郭思治: 即月期指在20,000點左右轉倉
香港股票分析師協會副主席郭思治稱,受美股於上周五(26日)大幅急挫所累,港股昨日(29日)亦略見反覆,恆指早市先低開210點至19,960點,其後曾進一步跌至19,889點方漸見喘定並作技術性後抽,惟在買盤態度保守下,大市只是略為回升至20,073點已漸受規限,從走勢上看,大市雖稍見反覆,惟恆指暫仍能穩守於20天線(19,884點)及10天線(19,788點)之上,即是說,整個剛呈回穩之形態仍未受破壞,只是在買盤薄弱下,暫仍欠缺一股欲上衝之動力,至於短期後市能否再上試本月5日之高位20,283點,當需視乎資金之入市態度而定。
專注拓展中內地地下沉市場的匯通達網絡(09878.HK)近日公布2022年中期業績,報告顯示公司盈利能力持續提升,其中,上半年營收398.9億元人民幣(下同),按年增長33%,毛利11.5億元,按年增長49%;經調整歸母淨利1.9億元,按年增長58%;業績數據亮眼的主要原因是公司上半年服務以及交易各類收入均同步保持快速增長以及公司各項營運效率持續優化。
其中,公司會員店網絡持續擴增、黏性穩步提升,會員店服務層面,2022上半年公司新增會員店數量超過2萬家,總數超19.1萬家,按年增長22%。活躍會員店數量超過6.5萬家,按年增幅63%;SaaS訂閱用戶超11萬家,按年增幅55%。在jiayongdianqi、消費電子、農業生產資料、酒水飲料4大行業,上半年新建超過1,800+家的高粘性、經營公司自營商品為主的「產業標桿店」。
筆者留意到,公司會員店網絡持續擴增、會員店粘性穩步提升,與此同時,公司內部SaaS能力的持續優化、服務水平持續提高。銜接供應端與零售端的公司倉配能力進一步提升以及數字化雲倉雲配系統持續疊代優化,成功令物流履約成本占毛利比重持續降低,從而提升毛利水平。
目前,下沉市場依然具備廣袤的市場前景,匯通達作為專注營運內地下沉零售市場的龍頭企業,將有望憑借自身不斷強化的營運能力,在前景廣闊的內地下沉零售市場中獲取強勁的增長動力,值得關注。
(筆者為證監會持牌人)~
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