惠譽:阿裏(09988.HK)專注成本效益助穩定現金流
評級機構惠譽表示,宏觀經濟不確定性和競爭加劇等將減慢阿裏-SW(09988.HK)2023財年的收入復甦,但透過關注成本優化和營運現金流量,應有助抵銷上述負面影響。
惠譽重申,阿裏的評級空間仍然是其授評中資互聯網發行人中最高,因其中國電子商務市場和雲服務方面的市場領先地位,加上資本結構保守和流動性充足,爲信用狀況帶來支持。
惠譽預計,阿裏收入將在截至今年6月的季度(2023財年首季)見底,並從次財季開始小量回升,2023財年收入增長約中單位數,並在2024財年和2025財年加速至介乎10%至15%(low-to-mid teens)。
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