7月6日，白鸽在线盘中下跌6.78%，报55.0港元，成交额7.71万港元。该股自6月29日上市首日收报73港元后持续回调，较高点已回落约25%。
消息面上，市场对白鸽在线基本面隐忧的关注持续发酵。公司连续三年亏损扩大，净亏损从1718万元增至4667万元，毛利率长期维持在8%左右。更值得注意的是，核心出行渠道保单量从高峰期的19亿份骤降至4.5亿份，降幅超75%。此外，99%收入仍依赖保险分销佣金，技术变现占比不足1%，渠道转介费吞噬绝大部分毛利空间。市场分析认为，保险中介板块正从"概念叙事"回归"能力定价"，白鸽在线增收不增利的中介模式面临重估压力。
白鸽在线是一家以AI技术驱动的数字化风险管理科技企业，核心业务聚焦场景险分销，按总保费计在中国第三方场景互联网保险中介市场排名第一。
（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）
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