花旗发表报告指，快手(01024.HK) 股价昨日跌超过9%。除了AI相关股票的整体市场情绪疲弱外，该行认为与两个原因有关。第一是有媒体报道称快手在其应用程序中新增了外卖服务功能，若属实，该行认为此举的财务影响可能有限，因为该服务主要由美团(03690.HK) 提供，通过进一步合作，快手无需承担额外成本。
第二是市场对快手旗下视频生成模型可灵与竞争对手的比较存在一些担忧，但该行指仍看好可灵在中长期内对专业用户和企业的潜力，这得益于其先发优势和快速的技术升级。
该行预计快手2025年第二季度的表现将符合预期，并有可能超出此前对可灵2025年收入的指引。维持“买入”评级及目标价88元。(ha/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-08-12 16:25。)
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