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2023-06-13

互联网零售一哥，🔥🔥🔥

国泰君安证券点评阿里巴巴：淘天拐点已至，组织架构变革值得期待

我们认为短视频电商回归常态增长意味着淘天的拐点即将到来。抖音并未形成差异化的优势，故对淘天的影响较为可控。阿里进行组织架构变革，淘天将重塑电商竞争力。阿里启动“1+6+N”的组织架构变革，我们看好阿里回归创业者的状态，提升组织灵敏度和组织效率，重新迎来新的发展契机。淘天后续将通过提供差异化内容供给、扶持品牌和中小商家以及推动全面AI化来巩固其市场领先地位，重新回到增长的轨道上来。

国泰君安证券点评阿里巴巴：淘天拐点已至，组织架构变革值得期待

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202306121031208272edc4&s=b><strong>金融界</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>给予“增持”评级，目标价为136港元：我们持续看好公司长远发展和后续业绩的增长。预计阿里巴巴2023年-2025年的营业收入分别为9,482/10,532/11,267亿人民币。经调整净利润分别为1,480/1,654/1,901亿人民币。根据SOTP估值法，给予目标价136港元，较最新收盘价有63%的上涨空间。短视频电商的兴起同时减少了C端和B端的流量规模，对淘天的市场份额以及广告收入产生了负向...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202306121031208272edc4&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU0048580855.USD":"富达大中华区A","BABA":"阿里巴巴","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) 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