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《大行报告》摩通:阿里遭罚款仅内地监管互联网巨头开端後 估美团及腾讯最易受政策影响
阿思达克 04-12 15:24
摩根大通发表报告表示,阿里巴巴(09988.HK)(BABA.US)因垄断行为遭内地监管部门罚款182亿人民币,相信阿里股价反应会表现正面,重申对其美股「增持」评级及目标价320美元,及作为中国互联网业内首选股。

该行相信阿里巴巴今次罚款事件,仅为内地监管互联网平台巨头开端,反映内地会加强监管内地科网行业,特别是具主导地位的平台经济企业,并认为腾讯(00700.HK)、美团(03690.HK)成为最易受到内地监管政策所影响的公司。

摩通认为在当前的监管环境中腾讯和美团易受影响,并指在阿里巴巴今次案例中,国家市场监督管理总局能够将阿里巴巴的口头请求作为证据,这表明其权力较对阿里巴巴调查更强,值得注意的另一件事是,阿里遭罚款182亿元人民币的计入基数,包括阿里巴巴的全部国内收入,包括天猫和淘宝网的收入,其他中国零售业务的收入,甚至包括非商业收入(云,娱乐等),表明国家市场监督管理总局的处罚,不仅仅限於阿里巴巴从垄断行为中获得的直接经济利益。

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