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《大行報告》高盛料內地6月網上零售銷售進一步改善 京東、阿里、美團及拼多多評級「買入」
高盛發表研究報告指,中國5月整體零售額按年下降6.7%,相對於4月的下跌11.1%幅度有所收窄,好過該行及市場預期的下跌8%及7.1%。 報告指出,隨著疫情防控措施逐步放鬆和供應鏈正常化,線上零售商品銷售額反彈,恢復正增長7%,亦高於該行預期的2%。5月全國快遞包裹量按年增長3%,高盛解釋,包裹增長速度低於整體上線GMV增幅,可能是由於同城物流及按需送貨比例有所增加。 展望未來,該行預計在「618」促銷推動下,6月線上零售額將按月進一步改善,初步數據來看預售及用戶參與趨勢健康,加上快遞量持續改善,預計6月18日至20日快遞量將到達頂峰,建議投資者繼續關注「618」的消費趨勢,對京東-SW(09618.HK)(JD.US)、阿里-SW(09988.HK)(BABA.US)、美團-W(03690.HK)、拼多多(PDD.US)的評級為「買入」,而唯品會(VIPS.US)的評級為「中性」。
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