2月15日，中信建投发布研报，维持对欢聚集团（JOYY.US）的“买入”评级。研报认为，JOYY正在经历从“直播业务现金牛”向“高增长AdTech平台”的质变，其实质是复刻 AppLovin增长飞轮的战略蓄力期。当前市场已经完成对公司净现金价值的重估，而后续直播/广告/电商业务分部的进一步披露和业务UE改善，预计未来将带来公司估值的提振。全球程序化广告市场结构性转型AdTech平台构建核心护城河在...
Source Link2月15日，中信建投发布研报，维持对欢聚集团（JOYY.US）的“买入”评级。研报认为，JOYY正在经历从“直播业务现金牛”向“高增长AdTech平台”的质变，其实质是复刻 AppLovin增长飞轮的战略蓄力期。当前市场已经完成对公司净现金价值的重估，而后续直播/广告/电商业务分部的进一步披露和业务UE改善，预计未来将带来公司估值的提振。全球程序化广告市场结构性转型AdTech平台构建核心护城河在...
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