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.
華泰引述阿里巴巴(09988.HK)指平台核心商業需求復甦步入正軌
阿思達克 06-16 14:45
華泰金控發表報告表示,該行於上周四(11日)舉辦阿里巴巴(09988.HK)業績非交易路演,公司指自3月以來公司中國零售平台的需求恢復,公司認為定制信息流和直播變現仍有提升空間,以推動長期客戶管理收入增長;第二是通過支付寶為本地生活服務提供入口,生態系統協同效應將得到增強;第三是將繼續投資於雲基礎設施和業務發展,相比盈利能力,更重視市場份額增長;第四是公司管理層將阿里(通過平台力量和基礎設施部署)有效地連接品牌與客戶的能力視為其競爭優勢。

該行稱,阿里巴巴指出得益於快速消費品(FMCG)和消費電子產品強勁的商品交易總額(GMV)增長,以及服裝品類的復蘇,其中國零售平台需求自3月份以來強勁回升。公司管理層認為其信息流和直播目前的變現程度不高,隨著信息流和直播越來越受歡迎,此兩者將支撐長期客戶管理收入增長。

阿里巴巴強調,盡管新冠疫情對2020財年第四財季造成了負面影響(物流和商業運營受阻),但其中國零售平台(淘寶和天貓)於2020財年的GMV淨增長依然健康。公司管理層對2021財年阿里的中國零售平台GMV實現至少1萬億億人民幣的淨增長仍保持信心。

佣金方面,阿里巴巴預計(由於天貓平台服務費減免以及天貓超市的自營業務在GMV中的比重提升)佣金增長,和天貓實物商品GMV增長之間的差距將繼續存在,但由於GMV結構由三方向自營的轉移趨緩,以及服裝品類的強勁復蘇,這一差距將在2021財年縮小。

華泰金控引述阿里巴巴指,公司計劃繼續投資於雲基礎設施和技術升級,預計2021財年雲業務將保持正增長。過去幾個季度,雲業務在經營利潤層面接近盈虧平衡,但阿里巴巴表示短期內相比盈利能力,將更重視市場份額增長 。該行維持對在美上市阿里巴巴(BABA.US)「買入」評級和目標價258.6美元。按阿里1股美股兌換8股港股計算,目標價折合250.5港元。(wl/u)

~

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 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. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account