《大行報告》大和:抖音拓展外賣服務 料對美團(03690.HK)短期威脅有限
大和發表報告指,市傳字節跳動旗下抖音將拓展外賣服務,並與多間物流商合作,目前正於北京、上海和成都等重點一、二線城市試行服務。
該行認為,抖音在短期內比較像是為品牌餐廳提供促銷渠道,從而按實際交易價值收取約1%至2%佣金,相信短期內對美團(03690.HK)外送市場佔有率影響有限。該行又指,抖音上的大部分GMV都主要來自於用戶瀏覽視頻時的衝動購物,對比美團則是用戶基於需求而進行搜索,加上中小餐館可能無法向抖音KOL支付佣金,限制字節跳動在低線城市的業務拓展。
大和預測,除非字節跳動加強在直營交付的投資,否則料其對美團的市場份額影響有限。該行重申對內地互聯網行業的正面評級,並看好美團在本地化垂直服務領域的優勢,給予「買入」評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.