智通财经APP获悉，明源云(00909)跌超6%，截至发稿，跌6.17%，报1.14港元，成交额2186.89万港元。
消息面上，近日，明源云发布2026年中期业绩，收入5.25亿元，同比减少13.3%；毛利润4.16亿元，同比减少14.4%；期内利润50.3万元，同比减少96.3%；经调整净利润1288.1万元，同比减少61.1%。报告期内，公司云服务收入为4.51亿元，同比下降14.1%，占整体收入85.8%(2025年同期：86.6%)。云服务收入下降主要由于行业筑底修复进程尚未完成，新签约规模有所收缩；此外，历史签约下滑对递延收入的影响逐步体现，令整体收入承压。
光大证券研报指出，26H1明源云销售及推广、一般及行政、研发费用分别同比下降20.2%、13.7%、15.7%，推动经营亏损同比收窄20.6%至0.52亿元。该行认为，持续完善AI产品体系，降本增效驱动经营亏损收窄。鉴于地产需求复苏仍需时间，该行下调明源云26-27年营收预测至11.6/10.6亿元(与上次预测-7%/-15%)，新增28年营收预测10.2亿元；该行维持其“增持”评级。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.