招商证券国际：互联网行业估值处于低位建议关注智谱(02513)及MiniMax-W(00100)

智通财经07-06

智通财经APP获悉，招商证券国际发布研报称，在中国互联网行业估值处于历史低位、盈利预测下修接近尾声的背景下，偏好B端商业化领先、供应链优势及渠道生态优势明显、估值合理及股东回报能力强的公司，行业首选阿里巴巴(BABA.US)、腾讯控股(00700)、快手-W(01024)、欢聚(JOYY.US)。该行预计互联网公司收入增长将在下半年加速，驱动因素包括云业务持续加速、电商基数压力缓解、即时零售客单价...

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It is recommended to pay attention to Zhipu (02513) and MiniMax-W (00100)","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/cc171bc2f7205e7e541426a675fce8a4","symbols_score_info":{"81024":0.6,"BABU":0.6,"BABW":0.6,"CLIX":0.6,"BBYY":0.6,"SOCL":0.6,"JEMA":0.6,"02513":1.87,"XSOE":0.6,"LDEM":0.6,"DRAG":0.6,"00100":1.86,"ALBmain":0.6,"KSTmain":0.6,"01024":1.88,"ODDS":0.6,"AAXJ":0.6,"JADE":0.6,"TCEHY":1.9,"HTCD.SI":0.6,"09988":1.89,"BIDD":0.6,"BKF":0.6,"TCHmain":0.6,"JOYY":1.87,"BABX":0.6,"ONLN":0.6,"00700":1.9,"TCHI":0.6,"FFEM":0.6,"BABO":0.6,"EMC":0.6,"FDNI":0.6,"KWEB":0.6,"CXSE":0.6,"ESPO":0.6,"BABA":1.89,"KBAB":0.6},"content_text":"智通财经APP获悉，招商证券国际发布研报称，在中国互联网行业估值处于历史低位、盈利预测下修接近尾声的背景下，偏好B端商业化领先、供应链优势及渠道生态优势明显、估值合理及股东回报能力强的公司，行业首选阿里巴巴(BABA.US)、腾讯控股(00700)、快手-W(01024)、欢聚(JOYY.US)。该行预计互联网公司收入增长将在下半年加速，驱动因素包括云业务持续加速、电商基数压力缓解、即时零售客单价回升，以及游戏产品集中上线，盈利亦料在下半年逐步消化即时零售竞争带来的集中拖累，有望在下半年实现盈利，叠加云业务利润率改善趋势及电商竞争趋稳，认为行业利润修复路径清晰。该行维持对互联网行业的“推荐”评级，认为未来催化剂包括模型及产品持续迭代、商业化进展超预期、云业务增速加速及利润率扩张，以及股东回报提升，同时建议关注智谱(02513)及MiniMax-W(00100)等由模型能力迭代驱动的估值上行空间。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2649261740","isCrawlerRequest":true}

招商证券国际：互联网行业估值处于低位 建议关注智谱(02513)及MiniMax-W(00100)

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招商证券国际：互联网行业估值处于低位建议关注智谱(02513)及MiniMax-W(00100)