研報掘金丨華泰證券:第四範式為AI時代的企業服務龍頭,首予“增持”評級及目標價80.53港元
華泰證券研報指出,第四範式(6682.HK)專注企業級AI解決方案10年,發軔於決策類AI,業務包括先知平台與產品(標準化軟件/軟硬件一體機)、應用開發(定製化解決方案)。看好公司:1)以大客户為支點,開拓新行業,並提升已覆蓋行業中的滲透率,認為公司廣泛的行業覆蓋能夠規避個別行業週期帶來的收入下滑風險,同時看好公司在新進入的製造、醫療、零售領域逐漸開拓;2)憑藉穩固的企業服務軟件根基,以生成式AI重構企業軟件,提升客户體驗與開發效率。看好公司將生成式AI與企業軟件相結合,提升用户體驗,促進AI商業化落地。該行考慮到第四範式廣泛的行業覆蓋,客户羣體主要為大企業,給予公司6.8x 2024E PS,對應目標價80.53港元,首次覆蓋給予“增持”。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.