--- title: "#外资研报" topic_id: 22258848144422421 created_at: 2026-09-02T08:22:37.716+0800 source: zsxq type: topic cssclasses: zsxq-vault --- # #外资研报 - 序号：352 - 星球链接：[打开网页](https://wx.zsxq.com/group/15522451881222/topic/22258848144422421) - 附件：图片 0，音频 0，文档 9 - 音频文件：_无音频_ ## 图片 _无图片_ ## 正文 详情页仍未获取到全文。原始列表正文可能被截断。 ## 总体总结 主题正文 1. 详情页仍未获取到全文。 2. 原始列表正文可能被截断。 附件总结 GS-西门子能源（ENR1n.DE）：聚焦核心业务有望推升利润率与股东回报价值？.pdf 1. 4FOEZFo4qW9ZfV8O9RaQoMpPoMrPeRqQyQiNmOtNaQoPpPvPmRqPuOqMqP GS-稀宇科技-0100.HK-2026年上半年业绩分析：ARR和研发投入增加，追求模型智能与成本效率的前沿；买入（摘要）-20260827.pdf 1. BGRHZFm2rXfXaYaQ8QbRtRqQnPqOiNpPyQfQtRoR9PoPrMNZnOsQMYsOoM GS-新宝股份-002705-2026年二季度业绩发布后更新数据.pdf 1. AHPFUIiAsYfXaY6McM6MtRqQsQtNfQnNvNiNpNpQ9PqRoPMYnNrOuOqMqN GS-新易盛(300502.SZ) - 800G_1.6T光模块放量带动环比增长；2Q26营收超预期；买入 - 2026-08-25_Ting Song，Allen Chang(原文).pdf 1. companies under our rated coverage from 1 to 3, with 1 representing high (30%-50%) probability of the company becoming an acquisition target, 2 2. representing medium (15%-30%) probability and 3 representing low (0%-15%) probability. For companies ranked 1 or 2, in line with our standard 3. departmental guidelines we incorporate an M&A component into our target price. M&A rank of 3 is considered immaterial and thereore does not 4. InnoScience, Inspur, Insta360, Inventec, JCET, Kematek, King Slide, Kingdee, Kingsoft Office, LandMark, Largan, Lenovo, Lingyi, Luxshare (A), Luxshare 5. Goldman Sachs expects to receive or intends to seek compensationor investment banking services in the next 3 months: Eoptolin k (Rmb412.00) 6. Goldman Sachs had an investment banking services client relationship during the past 12 months with: Eoptolink (Rmb412.00) 7. As of July 1, 2026, Goldman Sachs Global Investment Research had investment ratings on 3,104 equity securities. Goldman Sachs assigns stocks as Buys 8. Goldman Sachs & Co. LLC and therefore may not be subject to FINRA Rule 2241 or FINRA Rule 2242 restrictions on communications with a subject GS-亚洲策略展望：全球物理AI、潍柴动力、腾讯、CXMT、美团、比亚迪、中国银行、M...-20260831.pdf 1. Asian Equity Perspectives – Into the home stretch. We remain constructive on Asian Goldman Sachs (Asia) L.L.C. 2. equities and raise our 12-month MXAPJ Index target to 1,120 from 1,080, driven by Caleb Chan 3. exceptionally strong profit growth across tech hardware supply chains. We upgrade Goldman Sachs (Asia) L.L.C. 4. Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors 5. should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. 6. Investors should consider this report as only a single factor in making their investment decision. For Reg AC 7. www.gs.com/research/hedge.html. Analysts employed by non-US affiliates are not registered/qualified as research 8. which added 5,488 net stores in the first half, alongside resilient positive per-store sales GS-松下控股（6752.T）——CEO交流会.pdf 1. 1IQGVJp5qW8YcW8OdN6MsQmMmOrPfQrRvNjMmOtO8OpOmMMYoNvNuOoOsN GS-索菲亚-002572-2026年二季度业绩分析：需求压力拖累增长，更加注重盈利能力；中性-20260827.pdf 1. 1IQGXHiArX8YfV6M9RaQpNpPpNpRlOqQuMlOoMwO8OqRqRvPpOrQxNrMmO GS-通化东宝-600867-业绩分析：2026年上半年收入符合预期，净利润高于预期；卖出-20260825.pdf 1. 0JyAUIm2sYdVbZ8OdN6MnPqQpNpRjMqQyQlOmOoRaQpOpONZqQoRuOpMrR GS-潍柴动力-000338-简要分析：2Q26总体净利润（同比+57％）大幅超预期，核心业务表现强劲；提升派息率；买入（摘要）-20260827.pdf 1. 4FRHVJjBrXeWeU6MbP9PpNmMmOtNjMqQxPiNtRyQ9PnMqRxNrQnPuOnNvM ## 文档 ### GS-西门子能源（ENR1n.DE）：聚焦核心业务有望推升利润率与股东回报价值？.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-西门子能源（ENR1n.DE）：聚焦核心业务有望推升利润率与股东回报价值？.pdf|GS-西门子能源（ENR1n.DE）：聚焦核心业务有望推升利润率与股东回报价值？.pdf]] #### 总结 1. 4FOEZFo4qW9ZfV8O9RaQoMpPoMrPeRqQyQiNmOtNaQoPpPvPmRqPuOqMqP #### 预览 [[assets/docs/260902_0822__外资研报__GS-西门子能源（ENR1n.DE）：聚焦核心业务有望推升利润率与股东回报价值？.pdf|GS-西门子能源（ENR1n.DE）：聚焦核心业务有望推升利润率与股东回报价值？.pdf]] ### GS-稀宇科技-0100.HK-2026年上半年业绩分析：ARR和研发投入增加，追求模型智能与成本效率的前沿；买入（摘要）-20260827.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-稀宇科技-0100.HK-2026年上半年业绩分析：ARR和研发投入增加，追求模型智能与成本效率的前沿；买入（摘要）-20260827.pdf|GS-稀宇科技-0100.HK-2026年上半年业绩分析：ARR和研发投入增加，追求模型智能与成本效率的前沿；买入（摘要）-20260827.pdf]] #### 总结 1. BGRHZFm2rXfXaYaQ8QbRtRqQnPqOiNpPyQfQtRoR9PoPrMNZnOsQMYsOoM #### 预览 [[assets/docs/260902_0822__外资研报__GS-稀宇科技-0100.HK-2026年上半年业绩分析：ARR和研发投入增加，追求模型智能与成本效率的前沿；买入（摘要）-20260827.pdf|GS-稀宇科技-0100.HK-2026年上半年业绩分析：ARR和研发投入增加，追求模型智能与成本效率的前沿；买入（摘要）-20260827.pdf]] ### GS-新宝股份-002705-2026年二季度业绩发布后更新数据.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-新宝股份-002705-2026年二季度业绩发布后更新数据.pdf|GS-新宝股份-002705-2026年二季度业绩发布后更新数据.pdf]] #### 总结 1. AHPFUIiAsYfXaY6McM6MtRqQsQtNfQnNvNiNpNpQ9PqRoPMYnNrOuOqMqN #### 预览 [[assets/docs/260902_0822__外资研报__GS-新宝股份-002705-2026年二季度业绩发布后更新数据.pdf|GS-新宝股份-002705-2026年二季度业绩发布后更新数据.pdf]] ### GS-新易盛(300502.SZ) - 800G_1.6T光模块放量带动环比增长；2Q26营收超预期；买入 - 2026-08-25_Ting Song，Allen Chang(原文).pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-新易盛(300502.SZ) - 800G_1.6T光模块放量带动环比增长；2Q26营收超预期；买入 - 2026-08-25_Ting Song，Allen Chang(原文).pdf|GS-新易盛(300502.SZ) - 800G_1.6T光模块放量带动环比增长；2Q26营收超预期；买入 - 2026-08-25_Ting Song，Allen Chang(原文).pdf]] #### 总结 1. companies under our rated coverage from 1 to 3, with 1 representing high (30%-50%) probability of the company becoming an acquisition target, 2 2. representing medium (15%-30%) probability and 3 representing low (0%-15%) probability. For companies ranked 1 or 2, in line with our standard 3. departmental guidelines we incorporate an M&A component into our target price. M&A rank of 3 is considered immaterial and thereore does not 4. InnoScience, Inspur, Insta360, Inventec, JCET, Kematek, King Slide, Kingdee, Kingsoft Office, LandMark, Largan, Lenovo, Lingyi, Luxshare (A), Luxshare 5. Goldman Sachs expects to receive or intends to seek compensationor investment banking services in the next 3 months: Eoptolin k (Rmb412.00) 6. Goldman Sachs had an investment banking services client relationship during the past 12 months with: Eoptolink (Rmb412.00) 7. As of July 1, 2026, Goldman Sachs Global Investment Research had investment ratings on 3,104 equity securities. Goldman Sachs assigns stocks as Buys 8. Goldman Sachs & Co. LLC and therefore may not be subject to FINRA Rule 2241 or FINRA Rule 2242 restrictions on communications with a subject #### 预览 [[assets/docs/260902_0822__外资研报__GS-新易盛(300502.SZ) - 800G_1.6T光模块放量带动环比增长；2Q26营收超预期；买入 - 2026-08-25_Ting Song，Allen Chang(原文).pdf|GS-新易盛(300502.SZ) - 800G_1.6T光模块放量带动环比增长；2Q26营收超预期；买入 - 2026-08-25_Ting Song，Allen Chang(原文).pdf]] ### GS-亚洲策略展望：全球物理AI、潍柴动力、腾讯、CXMT、美团、比亚迪、中国银行、M...-20260831.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-亚洲策略展望：全球物理AI、潍柴动力、腾讯、CXMT、美团、比亚迪、中国银行、M...-20260831.pdf|GS-亚洲策略展望：全球物理AI、潍柴动力、腾讯、CXMT、美团、比亚迪、中国银行、M...-20260831.pdf]] #### 总结 1. Asian Equity Perspectives – Into the home stretch. We remain constructive on Asian Goldman Sachs (Asia) L.L.C. 2. equities and raise our 12-month MXAPJ Index target to 1,120 from 1,080, driven by Caleb Chan 3. exceptionally strong profit growth across tech hardware supply chains. We upgrade Goldman Sachs (Asia) L.L.C. 4. Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors 5. should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. 6. Investors should consider this report as only a single factor in making their investment decision. For Reg AC 7. www.gs.com/research/hedge.html. Analysts employed by non-US affiliates are not registered/qualified as research 8. which added 5,488 net stores in the first half, alongside resilient positive per-store sales #### 预览 [[assets/docs/260902_0822__外资研报__GS-亚洲策略展望：全球物理AI、潍柴动力、腾讯、CXMT、美团、比亚迪、中国银行、M...-20260831.pdf|GS-亚洲策略展望：全球物理AI、潍柴动力、腾讯、CXMT、美团、比亚迪、中国银行、M...-20260831.pdf]] ### GS-松下控股（6752.T）——CEO交流会.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-松下控股（6752.T）——CEO交流会.pdf|GS-松下控股（6752.T）——CEO交流会.pdf]] #### 总结 1. 1IQGVJp5qW8YcW8OdN6MsQmMmOrPfQrRvNjMmOtO8OpOmMMYoNvNuOoOsN #### 预览 [[assets/docs/260902_0822__外资研报__GS-松下控股（6752.T）——CEO交流会.pdf|GS-松下控股（6752.T）——CEO交流会.pdf]] ### GS-索菲亚-002572-2026年二季度业绩分析：需求压力拖累增长，更加注重盈利能力；中性-20260827.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-索菲亚-002572-2026年二季度业绩分析：需求压力拖累增长，更加注重盈利能力；中性-20260827.pdf|GS-索菲亚-002572-2026年二季度业绩分析：需求压力拖累增长，更加注重盈利能力；中性-20260827.pdf]] #### 总结 1. 1IQGXHiArX8YfV6M9RaQpNpPpNpRlOqQuMlOoMwO8OqRqRvPpOrQxNrMmO #### 预览 [[assets/docs/260902_0822__外资研报__GS-索菲亚-002572-2026年二季度业绩分析：需求压力拖累增长，更加注重盈利能力；中性-20260827.pdf|GS-索菲亚-002572-2026年二季度业绩分析：需求压力拖累增长，更加注重盈利能力；中性-20260827.pdf]] ### GS-通化东宝-600867-业绩分析：2026年上半年收入符合预期，净利润高于预期；卖出-20260825.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-通化东宝-600867-业绩分析：2026年上半年收入符合预期，净利润高于预期；卖出-20260825.pdf|GS-通化东宝-600867-业绩分析：2026年上半年收入符合预期，净利润高于预期；卖出-20260825.pdf]] #### 总结 1. 0JyAUIm2sYdVbZ8OdN6MnPqQpNpRjMqQyQlOmOoRaQpOpONZqQoRuOpMrR #### 预览 [[assets/docs/260902_0822__外资研报__GS-通化东宝-600867-业绩分析：2026年上半年收入符合预期，净利润高于预期；卖出-20260825.pdf|GS-通化东宝-600867-业绩分析：2026年上半年收入符合预期，净利润高于预期；卖出-20260825.pdf]] ### GS-潍柴动力-000338-简要分析：2Q26总体净利润（同比+57％）大幅超预期，核心业务表现强劲；提升派息率；买入（摘要）-20260827.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260902_0822__外资研报__GS-潍柴动力-000338-简要分析：2Q26总体净利润（同比+57％）大幅超预期，核心业务表现强劲；提升派息率；买入（摘要）-20260827.pdf|GS-潍柴动力-000338-简要分析：2Q26总体净利润（同比+57％）大幅超预期，核心业务表现强劲；提升派息率；买入（摘要）-20260827.pdf]] #### 总结 1. 4FRHVJjBrXeWeU6MbP9PpNmMmOtNjMqQxPiNtRyQ9PnMqRxNrQnPuOnNvM #### 预览 [[assets/docs/260902_0822__外资研报__GS-潍柴动力-000338-简要分析：2Q26总体净利润（同比+57％）大幅超预期，核心业务表现强劲；提升派息率；买入（摘要）-20260827.pdf|GS-潍柴动力-000338-简要分析：2Q26总体净利润（同比+57％）大幅超预期，核心业务表现强劲；提升派息率；买入（摘要）-20260827.pdf]]