高盛研究部股票策略分析团队发布的最新研报提到近期的“反内卷”行动如果成功可能通过三大相互关联的渠道提升企业盈利能力。该团

智通财经
Aug 20, 2025
高盛研究部股票策略分析团队发布的最新研报提到近期的“反内卷”行动如果成功可能通过三大相互关联的渠道提升企业盈利能力。该团队还提到从行业角度来看在利润率回归正常的情况下潜在的供给减少和行业整合有望推动内卷行业盈利到2027年整体提高53%;在乐观情景下市场盈利增厚幅度有望达到14%。高盛研究部股票策略分析团队还认为尽管反内卷题材的代表性标的近期跑赢大盘但部分行业市值仍较正常化水平存在低估尤其是水泥、光伏和化工行业其行业框架显示这些行业的政策上行空间定价具有吸引力。

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