北森控股(9669.HK):长期受益于数字化转型 短期AI场景明确+ROI清晰 AI催化落地路径较快

中信建投证券
Apr 06, 2025

核心观点北森业务壁垒稳固,一体化架构驱动产品具备差异化优势。AI 面试官等产品ROI 可明确衡量,预计落地路径清晰。我们预计公司2025-27 年营业收入分别为9.5 亿/11.1 亿/13.1 亿元,同比增长10.8%/17.5%/18.0%;营业利润预计分别为-0.7 亿/-0.1 亿/0.3 亿,对应OPM -7.5 %/-1.3%/2 .1%;Non-IFRS 归母净利润预计分别为-0.5...

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