收购逻辑是真逻辑：一_老虎社区_美港股上老虎 - 老虎社区

张山投资笔记

收购逻辑是真逻辑：一个盈利1.78亿（年化）的金融信息资产注入一个盈利6500万（年化）的传统出版平台，基本面的改变是量级的。但7个涨停板已经消化了相当一部分预期，后续的核心变量是审计评估结果和监管审批进度，盯这两个节点比盯K线有用。
另外，市场目前定价的主要是“资产注入+市值膨胀”的逻辑，AI商业化这条线的价值还没有被充分定价。AI能力在教育场景和金融场景的双向复用，才是新华传媒未来三年最大的想象空间。
$新华传媒(600825)$ @话题虎

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