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中国大型互联网公司近期的抛售潮已将部分企业的估值推至历史低点,其中腾讯的本益比降至创纪录的11倍,而阿里巴巴与腾讯今年累计流失了3180亿美元的市值,导致恒生科技指数下跌18%。

投资人纷纷抛售中国大型科技股,主要源于担心这些公司无法从其庞大的人工智能投资中获得足够的回报,同时中国疲软的消费市场和低迷的经济增长也持续对依赖大众消费的企业施加压力。

此外,许多投资人选择卖出中国互联网股票以筹集资金转投南韩及台湾的AI硬体股,但也有分析师指出目前估值已便宜到不容忽视,且市场可能低估了中国网路巨头在其生态系中利用AI创造的广泛价值。

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The selloff in China's largest internet firms has driven some valuations to record lows, with Tencent's P/E ratio hitting an all-time low of 11 times, while Alibaba and Tencent have lost a combined $318 billion in market value this year, dragging down the Hang Seng Tech Index by 18%.

Investors have been selling out of China's largest technology stocks due to concerns that these companies will fail to gain sufficient returns from their massive AI spending, alongside the nation's sluggish economic growth and weak consumer sentiment weighing on businesses.

Additionally, some investors are selling their holdings in Chinese internet firms to raise funds for AI hardware stocks in South Korea and Taiwan, although some analysts believe valuations are becoming too cheap to ignore and that the broader value created by AI within their ecosystems is being underestimated.
2026-07-05 (Sunday) · 0fb427eeba0e0b756e6403537da7b000d5f19fca