You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
研報掘金|招商證券:重申阿里巴巴“增持”評級 納入港股通或帶來10-15%增量成交流動性

招商證券發表報吿,阿里巴巴於昨日正式納入港股通,該行持續看好公司競爭地位改善,增速回升,盈利增長以及有吸引力的股東回報,重申“增持”評級,目標價維持123港元。該行指阿里巴巴在成功完成香港-美國雙重主要上後,於昨日正式納入港股通,該行預估納入港股通或帶來10-15%的增量成交流動性。

該行指阿里巴巴具多重驅動助力前景提升,第一是公司將經營重心轉向GMV增長、以及直播電商平台GMV增速的放緩,該行認為這在邊際上帶來了競爭地位的改善。第二,該行也看到得益於阿里巴巴一貫以來在商家和用户之間的平穩經營,以及近期同業出現的商家摩擦為其帶來了商家迴流的契機。第三是貨幣化率提升,該行預計隨着廣吿和佣金率的改善,廣吿和佣金收入提升將有助於縮小GMV和收入增長率的差距。該行預計阿里客户管理收入(CMR)將從2024年上半年中低個位數的按年增長恢復到今年下半年高個位數的按年增長。第四,菜鳥、本地生活服務和國際電商等其他板塊的虧損持續減虧,管理層計劃在24個月內實現盈虧平衡。

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.
uSMART
Wealth Growth Made Easy
Open Account