阿里健康今日盘中股价大幅下挫5.29%，引起了市场的广泛关注。
消息面上，公司刚刚发布了截至2026年3月31日的年度财报。财报显示，公司总收入为342.55亿元，同比增长12%；净利润为19.36亿元，同比增长35.16%。尽管营收和净利润实现双增，但报告期内公司的毛利率为24.0%，较去年同期的24.3%下降了0.3个百分点。市场可能对此毛利率的小幅下滑以及医药电商行业整体增速放缓的趋势表示担忧。
根据行业数据，医药电商市场规模增速已从2021年的37.09%逐步放缓至2025年的9.4%。同时，公司在AI医疗大模型等新方向的投入虽被视为长期战略，但目前行业仍处于价值验证阶段，距离商业化变现尚有距离。这些因素可能共同影响了投资者短期的信心，导致股价在财报发布后出现调整。
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