国海证券：港股互联网龙头普遍具备性价比关注腾讯控股、阿里巴巴等

陈梦竹海外研究...

02/18

一、2025年初以来恒生科技板块估值持续回升，10月以来有所震荡，互联网龙头公司估值普遍具备性价比以AI大模型为核心的新一轮竞争，受到Deepseek开源及模型普惠化带来商业化ROI改善，国产AI迎来估值重塑，龙头互联网平台是本轮的中坚力量，兼具AI大模型能力+capex投入（包括支持国产算力）、人才投入能力+应用能力等，带来年初以来恒生科技板块估值的持续回升，但由于海外流动性、宏观环境、公司...

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国海证券：港股互联网龙头普遍具备性价比 关注腾讯控股、阿里巴巴等

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国海证券：港股互联网龙头普遍具备性价比关注腾讯控股、阿里巴巴等