格隆汇7月29日|阿里巴巴(9988.HK)半日收涨5.27%报76.95港元。富瑞最新发表研究报告指出,虽然中国宏观经济不明朗,但阿里巴巴未来有多重股价催升因素,包括看好阿里巴巴电商核心CMR(用户管理收入)与GMV(商品交易总额)的增长差距即将收窄,阿里巴巴有望8月完成香港主要上市、9月纳入港股通,以至回购计划继续进行,都有利其股价。富瑞维持阿里巴巴目标价112港元,买入评级。富瑞指出,目前中国网购趋势包括:1)除低价外,投资回报率(ROI)、GMV和用户体验一样重要;2)免费退款政策需满足更多要求;3)由于基数较高,短视频的市场份额增长故事预计不会对行业整体造成太大冲击,“货架式电商”较短视频发展更重要;4)关于产品退货政策更改,2024年将全面反映电商公司自2023年下半年开始实施的多项措施对配送福利的影响,预计2025年将趋于正常化。富瑞指,从9月开始,天猫以0.6%软件服务费取代原有每年3万或6万元固定费用,可对CMR有正面影响。此外,阿里为商家提供支持措施,包括:1)年度GMV低于12万元的商家可获得服务费退款;2)从2024年9月至12月,约100个类别(如电子产品和奢侈品)的服务费上限为60元(而非基于0.6%);3)GMV在12万至100万元之间的商家,在9月至12月期间可获相当于服务费50%的福利券,用于广告相关支出。在年度收入影响方面,富瑞假设年度GMV总额约为8万亿元,考虑到已完成交易的0.6%,服务费估计约为310亿元。假设有50万天猫商家,年度固定服务费约为230亿元。年度收入影响约为80亿元(约占商品交易总额的0.1%)。回购方面,阿里巴巴在2024年上半年总计回购106亿美元股份,约减少5%股份,尚有261亿美元回购金额待使用。
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港股异动丨阿里巴巴半日收涨超5%,大行称未来有多重股价催升因素
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Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Moomoo Securities Australia Limited, Moomoo Financial Canada Inc., and Moomoo Securities Malaysia Sdn. Bhd. are affiliated companies.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Moomoo Securities Australia Limited, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our website https://www.moomoo.com/au.
In Canada, order-execution only services available through the moomoo app are provided by Moomoo Financial Canada Inc., regulated by the Canadian Investment Regulatory Organization (CIRO).
In Malaysia, investment products and services available through the moomoo app are offered through Moomoo Securities Malaysia Sdn. Bhd. ("Moomoo MY"regulated by the Securities Commission of Malaysia (SC). Moomoo Securities Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Moomoo Securities Australia Limited, Moomoo Financial Canada Inc., and Moomoo Securities Malaysia Sdn. Bhd. are affiliated companies.
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This page is machine-translated. Moomoo tries to improve but do not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.
This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Moomoo Securities Australia Limited, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our website https://www.moomoo.com/au.
In Canada, order-execution only services available through the moomoo app are provided by Moomoo Financial Canada Inc., regulated by the Canadian Investment Regulatory Organization (CIRO).
In Malaysia, investment products and services available through the moomoo app are offered through Moomoo Securities Malaysia Sdn. Bhd. ("Moomoo MY"regulated by the Securities Commission of Malaysia (SC). Moomoo Securities Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Moomoo Securities Australia Limited, Moomoo Financial Canada Inc., and Moomoo Securities Malaysia Sdn. Bhd. are affiliated companies.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Moomoo Securities Australia Limited, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our website https://www.moomoo.com/au.
In Canada, order-execution only services available through the moomoo app are provided by Moomoo Financial Canada Inc., regulated by the Canadian Investment Regulatory Organization (CIRO).
In Malaysia, investment products and services available through the moomoo app are offered through Moomoo Securities Malaysia Sdn. Bhd. ("Moomoo MY"regulated by the Securities Commission of Malaysia (SC). Moomoo Securities Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Moomoo Securities Australia Limited, Moomoo Financial Canada Inc., and Moomoo Securities Malaysia Sdn. Bhd. are affiliated companies.
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This page is machine-translated. Moomoo tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.
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