《大行》海通国际首次覆盖知乎-W(02390.HK)予“优于大市”评级 目标价14.8元

阿斯达克财经
Dec 02, 2025

海通国际研报指,首次覆盖知乎-W(02390.HK) 予“优于大市”评级,以预测2025财年市销率1.2倍计,目标价14.8元。该行认为公司的生成式AI在问答扩展、个性化推荐及广告创意生成等场景的深度融合,有机会撬动平台内容供给与商业转化双端效率,带来新的变现弹性。该行预测,知乎2025第四季度、2025财年总收入分别为6.4亿元人民币、27.5亿元人民币,分别按年减少25%及24%。但看好知乎在...

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