东方证券研报指出，6月13日，广电运通自主研发的望道大模型成功通过广东省生成式人工智能服务备案。目前，望道大模型已在金融、政务等领域开花结果，赋能重点项目并揽获国家级荣誉。公司有望沿 “行业化 + 轻量化” 路径，深化 “AI in all” 战略，加速AI与千行百业融合，受益于AI大浪潮。数字人民币业务方面，公司具备全栈技术服务能力，硬件上提供多形态硬钱包及智能数币 ATM，深度参与运营兑换，软件上为商业银行等提供智能合约等生态产品。由于公司业务蓬勃发展，但营业成本增长略超预期，上调25年公司收入预期下调毛利率预期，参照可比公司，认为公司合理估值水平为2025年40倍市盈率，对应目标价16.80元，维持“买入”评级。
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