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大行評級丨野村:中資科網股有能力透過派息回購回饋股東
野村中國互聯網及新媒體研究部主管史家龍指出,儘管整體市場環境波動,中國互聯網板塊呈現合理增長,料騰訊二季度繼續取得雙位數盈利增長。不僅如此,他發現大部分中資科網股的資產負債表當中都坐擁大量淨現金,有能力透過派息與回購回饋股東。阿里巴巴年初起推出網購補貼優惠,以抗衡競爭對手如拼多多,史家龍指補貼至今已幫助阿里重新獲取一些之前流失的市佔率,並可望於接下來的一份業績中反映。他又預期,內地網購補貼戰下半年會加劇,併成為市場焦點。另一科技股市場焦點則是中國的人工智能(AI)超級應用何時才會誕生。史家龍直指,不少內地科企至今推出的大語言模型與ChatGPT相似,但無論在商業用户或個人用户層面上,都未見令人興奮的AI應用出現,因此逼使這些科企降低AI模型收費,發動價格戰搶客。另外,被問到內地互聯網監管是否經已落幕,史家龍指從官方言論可見,國家十分支持互聯網產業,因快遞人員等與網購相關的就業職位增加,有助解決內地就業壓力並利好消費,而且AI大模型研發投入亦對行業發展正面。
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