大行评级丨杰富瑞:可灵AI加快货币化及具多个竞争优势,予快手买入评级,目标价81港元

格隆汇
26 Jun

杰富瑞发表报告,指该行从快手(1024.HK)北京机构投资者会议所悉,快手旗下可灵AI在数据观测、算力及AI才能上领先;可灵具差异化定价策略及庞大整体潜在市场(TAM);在多个推动力下,下半年线上市销收入料按年上升;以及快手在电商上市占扩张,且618推广较对上一年更趋理性;在多个业务层面上利润率向好。该行对快手予买入评级,目标价81港元。报告提及,可灵AI加快货币化及有多个竞争优势,具强劲用户粘性及良好产品体验。在收入组成上,七成收入来自专业消费者的订阅,三成来自商业客户API(应用程式界面)需要。地域上而言,七成来自海外市场,三成来自国内。该行称,视频内容生产潜在市场庞大,料全球达1200亿美元,分散于广告、戏剧及电影、动画及短视频。可灵AI降低视频生产成本,数字人解决方案可助广告客户及商户更佳分配资源(如在非旺季)。

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