---
title: "里昂：上調金山雲目標價至 5.5 美元 第三季業績受公有云表現強勁及企業雲回升所帶動"
description: "里昂將金山雲目標價上調至 5.5 美元，第三季業績受公有云強勁表現及企業雲回升推動，總收入同比增長 16%。經調整 EBITDA 利潤率上升至 9.8%。公司與小米及金山軟件續訂協議，交易收入及融資上限提高。預計第四季營收同比增長加速至 18%，EBITDA 利潤率改善至 13%。調高 2024 和 2025 財政年度營收及淨利預測，以反映 AI 業務增長。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/220287240.md"
published_at: "2024-11-21T06:03:00.000Z"
---

# 里昂：上調金山雲目標價至 5.5 美元 第三季業績受公有云表現強勁及企業雲回升所帶動

> 里昂將金山雲目標價上調至 5.5 美元，第三季業績受公有云強勁表現及企業雲回升推動，總收入同比增長 16%。經調整 EBITDA 利潤率上升至 9.8%。公司與小米及金山軟件續訂協議，交易收入及融資上限提高。預計第四季營收同比增長加速至 18%，EBITDA 利潤率改善至 13%。調高 2024 和 2025 財政年度營收及淨利預測，以反映 AI 業務增長。

里昂發表報告指，金山雲第三季業績大致符合預期，總收入按年上升 16%，主要受公有云表現強勁及企業雲回升所帶動；經調整 EBITDA 利潤率進一步上升至 9.8 %。公司與小米及金山軟件續訂框架協議，合作關係更緊密，交易收入及融資上限提高成為亮點。同時關注小米自動駕駛帶來的收入上升空間。里昂預期金山雲第四季的營收按年增長將加速至 18%，而經調整 EBITDA 利潤率料將進一步改善至 13%。該行調高 2024 和 2025 財政年度營收預測各 1% 和 6%，上調經調整淨利預測 6400 萬和 1 億元，以反映強勁的 AI 業務增長。該行將目標價由 3 美元上調至 5.5 美元，維持 “跑贏大市” 評級。

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