研報掘金丨海通證券:維持科大訊飛“優於大市”評級,2025年公司AI業務有望“全面開花”
海通證券研報指出,3月初,科大訊飛(002230.SZ)發佈的首個深度推理模型——訊飛星火X1 迎來全新升級。認爲2024年公司已經找到了大模型紅利兌現的關鍵鑰匙:結合通用底座、工具鏈和知識工程,訊飛星火擁有從頂層規劃到執行落地的全套解決方案,包含“建算力、理數據、訓模型、落場景、保安全、精運營”,而面向2025,訊飛星火的戰略生態位非常清晰:堅持自主可控、面向民生剛需、面向國家戰略需求以及賦能科研與生產。2025年,訊飛星火的5場“必贏之戰”包括:在大模型底座能力上,全棧自主可控,數學、代碼、語言理解等重點能力領先,語音大模型全面引領,OCR 能力領先;教育、醫療、司法、公安行業第一,汽車、金融、運營商、央國企行業第一;學習、辦公領域軟硬一體化行業第一;AI for Science 行業引領;多語言大模型爲世界提供第二種選擇。認爲公司在AI領域已經擁有了深厚的積累,找到了自身在AI 領域發展的道路,伴隨星火大模型的持續迭代,公司在AI 大模型領域的競爭實力也在不斷增強,目前在部分細分領域已經處於領先地位,而在清晰的AI 發展戰略的引領下,2025年有望成爲公司AI業務“全面開花”的一年,公司全年業績的高增值得期待。對應6個月合理價值區間爲57.74-69.29元,維持“優於大市”評級。
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.