《大行報告》高盛:京東(09618.HK)「618」整體表現大致符預期 消費持續復甦
高盛發表研究報告指,內地今年「618」電商促銷活動反映出消費正在復甦,增速較前幾年有所放緩,主要是因為過去基數較大,以及現時宏觀經濟較弱。
報告指出,京東(09618.HK)(JD.US)5月31日至6月18日期間平台銷售額達到3,793億元人民幣,按年增長10%。該行認為,增幅較2021年同期的28%低,原因是疫情下消費需求疲軟所致,惟6月首18日天全國郵遞包裹量達到3.51億件,按年增長數個百分點,加上品牌參與度提升,認為表現符合預期。
展望未來,高盛相信6月份內地消費將按年改善,由於往年7月份線上零售增長都會回落,建議投資者關注各電商7月份表現,對京東、阿里巴巴(09988.HK)(BABA.US)、拼多多(PDD.US)給予「買入」評級,唯品會(VIPS.US)評級則為「中性」。
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