EPS on 脱水研报 https://reports.zhihai.me/tags/eps/ Recent content in EPS on 脱水研报 Hugo zh-cn Wed, 26 Aug 2026 23:15:40 +0800 摩根大通：阿里配股引发市场过度恐慌，算力回报具吸引力，重申"增持" https://reports.zhihai.me/posts/2026-08-26-jpm-alibaba-placement-overreaction/ Wed, 26 Aug 2026 23:15:40 +0800 https://reports.zhihai.me/posts/2026-08-26-jpm-alibaba-placement-overreaction/ <ul> <li>算力具备高回报：模型测算算力投资 IRR 达 22%、回本期 2.9 年，60% 基建占比下每投入 100 元可产生 22 元正净现值，印证了管理层&quot;ROIC 超 13%&ldquo;的指引。</li> </ul>