7月3日，白鸽在线盘中下跌5.64%，报52.05港元，成交额138.16万港元。该股自6月29日上市首日收报73港元后持续回调，较高点已回落近三成。
消息面上，近日有市场分析指出白鸽在线业务扩张背后存在隐忧：公司保单数量从高峰期的19亿份下降至4.9亿份，且连续三年亏损扩大，2023至2025年净亏损分别为1718万元、2771万元、4667万元。此外，公司综合毛利率始终未能突破10%，研发投入占比常年不足4%，增收不增利的矛盾突出，市场对其估值合理性及长期盈利能力产生疑虑。
白鸽在线是一家以AI技术驱动的保险中介服务公司，核心业务聚焦场景险分销，覆盖保险交易服务、精准营销及数字化解决方案、第三方管理机构（TPA）服务三大板块，主要在中国国内市场开展业务。
（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。）
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.