69\u9879\u76ee\uff0c\u4ee5\u8fdb\u4e00\u6b65\u63d0\u5347\u5176\u4f5c\u4e3a\u6fb3\u95e8\u5728\u56fd\u9645\u821e\u53f0\u4e0a\u201c\u91d1\u8272\u540d\u7247\u201d\u7684\u58f0\u8a89\u3002<\/li>\n\n\n\n<li><strong>\u975e\u535a\u5f69\u6d88\u8d39\u589e\u957f\u589e\u5f3a\u7efc\u5408\u5ea6\u5047\u6751\u5438\u5f15\u529b\u3002<\/strong>2025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\uff0c\u6fb3\u95e8\u975e\u535a\u5f69\u6e38\u5ba2\u6d88\u8d39\u8fbe\u523022.6\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f4.6%\uff0c\u5176\u4e2d\u8d2d\u7269\u3001\u4f4f\u5bbf\u548c\u9910\u996e\u4ecd\u7136\u662f\u6700\u5927\u7684\u6d88\u8d39\u7c7b\u522b\u3002\u8fd9\u4e00\u8d8b\u52bf\u51f8\u663e\u4e86\u91d1\u6c99\u4e2d\u56fd\u4f5c\u4e3a\u9886\u5148\u7684\u7efc\u5408\u5ea6\u5047\u6751\u8fd0\u8425\u5546\u7684\u7ade\u4e89\u4f18\u52bf\uff0c\u5176\u62e5\u6709\u5e7f\u6cdb\u7684\u975e\u535a\u5f69\u4ea7\u54c1\uff0c\u4ece\u5962\u4f88\u54c1\u96f6\u552e\u548c\u7c73\u5176\u6797\u661f\u7ea7\u9910\u996e\u5230\u5927\u578b\u6d3b\u52a8\u573a\u9986\u3002\u5c3d\u7ba1\u4eba\u5747\u6d88\u8d39\u540c\u6bd4\u4e0b\u964d\u4e8612.3%\uff0c\u4f46\u6f14\u5531\u4f1a\u89c2\u4f17\u548c\u4f1a\u5c55\uff08MICE\uff09\u53c2\u4e0e\u8005\u7b49\u9ad8\u4ef7\u503c\u7ec6\u5206\u5e02\u573a\u4ecd\u7136\u5229\u6da6\u4e30\u539a\u3002\u91d1\u6c99\u4e2d\u56fd\u901a\u8fc7\u5176\u5a31\u4e50\u8282\u76ee\u3001\u4f1a\u8bae\u8bbe\u65bd\u548c\u591a\u6837\u5316\u7684\u4fbf\u5229\u8bbe\u65bd\u5438\u5f15\u8fd9\u4e9b\u9ad8\u7aef\u5ba2\u6237\u7684\u80fd\u529b\uff0c\u4f7f\u5176\u80fd\u591f\u5f88\u597d\u5730\u6269\u5c55\u535a\u5f69\u4e4b\u5916\u7684\u6536\u5165\u6765\u6e90\u3002<\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u6218\u7565\u8425\u9500\u63d0\u5347\u54c1\u724c\u77e5\u540d\u5ea6\u3002<\/strong>\u91d1\u6c99\u4e2d\u56fd\u6b63\u5728\u901a\u8fc7\u4e0eNBA\u7684\u591a\u5e74\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u6765\u52a0\u5f3a\u5176\u54c1\u724c\u5f71\u54cd\u529b\u3002\u6839\u636e\u534f\u8bae\uff0c\u672a\u6765\u4e94\u5e74\u5185\uff0c\u6bcf\u5e74\u5c06\u5728\u6fb3\u95e8\u5a01\u5c3c\u65af\u4eba\u91d1\u5149\u7efc\u827a\u9986\u4e3e\u529e\u4e24\u573aNBA\u5b63\u524d\u8d5b\u3002\u8be5\u516c\u53f8\u5c06\u4e8e10\u6708\u4e3b\u529e2025\u5e74\u6bd4\u8d5b\uff0c\u5e76\u63a8\u51fa\u4e86\u201c2025\u5e74NBA\u4e2d\u56fd\u8d5b\u4f53\u9a8c\u5957\u9910\u201d\uff0c\u5176\u4e2d\u5305\u62ec\u4f26\u6566\u4eba\u9152\u5e97\u7684\u4e94\u4e2a\u7b49\u7ea7\u7684\u4f4f\u5bbf\u3002\u9876\u7ea7\u5957\u9910\u5305\u62ec\u72ec\u5bb6\u540e\u53f0\u901a\u884c\u8bc1\u548c\u4e0eNBA\u4f20\u5947\u4eba\u7269\u5171\u8fdb\u665a\u9910\u7684\u4f53\u9a8c\u3002\u8fd9\u4e9b\u4e3e\u63aa\u65e8\u5728\u901a\u8fc7\u5229\u7528NBA\u54c1\u724c\u7684\u5168\u7403\u5438\u5f15\u529b\u6765\u589e\u52a0\u6e38\u5ba2\u6d41\u91cf\uff0c\u5e76\u63d0\u5347\u91d1\u6c99\u4e2d\u56fd\u7684\u9152\u5e97\u548c\u96f6\u552e\u4e1a\u7ee9\u3002<\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u7565\u5fae\u4e0b\u964d1.7%\u81f334.9\u4ebf\u7f8e\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a35.5\u4ebf\u7f8e\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d23.7%\u81f34.13\u4ebf\u7f8e\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a5.41\u4ebf\u7f8e\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u7a00\u91ca\u540e\u6bcf\u80a1\u6536\u76ca\u964d\u81f35.10\u7f8e\u5206\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a6.69\u7f8e\u5206\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-77436\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-15.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-15-300x64.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=\"1260\" height=\"574\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-16.png\" alt=\"\" class=\"wp-image-77437\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-16.png 1260w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-16-300x137.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-16-1024x466.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-16-768x350.png 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"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\" class=\"wp-image-77438\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-17.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-17.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-17-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">\u91d1\u98ce\u79d1\u6280 (2208 HK)\uff1a\u652f\u6301\u589e\u957f\u7684\u987a\u98ce\u56e0\u7d20<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a11.50\uff0c\u76ee\u6807\u4ef7\uff1a13.10\uff0c\u6b62\u635f\u4ef7\uff1a10.70<\/strong><\/li>\n\n\n\n<li>\u91d1\u98ce\u79d1\u6280\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u98ce\u673a\u5236\u9020\u3001\u98ce\u7535\u670d\u52a1\u3001\u98ce\u7535\u573a\u6295\u8d44\u4e0e\u5f00\u53d1\u4e1a\u52a1\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u56db\u4e2a\u5206\u90e8\u5f00\u5c55\u4e1a\u52a1\u3002\u98ce\u673a\u5236\u9020\u4e0e\u9500\u552e\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u98ce\u529b\u53d1\u7535\u673a\u7ec4\u53ca\u5176\u96f6\u90e8\u4ef6\u7684\u7814\u53d1\u3001\u5236\u9020\u53ca\u9500\u552e\u3002\u98ce\u7535\u670d\u52a1\u5206\u90e8\u4e3b\u8981\u63d0\u4f9b\u98ce\u7535\u76f8\u5173\u7684\u987e\u95ee\u3001\u98ce\u7535\u573a\u5efa\u8bbe\u3001\u7ef4\u62a4\u548c\u8fd0\u8f93\u670d\u52a1\u3002\u98ce\u7535\u573a\u5f00\u53d1\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u98ce\u7535\u573a\u5f00\u53d1\u548c\u8fd0\u8425\u3002\u5176\u4ed6\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u6c34\u5904\u7406\u5f00\u53d1\u548c\u8fd0\u8425\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u4e2d\u56fd\u56fd\u5185\u548c\u6d77\u5916\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002<\/li>\n\n\n\n<li><strong>\u5185\u8499\u53e4\u542f\u52a8\u65b0\u578b\u7eff\u8272\u5316\u5de5\u5de8\u578b\u9879\u76ee\u3002 <\/strong>\u91d1\u98ce\u79d1\u6280\u5ba3\u5e03\u8ba1\u5212\u5728\u5185\u8499\u53e4\u5df4\u5f66\u6dd6\u5c14\u6295\u8d4427\u4ebf\u7f8e\u5143\uff0c\u5229\u7528\u8be5\u5730\u533a\u4e30\u5bcc\u7684\u98ce\u80fd\u548c\u751f\u7269\u8d28\u8d44\u6e90\uff0c\u5efa\u8bbe\u4e00\u4e2a\u5927\u578b\u7eff\u8272\u5316\u5de5\u7efc\u5408\u4f53\u3002\u6839\u636e\u4e0e\u5f53\u5730\u653f\u5e9c\u8fbe\u6210\u7684\u534f\u8bae\uff0c\u8be5\u9879\u76ee\u5c06\u98ce\u7535\u573a\u4e0e\u5316\u5de5\u751f\u4ea7\u8bbe\u65bd\u76f8\u7ed3\u5408\uff0c\u5c0680%\u4ee5\u4e0a\u7684\u53d1\u7535\u91cf\u7528\u4e8e\u73b0\u573a\u751f\u4ea7\u7eff\u8272\u6c22\u3001\u7532\u9187\u548c\u6c28\u3002\u9879\u76ee\u6295\u4ea7\u540e\uff0c\u9884\u8ba1\u6bcf\u5e74\u53ef\u751f\u4ea7\u7ea660\u4e07\u5428\u7eff\u8272\u7532\u9187\u548c40\u591a\u4e07\u5428\u7eff\u8272\u5408\u6210\u6c28\u3002\u8be5\u9879\u76ee\u51f8\u663e\u4e86\u91d1\u98ce\u79d1\u6280\u4e0e\u4e2d\u56fd\u56fd\u5bb6\u8131\u78b3\u6218\u7565\u7684\u5951\u5408\uff0c\u4ee5\u53ca\u5176\u5728\u80fd\u6e90\u8f6c\u578b\u4e2d\u63a8\u52a8\u6c22\u57fa\u71c3\u6599\u53d1\u5c55\u7684\u51b3\u5fc3\u3002<\/li>\n\n\n\n<li><strong>\u53d7\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u7535\u529b\u9700\u6c42\u6fc0\u589e\uff0c\u4e2d\u56fd\u52a0\u5feb\u53ef\u518d\u751f\u80fd\u6e90\u5efa\u8bbe\u3002 <\/strong>\u4eca\u5e74\uff0c\u4e2d\u56fd\u7684\u7535\u7f51\u9884\u8ba1\u5c06\u65b0\u589e\u521b\u7eaa\u5f55\u7684500\u5409\u74e6\u53ef\u518d\u751f\u80fd\u6e90\u88c5\u673a\u5bb9\u91cf\uff0c\u90e8\u5206\u539f\u56e0\u662f\u4eba\u5de5\u667a\u80fd\u6570\u636e\u4e2d\u5fc3\u4e0d\u65ad\u589e\u957f\u7684\u7535\u529b\u9700\u6c42\u3002\u5176\u4e2d\uff0c\u98ce\u7535\u5c06\u8d21\u732e140\u5409\u74e6\uff0c\u6bd4\u53bb\u5e74\u589e\u957f77%\uff0c\u8fd9\u6807\u5fd7\u7740\u5e74\u5ea6\u53ef\u518d\u751f\u80fd\u6e90\u65b0\u589e\u88c5\u673a\u5bb9\u91cf\u9996\u6b21\u53ef\u80fd\u8d85\u8fc7500\u5409\u74e6\u3002\u8fd9\u79cd\u524d\u6240\u672a\u6709\u7684\u6269\u5f20\u5c06\u652f\u6301\u4e2d\u56fd\u57282030\u5e74\u524d\u5b9e\u73b0\u78b3\u6392\u653e\u8fbe\u5cf0\u30012060\u5e74\u524d\u5b9e\u73b0\u78b3\u4e2d\u548c\u7684\u201c\u53cc\u78b3\u201d\u76ee\u6807\u3002\u5f3a\u52b2\u7684\u98ce\u7535\u524d\u666f\u5c06\u4e3a\u91d1\u98ce\u79d1\u6280\u7b49\u56fd\u5185\u98ce\u673a\u5236\u9020\u5546\u63d0\u4f9b\u6709\u529b\u652f\u6491\uff0c\u5de9\u56fa\u5176\u5e02\u573a\u5730\u4f4d\u3002<\/li>\n\n\n\n<li><strong>\u91d1\u98ce\u79d1\u6280\u5251\u63072025\u5e74\u51fa\u8d27\u91cf\u5f3a\u52b2\u589e\u957f\u3002 <\/strong>\u622a\u81f32024\u5e74\u5e95\uff0c\u91d1\u98ce\u79d1\u6280\u7684\u5728\u624b\u8ba2\u5355\u540c\u6bd4\u589e\u957f56%\uff0c\u8fbe\u523047,404\u5146\u74e6\uff0c\u8fd9\u4e3a\u51762025\u5e74\u98ce\u7535\u673a\u7ec4\u51fa\u8d27\u91cf\u7684\u5927\u5e45\u589e\u957f\u63d0\u4f9b\u4e86\u4fdd\u969c\u3002\u867d\u7136\u6d77\u4e0a\u98ce\u7535\u4ecd\u662f\u516c\u53f8\u7684\u6218\u7565\u91cd\u70b9\uff0c\u4f46\u9646\u4e0a\u9879\u76ee\u9884\u8ba1\u5c06\u7ee7\u7eed\u63a8\u52a8\u9700\u6c42\u3002\u5927\u5bb9\u91cf\u98ce\u673a\uff086\u5146\u74e6\u53ca\u4ee5\u4e0a\uff09\u662f2024\u5e74\u7684\u5173\u952e\u589e\u957f\u5f15\u64ce\uff0c\u5360\u603b\u9500\u91cf\u768461%\uff0c\u9500\u91cf\u589e\u957f\u4e8659%\u3002\u4e1a\u5185\u8ba4\u4e3a\uff0c\u9646\u4e0a\u98ce\u673a\u5c3a\u5bf8\u5347\u7ea7\u7684\u653e\u7f13\u5bf9\u4ea7\u54c1\u53ef\u9760\u6027\u548c\u884c\u4e1a\u53ef\u6301\u7eed\u6027\u5177\u6709\u79ef\u6781\u610f\u4e49\u3002\u968f\u7740\u56fd\u9645\u6536\u5165\u589e\u957f15.5%\u5e76\u5728\u516b\u4e2a\u56fd\u5bb6\u83b7\u5f97\u65b0\u8ba2\u5355\uff0c\u91d1\u98ce\u79d1\u6280\u5728\u56fd\u5185\u548c\u56fd\u9645\u5e02\u573a\u90fd\u5df2\u51c6\u5907\u597d\u6293\u4f4f\u589e\u957f\u673a\u9047\u3002<\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u3002 <\/strong>2025\u5e74\u4e0a\u534a\u5e74\u8425\u6536\u540c\u6bd4\u589e\u957f41.5%\uff0c\u8fbe\u5230285\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a201\u4ebf\u5143\u4eba\u6c11\u5e01\u30022025\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u523016.6\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a14.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022025\u5e74\u4e0a\u534a\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u5347\u81f30.34\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a0.32\u5143\u4eba\u6c11\u5e01\u3002<\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-77439\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-white-tex-16.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\/09\/a-blue-and-white-rectangular-object-with-white-tex-16.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-white-tex-16-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1260\" height=\"574\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-34.png\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-77440\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-34.png 1260w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-34-300x137.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-34-1024x466.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-34-768x350.png 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"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\/09\/word-image-77358-20.png\" alt=\"\" class=\"wp-image-77441\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-20.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-20-300x64.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\/09\/word-image-77358-21.png\" alt=\"\" class=\"wp-image-77442\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-21.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-21-300x64.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\">Lyft, Inc. (LYFT US): \u901a\u8fc7\u5408\u4f5c\u6269\u5927\u5f71\u54cd\u529b<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.5 \u76ee\u6807\u4ef7\uff1a24.5\u6b62\u635f\u4ef7\uff1a20.0<\/strong><\/li>\n\n\n\n<li>Lyft, Inc. \u63d0\u4f9b\u7dda\u4e0a\u53eb\u8eca\u670d\u52d9\u3002\u8a72\u516c\u53f8\u63d0\u4f9b\u53eb\u8eca\u9810\u8a02\u3001\u4ed8\u6b3e\u8655\u7406\u548c\u6c7d\u8eca\u904b\u8f38\u670d\u52d9\u3002Lyft\u7684\u670d\u52d9\u5c0d\u8c61\u70ba\u7f8e\u570b\u5ba2\u6236\u3002<\/li>\n\n\n\n<li><strong>Lyft\u5c06\u4e0eWaymo\u5408\u4f5c\uff0c\u5728\u7eb3\u4ec0\u7ef4\u5c14\u63a8\u51fa\u81ea\u52a8\u9a7e\u9a76\u53eb\u8f66\u670d\u52a1\u3002<\/strong>\u53cc\u65b9\u5c06\u4ece\u660e\u5e74\u5f00\u59cb\u5728\u7eb3\u4ec0\u7ef4\u5c14\u63a8\u51fa\u81ea\u52a8\u53eb\u8f66\u670d\u52a1\u3002 Lyft\u5c06\u8d1f\u8d23\u8f66\u961f\u8425\u8fd0\u7ba1\u7406\uff0c\u5305\u62ec\u7ef4\u62a4\u3001\u57fa\u7840\u8bbe\u65bd\u548c\u505c\u8f66\u573a\uff0c\u800cWaymo\u7684\u8f66\u8f86\u5c06\u9996\u5148\u5728\u5176\u5e94\u7528\u7a0b\u5f0f\u4e0a\u8fd0\u884c\uff0c\u7136\u540e\u5728 2026 \u5e74\u6574\u5408\u5230Lyft\u7684\u5e73\u53f0\u4e2d\u3002 Lyft\u5c06\u4e3a\u6b64\u5efa\u9020\u4e00\u4e2a\u65b0\u7684\u81ea\u52a8\u9a7e\u9a76\u6c7d\u8f66\u4e13\u5c5e\u8bbe\u65bd\uff0c\u4ee5\u63d0\u4f9b\u7ef4\u4fee\u548c\u5145\u7535\u670d\u52a1\uff0c\u6709\u52a9\u4e8eLyft\u5728\u81ea\u52a8\u9a7e\u9a76\u53eb\u8f66\u5e02\u573a\u4e2d\u5360\u636e\u4e00\u5e2d\u4e4b\u5730\u3002<\/li>\n\n\n\n<li><strong>Lyft\u5c06\u4e0e\u767e\u5ea6\u7684Apollo Go\u5408\u4f5c\u6269\u5c55\u6b27\u6d32\u5e02\u573a\u3002<\/strong>Lyft\u5df2\u4e0e\u767e\u5ea6\u5408\u4f5c\uff0c\u8ba1\u5212\u5728\u83b7\u5f97\u76d1\u7ba1\u90e8\u95e8\u6279\u51c6\u540e\uff0c\u9996\u5148\u5728\u5fb7\u56fd\u548c\u82f1\u56fd\u90e8\u7f72\u6570\u5343\u8f86 Apollo Go\u8f66\u8f86\u3002\u767e\u5ea6\u7684\u7b2c\u516d\u4ee3\u81ea\u52a8\u9a7e\u9a76\u6c7d\u8f66\u5c06\u5728Lyft\u7684\u5e73\u53f0\u4e0a\u8fd0\u884c\uff0c\u5e76\u8ba1\u5212\u5728\u672a\u6765\u51e0\u5e74\u5185\u5c06\u4e1a\u52a1\u6269\u5c55\u5230\u591a\u4e2a\u6b27\u6d32\u5e02\u573a\u3002\u6b64\u4e3e\u4e0e\u6b27\u6d32\u7684\u76d1\u7ba1\u84dd\u56fe\u76f8\u7b26\uff0c\u5305\u62ec\u5fb7\u56fd\u52302027 \u5e74\u5b9e\u73b0\u81ea\u52a8\u5316\u4ea4\u901a\uff0c\u4ee5\u53ca\u52302030\u5e74\u5b8c\u5168\u6574\u5408\u81ea\u52a8\u9a7e\u9a76\u7cfb\u7edf\u7684\u76ee\u6807\uff0c\u8fd9\u5c06\u5de9\u56faLyft\u5728\u8be5\u5730\u533a\u7684\u5730\u4f4d\u3002<\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\u540c\u6bd4\u589e\u957f11.1%\uff0c\u81f316\u4ebf\u7f8e\u5143\uff0c\u4f4e\u4e8e\u9884\u671f1000\u4e07\u7f8e\u5143\u3002GAAP\u6bcf\u80a1\u6536\u76ca\u4e3a0.10\u7f8e\u5143\uff0c\u9ad8\u4e8e\u5e02\u573a\u9884\u671f0.06\u7f8e\u5143\u3002\u4e58\u8f66\u91cf\u540c\u6bd4\u589e\u957f14%\uff0c\u81f32.348\u4ebf\u6b21\uff0c\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u4e5f\u662f\u8fde\u7eed\u7b2c\u4e5d\u4e2a\u5b63\u5ea6\u5b9e\u73b0\u4e24\u4f4d\u6570\u540c\u6bd4\u589e\u957f\u3002\u6d3b\u8dc3\u4e58\u5ba2\u91cf\u540c\u6bd4\u589e\u957f10%\uff0c\u81f32610\u4e07\uff0c\u521b\u5386\u53f2\u65b0\u9ad8\u3002\u516c\u53f8\u9884\u8ba1\u7b2c\u4e09\u5b63\u5ea6\u4e58\u8f66\u91cf\u540c\u6bd4\u589e\u957f\u5c06\u8fbe\u523015%\u5de6\u53f3\uff0c\u603b\u9884\u8ba2\u91cf\u5c06\u572846.5\u4ebf\u7f8e\u5143\u81f348\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u8c03\u6574\u540e\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\uff08EBITDA\uff09\u5c06\u57281.25\u4ebf\u7f8e\u5143\u81f31.45\u4ebf\u7f8e\u5143\u4e4b\u95f4\u3002<\/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\/09\/a-blue-and-white-rectangular-object-with-white-tex-17.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-77443\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-white-tex-17.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-white-tex-17-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/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=\"1260\" height=\"574\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-with-red-green-and-blue-lines-ai-generate-1.png\" alt=\"A graph with red green and blue lines\n\nAI-generated content may be incorrect.\" class=\"wp-image-77444\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-with-red-green-and-blue-lines-ai-generate-1.png 1260w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-with-red-green-and-blue-lines-ai-generate-1-300x137.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-with-red-green-and-blue-lines-ai-generate-1-1024x466.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-with-red-green-and-blue-lines-ai-generate-1-768x350.png 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"200\" class=\"wp-image-77445\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-long-line-of-a-flag-description-automatically-g-20.png\" alt=\"A long line of a flag\n\nDescription automatically generated with medium confidence\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-long-line-of-a-flag-description-automatically-g-20.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-long-line-of-a-flag-description-automatically-g-20-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-long-line-of-a-flag-description-automatically-g-20-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">\u4f18\u6b65\u79d1\u6280 (UBER US): \u52a0\u5f3a\u5176\u81ea\u52a8\u9a7e\u9a76\u8f66\u8f86\u9635\u5bb9<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a90 \u76ee\u6807\u4ef7\uff1a110 \u6b62\u635f\u4ef7\uff1a80<\/strong><\/li>\n\n\n\n<li>\u4f18\u6b65\u79d1\u6280\u516c\u53f8\u63d0\u4f9b\u6253\u8f66\u670d\u52a1\u3002\u8be5\u516c\u53f8\u5f00\u53d1\u7528\u4e8e\u9053\u8def\u8fd0\u8f93\u3001\u5bfc\u822a\u3001\u62fc\u8f66\u548c\u652f\u4ed8\u5904\u7406\u7684\u5e94\u7528\u7a0b\u5e8f\u3002\u4f18\u6b65\u79d1\u6280\u4e3a\u5168\u7403\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<\/li>\n\n\n\n<li><strong>\u4e0e\u7279\u65af\u62c9\u7684\u6218\u7565\u5408\u4f5c\u3002<\/strong>\u4f18\u6b65\u8d27\u8fd0\u5df2\u4e0e\u7279\u65af\u62c9\u5408\u4f5c\u63a8\u51fa\u4e13\u7528\u7535\u52a8\u8f66\u961f\u52a0\u901f\u5668\u8ba1\u5212\uff0c\u8fd9\u662f\u671d\u7740\u7269\u6d41\u53bb\u78b3\u5316\u8fc8\u51fa\u7684\u91cd\u5927\u4e00\u6b65\u3002\u8be5\u8ba1\u5212\u4e3a\u7279\u65af\u62c9\u534a\u6302\u5361\u8f66\u63d0\u4f9b\u8865\u8d34\uff0c\u901a\u8fc7\u591a\u5e74\u5408\u540c\u786e\u4fdd\u53ef\u9884\u6d4b\u7684\u9700\u6c42\uff0c\u5e76\u5229\u7528\u4f18\u6b65\u8d27\u8fd0\u5e9e\u5927\u7684\u53d1\u8d27\u7f51\u7edc\u4fdd\u6301\u8f66\u8f86\u7684\u5145\u5206\u5229\u7528\u3002\u65e9\u671f\u8bd5\u70b9\u663e\u793a\u51fa\u8f83\u4f4e\u7684\u71c3\u6599\u548c\u7ef4\u62a4\u6210\u672c\u4ee5\u53ca\u8fd0\u8425\u53ef\u884c\u6027\uff0c\u534a\u6302\u8f66\u884c\u9a76\u8d85\u8fc712,000\u82f1\u91cc\uff0c\u5e73\u5747\u6bcf\u82f1\u91cc\u51c0\u80fd\u8017\u4ec5\u4e3a1.72\u5343\u74e6\u65f6\u3002\u901a\u8fc7\u89e3\u51b3\u7535\u52a8\u8f66\u91c7\u7528\u7684\u969c\u788d\uff0c\u4f18\u6b65\u6b63\u5728\u5c06\u81ea\u5df1\u548c\u7279\u65af\u62c9\u5b9a\u4f4d\u4e3a\u96f6\u6392\u653e\u8d27\u8fd0\u751f\u6001\u7cfb\u7edf\u7684\u9886\u5bfc\u8005\u3002<\/li>\n\n\n\n<li><strong>\u5728\u81ea\u52a8\u9a7e\u9a76\u6253\u8f66\u9886\u57df\u6269\u5927\u89c4\u6a21\u3002<\/strong>\u4f18\u6b65\u7ee7\u7eed\u52a0\u5f3a\u5728\u81ea\u52a8\u9a7e\u9a76\u51fa\u884c\u9886\u57df\u7684\u9886\u5bfc\u5730\u4f4d\uff0c\u6269\u5927\u4e0eWaymo\u7684\u5408\u4f5c\uff0c\u9884\u8ba1\u5728\u7f8e\u56fd\u4f1a\u6709\u6570\u767e\u8f86\u5168\u7535\u52a8\u7684\u6377\u8c79I-PACE\u81ea\u52a8\u9a7e\u9a76\u8f66\u8f86\u3002\u516c\u53f8\u76ee\u524d\u5728\u5168\u7403\u62e5\u670920\u4e2a\u81ea\u52a8\u9a7e\u9a76\u5408\u4f5c\u4f19\u4f34\uff0c\u5305\u62ec\u767e\u5ea6\u7684Apollo Go\u3001Lucid\u548cNuro\uff0c\u5e76\u8ba1\u5212\u5728\u7f8e\u56fd\u3001\u4e2d\u4e1c\u548c\u4e9a\u6d32\u8fdb\u884c\u5927\u89c4\u6a21\u90e8\u7f72\u3002\u901a\u8fc7\u5c06\u5168\u7403\u6700\u5927\u7684\u6253\u8f66\u6570\u636e\u96c6\u4e0e\u591a\u5bb6\u539f\u59cb\u8bbe\u5907\u5236\u9020\u5546\u548c\u8f6f\u4ef6\u8054\u76df\u7ed3\u5408\uff0c\u4f18\u6b65\u6b63\u5728\u5c06\u81ea\u5df1\u5b9a\u4f4d\u4e3a\u5168\u7403\u673a\u5668\u4eba\u51fa\u79df\u8f66\u670d\u52a1\u7684\u5546\u4e1a\u5316\u5c42\u3002\u8fd9\u4e00\u6218\u7565\u964d\u4f4e\u4e86\u5185\u90e8\u6784\u5efa\u81ea\u52a8\u9a7e\u9a76\u6280\u672f\u7684\u8d44\u672c\u5f3a\u5ea6\uff0c\u540c\u65f6\u786e\u4fdd\u4f18\u6b65\u5728\u4ee5\u4eba\u5de5\u667a\u80fd\u9a71\u52a8\u7684\u672a\u6765\u8fd0\u8f93\u4e2d\u4fdd\u6301\u6838\u5fc3\u5730\u4f4d\u3002<\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u4f18\u6b65\u91ce\u751f\u52a8\u7269\u56ed\u62d3\u5c55\u65b0\u9886\u57df\u3002<\/strong>\u4f18\u6b65\u901a\u8fc7\u6700\u8fd1\u5728\u5185\u7f57\u6bd5\u56fd\u5bb6\u516c\u56ed\u63a8\u51fa\u7684\u4f18\u6b65\u91ce\u751f\u52a8\u7269\u56ed\uff0c\u5c06\u5176\u5e73\u53f0\u6269\u5c55\u5230\u65c5\u6e38\u548c\u4f53\u9a8c\u5f0f\u65c5\u884c\u3002\u4e58\u5ba2\u73b0\u5728\u53ef\u4ee5\u901a\u8fc7\u5e94\u7528\u7a0b\u5e8f\u76f4\u63a5\u9884\u8ba2\u4e09\u5c0f\u65f6\u7684\u5bfc\u6e38\u91ce\u751f\u52a8\u7269\u56ed\u4e4b\u65c5\uff0c\u521b\u9020\u4e86\u4f18\u6b65\u51fa\u884c\u751f\u6001\u7cfb\u7edf\u7684\u65e0\u7f1d\u5ef6\u4f38\u3002\u8fd9\u4e00\u4e3e\u63aa\u8fdb\u5165\u4e86\u80af\u5c3c\u4e9a43\u4ebf\u7f8e\u5143\u7684\u65c5\u6e38\u5e02\u573a\uff0c\u540c\u65f6\u4e3a\u5f53\u5730\u8fd0\u8425\u5546\u548c\u8f66\u961f\u5408\u4f5c\u4f19\u4f34\u5f00\u8f9f\u4e86\u65b0\u7684\u6536\u5165\u6765\u6e90\u3002\u901a\u8fc7\u5c06\u5176\u5e73\u53f0\u4e0e\u533a\u57df\u65c5\u6e38\u9700\u6c42\u7ed3\u5408\uff0c\u4f18\u6b65\u5c55\u793a\u4e86\u5176\u5728\u6253\u8f66\u548c\u914d\u9001\u4e4b\u5916\u591a\u5143\u5316\u6536\u5165\u7684\u80fd\u529b\uff0c\u589e\u5f3a\u4e86\u5404\u884c\u4e1a\u548c\u5730\u533a\u7684\u97e7\u6027\u548c\u76f8\u5173\u6027\u3002<\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u4e1a\u7ee9\u3002<\/strong>\u7b2c\u4e8c\u5b63\u5ea6\u6536\u5165\u540c\u6bd4\u589e\u957f18.7%\uff0c\u8fbe\u5230127\u4ebf\u7f8e\u5143\uff0c\u672a\u80fd\u8fbe\u5230\u9884\u671f\uff0c\u5c11\u4e8e1\u4ebf\u7f8e\u5143\u3002GAAP\u6bcf\u80a1\u6536\u76ca\u4e3a0.63\u7f8e\u5143\uff0c\u7565\u5fae\u8d85\u51fa\u5e02\u573a\u5171\u8bc60.01\u7f8e\u5143\u3002\u4f18\u6b65\u4e00\u53f7\u7684\u8ba2\u9605\u4eba\u6570\u540c\u6bd4\u589e\u957f\u7ea660%\uff0c\u8d85\u8fc73600\u4e07\uff0c\u5360\u603b\u6bdb\u9884\u5b9a\u768440%\u3002\u516c\u53f8\u8fd8\u5ba3\u5e03\u5c06\u8fdb\u884c200\u4ebf\u7f8e\u5143\u7684\u65b0\u80a1\u7968\u56de\u8d2d\u3002\u5728\u7b2c\u4e09\u5b63\u5ea6\uff0c\u9884\u8ba1\u6bdb\u9884\u5b9a\u5728482.5\u4ebf\u7f8e\u5143\u81f3497.5\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u8c03\u6574\u540e\u7684\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\uff08EBITDA\uff09\u572821.9\u4ebf\u7f8e\u5143\u81f322.9\u4ebf\u7f8e\u5143\u4e4b\u95f4\u3002<\/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\/09\/a-blue-and-white-rectangular-object-with-numbers-28.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-77446\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-numbers-28.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-blue-and-white-rectangular-object-with-numbers-28-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/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=\"1260\" height=\"574\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-35.png\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-77447\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-35.png 1260w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-35-300x137.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-35-1024x466.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-graph-on-a-screen-ai-generated-content-may-be-i-35-768x350.png 768w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0<\/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-77358-_va9jaog5jnw3\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-77448\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-27.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-27.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-27-300x64.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\/09\/word-image-77358-28.png\" alt=\"\" class=\"wp-image-77449\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-28.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-77358-28-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Take profit on Yankuang Energy Group Co Ltd. (1171 HK) at HK$10.40 and GE Aerospace (GE US) at US$300. Cut loss on CGN Power Co Ltd. (1816 HK) at HK$2.77.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"494\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-data-sheet-ai-generated-content-4.png\" alt=\"A screenshot of a data sheet\n\nAI-generated content may be incorrect.\" class=\"wp-image-77450\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-data-sheet-ai-generated-content-4.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-data-sheet-ai-generated-content-4-300x157.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/a-screenshot-of-a-data-sheet-ai-generated-content-4-768x402.png 768w\" sizes=\"(max-width: 943px) 100vw, 943px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\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 \u00a0 \u9999\u6e2f ^ Back To Top AEM Holdings Ltd. (AEM SP): Nvidia \u5bf9\u82f1\u7279\u5c14\u7684\u6295\u8d44\u5e26\u6765\u7684\u95f4\u63a5\u6536\u76ca (Source: Bloomberg) \u00a0 \u9999\u6e2f\u7f6e\u5730 (HKL SP): \u5728\u964d\u606f\u73af\u5883\u4e2d\u7684\u6295\u8d44\u7ec4\u5408\u91cd\u65b0\u5b9a\u4f4d (Source: Bloomberg) \u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u5373\u5c06\u5230\u6765\u7684\u9ec4\u91d1\u5468\u5e26\u6765\u7684\u63d0\u632f (Source: Bloomberg) \u91d1\u98ce\u79d1\u6280 (2208 HK)\uff1a\u652f\u6301\u589e\u957f\u7684\u987a\u98ce\u56e0\u7d20 (Source: Bloomberg) Lyft, Inc. (LYFT US): \u901a\u8fc7\u5408\u4f5c\u6269\u5927\u5f71\u54cd\u529b (Source: Bloomberg) \u4f18\u6b65\u79d1\u6280 (UBER US): \u52a0\u5f3a\u5176\u81ea\u52a8\u9a7e\u9a76\u8f66\u8f86\u9635\u5bb9 (Source: Bloomberg) [&hellip;]<\/p>\n","protected":false},"author":10,"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-77358","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 AEM Holdings Ltd. 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2025\u5e74\u4e0a\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u30022025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u589e\u957f9.6%\u81f31.9\u4ebf\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a1.736\u4ebf\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u589e\u957f284%\u81f3316\u4e07\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a82\u4e07\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f30.98\u65b0\u5206\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a0.29\u65b0\u5206\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u91d1\u98ce\u79d1\u6280 (2208 HK)\uff1a\u652f\u6301\u589e\u957f\u7684\u987a\u98ce\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a11.50\uff0c\u76ee\u6807\u4ef7\uff1a13.10\uff0c\u6b62\u635f\u4ef7\uff1a10.70 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2025\u5e74\u4e0a\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u30022025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u589e\u957f9.6%\u81f31.9\u4ebf\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a1.736\u4ebf\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u589e\u957f284%\u81f3316\u4e07\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a82\u4e07\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f30.98\u65b0\u5206\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a0.29\u65b0\u5206\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u91d1\u98ce\u79d1\u6280 (2208 HK)\uff1a\u652f\u6301\u589e\u957f\u7684\u987a\u98ce\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a11.50\uff0c\u76ee\u6807\u4ef7\uff1a13.10\uff0c\u6b62\u635f\u4ef7\uff1a10.70 \u91d1\u98ce\u79d1\u6280\u80a1\u4efd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u98ce\u673a\u5236\u9020\u3001\u98ce\u7535\u670d\u52a1\u3001\u98ce\u7535\u573a\u6295\u8d44\u4e0e\u5f00\u53d1\u4e1a\u52a1\u7684\u4e2d\u56fd\u516c\u53f8\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u56db\u4e2a\u5206\u90e8\u5f00\u5c55\u4e1a\u52a1\u3002\u98ce\u673a\u5236\u9020\u4e0e\u9500\u552e\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u98ce\u529b\u53d1\u7535\u673a\u7ec4\u53ca\u5176\u96f6\u90e8\u4ef6\u7684\u7814\u53d1\u3001\u5236\u9020\u53ca\u9500\u552e\u3002\u98ce\u7535\u670d\u52a1\u5206\u90e8\u4e3b\u8981\u63d0\u4f9b\u98ce\u7535\u76f8\u5173\u7684\u987e\u95ee\u3001\u98ce\u7535\u573a\u5efa\u8bbe\u3001\u7ef4\u62a4\u548c\u8fd0\u8f93\u670d\u52a1\u3002\u98ce\u7535\u573a\u5f00\u53d1\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u98ce\u7535\u573a\u5f00\u53d1\u548c\u8fd0\u8425\u3002\u5176\u4ed6\u5206\u90e8\u4e3b\u8981\u4ece\u4e8b\u6c34\u5904\u7406\u5f00\u53d1\u548c\u8fd0\u8425\u3002\u8be5\u516c\u53f8\u4e3b\u8981\u5728\u4e2d\u56fd\u56fd\u5185\u548c\u6d77\u5916\u5e02\u573a\u5f00\u5c55\u4e1a\u52a1\u3002 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u3002 2025\u5e74\u4e0a\u534a\u5e74\u8425\u6536\u540c\u6bd4\u589e\u957f41.5%\uff0c\u8fbe\u5230285\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a201\u4ebf\u5143\u4eba\u6c11\u5e01\u30022025\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u523016.6\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a14.4\u4ebf\u5143\u4eba\u6c11\u5e01\u30022025\u5e74\u4e0a\u534a\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u5347\u81f30.34\u5143\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u540c\u671f\u4e3a0.32\u5143\u4eba\u6c11\u5e01\u3002 \u5e02\u573a\u5171\u8bc6\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-22-sep-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=\"2025-09-22T01:56:46+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-09-22T02:11:20+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\u5e749\u670822\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 AEM Holdings Ltd. 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2025\u5e74\u4e0a\u534a\u5e74\u8d22\u52a1\u4e1a\u7ee9\u30022025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u589e\u957f9.6%\u81f31.9\u4ebf\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a1.736\u4ebf\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u51c0\u5229\u6da6\u589e\u957f284%\u81f3316\u4e07\u65b0\u5143\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a82\u4e07\u65b0\u5143\u30022025\u5e74\u4e0a\u534a\u5e74\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u589e\u81f30.98\u65b0\u5206\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u4e3a0.29\u65b0\u5206\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u91d1\u98ce\u79d1\u6280 (2208 HK)\uff1a\u652f\u6301\u589e\u957f\u7684\u987a\u98ce\u56e0\u7d20 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a11.50\uff0c\u76ee\u6807\u4ef7\uff1a13.10\uff0c\u6b62\u635f\u4ef7\uff1a10.70 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