大行评级|高盛:维持阿里健康“中性”评级 预期股价将现短期波动

格隆汇
Jul 07, 2025

高盛发表研究报告指,阿里巴巴宣布发行逾120亿元零息可交换债券(CB),可用于交换为阿里健康股份,初始转换价相当于每股阿里健康股份6.23港元,较其前收市价溢价37.8%。高盛估算,若全数转换,将相当于19.26亿股阿里健康股份,占其已发行股本约12%,是次发债或导致阿里健康股价短期波动,但同时亦会增加阿里健康股份流通量。 高盛指,阿里健康与阿里集团的业务合作维持不变,仍是集团生态系统中推动AI+医疗产业转型的重要一员,维持其“中性”评级,目标价4.1港元。但根据当前风险回报水平,该行更偏好京东健康多于阿里健康。

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