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一文綜合大行於阿里(09988.HK)公布業績後最新目標價及觀點 @ 2023-05-20T20: Back Hot News
Keyword:阿里巴巴 上季
Concept:阿里巴巴上季
阿里巴巴上季收取螞蟻集團投資收益按年減少56%
阿里巴巴上季經調整盈利升38% 全年升4%
▲ 【阿里巴巴業績】阿里巴巴上季經調整純利273.75億人幣勝預期 將派阿里雲作股息以分拆上市 正探索菜鳥、盒馬鮮生IPO
阿里巴巴上季經調整淨利潤增38%勝預期
內地消費仍處於恢復階段,摩根士丹利估計,阿里巴巴的中國商業(淘寶天貓等)GMV(交易額)在3月應已回復按年正增長,但1月至2月受疫情影響,可能會較預期為弱。該行估計,上季GMV按年下降3%,客戶管理收入(CMR)則按年跌5%。盈利方面,淘特、淘菜菜、盒馬的運營效率將繼續提升,可抵消CMR的疲弱,故預測中國商業的經調整EBITA(息稅及攤銷前利潤)按年增幅,會由上一季的1.3%加快至6%。
阿里巴巴(09988)上季收取螞蟻集團投資收益按年減少56%
富瑞亦將阿里巴巴目標價由214港元下調至176港元。富瑞指出,上季阿里巴巴收入大致符合預期,而中國商業經調整EBITA以及整體經調整純利均勝該行預期。該行期待阿里巴巴長期投資於用戶體驗,以便消費者提供一站式的購物體驗。
隨著中國放寬了防疫限制,網上購物趨勢明顯放緩,阿里巴巴(09988)及京東集團(09988)上季國內電商業務收入均錄得按年倒退。為了尋求新的增長點,中國電商企業「出海」已是大勢所趨,但受到地緣政治因素拖累,過程遇上諸多挫折。以銷售服裝為主的中國跨境電商巨頭SHEIN遭印度封殺後,仍費盡心思試圖重返當地市場,正正體現出中國與西方勢力關系惡化,導致中資企業在海外市場發展舉步維艱。

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