截至2月27日,腾讯音乐股价已累计下跌19.35%,按56港币测算,当前对应2025E/2026E调整市盈率分别为16/14倍,回归到与腾讯控股相似水准线。此前,我们有过一个观点,在其他成分股业务没有出现显著突破的情况下,腾讯控股因其业务稳定性,其估值水准是所有中概互联网的参考线,就现有中概成分股表现,这一格局尚未改变。2025年8月我们发布腾讯音乐中期报告《从“听歌”到“生态”:增长引擎全面提速...
Source Link截至2月27日,腾讯音乐股价已累计下跌19.35%,按56港币测算,当前对应2025E/2026E调整市盈率分别为16/14倍,回归到与腾讯控股相似水准线。此前,我们有过一个观点,在其他成分股业务没有出现显著突破的情况下,腾讯控股因其业务稳定性,其估值水准是所有中概互联网的参考线,就现有中概成分股表现,这一格局尚未改变。2025年8月我们发布腾讯音乐中期报告《从“听歌”到“生态”:增长引擎全面提速...
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