研报掘金｜中泰证券：首予商汤“增持”评级指其大模型能力处于第一梯队

格隆汇2025-07-28

中泰证券发表报告，首次覆盖商汤，并予以“增持”评级。该行指，商汤底层技术积累丰厚，其大模型能力处于第一梯队，具有稀缺性；同时公司亏损业务线正陆续实现拆分融资，主业生成式AI增长良好。该行预计公司2025至2027年实现总营业收入各48.72亿、62.79亿及80.93亿元，按年增长各29%。报告指，商汤利用生成式AI的底层技术优势，依托四大行业解决方案打造差异化竞争壁垒。SenseCore大装置...

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研报掘金｜中泰证券：首予商汤“增持”评级 指其大模型能力处于第一梯队

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研报掘金｜中泰证券：首予商汤“增持”评级指其大模型能力处于第一梯队