港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑_老虎社区_美港股上老虎

港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑

智通财经2025-09-02

9月2日，中兴通讯盘中跌超8%，消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...

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免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

冒险传说
·2025-09-04
求带~有没有学长学姐能帮我内推的
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1
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起飞吧123
·2025-09-04
还是得老牌企业站出来说话
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溜溜宁静致远
·2025-09-04
大环境这样，中兴还继续撑住，有点子水平的
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溜溜宁静致远
·2025-09-04
中兴还是挺有实力的
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磁力安静书
·2025-09-03
中兴真不愧是老牌企业，这个财报真不错
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海阔天空a
·2025-09-03
这一轮财报还不错，算是正常发挥
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href=http://www.zhitongcaijing.com/content/detail/1340350.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...</p>\n\n<a 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tg-height=\"581\"/></p><p>富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。</p><p>野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 11:37 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1340350.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1340350.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e02b7a55e84212cdc6dccb164e9665b","relate_stocks":{"BK0026":"智能家居","BK0103":"IPV6","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","BK0167":"5G","BK1526":"科网股","BK1149":"通信设备","BK0214":"IT设备","BK0067":"物联网","BK1607":"新IT概念","BK0123":"4G","BK0183":"MSCI概念","00763":"中兴通讯","BK0018":"去IOE","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK0188":"融资融券","BK0055":"第三方支付","BK0012":"证金概念","BK0171":"无线充电","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0028":"国家队","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK0148":"宽带提速","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK0125":"芯片国产化","BK1506":"5G概念","BK0090":"移动互联网","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0058":"智慧城市","BK0030":"云计算","BK1529":"电讯设备","BK0196":"行业龙头","BK0000":"一带一路"},"source_url":"http://www.zhitongcaijing.com/content/detail/1340350.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2564882260","content_text":"9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。","news_type":1,"symbols_score_info":{"00763":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":474831935176752,"gmtCreate":1756947117354,"gmtModify":1756947281820,"author":{"id":"4220013227454580","authorId":"4220013227454580","name":"起飞吧123","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4220013227454580","idStr":"4220013227454580"},"htmlText":"还是得老牌企业站出来说话","listText":"还是得老牌企业站出来说话","text":"还是得老牌企业站出来说话","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/474831935176752","repostId":2564882260,"repostType":2,"repost":{"id":"2564882260","kind":"news","pubTimestamp":1756784230,"share":"https://www.laohu8.com/m/news/2564882260?lang=zh_CN&edition=full","pubTime":"2025-09-02 11:37","market":"sh","language":"zh","title":"港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑","url":"https://stock-news.laohu8.com/highlight/detail?id=2564882260","media":"智通财经","summary":"智通财经APP获悉，中兴通讯 跌超7%，截至发稿，跌6.96%，报33.7港元，成交额9.89亿港元。消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。","content":"<html><head></head><body><p>9月2日，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>盘中跌超8%， 消息面上，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/234f5df22c802a5dc792b803549ee778\" tg-width=\"913\" tg-height=\"581\"/></p><p>富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。</p><p>野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 11:37 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1340350.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1340350.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e02b7a55e84212cdc6dccb164e9665b","relate_stocks":{"BK0026":"智能家居","BK0103":"IPV6","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","BK0167":"5G","BK1526":"科网股","BK1149":"通信设备","BK0214":"IT设备","BK0067":"物联网","BK1607":"新IT概念","BK0123":"4G","BK0183":"MSCI概念","00763":"中兴通讯","BK0018":"去IOE","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK0188":"融资融券","BK0055":"第三方支付","BK0012":"证金概念","BK0171":"无线充电","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0028":"国家队","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK0148":"宽带提速","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK0125":"芯片国产化","BK1506":"5G概念","BK0090":"移动互联网","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0058":"智慧城市","BK0030":"云计算","BK1529":"电讯设备","BK0196":"行业龙头","BK0000":"一带一路"},"source_url":"http://www.zhitongcaijing.com/content/detail/1340350.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2564882260","content_text":"9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。","news_type":1,"symbols_score_info":{"00763":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":474707318120960,"gmtCreate":1756916370546,"gmtModify":1756917368658,"author":{"id":"4220019431455700","authorId":"4220019431455700","name":"溜溜宁静致远","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4220019431455700","idStr":"4220019431455700"},"htmlText":"大环境这样，中兴还继续撑住，有点子水平的","listText":"大环境这样，中兴还继续撑住，有点子水平的","text":"大环境这样，中兴还继续撑住，有点子水平的","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/474707318120960","repostId":2564882260,"repostType":2,"repost":{"id":"2564882260","kind":"news","pubTimestamp":1756784230,"share":"https://www.laohu8.com/m/news/2564882260?lang=zh_CN&edition=full","pubTime":"2025-09-02 11:37","market":"sh","language":"zh","title":"港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑","url":"https://stock-news.laohu8.com/highlight/detail?id=2564882260","media":"智通财经","summary":"智通财经APP获悉，中兴通讯 跌超7%，截至发稿，跌6.96%，报33.7港元，成交额9.89亿港元。消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。","content":"<html><head></head><body><p>9月2日，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>盘中跌超8%， 消息面上，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/234f5df22c802a5dc792b803549ee778\" tg-width=\"913\" tg-height=\"581\"/></p><p>富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。</p><p>野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 11:37 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1340350.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1340350.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e02b7a55e84212cdc6dccb164e9665b","relate_stocks":{"BK0026":"智能家居","BK0103":"IPV6","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","BK0167":"5G","BK1526":"科网股","BK1149":"通信设备","BK0214":"IT设备","BK0067":"物联网","BK1607":"新IT概念","BK0123":"4G","BK0183":"MSCI概念","00763":"中兴通讯","BK0018":"去IOE","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK0188":"融资融券","BK0055":"第三方支付","BK0012":"证金概念","BK0171":"无线充电","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0028":"国家队","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK0148":"宽带提速","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK0125":"芯片国产化","BK1506":"5G概念","BK0090":"移动互联网","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0058":"智慧城市","BK0030":"云计算","BK1529":"电讯设备","BK0196":"行业龙头","BK0000":"一带一路"},"source_url":"http://www.zhitongcaijing.com/content/detail/1340350.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2564882260","content_text":"9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。","news_type":1,"symbols_score_info":{"00763":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":474706120892504,"gmtCreate":1756916345662,"gmtModify":1756917368301,"author":{"id":"4220019431455700","authorId":"4220019431455700","name":"溜溜宁静致远","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4220019431455700","idStr":"4220019431455700"},"htmlText":"中兴还是挺有实力的","listText":"中兴还是挺有实力的","text":"中兴还是挺有实力的","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/474706120892504","repostId":2564882260,"repostType":2,"repost":{"id":"2564882260","kind":"news","pubTimestamp":1756784230,"share":"https://www.laohu8.com/m/news/2564882260?lang=zh_CN&edition=full","pubTime":"2025-09-02 11:37","market":"sh","language":"zh","title":"港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑","url":"https://stock-news.laohu8.com/highlight/detail?id=2564882260","media":"智通财经","summary":"智通财经APP获悉，中兴通讯 跌超7%，截至发稿，跌6.96%，报33.7港元，成交额9.89亿港元。消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。","content":"<html><head></head><body><p>9月2日，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>盘中跌超8%， 消息面上，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/234f5df22c802a5dc792b803549ee778\" tg-width=\"913\" tg-height=\"581\"/></p><p>富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。</p><p>野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 11:37 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1340350.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1340350.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e02b7a55e84212cdc6dccb164e9665b","relate_stocks":{"BK0026":"智能家居","BK0103":"IPV6","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","BK0167":"5G","BK1526":"科网股","BK1149":"通信设备","BK0214":"IT设备","BK0067":"物联网","BK1607":"新IT概念","BK0123":"4G","BK0183":"MSCI概念","00763":"中兴通讯","BK0018":"去IOE","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK0188":"融资融券","BK0055":"第三方支付","BK0012":"证金概念","BK0171":"无线充电","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0028":"国家队","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK0148":"宽带提速","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK0125":"芯片国产化","BK1506":"5G概念","BK0090":"移动互联网","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0058":"智慧城市","BK0030":"云计算","BK1529":"电讯设备","BK0196":"行业龙头","BK0000":"一带一路"},"source_url":"http://www.zhitongcaijing.com/content/detail/1340350.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2564882260","content_text":"9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。","news_type":1,"symbols_score_info":{"00763":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":474681123627096,"gmtCreate":1756910242814,"gmtModify":1756911531504,"author":{"id":"4220013347454650","authorId":"4220013347454650","name":"磁力安静书","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4220013347454650","idStr":"4220013347454650"},"htmlText":"中兴真不愧是老牌企业，这个财报真不错","listText":"中兴真不愧是老牌企业，这个财报真不错","text":"中兴真不愧是老牌企业，这个财报真不错","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/474681123627096","repostId":2564882260,"repostType":2,"repost":{"id":"2564882260","kind":"news","pubTimestamp":1756784230,"share":"https://www.laohu8.com/m/news/2564882260?lang=zh_CN&edition=full","pubTime":"2025-09-02 11:37","market":"sh","language":"zh","title":"港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑","url":"https://stock-news.laohu8.com/highlight/detail?id=2564882260","media":"智通财经","summary":"智通财经APP获悉，中兴通讯 跌超7%，截至发稿，跌6.96%，报33.7港元，成交额9.89亿港元。消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。","content":"<html><head></head><body><p>9月2日，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>盘中跌超8%， 消息面上，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/234f5df22c802a5dc792b803549ee778\" tg-width=\"913\" tg-height=\"581\"/></p><p>富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。</p><p>野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 11:37 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1340350.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1340350.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e02b7a55e84212cdc6dccb164e9665b","relate_stocks":{"BK0026":"智能家居","BK0103":"IPV6","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","BK0167":"5G","BK1526":"科网股","BK1149":"通信设备","BK0214":"IT设备","BK0067":"物联网","BK1607":"新IT概念","BK0123":"4G","BK0183":"MSCI概念","00763":"中兴通讯","BK0018":"去IOE","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK0188":"融资融券","BK0055":"第三方支付","BK0012":"证金概念","BK0171":"无线充电","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0028":"国家队","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK0148":"宽带提速","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK0125":"芯片国产化","BK1506":"5G概念","BK0090":"移动互联网","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0058":"智慧城市","BK0030":"云计算","BK1529":"电讯设备","BK0196":"行业龙头","BK0000":"一带一路"},"source_url":"http://www.zhitongcaijing.com/content/detail/1340350.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2564882260","content_text":"9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。","news_type":1,"symbols_score_info":{"00763":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":474641686623056,"gmtCreate":1756900821095,"gmtModify":1756905233020,"author":{"id":"4208949471513250","authorId":"4208949471513250","name":"海阔天空a","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4208949471513250","idStr":"4208949471513250"},"htmlText":"这一轮财报还不错，算是正常发挥","listText":"这一轮财报还不错，算是正常发挥","text":"这一轮财报还不错，算是正常发挥","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/474641686623056","repostId":2564882260,"repostType":2,"repost":{"id":"2564882260","kind":"news","pubTimestamp":1756784230,"share":"https://www.laohu8.com/m/news/2564882260?lang=zh_CN&edition=full","pubTime":"2025-09-02 11:37","market":"sh","language":"zh","title":"港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑","url":"https://stock-news.laohu8.com/highlight/detail?id=2564882260","media":"智通财经","summary":"智通财经APP获悉，中兴通讯 跌超7%，截至发稿，跌6.96%，报33.7港元，成交额9.89亿港元。消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。","content":"<html><head></head><body><p>9月2日，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>盘中跌超8%， 消息面上，<a href=\"https://laohu8.com/S/00763\">中兴通讯</a>上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/234f5df22c802a5dc792b803549ee778\" tg-width=\"913\" tg-height=\"581\"/></p><p>富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。</p><p>野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n港股异动 | 中兴通讯跌超8%，中期毛利率显著下滑\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 11:37 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1340350.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1340350.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e02b7a55e84212cdc6dccb164e9665b","relate_stocks":{"BK0026":"智能家居","BK0103":"IPV6","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","BK0167":"5G","BK1526":"科网股","BK1149":"通信设备","BK0214":"IT设备","BK0067":"物联网","BK1607":"新IT概念","BK0123":"4G","BK0183":"MSCI概念","00763":"中兴通讯","BK0018":"去IOE","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK0188":"融资融券","BK0055":"第三方支付","BK0012":"证金概念","BK0171":"无线充电","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0028":"国家队","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK0148":"宽带提速","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK0125":"芯片国产化","BK1506":"5G概念","BK0090":"移动互联网","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0058":"智慧城市","BK0030":"云计算","BK1529":"电讯设备","BK0196":"行业龙头","BK0000":"一带一路"},"source_url":"http://www.zhitongcaijing.com/content/detail/1340350.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2564882260","content_text":"9月2日，中兴通讯盘中跌超8%， 消息面上，中兴通讯上半年营收715.53亿元，同比增长14.51%；净利润50.58亿元，同比下降11.77%。毛利率32.45%，同比下降7.99%。富瑞发布研报称，中兴通讯过去三个月股价累升约52%，受人工智能及ASIC芯片增长憧憬，但第二季业绩逊预期显示市场过度乐观。目前其对中兴今明两年净利润预测较市场预测低出分别26%及31%，22倍市盈率估值对比未来三年净利润负增长并不吸引，投资评级由“持有”降至“跑输大市”，目标价上调至27.27港元。野村发表研究报告指，集团维持有效支出管理，尤其在研发方面，部分抵销毛利率下跌的影响。该行认为，集团下半年继续面对利润率压力，并由明年起逐渐恢复，受惠较佳的成本优化。该行对中兴2025年至2027年收入预测上调8.5%至10%，反映AI服务器需求增强，但将同期盈利预测下调4%至21%，以反映利润率摊薄。","news_type":1,"symbols_score_info":{"00763":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":0,"commentSize":6,"repostSize":6,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}