《大行報告》中金料阿里(09988.HK)上季收入略遜 非通用會計準則淨利潤符預期
中金發表研究報告,預測阿里巴巴(09988.HK)(BABA.US)截至去年12月底止2023年第三財季收入將按年增長1%至2,441億元人民幣,略遜於市場預期,主要由於內地疫情再爆發為商業市場帶來壓力;而非通用會計準則下純利料符合市場預期,預計經調整EBITA將增長6%至477億元人民幣。
該行指,觀察到宏觀經濟復甦後收入增長的恢復情況,其中線上消費表現仍然疲軟,因此估計阿里的零售商業客戶管理收入(CMR)將按年下降9.5%,GMV亦將按年下跌;季度本地消費服務收入則預期增長9%。
中金預期阿里雲計算業務依然疲弱,預期第三財季雲計算業務收入將增長4%。中金指出,集團已任命董事長兼首席執行官張勇兼任阿里雲智能總裁,預期阿里將促進雲計算業務高質量可持續發展,雖然該業務短期內欠缺增長動力,但長期發展趨勢不變。
該行指,隨著疫情緩和及宏觀經濟復甦,該行預計阿里的收入將於今年上半年有所恢復,維持2023至2024財年的收入預測為8,739億及9,597億元人民幣不變,非通用會計準則純利預測則為1,410億及1,616億元人民幣,維持「跑贏大市」評級及目標價137元。
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