晨星分析师Ivan Su研报称从长远来看快手科技的AI投资可能进一步有利于其广告收入。尽管快手科技第二季度收益超出预期但

智通财经
Aug 25, 2025
晨星分析师Ivan Su研报称从长远来看快手科技的AI投资可能进一步有利于其广告收入。尽管快手科技第二季度收益超出预期但其优于预期的表现主要是由电子商务及其AI视频生成工具可灵推动的这些是长期业绩可见度较低的业务。这些AI投资推动第二季度广告收入实现了较低的个位数增长。晨星称“虽然这一速度落后于腾讯但我们仍然认为未来还有很长的持续改进空间。”快手科技派发20亿港元的特别股息是一个积极信号反映了管理层将多余净现金返还给股东的意图并指出快手科技股价的进一步上行空间应会来自可灵该工具的商业化仍处于早期阶段。

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