转自：智通财经 【主力资金监控：中兴通讯净买入近20亿】智通财经10月9日电，智通财经星矿数据显示，今日早盘主 力资金净流入电子、半导体、通信等板块，其中电子板块净流入超70亿元；净流出交通运输、非银金 融、医药等板块。个股方面，中兴通讯涨停，主力资金净买入近20亿元位居首位，工业富联、上海电 气、比亚迪获主力资金净流入居前；赛力斯遭净卖出超18亿元，阳光电源、贵州茅台、华友钴业资金净 流出额居前。 ...

港股方面， 中兴通讯 涨近13%，报40.6港元/股，创历史新高。 中兴通讯(0763) < w 10-09 10:51:34 通 40.600 额 17.8亿 股本 47.84亿 市盈™ 22.9 万得 盘口 4.620 12.84% 换 6.18% 市值 2521亿 市净 2.37 A股 50.20 +4.56 +9.99% 溢价(A/H) +35.31% 分时 五日 月K 更多 日K 圈K (0) 30分钟 60分钟 90分钟 120分钟 室K 卡年K 年K 叠加 - 设均线 - MA5:29.434↑ 10:23.567↑ 20:21.339↑ 前复权 44.008 - 40-500 · 23.438 2.868 2.868 2007-03 2010-12 2015-12 2020-12 2025-10 10月9日盘中，中兴通讯A股涨停，成交额超120亿元。 | W | | 中兴通讯(000063) 交易中 10-09 10:50:03 融 通 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 50.20 | | 额 121亿 股本 47. ...

每经AI快讯，10月9日，中兴通讯H股涨超12%，创历史新高。 （文章来源：每日经济新闻） ...

中兴通讯H股涨超11%，创出历史新高。 ...

A股中兴通讯盘中触及涨停，成交额超100亿元。 ...

格隆汇10月9日｜A股中兴通讯涨停，成交额超100亿元；港股中兴通讯涨超10%。 ...

每经AI快讯，10月9日，中兴通讯(00763.HK)AH股齐涨，截至发稿，中兴通讯H股涨6.06%，报38.16港 元，成交额9.22亿港元；中兴通讯A股现涨超7%。 ...

Core Viewpoint - ZTE Corporation's stock has seen significant gains following the launch of its Co-Sight super intelligent agent at a global summit in Milan, indicating strong market interest and potential growth in AI solutions [1] Group 1: Stock Performance - ZTE's H-shares rose by 6.06% to HKD 38.16, with a trading volume of HKD 922 million [1] - A-shares of ZTE increased by over 7% [1] Group 2: Product Launch and AI Strategy - The Co-Sight super intelligent agent was unveiled, emphasizing "full-stack openness, efficient development, and ecological prosperity" to enhance AI agent customization for global developers and industry partners [1] - Co-Sight aims to address industry challenges such as high customization barriers, compatibility issues, and long implementation cycles [1] Group 3: Market Outlook and Growth Potential - Goldman Sachs highlighted ZTE's recent introduction of the SuperPod solution, which offers AI training and inference capabilities, supporting 64 to 10,000 interconnected GPUs [1] - The solution provides greater flexibility for enterprise clients as AI workloads increase, while also reducing initial investment costs [1] - With rising demand for AI computing in mainland China and ZTE's comprehensive layout in AI servers, storage, and cooling products, Goldman Sachs maintains a positive outlook on ZTE's growth potential in the enterprise AI market [1] - The firm projects that ZTE's enterprise ICT business will contribute 29%, 31%, and 33% to total revenue from 2025 to 2027, with an expected annual compound growth rate of 17% for this segment [1]

Core Viewpoint - ZTE Corporation's stock has seen significant gains following the launch of its Co-Sight super intelligent agent at a global summit in Milan, indicating strong market interest and potential in AI solutions [1][2] Group 1: Stock Performance - ZTE's H-shares rose by 6.06% to HKD 38.16, with a trading volume of HKD 922 million, while A-shares increased by over 7% [1] Group 2: Product Launch and AI Strategy - The Co-Sight super intelligent agent was unveiled, emphasizing "full-stack openness, efficient development, and ecological prosperity" to enhance AI agent customization for global developers and industry partners [1] - Co-Sight aims to address industry challenges such as high customization barriers, compatibility issues, and long implementation cycles in AI [1] Group 3: Market Outlook and Growth Potential - Goldman Sachs highlighted ZTE's recent launch of the SuperPod solution, which offers AI training and inference capabilities, supporting 64 to 10,000 interconnected GPUs [2] - The SuperPod system provides greater flexibility for enterprise clients as AI workloads increase, while also reducing initial investment costs [2] - With rising demand for AI computing in mainland China and ZTE's comprehensive layout in AI servers, storage, and cooling products, Goldman Sachs maintains a positive outlook on ZTE's growth potential in the enterprise AI market [2] - The firm projects that ZTE's enterprise ICT business will contribute 29%, 31%, and 33% to total revenue from 2025 to 2027, with an expected annual compound growth rate of 17% for this segment [2]

Summary of ZTE (0763.HK) Conference Call Company Overview - **Company**: ZTE Corporation (0763.HK) - **Market Cap**: HK$174.9 billion / $22.5 billion - **Enterprise Value**: HK$192.7 billion / $24.8 billion - **Current Price**: HK$36.56 - **12-Month Price Target**: HK$38.40 (Upside: 5.0%) for H-shares; Rmb59.50 (Upside: 30.4%) for A-shares [1][2][20] Key Industry Insights - **Enterprise AI Market**: ZTE has introduced the SuperPod system, a cost-effective solution for AI training and inferencing, which supports interconnection of 64 to 10,000 GPUs. This positions ZTE favorably in the growing enterprise AI market in China [2][21]. - **Revenue Contribution**: The enterprise ICT business is expected to contribute 29% in 2025, 31% in 2026, and 33% in 2027 to total revenue, with a projected CAGR of 17% from 2025 to 2027 [2][19]. Financial Performance - **Revenue Estimates**: - 2025E: Rmb147.84 billion (up 1% from previous estimate) - 2026E: Rmb164.13 billion (up 1%) - 2027E: Rmb177.93 billion (up 1%) [3][19]. - **Net Income Estimates**: - 2025E: Rmb8.76 billion - 2026E: Rmb9.90 billion - 2027E: Rmb11.01 billion [3][19]. - **Earnings Per Share (EPS)**: - 2025E: Rmb1.83 - 2026E: Rmb2.07 - 2027E: Rmb2.30 [3][19]. Margins and Ratios - **Gross Margin**: Expected to decrease slightly due to a change in product mix, with 2027E gross margin at 30.5% [3][19]. - **P/E Ratios**: - 2025E: 18.3x - 2026E: 16.2x - 2027E: 14.5x [13][19]. - **Dividend Yield**: Projected to be 1.9% in 2025, increasing to 2.4% by 2027 [7][19]. Market Outlook - **Valuation**: The current valuation is considered fair, leading to a Neutral rating despite positive growth prospects in the enterprise AI sector [2][19]. - **Risks**: Key risks include demand fluctuations in telecom infrastructure, market share changes, and margin improvements. Non-operating gains or losses could also impact estimates significantly [31][19]. Additional Insights - **Revenue Mix**: There is an increasing contribution from non-telecom business segments, indicating diversification in revenue sources [21][19]. - **Market Position**: ZTE is ranked 3rd in M&A potential within its sector, reflecting a low probability of being an acquisition target [7][19]. This summary encapsulates the critical insights from the conference call regarding ZTE's strategic positioning, financial outlook, and market dynamics.