塗鴉智能上榜大摩中國出海股關注名單 看好其海外市場發展及國內製造供應鏈優勢
摩根士丹利發佈中國出海股關注名單,該名單共覆蓋20只股票。其中,塗鴉智能(NYSE: TUYA,HKEX: 2391)上榜。大摩指出,在全球市場收入佔比較大的軟件及信息技術服務公司中,尤其看好塗鴉智能對國外終端消費者需求的高收入構成,這有助於其分散風險。塗鴉智能還在東盟和拉丁美洲等新興市場找到了新的增長點。在過去兩年中,公司將其全球國際化收入佔比從75%提升到了82%,同時將美國收入比例從25%降至不足20%,降低了整體地緣政治風險。
此外,塗鴉智能利用中國的製造供應鏈優勢,通過OEM(原始設備製造商)為全球家電品牌提供服務。全球通脹的回落有利於消費電子產品終端需求的復甦。跨境電商的興起也幫助塗鴉智能的客户擴展至更多的家庭,並提高智能家居產品的滲透率。之前的下行週期迫使一批全球及中國市場的競爭對手退出,從而為塗鴉智能帶來了更好的競爭環境。
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