瑞銀料有更多中概股回港上市 疫情後看好遊戲及雲業務等機遇
瑞銀投資研究部中國互聯網主管劉源在電話會議上指,留意到疫情下雲業務、電商及遊戲業務均有較好表現,料疫情後企業均加快數據化,而過往內地的IT投入佔企業收入及整體GDP比例均低於國外發達國家,故疫情後有望加速投入,認為屬新機遇。
另外他亦看好遊戲板塊,認為上半年受疫情影響增速較快,而下半年亦有新遊戲推出,估計增速雖未能及疫情下般快,但總體而言仍會較強。在海外市場方面內地大型遊戲公司陸續獲得國際IP,相信市場份額提升將可帶動收入增速。但在廣告、內容業務方面,他認為復甦較慢或呈「W型」復甦,主要因為企業信心或受疫情打擊,短期將受壓。他續指,短期看好「618」電商銷售表現,主要因為一些過往以出口為主的商家均會嘗試轉戰線上,故「618」大家都積極推廣,估計成交總額(GMV)增速不錯。
劉源又估計將有更多在美國上市的大型中概股回港上市,認為來港上市可稍為減少美國方面的風險,另一方面亦有機會被納入互聯互通,同時亦可擴大投資者基礎。但中小型股份要來港則會較困難,因為或需要自美國退市或調整公司架構方能到港,故安排上較複雜。但他指出,一些尚未上市的企業現時仍會考慮美國市場,因為他們看得較為長遠,而且部分公司在美國或可獲更多投資者賞識。(el/u) ~
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