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《大行報告》花旗:內地科網股下半年首選京東(09618.HK) 其次是美團(03690.HK)及攜程(09961.HK)
花旗發表內地互聯網行業前景報告,指第二季業績明顯優於預期,特別是盈利表現上,該行於今年餘下時間喜愛的互聯網旗下細分行業的偏好依次序,第一是電子商務、第二是本地服務、第三是在線廣告、第四是纔是在線遊戲,並料相對較慢、較小批量遊戲審批將推後國產遊戲的常態化時間,指追求高質素增長和提高盈利能力仍然是市場焦點。 該行於今年下半年的內地互聯網行業選股次序,第一是京東(09618.HK)、第二是美團(03690.HK)、第三是攜程(09961.HK)、第四是百度(09888.HK)、第五是京東物流(02618.HK)。該行亦認爲阿裏巴巴(09988.HK)是一個有吸引力的股份,拼多多(PDD.US)是一個提升能承受風險與回報的機會,並且對騰訊(00700.HK)旗下視頻號和國際遊戲催化劑具有建設性看法。 花旗統計其所研究覆蓋的38間內地互聯網公司中,有23間及26間公司於今年第二季收入與盈利優預期,按第三季指引計,有2間公司收入指引優預期,並有5間公司收入指引遜雜預期。 該行亦指目前對今年第三季度發表評論可能還爲時過早,但監於9月更多內地省市的疫情再次出現,該行謹慎地假設9月的經濟活動和復甦趨勢將被打亂,儘管如此,該行估計行業第三季整體表現仍應優於第二季。該行預計今年年四季度可能會在中共20大召開後獲得刺激支持,因此謹慎樂觀並認爲第四季度可能是2022年營運最好的季度。
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