《大行報告》大摩:內地消費弱及行業競爭激烈 電商缺乏短期催化劑
摩根士丹利發表研究報告指出,雖然首兩個月中國商品網上零售額增速恢復至12.3%,但最近的疫情再次爆發可能會削弱3月份及第二季的消費情勢,估計下半年消費纔會顯着復甦。此外,直播電商如快手(01024.HK)及抖音於步入2022年表現仍然強勁,可能進一步加劇電商領域的競爭,意味着內地電商短期缺乏催化劑。
該行指出,電商中看好京東(09618.HK),認爲其今年收入增長具韌性,預期按年升20%,爲同業中最高。雖然騰訊(00700.HK)分派京東股份是近期的懸念,但認爲結果公佈後,市場將更多關注京東基本面的優異表現。(jl/U)~
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