智通财经APP获悉，德适-B(02526)盘中涨超10%，截至发稿，涨8.85%，报472.4港元，成交额1176万港元。
消息面上，9月以来，GPT-6 Astra、Claude Fable 5.1等十余款全球旗舰大模型密集发布，AI板块再度重回市场交易主线。针对港股AI应用的配置逻辑，华泰证券明确观点指出，在新需求叙事全面确认前，AI应用赛道的筹码结构显著优于硬件，短期相对占优；而港股软件股的β属性强于A股，选股的核心锚点，始终是营收增速环比提速，业绩为王。
2026年中报显示，德适上半年实现营收1.087亿元，同比增长21.0%；其中模型服务收入达9454.1万元，同比大幅增长101.1%，占总收入比重升至86.9%。在多数港股AI应用标的仍处于 “概念验证、收入微薄” 的阶段，德适已经用近九成的收入占比，验证了商业模式的可行性，业绩兑现度在板块内处于领先水平，符合 “营收增速环比提速” 的核心选股框架。
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