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大和:重申內地科網股積極看法 首選騰訊(0700.HK)等4股
格隆匯 06-18 13:48
大和發表的研究報告指,留意到5月線上消費及物流有進一步復甦,當中線上零售的商品交易額按年增長22%,食物及其他商品則升37%及14.9%,而衣物則跌6.8%。此外內地數據顯示期內物流運力有所提升,派遞的包裹按年增長41%,總計今年首五月增長亦達18.4%。在線上遊戲方面,自2018年12月以來內地已審批2,278只遊戲,而5月份《王者榮耀》仍然是內地營收最高的遊戲,主要受惠到五一的大規模推廣,而受惠《PUBG Mobile》表現強勁,騰訊(0700.HK)依然是海外市場中排名居首的遊戲發行商。在視頻方面,雖然5月份有多部劇集推出,但主要線上影音平台的每週活躍用户數字亦有下跌。
該行重申對行業看法正面,首選騰訊、阿里(BABA)、京東(JD)及網易(NTES),評級均為“買入”,看好騰訊遊戲產品線強勁,而今年下半年社交廣告及金融科技業務亦見上行勢頭,並預期小程序及企業應用等流量將升。此外該行亦料阿里巴巴(9988.HK)首財季收入將有強勁反彈,另外推薦內容及淘寶直播等亦有助帶動下半財年收入表現。另外該行料京東(9618.HK)利潤擴張勢頭在今年將持續,而新用户及消費增長等亦有望維持,併成重估因素之一。此外該行估計新遊戲推出等將成網易(9999.HK)下半年的股價催化劑。

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