
About this episode
腾讯控股发布的2025年年报显示出强劲的财务表现,归母净利润同比增长17%。然而,股价却因市场对其AI投资策略的担忧而下跌。尽管腾讯计划加大AI投入,减少股票回购,部分投资者对未来收益的可预期性表示疑虑。腾讯的AI赋能提升了游戏和营销业务的效率,显示出强大的盈利能力。与其他竞争对手相比,腾讯的稳健投资风格与财务纪律性在当前高利率环境中显得尤为重要。面对市场的分歧,长期投资者或将迎来布局的机会。
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