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研報掘金丨中航證券:維持拓爾思“買入”評級,邁入AI產業智能躍遷的加速期
格隆匯 08-06 15:23
中航證券研報指出,拓爾思從數據基因出發,邁向“中國版Palantir”。近期,公司成功中標中國銀行智能消費AI項目,中標金額近2000萬元,系該行在AI智能化應用領域最大單體軟件項目,由公司獨家承建。項目將深度融合拓爾思自研大模型Agent技術,助力客户消費業務智能化升級。與此同時,公司開源情報系統、拓天公安大模型、智眼圖像平台等產品在政務、公安等特種行業持續落地。自研“拓天大模型”亦已入選賽迪顧問2025年安全能力測評行業第七。公司憑藉深厚的語義理解、多模態融合和行業實戰能力,正加速構建“數據平台+AI中台+Agent應用”全鏈條能力閉環。公司在數據與AI融合領域具備技術底座+客户積澱+行業經驗三重優勢,其發展路徑與Palantir高度同源。在國產數據要素政策、AIAgent加速落地背景下,公司有望憑藉數據治理+智能決策能力率先在安全政務、智慧公安、金融風控等領域構建起“國產Palantir”式競爭力,邁入AI產業智能躍遷的加速期。預計2025—2027年公司歸母淨利潤分別為0.34/0.43/0.53億元,EPS分別為0.04/0.05/0.06元,對應目前PE分別為650/518/415倍,維持“買入”評級。
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