《大行報告》花旗:內地互聯網股上半年迎六大趨勢 喜愛騰訊、攜程及同程旅行
花旗發表報告指,多間內地互聯網股去年第四度業績喜憂參半,受惠於有效的成本控制,其利潤勝於預期,惟受疫情影響,令部分公司收入符合預期或低於預期。
該行表示,踏入今年上半年,內地消費正在溫和地復甦,惟仍需時一段時間;電子商務和本地服務領域的競爭加劇,令公司增加其投資,以捍衛或重獲其市場份額,惟這或對利潤率構成壓力。
該行指,內地互聯網股上半年迎六大趨勢,包括復甦速度、監管環境回復正常、市場競爭加劇、加大投資額、AIGC技術發展、以及改善股東回報及釋放價值等或增強投資情緒等。
花旗指,在內地互聯網股中,看好騰訊(00700.HK)、攜程-S(09961.HK)及同程旅行(00780.HK),同時認為京東-SW(09618.HK)和阿里巴巴-SW(09988.HK)的估值有上升空間,尤其其增長處於重新加速的情況下。
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