灵境大模型

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高盛:人形机器人行业显著进步 予快手-W(01024)目标价68港元
智通财经网· 2025-07-31 03:01
中国人形机器人目前应用范围更广,大会上轮式机器人演示多于双足机器人,行业获得了显著进步,具 体体现在:(1)今年对应用场景的探索更具针对性和积极性,涵盖制造业、仓储物流、消费零售、家庭 及老年护理等领域;(2)产品有了显著改进,人形机器人更多地走下展示台,进行互动任务演示;(3)工作原 型明显趋向于自动导引车(AGV)式的轮式底座,而非全驱动的双足行走,这表明行业正务实地转向近期 可商业化的方向,高盛注意到这可能对行星滚柱丝杠组件类股票产生负面影响;(4)成本曲线进一步下 降,但降幅并不显著。尽管如此,操作仍然是核心挑战,特别是在成功率、稳健性和可靠性方面。 智通财经APP获悉,高盛发布研报称,世界人工智能大会调研显示,人形机器人行业的显著进步令高盛 备受鼓舞。同时快手-W(01024)展示了其最新的灵境大模型升级成果,主要亮点包括推出灵境大模型"灵 动画布"和多图参考功能,以及应用场景和企业客户渗透率的稳步扩大,该行认为灵境大模型2025年的 收入有望达到1.4亿美元以上,下一个值得关注的事件是8月底2025年业绩公布后其关于灵境大模型的指 引更新,予12个月目标价为68港元。 ...
高盛:关于中国医疗健康、中国软件行业、香港地产、港交所、友邦保险等的最新观点
Zhi Tong Cai Jing· 2025-07-30 15:16
Group 1: Hong Kong Conglomerates and Real Estate - The rating for Jardine Matheson has been upgraded to "Buy" due to expected earnings improvements driven by Dairy Farm and HKLand [1] - Hong Kong real estate rental companies have outperformed developers, with commercial rents stabilizing earlier than expected [1] - Goldman Sachs favors companies emerging from high capital expenditure cycles, those improving shareholder returns through dividends or buybacks, and those with management or strategic changes [1] Group 2: Chinese Healthcare - The "silver economy" is gaining attention, with the elderly population (50+) expected to drive significant growth in healthcare spending, projected to increase from 221 billion RMB (31 billion USD) in 2024 to 963 billion RMB (135 billion USD) by 2035, at a CAGR of 14.3% [2][3] - High-end medical services not covered by national insurance are expected to benefit from increased out-of-pocket spending by this demographic [3] - Key stocks benefiting from this trend include Aier Eye Hospital, Puren Eye Hospital, and Zhifei Biological Products, with ratings upgraded to "Buy" [3] Group 3: Hong Kong Stock Exchange - The average daily turnover of cash stocks on the Hong Kong Stock Exchange has reached a historical high of over 200 billion HKD, despite stock prices being approximately 20% lower than their peak in 2021 [5][6] - Goldman Sachs has raised EPS estimates for 2025-2027 by about 4% and increased the 12-month target price by 11% to 500 HKD, maintaining a "Buy" rating [6] - Key factors that could drive stock price increases include A-shares listing in H-shares, increased ADR trading, and narrowing bid-ask spreads in cash markets [6] Group 4: Chinese Software Industry - The Chinese software industry is expected to see revenue growth in 2025, driven by improved customer order momentum, although profit recovery may take longer [11] - Key focus areas for upcoming earnings reports include AI product upgrades, IT spending outlook, and new business opportunities [11] - Preferred stocks include Kingsoft Office, Kingdee International, and Yonyou Network, which are favored for their early adoption of AI monetization and healthy cash flows [11]