研報掘金丨華安證券:維持傳音控股“買入”評級,期待AI賦能加速
華安證券研報指出,傳音控股(688036.SH)2024年歸母淨利潤55.9億元,同比增長0.96%,Q4歸母淨利潤16.9億元,同比增長2.0%,環比增長60.4%。4Q24扭轉環比下行態勢,期待AI賦能加速。2024年在拉美、東南亞、中東等地區都有明顯增幅,具體來看,根據諮詢機構canalys 的數據,公司2024 年在拉美地區出貨量達12.8 百萬部,同比增長約40%;在東南亞出貨15.5百萬部,同比增長約41%;在中東(不含土耳其)出貨8.3 百萬部,同比增長約9%。傳音在擁抱AI方面,表現較爲積極,如旗下Infinix品牌已經介入DeepSeek-R1 滿血版,支持XOS 14.5及以上版本的 Infinix 機型可通過升級使用,3月份將發佈的Note系列也會接入DeepSeek-R1。維持公司“買入”評級。
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