【券商聚焦】中信证券：下半年恒生科技板块行情仍将围绕AI进展及主业业绩确定性演绎_老虎社区_美港股上老虎

【券商聚焦】中信证券：下半年恒生科技板块行情仍将围绕AI进展及主业业绩确定性演绎

金吾财讯08:40

金吾财讯 | 中信证券研究指，2026Q2以来，恒生科技指数估值保持低位震荡，板块的核心定价因素从外部风险偏好的分化转向市场流动性预期、板块业绩韧性和现金流情况。展望26H2，该机构认为板块行情仍将围绕AI进展及主业业绩确定性演绎。AI角度，建议关注头部互联网公司模型迭代、智能体渗透节奏、应用拓展以及商业化兑现有望带来的催化；行业角度，建议关注业绩确定性较高、现金流及股东回报较好的公司。

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