研报掘金｜华泰证券：首予连连数字“买入”评级，对长期TPV增长前景保持乐观

格隆汇01-19

华泰证券发表研报，首次覆盖连连数字并给予“买入”评级，目标价10.2港元，对应26E PS 5x。连连主要为中国商户出海提供跨境支付解决方案，帮助中国商户在境外收取外币，再经汇兑后回笼境内。公司优势在于遍布全球的牌照和合作网络，让连连能够支持超130个币种的交易。1H25年连连的合计TPV达2.1万亿元(同比+32%)，其中跨境支付TPV达1985亿元(同比+94%)，基于0.24%的服务费率，...

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