行业研究 | 微软\Meta披露最新季报,国产大模型公司登陆港股——软件行业2026年1月报

兴业研究
Feb 03

谷歌,Meta,大模型初创公司2025年11月软件政府侧需求继续收敛,企业侧需求企稳趋势持续。根据财政部数据,2025年1-11月,国内一般公共预算支出累计同比增速为1.4%,增速环比下降0.6pp,近4个月以来,软件行业政府侧需求持续收敛,这与2023年、2024年同期的趋势相反。全国国有企业营业总收入累计同比增速为1.0%,增速环比增长0.1pp,至11月,软件行业企业侧需求保持了连续5个月的...

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