荣德中泰的个人主页 - 老虎社区

荣德中泰

荣德中泰

无欲则刚

IP属地：新疆

29关注

1粉丝

5主题

0勋章

2020-02-07

$贵州银行(06199)$您倒是雄起一下啊！

2022-02-21

美团一家独大垄断餐饮行业，导致餐饮从业者负担不断加重，希望得到有效监管。

抱歉，原内容已删除

2020-02-28

$贵州银行(06199)$雄起了！👍

2020-04-28

$康方生物-B(09926)$加油啊💪

2020-01-15

$贵州银行(06199)$看来你的二师兄是纸糊的！欠厚道！

2020-04-14

$海底捞(06862)$春暖花开

2020-02-21

$贵州银行(06199)$[笑哭]

2020-04-23

$阿里健康(00241)$加油💪

2019-12-30

$贵州银行(06199)$😊完美中签！2020牛！牛！牛！冲！冲！冲！

2021-11-19

加油💪

抱歉，原内容已删除

2020-04-13

$阿里巴巴(BABA)$美股跌幅持续扩大，道指跌近500点，跌幅超2%；纳指跌超1%，标普500指数跌1.8%。

01-19

已订阅感谢老虎提供这么好的平台给大家分享自己的交易信息 ✌️

2022-08-14

💪要加油啊！再怎么玩资本也请不要辜负我们这些不离不弃的忠粉！

抱歉，原内容已删除

2022-02-22

加油💪

抱歉，原内容已删除

2020-04-27

$康方生物-B(09926)$👍牛

2020-04-21

$平安好医生(01833)$👍继续

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href=\"https://laohu8.com/S/06862\">海底捞</a>：集团预期2022年上半年录得净亏损约人民币2.25亿元至人民币2.97亿元，上年同期盈利人民币9650万元。</p><p><img src=\"https://static.tigerbbs.com/6db62fde5f757ed773e1a943936edb54\" tg-width=\"796\" tg-height=\"695\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/23f2c25e060d113f3768c45cafc16292","relate_stocks":{"CYB":"人民币ETF-WisdomTree Dreyfus","06862":"海底捞","BK1591":"就地过年概念","BK1589":"北水核心资产","BK1233":"餐馆","BK1583":"高瓴概念","BK1604":"节假日概念"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147223575","content_text":"8月14日，海底捞：集团预期2022年上半年录得净亏损约人民币2.25亿元至人民币2.97亿元，上年同期盈利人民币9650万元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638487834,"gmtCreate":1645496407383,"gmtModify":1645496407383,"author":{"id":"3530596353527633","authorId":"3530596353527633","name":"荣德中泰","avatar":"https://static.tigerbbs.com/0f959e576bec4f556e49d04cb7456cd3","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3530596353527633","authorIdStr":"3530596353527633"},"themes":[],"htmlText":"加油💪","listText":"加油💪","text":"加油💪","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638487834","repostId":"2213982397","repostType":4,"repost":{"id":"2213982397","kind":"highlight","pubTimestamp":1645488000,"share":"https://www.laohu8.com/m/news/2213982397?lang=&edition=full","pubTime":"2022-02-22 08:00","market":"us","language":"zh","title":"1年关店300家巨亏超38亿！海底捞不“香”了？","url":"https://stock-news.laohu8.com/highlight/detail?id=2213982397","media":"21世纪经济报道","summary":"2月21日盘前，海底捞(06862.HK)发布业绩预告。对于这家火锅巨头而言，2021年的确遭遇困境。公告显示，该公司预计实现收入超过400亿元，较2020年增长超过40%；净亏损约38亿元至45亿元，而2020年同期盈利3.09亿元。受此利空消息影响，海底捞股价在开市一度短暂攀升后开启下跌态势。截至收盘，该公司股价报收19.08港元/股，跌幅5.54%。","content":"<div>\n<p>2月21日盘前，海底捞发布业绩预告。对于这家火锅巨头而言，2021年的确遭遇困境。公告显示，该公司预计实现收入超过400亿元，较2020年增长超过40%；净亏损约38亿元至45亿元，而2020年同期盈利3.09亿元。受此利空消息影响，海底捞股价在开市一度短暂攀升后开启下跌态势。截至收盘，该公司股价报收19.08港元/股，跌幅5.54%。21世纪经济报道记者注意到，在去年11月初公布闭店计划之时，有...</p>\n\n<a href=\"http://finance.eastmoney.com/a/202202212283501637_0.html\">Web Link</a>\n\n</div>\n","source":"eastmoney_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" 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}\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head 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href=http://finance.eastmoney.com/a/202202212283501637_0.html><strong>21世纪经济报道</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2月21日盘前，海底捞发布业绩预告。对于这家火锅巨头而言，2021年的确遭遇困境。公告显示，该公司预计实现收入超过400亿元，较2020年增长超过40%；净亏损约38亿元至45亿元，而2020年同期盈利3.09亿元。受此利空消息影响，海底捞股价在开市一度短暂攀升后开启下跌态势。截至收盘，该公司股价报收19.08港元/股，跌幅5.54%。21世纪经济报道记者注意到，在去年11月初公布闭店计划之时，有...</p>\n\n<a href=\"http://finance.eastmoney.com/a/202202212283501637_0.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/23f2c25e060d113f3768c45cafc16292","relate_stocks":{"BK1591":"就地过年概念","BK1589":"北水核心资产","BK1233":"餐馆","BK1583":"高瓴概念","06862":"海底捞","BK1604":"节假日概念"},"source_url":"http://finance.eastmoney.com/a/202202212283501637_0.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2213982397","content_text":"2月21日盘前，海底捞发布业绩预告。对于这家火锅巨头而言，2021年的确遭遇困境。公告显示，该公司预计实现收入超过400亿元，较2020年增长超过40%；净亏损约38亿元至45亿元，而2020年同期盈利3.09亿元。受此利空消息影响，海底捞股价在开市一度短暂攀升后开启下跌态势。截至收盘，该公司股价报收19.08港元/股，跌幅5.54%。21世纪经济报道记者注意到，在去年11月初公布闭店计划之时，有分析机构便指出，大规模闭店预期将产生大额一次性减值。据西南证券彼时预计，这一减值数据预计超10亿元。但结合最终披露的业绩预告，显然，其净利润亏损数额超出预期。对于此次大额亏损，海底捞方面也表示，其一直密切关注市场状况并调整商业策略及运作以减少负面影响。而主要举措，则是寄希望于去年11月份公布的“啄木鸟计划”，来扭转颓势。亏损超预期翻看海底捞自2015年以来公布的财务数据，除了在2020年上半年净利润遭遇亏损外，该公司出现全年度亏损，尚属首次。在疫情蔓延的2020年，海底捞因线下门店暂停营业，经历了一段难熬的时刻：2020年上半年，该公司亏损9.65亿元。不过，随着下半年疫情受控、行业复苏、消费回暖，2020年全年，海底捞最终扭亏为盈。然而，更艰难的时刻出现在2021年。在上半年营收、净利润同比实现双增长之时，海底捞于去年11月初发布了一份自愿性公告，揭开了深层的伤疤。在这份公告中，该公司表示，将于2021年12月31日前逐步关停300家左右客流量相对较低及经营业绩不如预期的海底捞门店。并且，为改善经营表现，海底捞将启动“啄木鸟计划”，在持续关注经营业绩不佳的门店之时，适时收缩业务扩张计划。事实上，大规模关闭门店不可避免地对海底捞2021年度的财务报表造成冲击。业绩预告显示，由于去年300余家餐厅关停及餐厅经营业绩下滑等因素导致的处置长期资产的一次性损失、减值损失等合计约33亿元至39亿元，这构成了该公司去年净利润大幅转亏的最大原因。针对关店导致计提的影响，部分券商机构彼时也做了测算。例如，西南证券预计减值数据超过10亿元；东吴证券则考虑，因疫情尚未平复、关店带来较大一次性费用、后续门店扩张计划调整等因素，下调海底捞2021年归母净利润至-10.3亿元。此外，21世纪经济报道记者注意到，据统计，自2011年11月8日至2022年1月18日，共计9家券商机构对海底捞2021年度净利润预测值进行了调整。其中，除两家机构维持盈利预测外，剩余7家机构均进行了亏损测算。不过，最终海底捞公布的亏损数据均超出上述机构的预期。海底捞表示，除了因关闭门店导致的处置长期资产的一次性损失、减值损失外，全球持续变化和反复的疫情，2020年、2021年门店网络快速扩张以及内部管理问题等对海底捞餐厅经营状况带来的冲击。“特别是在2021年下半年，餐厅运营受到全球区域性的疫情暴发和公共卫生管控措施的显著影响，导致海底捞餐厅2021年下半年的经营业绩较2020年同期相比出现下滑，海外门店2021年出现亏损加剧的情况。”所幸的是，中国大陆地区运营餐厅整体表现平稳。公告显示，2021年，海底捞预计实现收入超过400亿元，同比增长逾40%。“海底捞的亏损是非经常性损益，一次性将包袱甩掉，有利于轻装上阵。此外，去年疫情的反复带来经营压力，但从下半年开始，其上座率应该逐渐回暖，业绩在今年大概率会有所强势表现。”香颂资本执行董事沈萌对21世纪经济报道记者表示认为。“舔舐”扩张之痛就行业环境而言，餐饮业若能恢复至疫情前的状态，还有一定的距离。中国烹饪协会发布的《2021年中国餐饮市场分析及2022年市场前景预测》(以下简称《报告》)报告显示，2021年，全国餐饮收入46895亿元，与上年相比由负转为正增长18.6%，两年平均下降0.5%，还未恢复至疫情之前的2019年水平。《报告》指出，2021年，餐饮业从经营状况来看仍然未摆脱困境，很多餐饮企业处于亏损状态，甚至是大型连锁品牌企业。鉴于疫情反复多发，餐饮业不断调整发展策略，采取关停部分门店等措施应对当前困境。去年12月份，随着“啄木鸟计划”的实施，海底捞在北京、上海等城市闭店情况受到关注。对此，海底捞官方当时回应21世纪经济报道记者表示：“根据之前所发布公告，经营未达预期的部分门店计划在今年年底前进行调整(其中部分门店将暂时休整、择机重开)。我们将通过实行‘啄木鸟计划’，集中资源提升现有门店的经营，包括提高顾客满意度、提升员工努力程度、加强店经理管理水平和门店管理、丰富产品创新、全面优化顾客体验。”“啄木鸟计划”，被外界视作海底捞对过去几年过度扩张的一次彻底“纠偏”。翻台率数据的变动，警示海底捞不得不降速前行。财务数据显示，在2021年上半年，海底捞整体的翻台率3.0次/天，略低于去年同期；同店翻台率为3.4次/天，与去年同期持平。这其中，整体翻台率恢复不佳，因新店占比较大且疫情影响下新店爬坡期拉长。海底捞如今“舔舐”扩张之痛，正是后疫情时代之下，国内餐饮业所遇到的整体困境的缩影。第一，行业之困，国内疫情影响深远，餐饮行业受到阶段性冲击与需求端持续的压制；第二，品类之困，火锅进入下半场，新锐玩家层出不穷，行业进入存量竞争；第三，企业之困，快速扩张下周转下滑，对现金流形成冲击。中泰证券对此总结了三大困境。实际上，海底捞的颓势恰恰也是当前餐饮业发展的警示。《报告》指出，餐饮业愈加认识到推进高质量发展的重要性和必要性，实现从量到质的深层次变革，探索新模式创新发展。值得一提的是，政策还将继续支持餐饮业的复苏。2月18日，国家发改委、财政部等十四个部门联合印发《关于促进服务业领域困难行业恢复发展的若干政策》。针对餐饮业，文件提出了7条纾困扶持措施，涉及企业防疫补贴、下调外卖平台服务费、缓缴保险费用、拓宽融资渠道等方面，为餐饮行业未来发展注入了“强心剂”。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638279794,"gmtCreate":1645409575833,"gmtModify":1645409575833,"author":{"id":"3530596353527633","authorId":"3530596353527633","name":"荣德中泰","avatar":"https://static.tigerbbs.com/0f959e576bec4f556e49d04cb7456cd3","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3530596353527633","authorIdStr":"3530596353527633"},"themes":[],"htmlText":"美团一家独大垄断餐饮行业，导致餐饮从业者负担不断加重，希望得到有效监管。","listText":"美团一家独大垄断餐饮行业，导致餐饮从业者负担不断加重，希望得到有效监管。","text":"美团一家独大垄断餐饮行业，导致餐饮从业者负担不断加重，希望得到有效监管。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/638279794","repostId":"2213605334","repostType":2,"repost":{"id":"2213605334","kind":"news","pubTimestamp":1645408981,"share":"https://www.laohu8.com/m/news/2213605334?lang=&edition=full","pubTime":"2022-02-21 10:03","market":"us","language":"zh","title":"观点 | 下调商户服务费标准对美团的影响有多大？","url":"https://stock-news.laohu8.com/highlight/detail?id=2213605334","media":"华尔街见闻","summary":"文章来源：华尔街见闻下调商户服务费标准对美团的影响有多大？","content":"<html><head></head><body><p><b>一、事项</b></p><p>2月18号，发改委等多部委发布《关于促进服务业领域困难行业恢复发展的若干政策》，其中针对餐饮业纾困扶持措施中指出“引导外卖等互联网平台企业进一步下调餐饮业商户服务费标准，降低相关餐饮企业经营成本。引导互联网平台企业对疫情中高风险地区所在的县级行政区域内的餐饮企业，给予阶段性商户服务费优惠”，引起市场对美团乃至互联网行业政策风险的担心。</p><p>周一，美团开盘跌超5%，但随后一路拉涨并翻红，最高涨0.5%。</p><p><b>二、政策偏向于疫情下帮助服务业纾困</b></p><p>华创证券刘欣团队认为从政策对互联网行业的监管进程来看，经过反垄断调查、价格规制、互联网金融业务监管、数据算法监管、信息保护、未成年人保护、劳动者保障等一系列政策，当前针对互联网行业监管框架已基本形成，结合网信办1月29号的互联网企业健康持续发展座谈会内容，监管已有较明确的缓和信号。</p><p>本次《服务业领域恢复发展政策》的初衷是政策上帮扶受疫情影响较大的困难行业，涉及服务、餐饮、零售、旅游、交运、民航等多个行业的税收、贷款、租金减免等优惠政策，并不是政策端单独针对互联网行业的收费标准规定，也并不是政策再次趋严的信号，因此华创证券依旧对互联网行业监管缓解的趋势保持乐观。</p><p><a href=\"https://laohu8.com/S/600837\">海通证券</a>汪立亭团队认为，本政策更偏向于疫情下帮助服务业纾困，并非特定针对互联网企业， 对政策预期干扰不大；从公司层面来讲，2021年5月起美团试行“费率透明化” 改革，通过技术改变收费结构，降低中小商户抽成是更为切实的降本途径。</p><p><a href=\"https://laohu8.com/S/600030\">中信证券</a>姜娅、杨清朴表示，政策十分明确地强调了“阶段性”和“地区性”。</p><p><b>三、佣金率下调空间有多大</b></p><p><a href=\"https://laohu8.com/S/06837\">海通证券</a>认为，当前政策以“引导”为主，尚未明确下调比率。若根据 2021年3月份全国工商提案中“外卖平台抽拥在10%-15%区间才是餐饮企业可以接受的”进行预期。那么相较于美团2020年12.0%的佣金率，本次下调空间并不大。</p><p>华创证券认为，长期下调费率概率小。从长期看：6%~7%的技术服务费相比电商/打车平台的费率已处低位，利润率微薄。本次服务费优惠或对美团短期(22年H1)的佣金率和单均营业利润产生一定影响，从短期纾困期间来看：参考2020年3月份美团启动的“商户伙伴佣金返还计划”，对全国范围部分商户3%~5%佣金返还(非减免，可用于广告营销)对20Q1的佣金率影响在0.5pct左右。</p><p><a href=\"https://laohu8.com/S/06030\">中信证券</a>认为，美团的基础服务费率在互联网行业无论是国内还是全球横向比较看均已处很低水平，下调空间不大。长期来看，美团到店业务的下沉空间仍然较大，交易类属性有望不断增强，广告付费转化率提高带动到店业务变现能力继续提升。</p><p><b>四、政策对美团的影响</b></p><p>华创证券认为本政策对美团外卖服务费率的影响是短期(预估3~6个月)且区域性的(预计21年涉及到的中高风险地区在数百个，辐射商户占全国总商户比例有限)，而并不是一刀切的对商户服务费进行永久性下调。</p><p>海通证券认为，中长期来看，政策并未降低美团在交易撮合、履约服务方面的壁垒，政策对相应负外部性定价后，平台价值会以需求侧消费者粘性变现。</p><p>中信证券也认为发改委等部门的提法并非有意一刀切要求外卖平台降费，初衷主要在于帮助商户在困难时期降低一定的经营成本。引导平台经济让利相关条款引发的担忧已显过度，基本面层面对平台的边际影响有限，政策层面更不意味着新一轮政策监管，建议理性对待。</p></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>观点 | 下调商户服务费标准对美团的影响有多大？</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n观点 | 下调商户服务费标准对美团的影响有多大？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-21 10:03 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2022022109472180367f98&s=b><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>一、事项2月18号，发改委等多部委发布《关于促进服务业领域困难行业恢复发展的若干政策》，其中针对餐饮业纾困扶持措施中指出“引导外卖等互联网平台企业进一步下调餐饮业商户服务费标准，降低相关餐饮企业经营成本。引导互联网平台企业对疫情中高风险地区所在的县级行政区域内的餐饮企业，给予阶段性商户服务费优惠”，引起市场对美团乃至互联网行业政策风险的担心。周一，美团开盘跌超5%，但随后一路拉涨并翻红，最高涨...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2022022109472180367f98&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4589810b25a8b6d34214e0147613ce0c","relate_stocks":{"BK1142":"互联网与直销零售","BK1589":"北水核心资产","BK1591":"就地过年概念","BK1521":"挪威政府全球养老基金持仓","03690":"美团-W","BK1583":"高瓴概念","BK1604":"节假日概念","BK1575":"同股不同权"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2022022109472180367f98&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2213605334","content_text":"一、事项2月18号，发改委等多部委发布《关于促进服务业领域困难行业恢复发展的若干政策》，其中针对餐饮业纾困扶持措施中指出“引导外卖等互联网平台企业进一步下调餐饮业商户服务费标准，降低相关餐饮企业经营成本。引导互联网平台企业对疫情中高风险地区所在的县级行政区域内的餐饮企业，给予阶段性商户服务费优惠”，引起市场对美团乃至互联网行业政策风险的担心。周一，美团开盘跌超5%，但随后一路拉涨并翻红，最高涨0.5%。二、政策偏向于疫情下帮助服务业纾困华创证券刘欣团队认为从政策对互联网行业的监管进程来看，经过反垄断调查、价格规制、互联网金融业务监管、数据算法监管、信息保护、未成年人保护、劳动者保障等一系列政策，当前针对互联网行业监管框架已基本形成，结合网信办1月29号的互联网企业健康持续发展座谈会内容，监管已有较明确的缓和信号。本次《服务业领域恢复发展政策》的初衷是政策上帮扶受疫情影响较大的困难行业，涉及服务、餐饮、零售、旅游、交运、民航等多个行业的税收、贷款、租金减免等优惠政策，并不是政策端单独针对互联网行业的收费标准规定，也并不是政策再次趋严的信号，因此华创证券依旧对互联网行业监管缓解的趋势保持乐观。海通证券汪立亭团队认为，本政策更偏向于疫情下帮助服务业纾困，并非特定针对互联网企业， 对政策预期干扰不大；从公司层面来讲，2021年5月起美团试行“费率透明化” 改革，通过技术改变收费结构，降低中小商户抽成是更为切实的降本途径。中信证券姜娅、杨清朴表示，政策十分明确地强调了“阶段性”和“地区性”。三、佣金率下调空间有多大海通证券认为，当前政策以“引导”为主，尚未明确下调比率。若根据 2021年3月份全国工商提案中“外卖平台抽拥在10%-15%区间才是餐饮企业可以接受的”进行预期。那么相较于美团2020年12.0%的佣金率，本次下调空间并不大。华创证券认为，长期下调费率概率小。从长期看：6%~7%的技术服务费相比电商/打车平台的费率已处低位，利润率微薄。本次服务费优惠或对美团短期(22年H1)的佣金率和单均营业利润产生一定影响，从短期纾困期间来看：参考2020年3月份美团启动的“商户伙伴佣金返还计划”，对全国范围部分商户3%~5%佣金返还(非减免，可用于广告营销)对20Q1的佣金率影响在0.5pct左右。中信证券认为，美团的基础服务费率在互联网行业无论是国内还是全球横向比较看均已处很低水平，下调空间不大。长期来看，美团到店业务的下沉空间仍然较大，交易类属性有望不断增强，广告付费转化率提高带动到店业务变现能力继续提升。四、政策对美团的影响华创证券认为本政策对美团外卖服务费率的影响是短期(预估3~6个月)且区域性的(预计21年涉及到的中高风险地区在数百个，辐射商户占全国总商户比例有限)，而并不是一刀切的对商户服务费进行永久性下调。海通证券认为，中长期来看，政策并未降低美团在交易撮合、履约服务方面的壁垒，政策对相应负外部性定价后，平台价值会以需求侧消费者粘性变现。中信证券也认为发改委等部门的提法并非有意一刀切要求外卖平台降费，初衷主要在于帮助商户在困难时期降低一定的经营成本。引导平台经济让利相关条款引发的担忧已显过度，基本面层面对平台的边际影响有限，政策层面更不意味着新一轮政策监管，建议理性对待。","news_type":1},"isVote":1,"tweetType":1,"viewCount":2876,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574807655529815","authorId":"3574807655529815","name":"花花小pigeon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"3574807655529815","authorIdStr":"3574807655529815"},"content":"可以去看看房租的比例和美团收取的比例，看看什么是大头","text":"可以去看看房租的比例和美团收取的比例，看看什么是大头","html":"可以去看看房租的比例和美团收取的比例，看看什么是大头"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876872270,"gmtCreate":1637296904385,"gmtModify":1637296904385,"author":{"id":"3530596353527633","authorId":"3530596353527633","name":"荣德中泰","avatar":"https://static.tigerbbs.com/0f959e576bec4f556e49d04cb7456cd3","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3530596353527633","authorIdStr":"3530596353527633"},"themes":[],"htmlText":"加油💪","listText":"加油💪","text":"加油💪","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/876872270","repostId":"2184091815","repostType":2,"repost":{"id":"2184091815","kind":"news","pubTimestamp":1637293344,"share":"https://www.laohu8.com/m/news/2184091815?lang=&edition=full","pubTime":"2021-11-19 11:42","market":"us","language":"zh","title":"京东(09618.HK)随美股逆升5.6%创逾八个月高  野村指上季收入胜预期重申「买入」评级","url":"https://stock-news.laohu8.com/highlight/detail?id=2184091815","media":"AAFN","summary":"30只科指成份股普遍受压。然而，憧憬「染蓝」的京东集团-SW  上季收入年升25.5%，野村指增速胜预期，维持京东美股目标价95美元，重申「买入」评级。京东美股昨晚股价高见89.29美元，收88.1美元，回升近6%。本港京东股价也扭两连吐，今早高见345元创逾八个月高，现报341.2元，回升5.6%，成交增至493万股，涉资16.78亿元。京东集团公布，第三季业绩盈转蚀28.07亿人民币，但期内收入按年升25.5%至2,187.08亿人民币。","content":"<html><body><p>恒生科技指数三连跌，承昨天急挫3%弱势，今早最多再跌近2.1%低见6,341，现报6,391，续跌1.3%。30只科指成份股普遍受压。然而，憧憬「染蓝」的<a href=\"https://laohu8.com/S/09618\">京东集团-SW</a>  上季收入年升25.5%，野村指增速胜预期，维持<a href=\"https://laohu8.com/S/JD\">京东</a>美股(JD.US)目标价95美元，重申「买入」评级。京东美股昨晚股价高见89.29美元，收88.1美元，回升近6%。本港京东股价也扭两连吐，今早高见345元创逾八个月高，现报341.2元，回升5.6%，成交增至493万股，涉资16.78亿元。京东集团公布，第三季业绩盈转蚀28.07亿人民币(上年同期赚75.6亿元人民币)，但期内收入按年升25.5%至2,187.08亿人民币。若按非公认会计准则计，第三季净利润按年仅跌9%至50.48亿元人民币。<a href=\"https://laohu8.com/S/GS\">高盛</a>绩後指，京东集团季绩稳固，再次展示公司於「在线零售+综合供应链」模式在同业中的独特优势，尽管期间内地消费趋势普遍疲软，但京东仍能获得更多份额，而用户增长健康，带动收入增长显着超过行业。(sz/t)~阿思达克财经新闻网址: www.aastocks.com</p></body></html>","source":"aastocks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>京东(09618.HK)随美股逆升5.6%创逾八个月高  野村指上季收入胜预期重申「买入」评级</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n京东(09618.HK)随美股逆升5.6%创逾八个月高  野村指上季收入胜预期重申「买入」评级\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-19 11:42 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.aastocks.com/apps/data/iphone/news/newscontent.aspx?newsid=RUM.211119_114224&style=5&chgstyle=1&categoryid=stock&width=320&market_id=hk&fontary=3&platform=iPhone&language=sc&isfirstreq=1&sourceid=aafn&datatype=0><strong>AAFN</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>恒生科技指数三连跌，承昨天急挫3%弱势，今早最多再跌近2.1%低见6,341，现报6,391，续跌1.3%。30只科指成份股普遍受压。然而，憧憬「染蓝」的京东集团-SW  上季收入年升25.5%，野村指增速胜预期，维持京东美股(JD.US)目标价95美元，重申「买入」评级。京东美股昨晚股价高见89.29美元，收88.1美元，回升近6%。本港京东股价也扭两连吐，今早高见345元创逾八个月高，现报...</p>\n\n<a href=\"http://www.aastocks.com/apps/data/iphone/news/newscontent.aspx?newsid=RUM.211119_114224&style=5&chgstyle=1&categoryid=stock&width=320&market_id=hk&fontary=3&platform=iPhone&language=sc&isfirstreq=1&sourceid=aafn&datatype=0\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/13487344e5ada2df2728e43db10f835b","relate_stocks":{"09618":"京东集团-SW","JD":"京东"},"source_url":"http://www.aastocks.com/apps/data/iphone/news/newscontent.aspx?newsid=RUM.211119_114224&style=5&chgstyle=1&categoryid=stock&width=320&market_id=hk&fontary=3&platform=iPhone&language=sc&isfirstreq=1&sourceid=aafn&datatype=0","is_english":false,"share_image_url":"https://static.laohu8.com/51f6b9126f36f92bbf92982596066e5a","article_id":"2184091815","content_text":"恒生科技指数三连跌，承昨天急挫3%弱势，今早最多再跌近2.1%低见6,341，现报6,391，续跌1.3%。30只科指成份股普遍受压。然而，憧憬「染蓝」的京东集团-SW  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